Health & Fitness
How's The Real Estate Market?
Kendyl Young, experienced Realtor and avid blogger dissects the Glendale real estate market. Are prices going up?
April’s numbers are finally in for Glendale homes and the trends from the last few reports are continuing.
- Inventory is down
- homes under contract are up
- homes closed escrow are about the same as last month.
- Prices are down 9% from last month AND down 9% from last year.
I found one part of the chart particularly disturbing, so I asked my statistics guy (he’s a real guy who works for Teles, by the way. He can out geek the lot of you, combined), to parse out just that data and create a lovely chart. I was captivated by the relationship of homes under contract to homes that actually close. Homes under contract are not closing, and, this gap has been growing dramatically since December. Last year the ratio was 84% (under contract vs. sold). This year it is only 56%. This would be ok if there had been a low rate of contracts in the previous 3 months, but there was no such lag. The fact is; fewer homes that enter contract will actually close escrow.
No- the simple truth is that a home sale has become very difficult. I know that each one of my transactions have taken every ounce of skill and experience that I possess to carry through to a close of escrow. And, with only one exception, every one has closed. I am not saying I could have closed every one of the failed transactions in Glendale if I had been involved, but if you don’t see the value in a skilled agent’s influence in these difficult times, I don’t know what to say.
Find out what's happening in Montrose-La Crescentafor free with the latest updates from Patch.
Now is not the time to put your largest asset in the hands of a sweet talker or a flashy marketer of image. You need someone with mad skills to make sure you successfully close escrow and move on with your life.
How do you identify mad skills? I am so glad you asked. Stay tuned to this blog and I will tell you.