Friday, September 07, 2007
37 Months Inventory
I love the Inland Empire. The name, the weather. Classic California hype. Now everybody's favorite Realtormadam Leslie Appleton-Young is giving the IE Real Estaters some advice. Get this; refuse to list some homes. "Sex"ceprts from the Press Enterprise:
"The best thing you as a real estate professional can do in this market is to encourage sellers who are not serious about selling their homes not to list. Don't take a listing from someone on a hope," Leslie Appleton-Young told a group of Inland mortgage brokers and agents in Rancho Cucamonga.
"The problem is there are no buyers," said Bayer, who attended the meeting with Appleton-Young sponsored by the Citrus Valley Realtors Association and the Inland Chapter of the California Association of Mortgage Brokers.
Bayer said in Moreno Valley, 59 homes in the multiple listings sold last month, while there are 2,200 homes on the market. She figures at that rate, it will take three years to sell all the houses now for sale.
Do the math.