Monday, August 1, 2016

It Should Be A Peak In The Valley.....

When it comes to home sales, the San Fernando Valley (Los Angeles) has always had its share of controversy going back many years.

Recent home sales have pushed the median price for the area to more than $600,000. Keep in mind this the median price, NOT the average sale price, which means that the majority of homes sold are well over a half-million dollars.

And, again, home sales have gone up over the past four months.

We understand that agents want and need listings in order to make a living. However, complaining when there are not "enough" listings casts a less than positive light on the market. It's not necessary.

Simply let the report go that home sales continue to rise at impressive prices. Let potential buyers see that they have a better chance of showing increased value of a home they purchase over the next few years. Let current owners see that if they do decide to sell, they have a much better (than earlier years) opportunity to generate a profit on their home.

If there were a ton of listings available, and it was like the days when every block had multiple "For Sale" signs aligning it, potential buyers could think that the neighborhood has become less desirable and that they can hold out for price reductions because so many owners are anxious to sell.

It's all about supply and demand. Quotes and comments should reflect that.

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