There is a Chill in the Air – July Real Estate Update
Category : Laguna Beach Real Estate
Important information about July Real Estate Sales
Laguna real estate sales volume has been pretty strong in ’10 with 34 sales in June, which is almost equaling the boom times sales volume of June ’05 with 38 sales.
But here we are 2/3 through July 23rd and we’ve only 14 closed sales and 14 new homes going into escrow. If it continues at this pace that means 18 sales and 18 going into escrow.
Is it more than just a seasonal drop?
And there are 400 homes on the market.
20% of the sellers have made price reductions already this month.
While there’s a typical slow down at this point of the year it’s more than in the past years.
But what can you expect with this economy. I’m sure you’ve had many conversations about ‘what the heck is going on?’.
Up, down, sideways.
But when others zig, you zag, and therein lies the opportunity.
Lots of great listings, jumbo loans are really cheap and much more plentiful, and a great opportunity to negotiate a great deal.
It might be time to cherry pick a great deal if you’ve been waiting on the sidelines. And there are a lot of you on the side line. You know who you are.