Property Price Per Region

Interesting statistics on housing trends recently published by JPMorgan Chase & Co. in their November 2012 newsletter. It shows average price has increased especially on the move-in-ready REO properties.


Average Property Price Per Region

As being experienced by most realtors (including myself) and homebuyers in California, our inventory is very low right now. Properties that are priced right and in reasonably move-in condition are selling with multiple offers within a week of being on the market. 

It's been frustrating, to say the least, as on several occasions, my clients have offered $40K+ over the asking price; with strong liquid assets and above average credit ratings, and we still couldn't get the property.

Don't get me wrong, I love the competition and I am truly blessed in having persistent and patient clients. I just wish the real estate God will get rid of the unethical and unscrupulous agents who are running around in our market area (this is another post I can't wait to get started on).

For now,  perseverance and humor are certainly "good close friends" of mine these days.