The other day MBC featured one local realtor's reflections on buyer sentiment that she is aware of. The implication that prices are high for today's buyers appeared to be partly unwelcome.
Our most recent post discussed one MB home that is almost certainly worth less than what the owners paid last year.
Now, we have…
The other day MBC featured
one local realtor's reflections on buyer sentiment that she is aware of. The implication that prices are high for today's buyers appeared to be partly unwelcome.
Our
most recent post discussed one MB home that is almost certainly
worth less than what the owners paid last year.Now, we have the official line from the major regional realty firm. In a
July 24 press release, Shorewood owners Arnold Goldstein and Larry Wolf are quoted (once again jointly) in support of the release's claim that "results for June continued to demonstrate the South Bay’s resilience in the face of downward trends seen elsewhere." Cue Arnold & Larry:
We continue to be optimistic that South Bay home prices – particularly in the more affluent beach communities – will remain strong, and that buyers waiting for major price declines may be disappointed. It all comes down to continued strong demand, limited supply and the overall desirability of these markets. [emphasis added]
Now, it's no surprise that the party line would be optimism. (They've already
called the bottom.) But are they really saying they want a whole class of buyers to be "disappointed?"
If you are buying or selling a house in the South Bay, Shorewood is likely to be involved in at least half the transaction. But of course that doesn't mean the firm's owners can dictate market prices.
MBC wonders, wouldn't they recognize that demand might be getting pent up as buyer sentiment shifts toward
pessimism as to future prices? By one reading, the surest way to get more action going would be to see prices slip.
MBC invites your comments on current and future market conditions. Let's get that going in comments attached to this post.
MBC's take: you don't have to spend long looking at the RE market to see that no one really knows what's next. But what
buyers, in particular,
think is next does matter.
And let's not make this about Shorewood or Kaye or anyone else. In this discussion they're just people with an opinion. What's yours?
Please see our blog disclaimer.
Listings presented above are supplied via the MLS and are brokered by a variety of agents and firms, not Dave Fratello or Edge Real Estate Agency, unless so stated with the listing. Images and links to properties above lead to a full MLS display of information, including home details, lot size, all photos, and listing broker and agent information and contact information.
Based on information from California Regional Multiple Listing Service, Inc. as of December 13th, 2024 at 8:00am PST. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
