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Current Inventory of La Jolla Homes for Sale Opens Opportunities for Home Buyers

La Jolla, CA (Vocus) March 1, 2010

LJ Platinum now features an inventory of homes that provides home buyers several options in varying price points, centered on La Jolla real estate and the California coastline. The firm specializes in La Jolla homes for sale in a choice of environments such as the tranquil, quiet neighborhood home, on resort property, an equestrian estate, or at the oceanfront.

The company’s current inventory of La Jolla homes for sale opens up many options for area buyers in the market. Sales in the real estate firm were upbeat in the 4th quarter of 2009. Buyer activity was represented firmly by a decrease in overall inventory. However, there are still many choices available for the savvy buyer.

“In the business of real estate, sellers now recognize a mismatch between supply and demand. They are more understanding of the prices that are a reality in today’s market. Buyers are more willing to buy as sellers are more accepting of the current market prices,” said Dane Soderberg, VP-Broker Associate at LJ Platinum.

While LJ Platinum serves the entire San Diego area, its La Jolla, CA homes for sale are its prime properties and provide an accurate measurement to gauge the state of the market in general. Since August, the firm’s inventory of detached homes and condos has decreased significantly. This should not deter buyers, the company urges, as there are still many opportunities to buy many types of La Jolla homes for sale today.

Soderberg added, “Sometimes buyers are unwilling to offer what they are willing to pay. It is often rewarding when they do so. For example, an oceanfront home in Lower Hermosa that was listed at $ 12 million recently sold for $ 8 million.”

About LJ Platinum

LJ Platinum’s custom real estate portfolio is centered on La Jolla real-estate and the California coastline. The firm is run by a team of luxury real estate professionals whose expertise in the La Jolla real estate market has grown with being long-term La Jolla residents. Its properties include oceanfront, village homes, resort properties, equestrian estates, yachting accommodations, and residential properties.

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August New Home Sales ? What is the Effect on Current Housing Market Trends?
Discover the truth about housing market!

August new home sales were announced by the Commerce Department last week.

The August new home sales market continues to struggle because of the high inventory of houses and the lagging economy.  Housing market trends are very depressed.  This is having a devastating effect on homeowners hoping for an economic upturn.

The annual rate for August was 288,000, the same as the revised number for July.  This number is only 2.1% higher than the lowest month in recorded history.  This lowest level was in May, 2010.  Economists had projected a 6.9% increase in August new home sales or 300,000 units.  The actual numbers obviously fell far short.

The federal government first time buyer tax credit program ended in April of this year.  May saw a sizable drop in housing sales.  This huge drop was primarily due to the rush by homebuyers to purchase homes before the expiration of the tax credit.  The tax credit seemed to only move housing sales from a later period of the year to the period when the tax credit was offered.

Today’s sales of new and existing homes are being negatively affected by high unemployment, tight credit standards, and the concern about continued housing price declines.

A surging housing market has always been instrumental in driving the economy out of a recession.

The weak August new home sales numbers indicate that the housing market is far from a recovery.  This is bad news for those hoping for a near term economic recovery.

Housing market trends are going in the wrong direction.  But new homebuilders are making the situation worse.  New housing starts came in at an annualized rate of 598,000 in August.  Housing starts had averaged 567,000 during the last four months.  With the August new home sales of 288,000, it’s easy to see that builders are adding to the inventory of unsold homes.  

Builders must compete with a huge inventory of foreclosed homes with many more coming onto the market.

I’ve said this before.  In order for the housing market to stabilize, housing prices must come down to a fair market value.  Government intervention is only postponing the time when the housing recovery can truly begin.  Until we see the end of this, housing market trends will remain negative.

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