Inventory Remains Low!!

The inventory in the Antelope Valley remains at an all time low!! Buyers are having difficulty getting an offer accepted due to multiple offers, as a buyer you need to be prepared to move quickly and to be ready to write your offer over the listed price. Many buyers in our market have written as many as 12 to 15 offers on properties and still have not gotten theirs accepted.

Now, we have the sellers wanting the properties to remain on the market for 7 to 10 days before accepting the highest and best offer, so in this time the listing agent has received numerous offers. The next problem is if you are writing an offer over the listed price (which you need to do for there is multiple offers) you will be asked to remove your appraisal contingency! Well this is really difficult for the average home buyer for now if the property does not appraise at your offer price buyer has to bring in the differance in cash. That could be another $10,000 to $20,000 out of pocket expense.

WITH THE INVENTORY THAT THE BANKS HAVE WHY HAS IT BECOME SO DIFFICULT TO PURCHASE A HOME.