COMMENTS ABOUT THE CURRENT HOME MARKET

Our real estate market in general:

The local home sales market generally reflects conditions in Southern California, and in particular, in Los Angeles and Orange Counties.  We normally trail the trends of those markets because people often move here from those areas, and their willingness to buy depends largely upon their ability to first sell their present homes at satisfactory prices.  As has been well reported in the media, the Southern California market is (at best) stagnant and flat - and, so is ours.

The problems in the worldwide financial situation, and finding enough mortgage credit are being reported daily in all the media.   This affects our market as well as all the rest of the country.

The size and shape of the local home sales market:

As measured by the number of home sales in our Multiple Listing Service (MLS), the market is quite weak.  We are currently selling 30 to 40 homes per month (in our two Zip codes: 92003 and 92028), which is about half of total sales volume just a few years ago.

There were 497 homes for sale as of June 26, 2007, and the total inventory is still growing (to 531 as of August 12, 2007) because there are typically 90 to 100+ new listings each month (most of which, obviously, fail to sell).

The Area Market Survey of Homes will display more of this information for you.

New listings of good properties (if at reasonable prices) sometimes sell fairly quickly.  On average, successful listings are typically selling in about 90 days.  At Fallbrook-Realty.com, we watch new listings very closely in order to serve our buyer-clients and to stay abreast of the rapidly changing inventory.

We also need this information to properly advise our seller clients in marketing their properties.

We now have a few large builders operating here.  The sizes of their projects are not large by most standards, but they do have an important part of our marketplace.  We can provide specific information about these operations.

You might also be interested in knowing about an unusual marketing plan being used by some real estate offices in San Diego County, which is called Variable Range Marketing.

We have long-since been "discovered" by the rest of Southern California, and this is no longer a low-price area.  Our distance from major metropolitan areas is an advantage, not a disadvantage.

More questions?  Just ask us.  We are your best source of local information!

 

Business: (760) 728-3725 or 1-800-395-3725     Fax: (760) 728-9172    

Cellphones: Harry Christiansen   (760) 525-8490   or Ruth Gregory   (760-525-9245)  

Address: 1588 South Mission Road, Suite 215, Fallbrook, CA 92028

Email: info@fallbrook-realty.com