Yes, it's true - there's a housing inventory shortage in my area. It helps that I live in a highly desirable neighborhood (Woodland Hills, south of Ventura Boulevard, in the Woodland Hills Elementary School district) but inventory for homes under 500k is low in most areas of the San Fernando Valley now.
So how does that help sellers that are conisdering putting their homes on the market? Well, pick a savvy Realtor to help prepare your home for sale, come up with a competitive pricing scheme, and be ready for possible multiple offers, full cash offers, OVER list price!
Now for those of you under the impression that this is a bad time to sell, consider that any paper "loss" you think you're experiencing from the sale, you will immediately gain back on the purchase of your new home IF you put the same thought and exercise into your new home purchase. You must be prepared to be the first one to respond to listings (again, having an ACTIVE & on-the-ball Realtor will be crucial!), have strong buying power (i.e., great credit), and a Realtor with creative presentation skills.
So, know anyone considering selling their home? Give me a call - I've got buyers ready to go!