Low Inventory

  • March 8, 2013
  • devinlucas

Most people now know there is a severe lack of supply of housing, a “low inventory,” especially of desirable homes, in desirable areas, in those under $1 million gem neighborhoods such as East Side Costa Mesa and more expensive dream homes in areas such as Newport Beach.  Supply-and-demand economics kick in, and Voilà, you have multiple offers on prime properties and an escalating market.  There’s still more room to go before the heights of 2005-2007, so many do not consider these current trends “a bubble.”  After all, lending standards are tighter than ever, so most buyers today are well-qualified or possess all cash; hardly like the money give-aways from most lenders during the bubble where qualification was based on having a pulse.

Here’s a great article from the Orange County Register on Orange County home inventory (hint, it’s too low!)

http://www.ocregister.com/articles/homes-498792-sale-first.html

-Devin Lucas

Author Devin R. Lucas is a Real Estate Attorney, Broker and REALTOR®, specializing in Newport Beach, Costa Mesa and Orange County, serving individual, investor and small business interests in real estate.  Active with the Newport Beach Association of REALTORS® and Costa Mesa Chamber of Commerce, Devin R. Lucas Real Estate is an independent real estate brokerage and law practice located in Newport Beach, California.

Devin R. Lucas Real Estate
Real Estate Attorney | Real Estate Broker | REALTOR®
devinrlucas.com | devin@devinrlucas.com | BRE No. 01912302
949.478.1623 office | 888.667.6038 fax

2901 West Coast Highway Suite 200
Newport Beach | California | 92663-4023

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