Praying for Rain

Sheesh! I went on vacation last week…and really enjoyed it! Kind of forgot about everything, including the blog. Oops! Anyway, this entire year has really been a drought when it’s come to inventory around here. I’ve never seen anything like it. It seems like every month I’ve either said , or heard other people say that more inventory was just around the corner. Umm…no, it hasn’t arrived. Seems like everything that’s even half way decent is getting multiple offers. As of this posting, there’s only 6 single family homes listed in Foster City. Of course, that reflects a few houses that are simply fishing too. Way overpriced and/or all beat up and often both. In reality there’s really only a couple of houses on the market that are worth seeing. The real question is, what’s 2013 going to look like?

Certainly, prices are going up. I saw a listing in San Carlos close today…in a questionable location in my opinion, for $295,000 over asking! There are several houses in Foster City that are going to close way over their asking prices too. The thing is, there’s SO MUCH money out there. Really. Folks have been saving. I’d like to think we’ll double or triple the active inventory…but that’ll put as at 18 active listings. Still far below what used to be average. It’ll sure be interesting what January is going to bring.

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