Mira Mesa Real Estate and Homes for Sale - Months of Inventory - September 2010

Rates Best in 40 Years - Consider a Refinance
If your interest rate is above 5.125% and you think you will stay in your home 3+ years, then refinance now to save hundreds of dollars every month. Interest rates are hovering around their lowest in 40 years - about 4.375% for < $417,000 and 4.75% up to $697,500. Rates and terms change daily. Call Robert Boyer (858) 442-1322 to refinance.

Manipulate the Markets: Sell High - Buy Low
If you want more and you own a condo under $350,000 or a home in any price range, then sell and move up. It is a hot seller's market for your sale at top dollar and you will be looking at a much weaker, buyer's market for your purchase at a discount. To find out what you can afford, call Robert Boyer (858) 442-1322 now.

First Time Home Buyers Target End of Year Holidays
The best time of year for buyers is during the fall and winter holidays when the housing market is weakest. Let us help you target the end of the year holidays to get your offer accepted before prices make their annual jump in the first part of the year and most importantly before interest rates start to rise. To find out what you can afford, call Robert Boyer (858) 442-1322.

Mira Mesa Real Estate Market is Up Overall
Home prices are up 6% as we enter the fall / winter slowdown.
Condo prices are down 4% with substantially fewer sales.

How to interprete the data on the chart. When people talk about it being a buyer's market or a seller's market they are referring to how many homes are listed for sale compared to how many homes sold over the course of the prior 12-months. From there, you can calculate how many months it would take to sell everything that is currently listed.

I use less-than-4-months of inventory as a seller's market and above 7-months as a buyer's market and refer to the middle as a neutral market or normal market. What you see in the above chart is that it is a hot seller's market for condos under $350,000, with an excess of inventory in the $350-500K range. It is a mostly a hot seller's market for homes in all price ranges (in Mira Mesa).

If you are selling a condo in that $350-500K range, you should expect it to take quite a while to get your home sold - with average pricing. Most people would prefer a home in that price range. If you want to beat the statistics, then you are going to need to price aggressively - to make your home seem like the steal it is and be very flexible when negotiating the terms. (Doesn't mean you have to be a doormat though.)