About Upland's Inland Empire

I'm here - now what? Actually, I've been wanting to get more involved online for most of this year. So here goes!

As July approaches, I will be celebrating 13 years as a Realtor. I love my real estate job (I eat, sleep and dream it) but I've not seen a market like this.

My observations lately are that right now everybody, meaning Buyers, Sellers and Agents are acting like the proverbial "chicken with their head cut-off".

Now I need to explain. In Southern California's Inland Empire Sellers are still wanting to sell at January 2008 prices, Buyers want to buy at December 2009 prices. And Agents are pulling out their hair playing tug-of-war trying to bring those two ends together and make the sales happen. This wide gap is there because the Buyers don't want to get stuck with an overpriced house and Sellers don't want to believe that what they hear on the nightly news about rising un-employment, short sales and foreclosures really does apply to them.

"Yes, Mr. Seller, your house is the best home I've seen in the neighborhood but no we can not price it $50,000 over the last sold model match!" "Yes, Mr/Mrs Buyer, your offer is very good. 20% down, good FICO scores and great income however there are 3 other offers on the table and they are all over the asking price, I know this has happened to you before but it really is a "Buyer's" market!"

So what is the right price?? Who knows anymore. The banks are listing their inventory at around 5% under the comps and selling for more. The short sale "experts" are listing at 2001 prices and causing a flurry of activity which is resulting in the accepted offer being much higher than the list price. The "real" Sellers want to list at last year's prices and Buyers just don't know what to do or who to believe!

Never a dull moment, that's for sure. All in all, sales are up because prices are down, interest rates are down, inventory is down - the Perfect Storm! And the best part - the public really needs Real Estate Agents right now!