Need help selling your San Diego Home? Housing demand on the rise.

Need help selling your San Diego Home? Housing demand is on the rise – The San Diego area housing market is currently experiencing a housing shortage because not enough homes are available for sale to meet buyer’s demand.

The number of homes for sale in the local San Diego MLS is approximately 8,000. This number may seem high but based on the current pace of homes being sold, this amounts to an inventory of homes for about 3 months. Basically this means if no more homes come on the market everything will be sold in a matter of a few months.

The San Diego market hasn’t this kind of “sellers market” since four to five years ago. As the experts like to say things are heating up in the San Diego housing market for 2012.

Short sales make up the majority of homes for sale in the San Diego area. Some areas like Chula Vista, CA has significantly more short sales than others because many home owners were impacted by the downturn in the market. It is expected that more short sales will hit the market as the foreclosure notices are forecasted to increase now that banks reached a settlement with the government over the robo signing debacle.

What should you do if you’re a home owner facing foreclosure? Carefully look at all your options and evaluate whether a short sale or foreclosure is the best solution for you. With their being an increase in demand for homes, a short sale might seem more appealing. The likelihood of getting your home under contract with a buyer could happen pretty quickly with an offer amount that’s acceptable to the bank.

Wondering what to do next?

Lorraine Santirosa is a San Diego realtor that specializes in short sales. 619-248-5484.

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