…In inventory that is! I have been a little consumed with moving and closing muliple transactions im the past few weeks and realized that I hadn’t taken the time to check out the inventory. Holy smokes! I woke up this morning to see that we only have 186 homes for sale in Fullerton! If you are wondering if that is a low number; it is!

In May of last year we had 479 Homes for sale (see graph). About this time last month, we were averaging around 220. It feels like we are losing about a home a day. On the flip side, the pending Fullerton home sales (the ones in escrow) are increasing.

So, is this starting to drive prices up? Maybe a little but appraisers are still concervative and buyers still want a good value but it could all change if we see distressed sellers start to put their homes on the market. Until then, I am back to my daily inventory watch!

Yes, I will admit it; real estate has had me in tears more times that I would like to admit. But this is not a story about tears of frustration or real estate stress. This is the story of my buyer’s tears.

I met Annie a few years back when a friend referred her to me to help purchase her first home. Annie is darling; so full of joy and always smiling.

As we spent time together searching for her very first home, we learned more about one another. Annie was from an Eastern European country and came here about 10 years ago. She told me how she had sent her application, including a photo and a “resume” to be considered in a sort of a “lottery” to come to the United States.  Thankfully she was chosen, but her and only her.  She came her on her own, a young adult with no friends or family. She was thankful to be considered to live in the land of opportunity.  Annie worked hard as a live in care taker while studying to become a nurse.

Annie never complained and was always so positive about everything.  As we our home search continued, it became clear that she wasn’t like many of my starry eyed first time home buyers hoping for a perfect home at a nearly impossible price.  Annie felt grateful for the opportunity to buy almost any home. 

When we found a darling little place in a safe complex and the very same complex that I bought my first condo, we were thrilled.  We negotiated hard and the place was hers at a price she could afford.  I have never seen anyone beam the way she did and she found joy in the simplest parts of the escrow. She could NOT wait to tell her parents that she did it; she was going to have the entire American Dream!

After we closed escrow and she settled in, she told me that she has cried in bed many times. Not tears of fear or worry; she has cried tears of joy and gratitude.  She almost still can’t believe how fortunate she is! She did what so many people that don’t live in our great country only dreamed of. Every day she is thankful for it.

Wow, I think I wrote this story for my self more than anyone. I get so caught up in the stress, long hours and challenges of the real estate market and sometimes get frustrated and just want to throw my hands up.

Shame on me; not only was I lucky enough to be born in the land of opportunity; I have the privilege of helping people with the largest and most important transactions of their lives. It is an honor.

I am going to try to take a cue from Annie as often as possible and remember to cry some tears of joy and gratitude for a change. I have so much to be thankful for

Sneak peek! Great Fullerton home for sale and will be hitting the market next week. Move in ready! Attention Mountain Bikers – this one backs the Fullerton Loop! More to follow soon.

Posted via email from cristaldrake’s posterous

I love selling these downtown Fullerton homes!  To learn more about this darling and others like it, let me know! I may have one or two more coming up soon. They sure do go fast.

Posted via email from cristaldrake’s posterous

Ok, now it’s really not funny; I know I have been carrying on about how few Fullerton and North Orange County homes there are on the market but I mean now it is BAD. This time of year we should have been running at around 500 Fullerton homes for sale. As of today, February 28, 2012, we have 221 Fullerton homes for sale. 221!!! I checked stats and the last time we had this sort of Fullerton housing shortage was in early 2004. We all remembered what happened next….VALUES SKY ROCKETED faster than any other time in history. Sure, it was a false market but it still happened.

So does this mean we have hit the bottom? Well, I am not so sure about that. Though prices are about where I think they should be, we still have a lot of people in homes that are not or are just unable to make mortgage payments. Some Fullerton home owners have not made a mortgage payment for over a year or more and with all the back lash the banks have been taking; they just haven’t been foreclosing. I am talking to a lot of people that tell me that they just haven’t made or are unable to make a mortgage payment. They are in limbo and they are unhappy. They have been turned down time and time again for loan modifications and they don’t know if they should short sale or wait for the bank to finally foreclose at some point.

So what happens next? That is the million dollar question. It is frustrating to hear that the government is thinking of selling blocks to foreclosed homes to investors. I sure hope they are not talking about Southern California homes! This housing shortage is not just based on Fullerton homes or Orange County homes but in Los Angeles and now even inland too.

We need homes we can sell. Buyers are qualified, ready and willing to pay for them. Selling homes is good for everyone; contractors, home improvement stores, furniture stores, restaurants and so on. So many people benifit when a home is sold; a local community like Fullerton benefits.

Other than helping home owners that are upside down, stalking other listing agents, knocking on doors, what can we do? I would love your thoughts!

I had a friend send me an email as he was curious about all the new inventory in his Golden Hills Fullerton neighborhood.  Wow, I had to do a double take!  I have currently four to five families that are looking for homes in the neighborhood and I was wondering if I had missed something! I mean what kind of Realtor(r) would I be if I didn’t know about al these new homes for sale in the very Fullerton neighborhood I serve and have buyers for? Shame on me!l

Well, perception is everything. We got to talking about it and it turns out there was only a few new homes for sale in his Golden Hills Fullerton neighborhood. One home had went off and right back on the market (so not really new), one I had already showed to three buyers and one was a short sale that was immediately placed on hold. It turns out that there were tons of open house signs out and that added to the perception that there were lots of new listings to choose from. Whew, I did have all my ducks in a row.

How interesting it is to hear the view from a Fullerton homeowner on the housing market and how it is completely different from what I am experiencing. He felt there might be lots of folks thinking of selling (that could worry a home owner) when in actuality, Fullerton is experiencing about a 40% decrease in housing inventory from this time last year!  I am constantly on the hunt for Fullerton homes to sell to my qualified buyers. I am almost obsessed with turning over rocks to find homes for sale in Downtown or Golden Hills Fullerton! I know it could sound like I am exagerating but look for yourself.  The attached graph says it all.

In December 2010, there were:  507 Homes for sale, 84 in escrow and 83 closed

Flash forward to December 2011, there were:  305 HOMES FOR SALE, 99 in escrow and 71 closed

The year showed a decline in inventory every month starting in February.  The same is true for all of Orange County housing. 

Prices held pretty steadily. I might have to do a three year look back next. I am curious to hear your take on the situation? As A buyer, a seller or just observer.  How do you feel about the Fullerton Real Estate market?

Selling homes in Fullerton; I love it!  But selling homes int he  Downtown Fullerton and Golden Hills neighborhoods are really among my favorite. Why?  It’s not just the uniqueness of these beautiful vintage homes, but because of the people in them. These vintage homes have seen generations of families grow-it’s the stories within the walls that add to the charm of Fullerton’s vintage neighborhoods.  I don’t know many other towns that have the sense of community and colorful history that we do.

I know It can be hard for people to leave these neighborhoods and because I sell so many homes here, buyers have come to know that I am the local expert. I currently have FOUR families that would love to call Downtown Fullerton or Golden Hills  home. The buyers for these neighborhoods are equally special because they appreciate these homes the way the sellers do. Selling a vintage Fullerton home is not like selling any other Fullerton home.

There are so many other intricacies that come with selling vintage Fullerton homes. The biggest problem we are seeing right now is with appraisal value cuts. It is not unusual to have an appraiser come in from out of the area who might not understand how special our Golden Hills and Downtown Fullerton neighborhoods are and how to properly appraise the homes in them. They sometimes need a little help in understanding what other homes to compare them to. It is easy for them to choose the wrong one and the value is shot. A good agent that understands these vintage Fullerton homes will know how to provide the correct data for an appraiser.

I am grateful for my business in 2011. I had the privilege of helping neighborhood folks sell their homes for top dollar and help them move on to the next chapter of their life. My team is growing to ensure that both buyers and sellers receive outstanding customer service and that no detail is overlooked; you deserve the BEST!

If you are thinking of selling, I would appreciate the privilege of speaking with you and I probably even have a buyer waiting for your home!  If you would like to hear from some of your neighbors that I have helped,  please check out my reviews on Yelp.com or contact me and I will put you in touch with some of them!

I have buyers NOW, so don’t wait until spring when everyone else decides to sell too! Right now inventory is low and buyers have waited, they area ready to buy now.