Belmont Housing Report--January 2009
By Drew & Christine Morgan, Belmont California Real Estate
(RE/MAX Star Properties)
This first month of the year is in the books as we close out the sales for January 2009 in Belmont. With 40 homes on the market, inventory is showing signs of creeping up. Looking back on past January inventory levels, they usually hover in the low 20 range. Higher inventory levels typically means sellers will get less than their asking price as the supply and demand is in imbalance. It's always interesting for us to look and see why inventory is up. There can be several factors but they almost all have a common thread and that's the market is slowing down. Most buyers can easily get a loan, despite whatever impression from the media you might have. Sure you need to have a better credit score than last year, and you actually have to put some money down now, but lenders are happy to make...
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