South Bay Homes and Real Estate

What is a buyer’s market?  Torrance Real Estate Agents from Rocky Rockwood explain!

A Buyer’s market is, essentially, a real estate market in which the buyers have all of the power.  For a long time it was the sellers of South Bay real estate that had the power.  With real estate appreciating in value sellers were able to inflate the value of their homes-basing their prices on the scarcity of available real estate in the area.  For people who were interested in investing in Torrance real estate, the opportunity to make huge profits was quite a draw!

Over the last few years, however, homes have been staying on the market longer and longer.  The number of buyers has decreased as people have found that they don’t have the money to move every few years or invest in homes the way they used to.  This shift has given the buyers the power over the South Bay real estate market.  

When the buyers have the power, Torrance home values don’t always go down. They do however, take a back seat to the asking price for a home. This is because sellers across the board have to lower their prices to compete for the buyers’ budgets instead of the buyers trying to out-bid each other to purchase a home.  
While the change has been slow, with the economy in a tailspin and home foreclosures on the rise, the housing market will be a buyer’s dream. Torrance Real Estate, like housing markets across the country, has become more affordable.  To find out which homes are available in your neighborhood (or in the neighborhood you’ve always dreamed of living in) contact Rocky Rockwood today!  

First time clients are given an obligation free consultation into their finances, a free home inspection/evaluation and even a Starbucks gift card (to keep you caffeinated through the home purchasing process)!  Call 310-809-0203 or e-mail ryanrockwood@kw.com right now for more information!