Housing inventory booming in Glendale’s higher priced areas

By Steve Stockmar | YourValley

For the first time in quite a while, the residential real estate experience in Glendale has shifted. Sellers look to be on the side of caution, and opportunities for buyers may be growing.

Look no further than a recent case in the city.

Ron Palmer, 72SOLD program director with West Valley Hague Partners, has sold real estate in Glendale for 19 years. He had a buyer in town with a cash offer company and opportunity for a quick close. The way home prices are falling, however, the buyer was the one backing out. The numbers showed that they couldn’t turn the house around and sell it at a profit they’d like to have because of the market’s appreciation.

Whereas sellers have been driving the market the past couple years, through a combination of irresistible profit margins and low inventory, it’s now buyers having more of a say. The market seems to be impacting profitability to sell high, and there’s a lot more inventory out there, Palmer is seeing.

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