Many Banning home sellers, whether they are selling the property as a standard sale, short sale or just curious about price-setting, have many questions and reservations. But the real estate market climate in Banning is not much of a mystery, its just hard sometimes to filter through the abundance of information to get simple answers.
Banning homes are selling faster than listings are hitting the market. This creates a seller’s market. Home prices have firmed up and are slowly rising. Also, standard sellers, or equity sellers, are still reluctant about selling due to still-low home values and their own mortgage loans that may keep their net profits from being able to clear cost of sale.
Banning short sales are still hitting the market and are a large percentage of it, but many potential Banning short sellers are also considering loan modification as well. Short sales in Banning have decreased from their peak a few years ago. But short sales will still be a part of the Banning real estate market for years to come.
Do you have questions about the Banning real estate market? Call us and let’s talk. We’ll give you our professional opinion about the current state of Banning CA Real Estate and what it means for you:
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