It's time to break out the record books again, and this time it’s not prices.  The number of properties hitting the market is growing by the day.  Currently there are over 300 apartment buildings, fourplexes and larger, for sale in Orange County alone.  Although interest rates have not yet gone down enough to make a big difference in cash on cash return for buyers, there are getting to be a lot more choices out there for Buyers these days. Two very important factors for Sellers to consider are the average number of Days on Market (DOM) and the number of price reductions taking place.  Not only have we seen the average number of DOM increase substantially, from about 14 days to a month or two, we are also seeing a record number of price reductions.  If you are looking to sell, make sure you take a good look at what else is on the market and price it accordingly. We are passed the phase where you simply list your property higher than the last sales comp. If you do, grab your fishing pole and take a seat, they're not biting like they were three months ago.   

- Charlie Kennedy, principal, Healstone Real Estate Group