14September2008

Housing Recovery Likely in 2010, (But Wait) Expert Predicts Beginnings Could Start in 2009

Posted by staceysloan under: Housing and Economy; Housing Recovery.

Real estate economist Richard K. Green, director of the USC Lusk Center for Real Estate, was interviewed by Jeff Collins of the OC Register.  For a complete transcript of his interview, just give me a call and I will email to you.  Essentially Green thinks 2010 is still about right for the recovery, but believes there is some chance for next year because prices have fallen sufficiently.

Green also was enthusiastic about the raising of the conforming loan limits and changes with FHA and the positive impact it would have on Southern California in particular.

IMPORTANT!  I ALSO HAVE A GREAT ARTICLE ON HOW NOT TO GET SCAMMED IF YOU ARE FACING FORECLOSURE!  THIS IS A MUST READ IF YOU ARE IN A DISTRESS SITUATION.  Give my office a call and I will email it over to you.   Have a great month and give me a call with any real estate related questions.  It’s my pleasure to serve you and your referrals.

28August2008

Good Times for Buyers: Ruben Rodarte on Real Estate Watch

Posted by ericchristensen under: Housing and Economy; Buying a Home; Housing Recovery.

We filmed Ruben Rodarte, Prudential California Realty in Anaheim Hills, at Taps on August 26.  He outlined a number of key points indicating that this is a prime time for the right buyer to take advantage of lower prices, tighter inventory, tighter lending practices and a lack of investors to compete against.

31May2008

What Were the Actual Numbers for April 2008?

Posted by staceysloan under: Housing and Economy; Buying a Home; Housing Recovery; Selling a Home.

The total number of sales was 2,166 for all properties including single- family resale, condominiums and new homes.  The median price hit $500,000 and the median price for a condo was $390,000.  The most significant of the numbers is where the sales fall by price range.  This is most telling of a market that is close to the bottom.  The most sales are happening in the lowest price ranges.  There were 549 sales under $400,000 and another 424 from $400,000 to $500,000.  There were only 194 sales from $600,000 to $700,000 and only 518 over $700,000.  That is not a large number for the over $700,000 when you consider the number includes all the coastal parts of the county.  The positive spin on these numbers is that we are planting the seeds for the next “normal” real estate cycle.  All these entry level buyers will become move up buyers in the next cycle.