31May2008

For Real Estate News, Stick With Me!

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

This is not a market for the inexperienced.  I am here to answer your questions regarding selling your home or buying another one or entering into real estate investments.  There was a lot I didn’t get to cover this month.  Like the fact that agents are seeing multiple offers out there, particularly on bank owned properties.  They are discounted so heavily to move them off the banks books that they are at fire sales levels.  You may lose a home you really would like to buy because you try to low ball the already low price when 10 other offers are also vying for the property.  There was a great article about in the Wall Street Journal, “Where Home Prices Are Holding Up” that stated cities, real cities, are hedging the market fairly well. (Answer: Boston, Chicago, New York, and San Francisco)  Los Angeles was not mentioned because it is an urban sprawl, as is Orange County. If you would like a copy of this article or another WSJ article on bank owned properties just give me a call.  But we may find a great silver lining, which is our weather, labor pool, diversified economy, and best of all; we are nearly built out on space.  I predict supply and demand will make a comeback.