Real Estate Gone Wild!
For some this quote is so true! There is a substantial amount of homes being sold at the lowest prices we have seen in years. According to todays MLS "24 hour watch" we are showing the average home is selling at 89.87 price per square foot. Multiple offers are back and now the guidelines for loans are lightening up. Fixed rates are back, interest rates are staying at a steady 5 percent margin.
First time property buyers with adequate savings and excellent credit will be in a position to take maximum advantage of the housing market changes anticipated during 2008. These buyers will be able to negotiate some excellent deals, especially with property owners who need to sell their homes quickly.
According to Realty Times today:
Wild, Wild West: California Prices Hit Hard, Market Leveling
by Broderick Perkins
California's housing market may be dragging along the bottom.
That could mean it will be one of the first statewide markets to recover from the housing hangover.
Home prices were in free fall in the Golden State in February, but home sales showed signs of improvement, according to the California Association of Realtors (CAR).
Are you waiting for the bubble to burst? According to "NBC Today" on March 25, 2008 " Last month sales on existing homes actually went up! Surprise rise. Home sales increased last month 2.9 percent nationally. This is the first time in 7 months. Some say the free fall may be over and many believe that the fall may be shorter than previously expected.
We are a husband and wife team specializing in both residential and commercial real estate throughout the Antelope Valley, Santa Clarita, and San Fernando Valley, Ca.