The market is showing signs of improving “right now” Is it time to buy?
Home prices in the Southland, which sustained one of the nation’s biggest declines, are rising, propelled by buyers eager to snatch up deals on deeply discounted foreclosure properties. Outlying areas such as the Inland Empire and Central Valley are continuing to struggle and will probably do so for some time. However, pockets of recovery are beginning to emerge and Orange County is certainly one of these communities that is posting a gain in sales numbers and pockets of price increases. Market share of foreclosures and short sales is very low as inventory decreases it is shortening the market time for current homes available for sale.
Some may thnk that California would continue to be a poorly performing state based on the depth of the value loss, but Californians have learned to think like speculators over the years. Speculators know you buy when the news is still bad and market timing means you don’t wait until the market starts going up.”
If you are thinking of catching the bottom of the market you might want to get started now! There is certainly talk of a shadowy foreclosure inventory looming on the horizon but if it does materialize it will sell quickly. There is much demand for this type of property
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