September 10, 2008
Where is the bottom of the market?
For some parts of California, we might be getting there. Some of our clients are finding themselves in bidding wars (or too late to the bidding wars) on Sacramento homes. I’ve heard reports of 10+ offers on some properties. This isn’t necessarily good news for people who are considering selling their homes though – the homes in question are foreclosures and are selling for somewhere in the neighborhood of half their value at the peak of the market.
Cat: | Time: 6:23 pm Comments (1)
September 23rd, 2008 at 11:46 am
In San Diego’s market, we are seeing both hot and cold markets.
In areas that are under $450,000, we are seeing a ton of activity. Homes that show well, priced well, etc. are receiving 10-15 offers.
Another hot area are the beach communities. Areas that have a shortage of supply are still getting activity and offers.
The number of future resets will continue to keep prices and foreclosures a big part of our market for at least 2 more years.
It’s a great time to buy and invest! The right priced home can now cash flow!