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Sal Ruiz, Real Estate Pro in Morro Bay, CA

When do you think the market will turn around?

Asked by Sal Ruiz, Morro Bay, CA Tue May 8, 2012

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2
Location, location, location. Ask the folks in Newport Beach and then ask the folks in Stockton. You may be quite surprised as to the contrast.
0 votes Thank Flag Link Tue May 8, 2012
In San Luis Obispo, it has already turned. Sales are up for several months in a row, and although prices haven't moved upward very much, we are seeing multiple offers on well-priced homes in the lower price range ($250,000-$350,000). Our inventory is down to around 3 months and continues to inch downward. All in all, it is a very positive scene right now. Interest rates remain low, and sellers are finally seeing an improvement in speed of sales and even a bit of a bump in price.
0 votes Thank Flag Link Tue May 8, 2012
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