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Maureen Rossy
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Maureen Rossy answered:
Yev,
I have to agree with Jordan and Dot in what they say about the pricing here in LA. Being a Realtor in Playa del Rey, we have seen an INCREASE believe it or not in home and condo sales last year over 2006. It really depends on the area and here in California, it serves us not to listen to all the media, which can be so depressing. As one great coach told me, this is a NORMAL market, one we haven't seen in a long time. There are reasons why the market is the way it is; 1) Bank Repos 2) ARM's coming due, 3) in 2005+2006 40% of homes were bought by investors who now need to move their property 4) builders and developers who will offer riduculous incentives just to keep their business going...you know, a BMW for a year and $X in upgrades...just buy me and lastly 5) normal people who have to move because of work, divorce, move up , move down. I have heard predictions that the market will not take a turn until 2010, but we really need to ask ourselves what that means. Houses are supposed to appreciate slowly over time while someone lives in it more than a year or 2, as has been the past decade where some people got extremely rich just from flipping.
Good luck, Yev and I hope my input was useful at least.
I have to agree with Jordan and Dot in what they say about the pricing here in LA. Being a Realtor in Playa del Rey, we have seen an INCREASE believe it or not in home and condo sales last year over 2006. It really depends on the area and here in California, it serves us not to listen to all the media, which can be so depressing. As one great coach told me, this is a NORMAL market, one we haven't seen in a long time. There are reasons why the market is the way it is; 1) Bank Repos 2) ARM's coming due, 3) in 2005+2006 40% of homes were bought by investors who now need to move their property 4) builders and developers who will offer riduculous incentives just to keep their business going...you know, a BMW for a year and $X in upgrades...just buy me and lastly 5) normal people who have to move because of work, divorce, move up , move down. I have heard predictions that the market will not take a turn until 2010, but we really need to ask ourselves what that means. Houses are supposed to appreciate slowly over time while someone lives in it more than a year or 2, as has been the past decade where some people got extremely rich just from flipping.
Good luck, Yev and I hope my input was useful at least.
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