Prices are coming down and are going to continue to come down for at least the next 5 months; however they are not decreasing at the rate of 10% in the beach communities recently. Overall it has taken about a year to see that decrease.
There are too many questions I would have to ask you consider why if you have made reasonable offers they are being rejected. Your Realtor should be able to answer.
The most important question for you is do want to take advantage of the low interest rates currently on the market verses the possible increase in the near future that would offset any decrease in home prices?
I go over this on my blog at
http://www.stewartsrealty.com/MyBlog
As you know property at the beach is always a good long term investment. Over the last 30 years we have seen at least a 1500% increase. Buying in Hermosa is a good bet. Don’t be afraid if you hang on long enough you can only win no matter what your fears are now.
Good Luck
Stewart L Fournier
310-968-1730
Agent for BSA Realty
- Tue Jun 24 2008, 15:17