Home Buying in Yucaipa>Question Details

Terry Hollow…, Home Buyer in Yucaipa, CA

is the market stabilizing?

Asked by Terry Holloway, Yucaipa, CA Sat May 12, 2012

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12
Yes, John, yes.

"Trends" don't help you see the future; they only show you the past. In April of 2012, there was no "trend" to show you that home prices nationwide would go up 12%, but - they have.

Is the market "stabilizing?" Hail no. Are there opportunities? Yes, of course.

All the best,
1 vote Thank Flag Link Tue Jun 25, 2013
I take issue with the notion that the economy continues to "IMPROVE SLOWLY". My take is the economy which never was continues to decline slowly. Bottom line don't bank on trends, interest rates, timing the market, shadow inventory, foreclosures, etc.

If you find something that hits your hot button that you can afford for the long haul pull the trigger. If you're a speculator you better be damn smart and creative. Lot's of things happening as I write that continue to shape the very volitile and wavering RE landscape.

My 3 cents worth. (Adjusted for inflation)
1 vote Thank Flag Link Tue Jun 25, 2013
As the economy continues to improve slowly but steadily, the housing market condition will remain healthy in 2013. Sales will be strong in the upcoming year as housing affordability hovers at record level. The statewide median price is expected to increase modestly in 2013, as the change in the mix of sales due to more sales in the high-end market and the shortage of inventory put upward pressure on home prices. The fierce market competition, however, will continue to be the norm in 2013 as tight supply condition remains an issue, especially for areas with a significant share of REO sales.
1 vote Thank Flag Link Mon Jun 3, 2013
There is a temporary bubble going on to increase home prices by keeping inventory low. Large market corps have been buying houses in target markets way over asking price and renting. Their goal is with the low inventory, values will increase. They are renting them to offset the costs until they decide to dump them. No, it is not the low APR loans causing the shortage..most sales are cash bought in certain areas of California, Nevada, and Florida.. So if you're looking to dump your upside down mortagage, now is the time.
1 vote Thank Flag Link Tue Apr 16, 2013
Hi Terry & anyone also asking this great question!! Yucaipa is a desired community, I have lived and currently work in Yucaipa for over 16 years. I'm sure you have noticed prices are only going up and now Interest rates as well- I have clients who purchased homes at better prices months ago and now are enjoying homeownership + interest tax deductions. Is it better to know the Real Estate Market is Stable or that your life in a home - that you can call your own - Has made your life Stable. My clients state they are so glad they found a home and get to enjoy lower interest rates today. Feel free to phone or email me anytime! Cell 909-557-6789, email : Alesi1000@aol.com
0 votes Thank Flag Link Mon Jun 24, 2013
The U.S. housing market is showing signs of bottoming as improving employment and record-low mortgage rates boost demand while inventories of available properties tighten. At the end of March, 2.37 million previously owned homes were available for sale, 22 percent fewer than a year earlier
New reports from several real estate research firms signify that home prices are finally stabilizing. The data reinforces a notion already asserted by many an economist, real estate agent and Wall Street investor: that 2012 is the year of the bottom.

Given the steadily dwindling supply of inventory and notably higher listing prices that are being negotiated today, prices are expected to show further improvements in the near future.
0 votes Thank Flag Link Tue Jun 4, 2013
Terry, that is a great question. We are seeing an increase in sales prices of about 16.8% this year in the Yucaipa area. Since we are running with a very low amount of inventory (.8 of one month of homes available to sell); a normal market is 3 months. The increase in prices is a direct reflection of the low supply and high demand. If you have a moment to chat, feel free to contact me at 909-770-2354 and I can go into a little more detail of what we are seeing. Also, feel free to e-mail me at twirth@coldwellbanker.com and I can send you some graphs etc. of what we have seen and are projected to see.
Tricia Wirth Gregory
Broker Consultant
909-770-2354
twirth@coldwellbanker.com
Coldwell Banker Kivett-Teeters
Dre#01314481
0 votes Thank Flag Link Mon Jun 3, 2013
Truth be known Home Buyer Yucaipa, The large market corps you are referring to are hedge funds. They have no goal or hidden agenda. The deal was that the banks with foreclosed inventory sell bulk quantities of these homes with the stipulation that the hedge funds keep them for a minimum of 5 years before turning them. This was to minimize the effects of the turn and burn dynamic that clobbered the RE market in '07.
0 votes Thank Flag Link Tue Apr 16, 2013
Stable is only in the eye of the beholder. Right now it's more about what hit's your hot button as opposed to the "right time". If you want to purchase a home to live and raise your family in for a few years now couldn't be a better time. But if you're a speculator or an investor looking of a flip or a good deal be careful and do your homework.
0 votes Thank Flag Link Sat May 12, 2012
Hi Terry,

There is never really a stable market. The market will always be moving up and down. Right now we are seeing fewer homes for sale, more competition from buyers which is resulting in multiple offers being made on properties and thus housing prices are starting rise slightly.

California has several different markets happening at one time. Northern California is much different then here in Southern California and down near the beach is a whole different market. Where my office is in Upland I can tell you we have as of today 165 active listings out of roughly 16000 homes in the city.

As Ron said a lot of it depends on location. Some parts of California where severely hit by the recession and other locations were not.
0 votes Thank Flag Link Sat May 12, 2012
The Market will never STABILIZE!
The Market is a very dynamic, living thing; just like the Stock Market, forever going up and down.
There are no plateaus. No LEVELING OFF!

Inside the Market and a lot of smaller Markets, cities and neighborhoods; some are going UP and some are going down: Forces like Unemployment, Gentrification, Development, Politics and Climate affect all Markets.

Florida, Texas and California were the hardest hit by the Recession; and some areas of these states are rebounding. Again; it is location, location, location!
0 votes Thank Flag Link Sat May 12, 2012
Terry, I'm not sure if you are talking about your local market or you are relocating to another area you are interested in. I will tell you that some markets nationwide are stil trending downward, some are relatively stable and some are actually starting to increase in price point.

In my local area, some parts of San Antonio are overwhelmed with sellers and this flooding of the market has dragged home prices down. However, there are numerous areas that have increased in marketability and price point. As an average, the market seems relatively stable in my area. However, based on variances, seek a real estate professional in the area you desire information to get market information specific to that area since variances in cities exist.
0 votes Thank Flag Link Sat May 12, 2012
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