I wonder what happened between Jan '11 and Feb'11? Why did the value jump so high for a short period of time?

Asked by Juan Rojas, 91206 Wed Mar 23, 2011

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Sergio Medina, Agent, Long Beach, CA
Wed Mar 23, 2011
What specific location are you referring to Juan? I just sold 2 similar homes in the same area that were both investor flips. I sold 1 of them for 20k below asking price and sold the other for 15k above asking price. It all depends in which area of the city your looking in. Nice homes in decent neighborhoods will have multiple offers from all the buyers who are actively looking right now but are patiently waiting for a good buy. Not a cheap buy; a good buy! All of the distress homes are saturating the market and making most of the savy buyers appreciate a well taken care of
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Monique & Joe…, Agent, Beverly Hills, CA
Wed Mar 23, 2011
Hello Juan,

From 1 month to the next, a couple sales can shift the the prices. There also may some small recovery Looking at the big picture it's best to look at the prices from 1 year to the next or over a 12 month cycle.


Monique Carrabba
The Carrabba Group
(323) 899-2900
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Brad Davidson, Agent, Placentia, CA
Wed Mar 23, 2011
Values were artificially inflated by tax incentives last spring and have been settling back ever since. Low interest rates are keeping the market afloat now but not by much. It could be a long summer.
Web Reference:  http://www.wehelpubuy.com
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