The move is on! There are buyers out there looking to purchase a home, this is good! It may be the summer rush or that consumers realize the prices are good. In the past week more inquires for what is on the market and what the prices are doing. Prospects are signing on my web site to do searches from the MLS and checking to see if they can qualify for a loan.
There aren't very many REOs available right now in Mission Viejo,Lake Forest or other parts of Orange County. In Jan. you could of purchased a single family 3 bedroom 2 bath 1200 sq.ft. for under $300K not now. I'd say lowest price is around $330K. I hope the buyers that were saying "Oh, I'll wait and see, maybe buy in the summer", haven't missed the bottom. I feel, there will be an up and down till next Jan., only because the market has to test it self. I also think that we are at the bottom and if it goes down it won't be anything like the last 2 years. I am going out on the edge but if there is down turn will only be 3% or less but the up will be 5%. I feel more confident for the up side.
When I go out to preview properties I run into agents with buyers. I know that all most all agents are making sure their clients have gotten pre-approved for loans, so something is working. We aren't showing houses just to have busy work. Investors are paying cash to grab up the lowest priced properties because they know what a good deal these are..
Interested in testing the waters, ask an agent what's happening in your surrounding area?
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