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The bottom of the market can only been sign in the rearview mirror

As the debate continues whether certain markets in Orange and Riverside counties have "bottomed", the usually gloomy Case-Shiller index reports that home prices have reversed course and that the bottom has passed.

Please find a link to this interesting article http://realtytimes.com/rtpages/20090804_realestateoutlook.htm from Realty Times.

For our clients in Orange County, we maintain that the market under $500,000 has reached a bottom. In Riverside County, we see this level at $350,000 and below. If you are a buyer in these markets, you are likely writting offers on multiple properties, competiting against at least a dozen other buyers and wondering why some people still believe that we're in a "buyer's market" and should expect greater price declines.

Have a great day!

Nancy Moeller, CPA, Real Estate Broker

www.TheOCExperts.com

Seven Gables Real Estate

Todd Direct: 714 404-9540

License #01762788

Nancy Direct: 714 276-7006

License #01727426

Posted by Nancy Moeller on 08/04/2009 01:21 PM

Comments (1)

Market Bottom in the ActiveRain Channel

orange county real estate market

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1 Comments on The bottom of the market can only been sign in the rearview mirror

AUG

All the multiple offers are pretty crazy. I find I'm working just as hard now as during the "height" of the market, trying to get my clients' offers accepted over the competition. Do you really think we're on the way back up or might it be temporary. I think some buyers are waiting for the other shoe to drop- as if suddenly banks will flood the market with REO's. I'm fine with those fence sitters- the buyers I'm working with now are keeping me too busy to add any more to the mix!

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