Homes, Real Estate and Foreclosures in Calabasas and San Fernando Valley Areas www.michaelandirenehomes.com
As Californians struggling with 12 percent unemployment are trying to hang onto their mortgages, there may yet be signs of hope on the horizon. According to numbers just released, foreclosure activity in the state and Calabasas, Woodland Hills, Hidden Hills, Tarzana, Encino and good outlying areas dropped 14 percent last year, compared with a 2 percent drop in the rest of the nation. Home prices in California and areas like Calabasas and outlying areas hit bottom in April of 2009, and have risen incrementally since then. The first state to show signs of the housing crisis, California now may be the first to recover. Analysts caution that demand for housing is still weak- but does this news signal a first step on the road to recovery?
In Calabasas and the outlying areas (Woodland Hills, Tarzana, Agoura, Westlake Village, Encino, Sherman Oaks) many of the listings are foreclosures and short sales. Here is the opportunity to increase the inventory with good houses that are a REGULAR sale. There are not a lot of great listings! So sellers' chances to sell their home will increase in this market.
Yes, I know there is no crystal ball and NO ONE knows what direction the market is going. But take a look at the inventory in your area. www.michaelandirenehomes.com .
Did you know that the majority of interest -only loans nationwide were written for loans in California. It was the only way to finance these overpriced CA homes in 2006, that was 5 years ago
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