Will prices of homes in California continue to fall?

Real Estate Agent with Westbridge Realty CalBRE# 01901117

The question that everyone wants to know is: "Will the price of homes in California continue to fall". Well, there's really not a definite answer. Experts and economists will tell you to refer to the real estate cycle, and others will tell you to watch the market, follow politics and don't hold your breath. Many will say that it's going to remain flat in 2012, and others will say that there will be another decline before there's a rebound in the real estate market. The truth of the matter is, even if the price of homes continue to drop, the mortgage interest rates need to stay low in order for you to have manageable mortgage payments. And if you are a distressed homeowner, there are reports that there's a hold on foreclosures and evictions throughout the holidays. Short sales are a way for distressed homeowners to get out of their housing situation, because many people are still unemployed. Unemployment plays a big role in the real estate market. Because, you need to have stable employment or investments to be able to make your mortgage payments. And you also need to be employed to purchase a home. So, I think many people are waiting until 2012 to make a move because they want to see what's going to happen next. But if you are thinking about buying in the near future, and you've had good credit and stable employment for some years, it would be best to take advantage of the lowered prices on homes. For more info about real estate, go to: www.thealexandergroupca.com



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Real Estate Faster - Los Angeles, CA

Good post, well stated! Best of success for 2012!

Jan 03, 2012 06:00 AM #1
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Damion Alexander

Real Estate Sales and Service
Buy your next home for less than the cost of paying rent
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