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Santa Maria Valley Closed Sales November 2007

By
Real Estate Agent with Keller Williams Realty Central Coast ~ Pismo Beach CalBRE# 01502962

 

Closed Sales in Santa Maria Valley increased very slightly from October to November 2007 with 78 closed sales in November 2007.  In October 2007, there were were 76 closed sales.  As we enter winter, sales typically slides downward until spring.  Now for buyers, this is a great time to take advantage of the favorable interest rates, large inventory, motivated sellers, and favorable terms available for the qualified buyer.  Increase foreclosures and short sales continues to push the price downward.  If you are a buyer, investor or someone who wants to take advantage of a "buyers market" where prices in Santa Maria Valley on average has dropped approximately 18% in October 2007 from a year ago per association's data.   One thing about real estate and markets is it is dynamic and cyclical.  In recent years the market was in favor of sellers; now the market has moved the opposite direction in favor of buyers.   In my option, I do not think we have hit bottom yet.   At some point though, the cycle will move the other direction again and you do not want to miss your "window of opportunity" trying to time the market.  

Check out my website at cesarbautista.com for a free property search.   Call me with any questions at 805.268.5389 or email me at cesarbautista@kw.com.    

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