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Is the market really that bad? Have we hit bottom?

This question has been asked of me by many people lately, especially home sellers. The answer is I really don't know what will happen to the future of our North Orange County Real Estate Home Prices. I do know that there are more home buyers in the market. I have just closed 2 escrows with 2 first time home buyers, I have one more in escrow and I am currently negotiating an offer for another! I am not trying to brag I am just stating the activity I am experiencing in my market area.

It is May 1st and historically the housing market heats up this time of year. My 2 new listings are both being shown on a daily basis. One is a Pre-foreclosure Sale and the other is a tradition sale. Both sellers are aware that they must be priced well and in the best condition to lure a buyers interest. Every buyer that I encounter in this market wants to make sure that they are getting what they want in their new home. That does not always mean the lowest price.

My estimation is that the market is what you make of it.

If you NEED to sell your home, or if you DESIRE to purchase a home it's YOUR Market.

Find and agent that will make the most of it for YOU!

Written By Tina Maraj Shah REALTOR Since 1989

Posted by Tina Maraj Shah Fullerton Realtor on 05/01/2008 04:40 PM

Comments (4)

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4 Comments on Is the market really that bad? Have we hit bottom?

Tina today I was doing a CMA and I think the market may be changing. I saw a couple of homes increase their price. Go figure.

05/01/2008 04:51 PM

by Abiud (Abi) Montes (EWM Realtors)

TINA - the answer is NO...the bottom will be uglier and quite sad when things are said and done (4th quarter 2008). Yes, I'm doom and glooming it but seriously, you and I havent really felt a recession like the one coming...in the end though we will be stronger for sticking it out!

05/01/2008 04:55 PM

by Nathan Scott (TBD)

Tina, as usual, you are right. If you price a home to sell, it sells in this market and if done right, you can even create a mini sellers market! First time home buyers are in full swing too! Will it last? No one really knows but I say, "take it while it's here!"

05/04/2008 11:12 PM

by Cristal Drake - Fullerton Area Realtor (Re/Max North Orange County)

Thanks everyone for your comments and for reading my post.

05/05/2008 09:03 AM

by Tina Maraj Shah Fullerton Realtor (RE/MAX North Orange County)