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Conventional wisdom tells us that we do not know if we have hit bottom until we are on the way up.  Trying to "time" the bottom is a matter of luck.  For buyers of Palos Verdes real estate I encourage them to consider the following:

 1) Interest Rates are at historic lows.  4.75% for conforming 30-year fixed and 6.625% for jumbo 30-year fixed rate loans.

2) Many buyers are sitting on the sidelines waiting and watching.  Buyers entering the market now have less competition and are able to negotiate better with sellers.  Click here to read more.....

 

3 Comments on Have We Hit Bottom?

JAN
12
2009
149,320 Points

Yes we have!!!  And the best indicator is the maximal buying power that will never be better.
3:26pm • #1

Elaine, very nice picture and nice post (short and to the point) it definitely is a call to action post! As for whether we have hit bottom, I think we have over the last few months and will continue to be at the bottom for a few more and then it will start to move upwards again.
3:34pm • #2
228,392 Points 1 Featured Post Called Shot Master

Have we hit bottom yet? According to Whitney Tilson, an investment fund manager, "things are gonna to be much worse than anyone anticipates".  He indicated that the Alt-A and option ARM loans due to reset in about 3 years will cause foreclosures to continue.

Then there is the assumption that because million dollar homes that once sell even before the listing hit the air ways are now on the market for weeks on end without a sale, is proof that we have hit bottom.   So it depends on who you listen or talk too or what area you work in.
4:11pm • #3


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Elaine Carlson

Palos Verdes Peninsula, CA

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Remax Palos Verdes Realty

Office Phone: (310) 802-2393

Cell Phone: (310) 701-5698

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