We can expect the Financial Crunch to continue to be felt through most of 2008. Demand for 2008 will most likely be off by about 20% overall compared to 2007, regardless of price range, with the small exception of homes priced above $2 million. With the financial crunch bearing down on the jumbo
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01/07/2008
First, let’s take a look back at what happened in 2007. We started the year with 11,223 homes on the market and 1,442 homes placed into escrow within the prior month. The market time started the year at 7.78 months, eclipsing the 2006 height achieved on July 17, 2006, of 7.51 months. So, the Oran
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01/07/2008
If you are a buyer sitting on the fence, the conditions are ideal; it is time to get serious about buying a home. There are many buyers out there who are thinking that the inventory is high, demand is low and there is still a lot of pressure on pricing; so, why buy now? Thus, many buyers are sitt
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11/21/2007
You can put money on the fact that Bernanke and the Federal Reserve will not leave rates at artificially low levels for as long as they did throughout the 2000’s. We will have to wait and see how the history books are written, but Alan Greenspan (the prior Federal Reserve Chairman) and the Federa
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11/21/2007
We can expect demand to continue to rise slightly, after taking a brief hiatus for Thanksgiving, as there is nowhere but up from the lows stemming from the financial crunch. September and October promise to be low for closed sales for 2007. The active inventory will continue its march downward as
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11/21/2007
Simply put, if you don’t have to sell now, then don’t. The only exception to this rule is the high end, homes above the $2 million mark. Contrary to what many think, if all of a sudden every seller on the market priced their home below the last comparable sale or escrow, the fence-sitting buyers
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11/21/2007
If you plan on owning your home for more than just a few years, rest assured that Southern California is not just a popular worldwide destination, it’s an excellent long term investment. It is important to note that you cannot believe everything you hear or read in the media: "The prices of hous
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11/03/2007
There are a lot of people who now have to sell because of economic circumstances where they simply can no longer afford their home because of recent adjustable mortgage rate resets. These sellers, short sale sellers and the banks that are foreclosing on homes really must sell. For sellers within
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11/03/2007
Demand has continued its slow, but methodical rise over the past month as jumbo loan rates have dropped and confidence in our financial markets slowly returns. We can look for demand to continue to slowly ascend. Thus, the slowest time of the year is actually already in our rear view mirror, Sept
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11/03/2007
We are now headed into the holiday market, historically the slowest time of the year… but, not this year. We already experienced the slowest demand of the year due to the financial market crunch, September and October. November is already showing signs of improvement and December promises to be
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11/03/2007
