Real Estate Trends for Palmdale, Lancaster and the Greater Antelope Valley July 30 2009

Real Estate Trends for Palmdale, Lancaster and the Greater Antelope Valley July 30 2009
Happy days are coming here in the Greater Antelope Valley Palmdale Lancaster area as new listing are poised to come onto the market.  Our inventory have been hovering at the bottom for months now, new housing starts are popping up to fill the lack of available homes.  This is having an affect on prices in the short term as prices are beginning to stabilize, and moving up in soma areas. 

Case in point in 2001 homes selling for $115,000 jump during the big run up from 2002 to early 2007 topped out in the mid $300,000 range.  Now these homes are below $99,000.  Economists’ law states real estate will increase in value in the long term by 3 to 5 percent annually.

This $115,000 home in a normal rate of return (3.5% ANN) should be selling around $143,000 today.  That is not the case we are down from 2001 prices over 14% and over 30% overall. 

The normal rate of return must start to regain the loss at some point, we believe that time in starting right now in the greater Antelope Valley.

The new look of the Dailys which are a set of number tracking the current trand in the Ral Estate Market in the Antelope Vally.
Dailys*

New Listings	28
Back on Market	17
Price Increases	2
Price Reductions	17
Pendings	28
Solds	37
Expireds	5
Inactives	13

Month to Date and Projected open Escrows*

Total Active	1,185
Total Active Core Area	814
Total Active REO's	219
Total Short Paids	338
Pending MTD/Projected	585	/  629

Absorption Rate*
Current Month 1.5 Months
At Last Months Rate 1.2 Months

Historical High 5300+ Mid 2007

Team O'Brian work with buyers of all types, from first time, to investors, please let us work for you!   Call us today.  If you are looking for an aggressive Team to find and fight for the best deal call us or visit out website http://www.homesbyjr.com/. 

Janet O'Brian is a Certified Short Sales Specialist and is ready to help you with your situation please visit her web-site.

                                         (Quick Mapping Links for Core Areas)
Palmdale  Lancaster  Ana Verde  Ritter Ranch  Quartz Hill  Leona Valley  Lake Hughes  Lake Elizabeth  

*The Core Nunbers do not include outlying segments of the Antelope Valley or out-of-area properties. Lancaster, Palmdale, Quartz Hills, Leona Valley, Antelope Acres, Lake Elizabeth, Lake Hughes, Littlerock, Lake Los Angeles, Green Valley and Juniper Hills are included in the core grouping.  All figures are Single Family Residential only.