I am located in Valencia, Stevenson Ranch, Santa Clarita, California and have been a Realtor selling residential homes since 1996. The real estate market is now absolutely incredible when looking back to October of 2005. That was the month and year that we, as Realtors, knew that the real estate market had begun to crash.
October 2005 the phones stopped ringing, and homes stopped selling at the brisk pace that began in November of 1997. Homes did sell through close to the end of 2006 but inventories grew and price reductions were the norm. From the end of 2006 until the federal government started the buyer incentive programs home sat and sat. Lowering prices didn't make much difference. Buyers were scarce as were saleabe homes. The market had crashed but sellers had no urgency to wholesale their homes.
Then the Tax Credit began and REO/Bank Owned homes were simultaneously becoming the new era of real estate. Home sold and inventories diminished. Even Short Sales Listings were selling.
Looking back on the market today I can say we have come back from the brink of destruction and now can see the light at the end of the tunnel. We seem to have gone far past the devastation that lead most to believe that we would see the next depression in our life time. People with money and jobs are gradually leading the way to a new tomorrow. This momentum is gaining wheels and smooth sailing is in the near future.
This is the time to buy a home, sell a home and move up or buy an investment property to help regain the equity lost in the pase five years! Home prices are down nearly 50% in many areas and interest rates are near the 4 1/2 % mark. I've said it many times, "Buy a home and help you family, friends, neighbors and country!"
Your Friend & Realtor,
Tony Lewis RE/MAX of Valencia, Ca. www.TonyLewis.com tonyglewis@yahoo.com 661-702-4720
