With the wave of foreclosure barely hitting our Real Estate shores its just the beginning of a Tsunami that will be hitting the market over the next year or two. With Victorville offering some of the lowest home prices in Southern California prices will continue to drop I believe another 5-8% in the High Desert. With builders scaling back on new starts and existing homes on the market Victorville Real Estate market has been hit pretty hard on the drop in sales. I believe house prices will recover over the next 10-12 months as buyers on the sideline start to come on to the playing field and start buying.
With the High Desert being one of the fastest growing areas in Southern California those who buy now are in a good position to get a great deal and move into an area that is projected to grow exponentially over the next decade. Business' are flocking to the High Desert to try and capture the populations growing spending dollars. Not only is Victorville a great place to live but it is also a great place to start a new business. The builders will continue to offer exceptional deals and incentives to entice buyers to buy. Buyers can benefit greatly from standing inventory deals as these offer the best deals.
Anyone looking to sell their home in Victorville needs to aproach the sale very aggresively and with a plan. Now is not the time to put your home on the market and see if you can get what you think your home is worth. You need to be the best priced listing on the market if you want any interest on your home. The market is saturated with over priced listings and you will benefit from pricing your home below all other comparables. Sellers are still adjusting to the price depreciation on their homes and it will be another 6 months or so for those who are over priced to flush themselves out of the market.