Yes, you read this right. The newest information and marketing charts have charted out new cycles in real esate for the past ten years. Ever since the government stepped in to control the interest rates, economists have charted a new trend in real estate cycles. The current cycles have been very short duration and this down cycle is predicted to end in the next 2 mos. Thecycles have been running 25 mos. We are at the 23rd month of this cycle. It looks like the predictions are coming true and remember you heard it hear on Mary Thomas' blog first.
Of course I heard it straight from Marilyn Budde, Asst. Manager for Remax Palos Verdes, Malaga Cove last week. Today, I also heard it from Sandra Sanders our fantastic owner of Remax Palos Verdes and Remax Execs.
Sandra Sanders stated today that they are definitely seeing a great increase in sales in the South Bay last month and are expecting Palos Verdes Peninsula to follow soot this month.
So all you last minute buyers that are still waiting for the big drop in prices have better stop lounging and start buying while the market and interest rates are low. Which is now. I was reading an interesting article in the Los Angeles Times this weekend about a Seller in Newport Beach, Calif. that sold his home when the market was high 2 years ago for 1.8 million and then recently bought a huge Ranch for 1.7 Million. So he made a million dollars in this market. The writer made a very good point about this market, for all those buyers waiting for the drop, his opinion was that the only way you can tell that the market is done dropping is when you see the market going up and by then it is too late.. I hope you all have a successful real estate investment in your life time. I take pride in seeing that all my clients do. That is my number one goal as a Realtor.