A Recent article in 24/7WallSt.com had Florida as the State with the most foreclosures in the Nation with New Jersey with half as many in second place. Nevada was in there as #4. NO WHERE in this article was California and they went down to the top ELEVEN. In the beginning, California was right up there in the top three with San Joaquin County and Riverside County being the biggest areas hit.
This is a good indication that we are on our way up. Rates are the lowest in 40 years home prices are the lowest they have been. All of the economic indicators show that we have hit the bottom here and will be recovering in 2012. There is a shortage of homes and with the supply and demand economic equilibrium, home prices will, ever so slowly, start heading upward; but we DEFINITELY have hit the bottom.
With the Nation’s unemployment rate at 8.3%, California at 11.1% and Orange County at 7.8%, we are definitely in the best position for the end of our dropping home prices. New home builders have been increasing their home construction and increasing their home prices with each phase. Resales should be following suit. It is the PERFECT time to buy.
Now all you need to do is find the right Real Estate agent to help you with the legalities, and safety factors and a fair and equitable price. A team is the best position to be of assistance to you, with the diversity and the ability to meet your schedule needs.
Marlene, Tony & Mike