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Have we finnaly reached the bottom of the market?

By
Real Estate Agent with First Team Real Estate

The public is waiting to hear from the media that the market has reached the bottom. Well according to some intense studies by the owner of my Prudential Franchise, based in Anaheim Hills, IT HAS. Our offices in Riverside, Corona, and Moreno Valley have had the best sales last month in the last year. Our Orange county offices report the same, with our Anaheim Hills office reporting 58 sales with a total of over $60,000,000! Each office in Orange County has either doubled or more, their production in March from last year, and this month is even higher.

So you won't see this on the nightly news, or read it in the paper, or see it on the internet, but between those of us in the know, the time is NOW for buyers.

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Clark Garrison
Taylor 1 INC - Atlanta, GA
"Loan Modifications"
I think there is going to be a lull until after the election cycle happens. We love Change in this country!
Apr 16, 2008 07:40 AM
Ron Parise
LocateHomes.com - Cape Coral, FL

 

 Sales are up in my market too but I think what we are seeing is a dead cat bounce. With the number of foreclosures yet to find there way back on to the market, I think we have at least 3 more years to the bottom.

(I can send you what I have been reading that leads me to that conclusion if you like)

Whats a dead cat bounce?
It is derived from the notion that "even a dead cat will bounce if it falls from a great height".
 

Apr 16, 2008 07:52 AM
Patrice Estess
PB APPRAISALS - Kerhonkson, NY
That sounds good to me, I hope it really is bouncing back...
Apr 16, 2008 07:59 AM
Lori Franks
Real Estate Consultant - Brookings, OR
Brookings, Oregon
Marsha, This is great news! I am sure we haven't heard the "bottom" of the doom and gloom from the media.
Apr 16, 2008 08:06 AM
Denise Allen
Resh Realty Group - Chesapeake, VA
Realtor@ Chesapeake, Hampton Roads
Thank goodness we only got hit a bit with the foreclosures but they do make a mark.  I think things are picking up a tick.
Apr 16, 2008 12:52 PM