Orange County prices have continued to go down slightly this month due to an increase in the total number of foreclosures, short-sales, and mandatory corporate employee relocations. According to the National Association of Realtors, this trend is expected to continue for another six to twelve months.
Unless you absolutely must, now is not the best time to sell a home. The real estate market cycles sometimes like a roller coaster, with ups and downs. Over the long term, residential real estate prices have always has ended up much higher. If you wait long enough prices will again rise up to another all time high. The best bet is to always think long term whenever investing in residential real estate.
Now is a wonderful time for buying a home.
Current economic conditions have created a very strong buyer’s market, where negotiating price reductions, closing cost, repairs and other items are possible. Once prices begin to rise again, many potential negotiable items will be taken off the table. Waiting for the market to reach bottom, could cost you big bucks!
This Report Posted By:
The Louison Team,
Raymond & Stephanie Louison, Real Estate Consultants
REMAX Real Estate Services,
Each office independently owned & operated
Raymond: 714-925-5361 or Stephanie: 714-307-2934
Toll-Free: 800-546-4821, ext. 2444
All information deemed reliable, however not guaranteed!