It will be interesting to see how we do this winter. We're unlikely to see 2003 before late next year or early 2011 in 90505, 90274/90275, and 90277. But 90278 is almost there. A little winter weakness and it could be there...
With the huge fraction of California mortgages not being paid... its going to be interesting times ahead.
Got Popcorn?
Neil
41 comments:
Trends may be slow right now but we all know we are yet not out of the recession completely and hope things will improve soon and I think Laguna Beach Realty is one of the prime examples which has shown some positive signs in the real estate market lately.
Umm, no. Not yet in Laguna Beach. Not until next year at the earliest, probably in late '11 or early '12 we'll see median in the $800k range, possibly lower.
http://www.zillow.com/local-info/CA-92651-home-value/r_96969/
Real estate market has started improving gradually in many areas. Now soon real estate market will be back in good position overall.
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We're starting to see rents rise above monthly mortgage payments in Richmond, VA. So its getting more expensive to rent!
When rentals get too highly priced, people will often purchase.
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