Quote:
Originally Posted by RP Fade
Been waiting on the sidelines with cash in hand like a patient sniper for the market to slow down. I can vouge that indeed it has slowed down some in Socal, which is usually a bit behind the rest of the economy. We're seeing many more 'short sales', 'highly motivated seller', and 'price greatly reduced' when we go look at open houses and get listings.
Maybe it's not a slowdown per se, it's just a price adjustment and leveling since home prices sored to unrealistic exorbidant prices over the last 2-3 years.
|
I hear ya.
I guess we'll see how the summer shakes out between mortgage rates, and price adjustments on homes. Socal has been crazy with the real estate from what I've heard.
I know even around my area some of the places, especially lake front, are still insanely priced. Although I am seeing a good percentage now with those "price reduced" signs. Which is nice if you are looking to buy. It would appear a lot of people are trying to get in that housing market up before the correction. I can't blame them.
Apartment buildings and duplex prices are not as bad as some of the single family homes, at least around here. Time will tell.