Okay, this is ridiculous. No one will want to read a blog that doesn't get regular posts. It's especially ridiculous since I have so much I could say! I get multiple emails daily, from a variety of sources, with a lot of interesting and real-estate-pertinent information. Case in point, today I received this:
"Given the fact that record-low interest rates have so far fueled only a modest recovery in housing prices, the latest
real estate news is hardly a sign of robust economic growth."
Ouch! That comes from an article by Richard Barrington on money-rates.com. And with all the bands playing "Happy Days are Here Again" from many quarters, this doesn't seem to fit. But in a country starved for some positive real estate news, every little upbeat fragment is launched and exploded into the stratosphere, sprinkling down across the nation.
Don't get me wrong--things are soooo much better then they were and those of us in real estate are reaping the benefits, as are those able to take advantage of the low rates and purchase a home. But as the article points out:
" Despite the recent increase, home prices are still about 30% below the peak reached in the summer of 2006.
Those prices have only recovered to the level first reached in the fall of 2003, meaning that homeowners on
average have gone nearly a decade without seeing any increase in the value of their homes."
So, what does that mean? Well, if you are a prospective buyer in a position to buy, do it! Sellers, prices are up about 9% nationally over the past year; but even more if you have a Huntington Beach home or Fountain Valley home. So, if you are a local seller, call me. If you are a local buyer, call me.
I really need to read more upbeat news don't I. But for now, I need to end and go preview property because they sell so quickly, I might miss the chance!
