News and Views on the Southern California Real Estate Market

I have been a little lax the last month.er. two months. The Holiday Spirit was a bit too tempting.

Now, the third day of the new year, I am focusing on how this year will progress. Since my last post, foreclosures have hit record highs, over 200 lending institutions have imploded, and the Southern California real estate market languishes. With all that has transpired, why do so many still have unrealistic expectations with regard to housing prices.

Many homeowners that would like to sell, still believe that their home is worth the same today as it was one to two years ago. Possible, but highly unlikely with area wide declining markets.

Potential buyers are no different. They see every home as a loss at any price. With values plummeting toward their "Ideal" price!

Both of these examples are somewhat over the top, but "Who Is- or What Is correct?

As you might have guessed, the answer lies somewhere in between. This is a difficult market at best, and a disaster at worst. Even the so called financial experts are back peddling. The truth is that we are in a cycle, haven't quite hit bottom, and certainly have a ways to go before we bask in glory of an appreciating market once again.

This is exactly the kind of market that an experienced qualified appraiser shines in. The qualified appraiser can take all the data, compare it with the current market, include personal experience and knowledge of a marketplace, to ultimately determine the true market value.

So if you are contemplating buying or selling a home, contact a qualified appraiser.....before you do anything else.

Till next time ........I encourage your thoughts, ramblings, and responses.

 Scott 

The current market place is ripe with opportunity, you just need the right tools.

Unfortunately, there are additional fatalities in the mortgage market this week. It has been reported that MortgageIT-DB has ceased to function in the retail mortgage market. Additionally, AMC wholesale lending has reportedly ceased operations.

This is a very tough market for buyers, sellers and anyone that works in the real estate industry. But with-in this market lies opportunity for favorable home prices wether through distressed home owners, or through foreclosure sales.

The opinion of an expert in the area, is one of your greatest tools in takeing advantage of this market. Just like having a trusted Lawyer, Doctor, or Banker, the Appraiser should be added to your list; don't leave home without out him.

Till next week....................

It seems like a day does not go by without some headline about our housing market. Well folks, it is not going to collapse , it's not going to burst. We are going through a correction, nothing more, nothing less.

Now I will agree that there are many areas experiencing a decline in market values, and this is very real. However, we have just recently experienced one of the most profitable periods in recent history. Double digit appreciation, bidding wars, lotteries, really now; is that a normal real estate market?

The truth is, values will decline, the market will suffer, but investing in real estate is still, and will continue to be one of the best investments you can make.

To assure a wise investment, the potential buyer should enlist the services of a real estate appraiser, an expert in the area that they are considering.