Experts predict progress on the horizon for California real estate recovery
By John Lefferdink
may be on the rise, according to new reports from industry insiders this spring. A recent press release from the
postulates that the worst is over for the California market – and that employment improvements and housing inventory statistics portend good news for potential investors as well.
Since last year, California real estate inventory has gone down by 60%. Combined with the narrowing gap between asking and selling prices throughout the state, as well as a reduction in the amount of time homes remain on the market – 9% for single-family homes and 7% for multi-family residences – industry commentators believe that this bodes well for future. As the flood of foreclosed homes and hard-to-sell properties recedes, so too will the number of existing units available for newly employed individuals and growing companies. This in turn will fuel market competition and raise prices, bringing renewed vitality to the state’s economy at large.
In the meantime, current California market conditions also bode well for investors. As noted in past
, nationwide interest rates are at historic lows, with the latest average coming in at 3.89 percent for a 30 year fixed mortgage. Combined with low home prices, these conditions pose a prime opportunity for anyone looking to buy real estate – one that, as home sales continue to rise, may not be available much longer.
Seize the day: invest in valuable San Diego real estate with help from an expert agent
California home and condominium sales reached 29,630 last month, reflecting an 85% percent increase compared to March of last year and the state’s strongest sales report since February 2007. With such forward momentum, now is the time for qualified buyers to seize the day and invest in local real estate before prices and interest rates jump back towards pre-recession standards.
Purchasing a home is a huge step for most families; and that is why first-time buyers and seasoned homeowners alike are encouraged to seek out the advice of an experienced real estate agent when negotiating the San Diego real estate market. At
, we offer informed guidance for buyers and sellers alike; and with decades of experience in the
, our agents can provide everything you need to optimize market conditions.
To learn more, contact John Lefferdink & Associates by phone at 858-756-8098, or visit us online today: