With the median price of homes in California rising two consecutive months for the first time in nearly two years, some of you have been wondering if the time is right for you to take the money out of your home & get a great deal on a move up purchase. The answer is YES!
As your Real Estate Agent in “The Trenches” I will give you a bird’s eye view of what is truly happening in the Orange County Market!
Contrary to what the news is telling you… the market is in a “Supply and Demand” Crisis! There was so much inventory last year, it became a buyer’s market! With so many homes on the market, it extended our market time and prices fell, dramatically! Unfortunately, for normal seller’s like yourselves, if you had some equity and wanted to sell, the market would not allow you to! The Federal Government, in an attempt to help homeowners stay in their homes, froze all foreclosures from November 2008 until March 31, 2009. During this time, and still today, homes have been selling and inventory has dried up. Now there are more buyers’ than homes for sale; which in turn, it’s becoming a seller’s market again!
Last week, something good happened for homeowners; California placed a new 90 day moratorium (freeze on foreclosures) to help homeowners continue to modify their loans to help them stay in their homes! In the meantime, buyer’s are still searching the market for their dream home!
With the inventory at all time low, prices of homes are increasing! Multiple offers are back! Therefore, this is a great time for seller’s to capitalize on the market while Supply is low & Demand is high!
Who do you know looking to sell?
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