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www.californiarealestatecenter.com... Read On
Sep 25, 2006 at 11:22 am.
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Today the NAR released it's existing home sales data and nationally prices actually dropped 1.7% from the same month last year. Surprisingly California real estate actually was up a minor 1.6%. The biggest drop happened in the Northeast.For August, California home sales have actually plunged 30.1% according the the California Assn. of REALTORS, which was the biggest year-over-year drop since August 1982.As everyone already knows, California has lots of adjustable rate mortgages, many of which will be adjusting in the upcoming year. Will this have a significant effect and possibly cause an uptick in foreclosures which will drag down home prices? Can the California continue to escape an actual down turn in actual prices or are we just setting up for a serious accident?... ...
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New California Real Estate License Search Now available online
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Los Angeles ABC7.com reported that the southern California real estate markets are still slowing down. Here are some key highlights:San Diego County Real Estate- Home prices declined 2.2 percent- 32 percent decline in sales compared to a year ago. Los Angeles County Real Estate- home prices rose in August at the lowest annual rate in six years (4%)- 21 percent drop in total homes soldAccording to the article, a San Diego professor thinks it may bottom out by 2007 and start to recover by 2008. What do you think?... ...
www.californiarealestatecenter.com ...Full Story
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