I have been getting a lot of questions asking me for my 2009 predictions on the market so I thought I would share this great video post from the California Association of Realtor's Chief Economist, Leslie Appleton Young. Listen to the CHIEF! This gives you a detailed picture of what has been going on for the last 3-5 years and how the downturn started WAY before we were all talking about it. In a nutshell, the predictions state that most areas in California will post a decline in home prices for 2009, as the number of sales (actual # of transactions closed) will continue to increase as they have been in the past couple of months. Also, more important than ever is breaking down the data locally since many zip codes can vary greatly. Good news for those of you buyers who have been waiting on the sidelines, it's time to pull the trigger.
To watch the full video go to www.car.org and the video should be there for you to see on the front page. The slides are a bit blurry so let me know if you would like a full copy of the slides.
If you're ready to jump in, look out for the Bank Owned list that I will be sending out for November!
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