October 7th, 2009 10:22 AM by Lehel S.
Our observations of the real estate market in the greater Los Angeles area (includes LA, Orange, Riverside and San Bernardino counties):
1. Tax credit is expiring 12/1/209
2. Inventories are low
3. Prices are right
4. Interest rates are near historic lows
5. Properties are receiving multiple offers
We work with many clients throughout the greater Los Angeles, San Bernardino, Orange and Riverside Counties and the above observations are true for all areas, (the price changes may vary).
The two big questions that in our opinion will affect the market and we do not yet have an answer for are:
1. Where will the market go with the tax credit set to expire soon?
2. When will the REOs that the banks are holding hit the market?
We believe this is a great time to buy for a number of reasons:
Call us at (626) 339-0697 if you have any questions and we will help you find the right home.