Practically every time we turn on the news, the experts are telling us something different about the real estate market: ‘It’s hit rock bottom!’ ‘We’re picking back up!’ ‘We’ve still got a long way to go!’ With all of this conflicting information, who knows what to believe anymore?!
According to Lawrence Yun, chief economist of the National Association of Realtors, we can expect some good news. He believes that home sales will rise this year. This means that we can expect some positive action in the OC real estate market. What reasons does Mr. Yun give us for this positive outlook? Here are a few:
*rising stock market wealth
*rising apartment rents
*continuing high affordability conditions
*home values at justifiable pricces
*investors looking to hedge against inflation
*foreigners buying US homes on the cheap (especially in So Cal)
Mr Yun warns us that there will be obstacles, such as Washington policy-makers and a general hesitation regarding the real estate industry. But let’s remain positive! If you are considering selling your home or buying a new one (an investment property, perhaps?) give Cheryl Marquis a call. She will walk you through the pros and cons and make sure you feel great about your decision.