Some of my loyal readers have emailed me with questions about my recent posts. “One day you tell me the market is improving, the next day it isn’t? What is going on here!” Great questions, and the answer is that in this OC real estate market what’s good for one isn’t necessarily good for all.
My posts report the facts; which show that even while the OC real estate market is not great for some, it is excellent for others. For example, if you are a real estate investor, or a person interested in buying and selling (aka “flipping”) homes, and you have the financial means — then this is your time. Short sales, foreclosures, lower selling prices… What more could a savvy real estate investor ask for?
At the same time, however, these very same short sales, foreclosures, and lower selling prices are not what most homeowners are hoping for. So while demand for OC homes has increased 22% over the past month (which on its face is positive news because it implies there are more buyers out there), if selling prices aren’t increasing (and in some cases they are not — see my post from last Friday) than homeowners are probably not excited.
So yes, the market is showing signs of improvement. But depending on your situation (seller, buyer, investor) it may not be at the pace you hoped.