While the Orange County real estate market still remains a bit sluggish (foreclosures hit a record high in 2010, with California contributing in large part to the statistic), there seems to be good news on the job front. And this could mean a slow shift in our real estate market.
Just think: if those who lost their jobs in the last few years are finding new ones, a variety of changes in the OC real estate market could take place. For instance, foreclosures might drop as homeowners are able to pay their mortgages. Home buying might increase as people are able to qualify for home loans (which will still be tough) and sellers might be able to sell their homes quicker and for more money.
Researchers expect the number of companies hiring to be about 505, up from 28% in 2010. Additionally, lay offs are expected to decrease. All in all, this is good news for the economy. But if you are a savvy real estate investor, you will know that as soon as the economy picks up and home prices increase while foreclosures decrease, there will be fewer deals out there for you to snatch up. Do not fear: an experienced real estate agent like Cheryl Marquis can help you find your ideal property. Call her today!