The following is my last update, just in case you missed it (new comments at the bottom):
"As I have mentioned to many buyers, this market is like standing on the dock and watching the cruise ship leave without you. You knew it was going to leave, you just weren't sure it would really leave without you.
Well, here is the way it is: in any price range, if you are NOT willing to pay 10-20% OVER the listed price, someone else will!
Most homes in the area are selling in shorter and shorter time periods. Most homes will have multiple within weeks, if not days, of coming on the market. Some more desirable homes may have as many as 45 offers over listed price within 5 days!!!!!
The average selling price is moving upward, although down significantly from last year the trend is on the upswing. What about all of those foreclosures that the banks are ready to drop on the market? I say bring them on! I believe that if the banks dropped 1,000 homes on the market tomorrow that in 45 days we will be back in the same inventory situation we are in today. Right now our inventory is a low as it was 5 years ago, and that's low.
All of this should not dissuade you for purchasing RIGHT NOW because, like with my boat analogy, the longer you wait, the less likely you will be able to get on that ride, and what a good ride it's going to be!"
That was then and this is now... I was right ( I knew I would be,) the boat seems to have departed! The average selling price of homes has gone up 4 out of the last 5 months, jumping almost 10.5%! Average selling price is now $137,370! That is still 26.5% below last years price but it is an upward trend.
The $8,000 tax credit will disapear soon if Congress does not vote to extend it and buyers that wish to take advantange have until approximately October 20 to get into escrow. Better get a move on and hope that the rush to close by November 30 won't stifle the county recorder at the last minute.
If you have read this far and are still thinking about buying a home, you had better close this down and call me to set up an appointment to find your dream home. Go ahead, click on the RED "X" and call me at 888-455-1543.
ZIP Codes: 93550, 93551, 93552, 93534, 93535, 93536 Location Characteristics: This is the high desert of Southern California, elevation approx. 2,700 ft. Palmdale and Lancaster extends from West to East almost 35 miles and from North to South almost 28 miles. Palmdale and Lancaster have a combined population of 300,000 +
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These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
