The folks over at Fitch Properties and Realtydollars2u.com have seen the market continue its decline for most of the California market.
But though the numbers reflect historic lows, the team says they seen a much more normalized decline throughout the state.
The team says the low end of the market is starting to bottom out, as buyers are having to come up with 20 percent or more to secure loans.
As soon as lenders get on more secure financial footing they should begin to see an uptick in prices for this market, they say.
But the central Valley should continue to struggle until all the excess supply is depleted, which might not be until late 2009.
Now, there is an upside to this dreary situation...
Buyers can find plenty of inventory in this market at bargain prices.
And the team says if the mortgage insurance situation blows up, or if we lose another big lender, we could see some panic selling.
Which means plenty more very low priced homes on the market.
For more information on this area, visit http://www.realtydollars2u.com .
