Our colleague in Palm Springs posted the comment below from our Californai Association of Realtors. We're seeing a strong market on the mid-Peninsula with low inventory keeping sales down.
According to a January 12th, 2010 report, by California Association of Realtors (CAR), on the real estate market as it relates to California, it stated the following:
"It's heartening to see encouraging signs in both the general economy and the real estate market in California. As is often the case, California is ahead of the nation in market recovery. The state's median home price increased year over year in November for the first time since August 2007, sales bottomed out more than two years ago, and the median home price reached its trough in February 2009. Going forward, we expect the statewide median home price to rise 3.3 percent to $280,000 this year, with a slight decrease in sales. While no one has an infallible crystal ball, it looks like the worst is behind us, and we can move forward with confidence that better days are ahead."
Recovery has started in Palm Springs Real Estate although it will probably be two years before most of the foreclosures are behind us. Here is good news to appreciate today.
• Now you can Search the Internet like the Realtor's do
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