The real estate market has continued to fall. There are a lot of people that are nervous about what is going to happen in the near future. Although no one has a crystal ball that I know to give us the answers, my best guess is that it will start to pick back up sometime in 09. Some good news for people in Orange and LA counties is that the demand for homes is still decent. Although the inventory levels have climbed, home prices have not come down as drastically as they have the San Bernardino and Riverside counties. What this means is that there is some amazing deals to be had in the IE. First time home buyers are finally starting to come back out of their shell and start purchasing. Even though 100% financing is still around, it is a bit more challenging to get these types of loans. You need to have at least a 680 fico score and be able to document your income to qualify.
The best news of all is that there are still more people moving into California each year than moving out. This means that even though we are in a bit of a fall, the long term projection for continual growth is undeniable. So whether you purchase property for your family or a rental unit to capitalize on the strong rental market right now, you can never go wrong buying a piece of heaven in California!
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Logan is where Ty would love to stay, but we go wherever he gets a job come August of 2008 when he is done with his Master's Degree. He is just doing the rest of his clinical rotations here in Logan to get to know the docs in the area and put himself out there!!!
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