Are we at the bottom yet?

Have we hit bottom, that is the question of the week. It appears that there is a bit more activity in the market place but are the prices going to continue to drop or is it going to pick again soon. Tune in next week and I will be able to tell.

The Buzz around town is...
Foreclosures are coming- where are the foreclosures- where are the deals?
Everyday I hear the same thing. Well guess what everyone they are here and the word on the street is there are more coming. In Sunland Tujunga I am seeing a few pop up on the market every week. Now that the Feds are looking to up the conforming loan amount it will make it much easier to buy your first home or move up.
We should know what our new loan limits within the next few weeks!
Good luck and happy house hunting!
Let me know what the buzz you hear around town!

Southern California Real Estate

http://www.lynnellsells.com
Single Family home for sale in Tujunga Southern California
2.13 acres, possible horse property
Call Lynnell Woodward at 818-541-7308

Blogger Buzz: DonorsChoose and your blog

Blogger Buzz: DonorsChoose and your blog

Today in Real Estate

There are more and more houses coming on the market everyday and we are seeing more price reductions than prior months. In our local market many of the homes are sitting and not getting the activity that we saw earlier this year. Why is this? Well one theory is the buyers are waiting for the market to plunge further. Another is the buyers are thinking that interest rates will still go lower perhaps to rates we saw a year or two ago. Another is that the foreclosure market is going to infiltrate our "normal" market and prices will plunge. What we do know is that currently the interest rates are still at an all time low for the conventional loan and jumbo's are hovering right around 7% how low does the market need to go without affecting the interest rates? We do know when prices drop interest rates go up; is this going to happen again? I would love to hear from you...

Your local Market Update

With all the news on mortgage rates and home prices dropping is this the time to buy or sell?
Send me your thoughts...

Marketing time

In our local community we are seeing a trend of homes staying on the market longer; we are constantly hearing prices are dropping and that the market is going to bottom out. Well I really see is that if a home is priced right and it is staged properly and the marketing is in place your home will sell. Some homes take longer than others but it you are getting showings you will get an offer; if you are not getting any activity it is the price. Let me know what you think.