Bouncing Along the Bottom....

I have attached some market trend statistics for Encinitas, Cardiff, Solana Beach, Rancho Santa Fe, La Jolla and Del Mar.  Fascinating story they tell too!  It seems to me we are “bouncing along the bottom” as Herb Josepher, manager at Prudential California Realty, reminds me.  Meaning that if you are waiting for the bottom of this real estate market to appear, it may have to be in hindsight, when you look back and see the statistics of these bouncing times and realize which specific week it was that actually hit the bottom. 

Remember the old Wall  Street adage “ Hogs get fed and pigs get slaughtered” meaning don’t be greedy, or you may get slaughtered. A few thousand dollars shouldn’t make or break any real estate deal.  Thousands and sometimes tens of thousands of dollars makes no difference when you can find the investment property or dream home you won't be able to afford after we hit the bottom.  So quit waiting until the theoretical bottom exists.  You will probably miss it unless you have a crystal ball.  

If you need to leverage it out, remember you can make a considerable amount of money back with depreciation, the “buy” side of your deal, or by putting cash down.

So for those bottom feeders, tell me, what creates the bottom?  The one week in these reports, where more sellers closed escrow than the week before.  Now is the time to buy the dream home or investment property you’ll need to secure your future.

Because of these facts only….interest rates have not been this low for the past 60+ years…Dream homes and investment properties are plentiful NOW and won't be as affordable when interest rates go higher, people get more financially secure after we see the bottom.  NOW IS THE TIME TO BUY!  How much you making on those bonds?