Fewer foreclosure properties spell good news for the California housing market.
By Patricia Kramer & Patricia Lou Martin
California foreclosure listings are on the decline, according to a recent report from the Los Angeles Times that spells good news for statewide markets and North County coastal real estate alike. Based on the latest market statistics from San Diego-based DataQuick, the number of homes throughout the state entering foreclosure fell to a five-year low this month. Coming as it does after years of struggling amidst a foreclosure-choked market, this development brings a welcome lift to industry projections and homeowner sentiments alike. At last, it would appear that the worst of the foreclosure crisis may be over ? and that the market is beginning, slowly but surely, to regain traction.
Industry experts like Kenneth Rosen of UC Berkeley?s Hass School of Business note that, while a reduction in foreclosures is a positive step forward for housing recovery, there is still considerable inventory in many parts of the state ? and subsequently, as he told the Times, ?a lot to work through.?? However, Christopher Thornberg of Beacon Economics says that the progress being made on bad loans is considerable ? and that there is no ?second wave? of foreclosures on the horizon. Coupled with rosy hiring prospects throughout California (job numbers are up by 38,300 as of June 2012) and wide-ranging industry gains, this should encourage homebuyers and sellers alike to think positive in the months ahead.
Buying and selling in a recovering market: optimize your options with expert advice
As the market moves towards recovery, it can be daunting for homeowners and prospective buyers to enter the fray. But with help from a seasoned local real estate agent, it is possible to optimize your options and get the best possible real estate values. At Kramer & Martin Real Estate, we specialize in the purchase and sale of San Diego North County coastal real estate ? and we know the local market backwards and forwards. Whether you are struggling to avoid foreclosure or looking to purchase a distressed property, buying up inventory as an investment or finding a dream home for retirement, our agents can provide the intimate and expert guidance you need to meet your goals. From real estate in Del Mar, Encinitas Cardiff and Solana Beach to Carlsbad, Oceanside and Rancho Santa Fe, the team at Kramer & Martin Real Estate offers premier customer service and outstanding results. To learn more or set up a consultation, contact us online today: www.ranchandcoastproperty.com.
Related posts:
- Encinitas real estate news: how to edge out multiple bidders when buying a San Diego coastal home
- Experts predict progress on the horizon for California real estate recovery
- San Diego real estate trends show high-end home prices on the rise, inventory on the decline
- San Diego real estate trends show high-end home prices on the rise, inventory on the decline
- San Diego real estate trends suggest improvements, prime opportunities for interested buyers in 2012
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