Welcome in the New year 2008
January 1, 2008
It is a beautiful and sunny day in the Inland Empire. I am posting my 294Th blog and continue to enjoy the effort to find information that will be helpful to those of you who have an interest in real estate news. Certainly 2007 was a remarkable year. When a market is transitioning, either up or down, it takes a period of adjustment and that was exactly the characteristic of the 2007 real estate market in our area.
I do not have a crystal ball that can tell me what will occur in 2008. I do know that as prices have come down and interest rates have remained in the 6% plus or minus range, there are many properties that have become attractive to buyers who consider owning a home a goal.
Yes, sellers will be making downward adjustments to their selling prices, but the loss for many is basically a loss in paper gain considering that on statistic I read stated that home prices in California had risen 84% since 2001.
I hope that in 2008 a home once again becomes the center of a person's daily existence and where they enjoy the pleasures of family and friends. Just as the macro environment of the world shapes our lives so, too, does the micro environment of our residences.
Cheers !
It is a beautiful and sunny day in the Inland Empire. I am posting my 294Th blog and continue to enjoy the effort to find information that will be helpful to those of you who have an interest in real estate news. Certainly 2007 was a remarkable year. When a market is transitioning, either up or down, it takes a period of adjustment and that was exactly the characteristic of the 2007 real estate market in our area.
I do not have a crystal ball that can tell me what will occur in 2008. I do know that as prices have come down and interest rates have remained in the 6% plus or minus range, there are many properties that have become attractive to buyers who consider owning a home a goal.
Yes, sellers will be making downward adjustments to their selling prices, but the loss for many is basically a loss in paper gain considering that on statistic I read stated that home prices in California had risen 84% since 2001.
I hope that in 2008 a home once again becomes the center of a person's daily existence and where they enjoy the pleasures of family and friends. Just as the macro environment of the world shapes our lives so, too, does the micro environment of our residences.
Cheers !
posted by shirley harry at 10:57 AM
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