Signs that it is a Good Time to Buy California Real Estate?

24/7 Wall Street identified 8 States that have insufficient buyers.  California is no 4 on the list, and here is what it had to say about California:

“2010 Foreclosures: 4.08% (4th Worst)
Unemployment: 12.4% (Tied for 2nd Worst)
Decrease in Building Permits 2006-2010: -74.7% (6th Worst)

California’s impact on the housing market is huge. The state is the largest among the 50 in total GDP and housing units. California’s unemployment rate of 12.4% is now tied for second place with Michigan, once the jobless capital of the nation. In 2010, the state had one of the highest foreclosure rates in the country, at just over 4%. New construction has dropped off dramatically as well, with a 74 % decrease in new building permits between 2006 and 2010.”

http://finance.yahoo.com/real-estate/article/111848/the-eight-states-running-out-of-homebuyers?mod=realestate-buy

The above may be a good “buy” sign.  A general rule of thumb in investing is to do the opposite of the herd.  Interest rates are still historically low, but not as low as rates were in the past few months.   

Mary K. Lenahan, JD, Realtor
The Professional Difference
(626) 629.8709
Mary.Lenahan.Dilbeck.com
SEARCH THE MLS HERE

DRE 01867737

Advertisements