Newport Beach Real Estate – Time to Buy?

by Michael Salas

Is it time to buy?

Today, on the front page of the LA Times, “Southern California home prices edge upward again in October,” would suggest maybe the time is now to pull out the checkbook. Or at least, kick the tires a little harder.

Timing is everything. Combined with the federal tax incentives for first-time and move-up buyers, interest rates near, or at, historic lows,  the holiday season and our infamous buyer’s market – could there be a better time to make the move back into the housing market?

Closer to home – MDA DataQuick reports Orange County number of sales decreased -1.2% from October 2008 to October 2009. Sales prices, for the same time period, increased +3.9%

Check out the real-time market trends report below. You can see things have started to move up.

The questions are: Will it stay that way? Are we in for another downturn? Do you believe sustained real estate housing price appreciation is back?

Please post your comments below. I want to know what you’re thinking.

[altos_chart st="CA" cid="2076" zid="2892749" rt="sf" ra="a,c" q="a" left="median_price" size="m" timeSpan="e" link="" /]

Richard Stabile Bergen County Real Estate November 22, 2009 at 7:13 PM

Rising prices should bring in more buyers. That is the psychology of the markets. Let us hope we have follow though.

Michael Salas December 17, 2009 at 9:30 AM

Thanks for stopping by! What, exactly, would you like to know more about? We are seeing more positive stories about the housing market. In the past week, I have had several calls from folks wanting to take a look at homes for sale. The signs are positive. Just let me know what interests you. I will investigate and write about it. Thanks for commenting!

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