I'm hoping all my prospective home buyers who did not find "the one" in 2009 will put on their shopping shoes, or boots if they are buying horse property, in 2010.
Prices are still high in Palos Verdes, but they have come down from their lofty high of 2006. This week I wrote an offer for a move-up buyer and I'm predicting next year will see more of the same. Banks are bringing back jumbo loans at fantastic rates and that is good news for buyers and sellers.
Sellers will be able to list their homes knowing financing is more readily available. Current inventory is extremely low in Palos Verdes. If credit is easier to obtain, reluctant sellers will be inclined to list their home for sale and forget about the equity that got away. Many of my clients have realized it is simply time to accept the present market and move on with their lives.
Many long time residents of Palos Verdes are ready to downsize and move to their retirement home. Many move-up buyers have sold or will sell their homes to first time buyers. It is the way the housing market moves, and I think we can expect more movement in 2010.
Norma Toering & Team RE/MAX Palos Verdes Realty
(310) 493-8333 / Office Phone: (310) 831-0800
PalosVerdesLifestyle - Nominated by Relocation.com as one of the top ten Los Angeles area real estate blogs. Ranked by Technorati in the top 1% of all blogs. As seen in the Daily Breeze newspaper.
South Bay Los Angeles cities I sell real estate, property, houses and homes in: Palos Verdes Estates, Rolling Hills, Rolling Hills Estates, Rancho Palos Verdes, San Pedro, Long Beach, Torrance, Lomita, Redondo Beach, Hermosa Beach and Manhattan Beach. Information is deemed reliable but not guaranteed.
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