Dear Friend
It’s time to get “The Real Story” – in relation to Southern California real estate, that is.
If you are one of the potential home buyers who are currently sitting on the fence waiting for “housing prices to hit rock bottom,” I am here to tell you that now may be a good time to get into the market – before the opportunity passes you by. Here are the facts:
The Term “Rock Bottom” in Relation to California Real Estate Probably Doesn’t Exist
In the last 40 years, the real estate market in California has seen remarkable growth in terms of the median cost of a single-family home. According to the California Association of Realtors, since 1970 the real estate market in California has only dropped seven times, six times under 3.6% and only once at 4.5%
The Long-Term Outlook for Housing is Bullish
As we enter into an election year, traditionally a time when the economy heats up, we do so with a job market that is hot, and during a time when buyers have more choices than ever. What is driving this? The upcoming growth in new households puts estimates for new-home demand at about 19.5 million units from 2005 to 2014, surpassing the 18.1 million units added between 1995 and 2004.
A Unique Window of Opportunity
The reality is that the current housing market offers a unique opportunity for confident buyers looking to make long term investments. For the first time in many years, home buyers have the opportunity to steer the ship and navigate the waters of the Southern California real estate market on their own terms. Mortgage rates are historically low, inventory is high and financing is readily available for qualified borrowers.
I am providing you with this information so that you can make an informed decision about the current market. In the last 15 years we’ve seen very few opportunities in which buyers can prevail and now truly is the time. If you’d like to discuss your opportunities in relation to the current real estate market, please contact me today.
Sincerely,
Michael Farris
Coldwell Banker
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