IT'S 2004 ALL OVER AGAIN (for home prices)
By Greg Haraksin, North Orange County Homes
(Prudential California Realty)
IT'S 2004 ALL OVER AGAIN (for home prices) It's rare when you get to turn back the clock 4 years - but in real estate, you can. In most price ranges, and in most parts of North Orange County, prices have receded to those of 2004. What can you expect for 2008 real estate? 2004 prices in most areas The highest conforming loan limits in history ($729,500) Interest rates below 6% Over 15,000 homes on the market in Orange County 1/3 of all home sales are ‘distressed' (foreclosures or short pays) Sellers willing to negotiate Of course, that may not be good new to those of you who bought in 2005, 2006 or 2007, but it is great news for buyers who waited for an adjustment, sellers with equity who still want to move out of area, and sellers who want to move up locally. Anyone who bought anyt...
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