Compared To 2005- What Is Happening To Real Estate Prices In Eureka, Calif?
By admin. Filed in chicago multi family real estate |Tags: 2005, Calif, Compared, Estate, Eureka, Happening, Prices, Real, What
I need to know what has happended to prices in Eureka, Ca this year. In Aug are home and multi family homes (4plex, 5plex) prices declining rapidly or only slightly? Is the rental market strong or so-so? If you bought a home or multi family home in Feb 2005, is the price today the same or more or less?
Wednesday, June 24th 2009 at 9:16 pm |
number of homes for sale on the market is increasing back to the mean.
Sales prices are holding steady at 2-3% and should remain.
days to sell a home is also increasing back to the historical mean.
dropping mortgage rates will forstall any decline in prices into 1st quater of 2007
Thursday, June 25th 2009 at 12:55 am |
Not sure, but…………
Keep in mind………..
Times and markets are changing!
In California with average homes selling well over $500,000, a 20% decline is $100,000! In any market ‘timing is everything’! So, could you afford a loss of 25% of your investment all because of poor timing???
This last up cycle was 10 years in many parts of the country. The downcycle now started in CA, Wash DC, NYC, Vegas and other hot areas of the past are all soft and getting softer.
From 1990 to 1996, the average home in San Diego lost 20% of its’ value! The cycle we are now enterng looks like it could well exceed that on the downside!
With all the 100% financing, interest only loans, EZ qualifing etc…even a slight decline will cause many to be unable to sell for the amount due on their loans!
For some great ‘insider’ articles on the San Diego real estate market, which I believe will apply to any of the hot real estate markets of the past five years…..visit:http://www.brokerforyou.com/brokerforyou…http://www.san-diego-for-sale-by-owner.c…http://www.downtown-san-diego-real-estat…http://www.palermo-homes.com/http://www.poway-real-estate.info/poway-…http://www.los-angeles-real-estate-broke…http://www.orange-county-real-estate-bro…http://www.san-francisco-real-estate-bro…http://www.san-jose-real-estate-brokers….http://www.brokerforyou.com