November 4th, 2008

Positive news in Real Estate

Is there a positive swing in the real estate market?  November 3rd, 2008, Judy Kunisaki Posted in Malibu, National Association of Realtors the following:| Malibu is always known for its fabulous real estate sales and recently these have been no exception with many celebrities buying and selling swathes of properties in the city. However despite negative national press about the housing market things are looking great in California! According to the California Association of Realtors, Sales of units increased 96.7% in September 2008 over last year! This is great news and shows that buyers are really snapping up those great deals out there. In fact sales Statewide edged past 500,000 for the month for the first time in more than 2 years. Also the level of inventory is down to a fantastic 6.5 months compared to 16 months a year ago. Also the median number of days it took to sell a single family home has shorted to an average of 46.1 days down from 56.7 a year ago. Nationally home sales have risen - with California leading the way. Definite signs of a market which is poised to grow in 2009.I believe Ms. Kunisaki is right. We have seen a spark in the central valley and in Eastern Madera County as well. I believe during this past year we have had so much negative events and reports, especially by our presidential hopefuls, that after the election, whoever wins, we should start hearing positive things that will bring back the confidence in America.

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