Shocking realties of California Real Estate Market

I was at a seminar for the state of real estate in California and in our area yesterday. These facts I am presenting are from very well made computer calculations over many years. This is important information as we live our new life in a new economy.We all have a good life, just a different life.
1.It looks like there will be 15,000-20,000 foreclosures a month in California over the next 2-3 years.
2. The stimulus is working. Inflation is a concern.
3. Consumers are not spending. The credit impaired younger consumers cannot spend the way the used to. The wealth impaired older affluent consumers will not spend.
4. 2012 a huge amount of commercial debt is coming due and for now there is no financing available for commercial loans.
5.Housing starts are lower in the United States than since 1958
6. 2010 in California they are seeing high end homes to decline about 20% and low end homes to stay the same or raise alittle.
7.In 2009, 84% of buyers in Califoria bought homes under $500,000.
8. In August 2009, 80% of home sales in Riverside County were distressed sales.
9. Over 1/2 the homes sold in 2009 had multiple offers
10. 47% of buyers in 2009 were 1st time buyers. 38.6% were 1st time buyers in 2008.
11. 19.6% of sales this year have been cash sales.
12. 58% of buyers say it is very hard to get financing.
13. 30% of sellers are selling because they cannot make mortgage payments
14.February 2010 is the date set for the reform of the Mortgage and Housing Agency.
Here is clincher- If you don't have equity in your home, you are not a homeowner.

 



The Lori Bowers Group
78015 Main St., Suite 110

Old Town La Quinta

La Quinta, CA 92253

Phone: (760)777-8788 • Fax: (760)771-5355

         Subscribe    

Kathy Schowe   760.333.8886  California Lifestyle Realty  California Lifestyle Realty  SchoweProperties.com                                               

        

                  
                                   

Comment balloon 0 commentsKathy Schowe • October 24 2009 03:44PM
Shocking realties of California Real Estate Market
share
I was at a seminar for the state of real estate in California and in our area yesterday. These facts I am presenting are from very well made computer calculations over many years. This is important information as we live our new life in a new… more
Google Waving…
share
I just got my Google Wave invite. I have watched a few of the videos, and I am going to have to give this thing a rip. Combining text, chat, video, audio and a bunch of things I haven't even thought of yet… with email… seems pretty cool. &… more
The Early Bird Get's The Worm, But The Smart Chick Get's The Business
share
I'm not an early bird. Never will be. But I'm one Smart Chick. Do your clients really want you to call them at 8am when they are driving children to school and or packing lunches? NO… They want you to be there during their lunch hour and when… more
How to Search Twitter for Real Estate Leads
share
Most Internet business is focused on taking your time and making everything perfect. But, when it comes to the Twitter, that is not the case. There are many real estate agents using Twitter to Tweet their inventory away. Did you realize that… more
Heart=felt moon
share
Kathy Schowe, here===I took this photo tonite at our La Quinta hom e… the desert sky is amazing and --without a tripod I captured the heart-felt moon. It was such a beautiful evening -- a balmy 77* and with the low crescent moon I could… more
LA QUINTA COUNTRY CLUB'S natural beauty
share
more