Long Beach Housing Market

A perfect time to buy??
March 22nd, 2011 2:09 PM

Everyday I follow blogs and news feeds about what's happening all over the country in the Real Estate market.  I was pleased to see the top 10 markets for the next year identified recently by Inman.  I was surprised when I read all the details on each listing that they all have 2 things in common.  Low unemployment and low foreclosure rates.  One of the cities on the watch list is Fargo, ND apparently they've had continued and sustained growth in their real estate market.  Now the average price of a home is no where near ours, but still all things are relevant.  The most interesting thing was that their unemployment rate is 5.9% and their foreclosures are listed as 1 in 10,000.  That's amazing to me.  I guess those that have been saying it for weeks, we need to have a significant change in our unemployment numbers and we need allot of the terrible short sale and foreclosure inventory off the market before we see prices go up, are right!  I follow a blog that has some pretty high powered real estate folks inputting to it, it's the KCM Blog "keeping current matters".  Today Barbara Corcoran, an east coast Realtor who is a contributor on several news programs on a regular basis said this “We have a regular real estate miracle happening right now. We not only have record low prices, but we also have cheap money.”

Donald Trump also said today - you should buy a house and in ten years when you look back and say that was the best decision I ever made you'll have Donald Trump to thank.  I'm not sure we're in the same places as the 10 top markets for 2011 but I do think they are right.  There really are some miraculous deals to be had today.

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Posted by Heather Burke & Sarah Ireland on March 22nd, 2011 2:09 PMPost a Comment

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