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Housing Market Stabilization is Here
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More and more articles are supporting what I have been reporting over the past several months: the housing market is stabilizing. In July, California homes sales were up 14.1% over a year ago, as reported in the L.A. Times article linked below.
http://www.latimes.com/business/la-fi-economy22-2009aug22,0,1933819.story
Although prices in California as a whole are down, we are seeing a much stronger stabilization trend in Pasadena. In addition, inventory is down more than 60% over a year ago in the western San Gabriel Valley. I will continue to keep you updated on trends, in the meantime, if you know someone interested in buying or selling property, I would greatly appreciate your referral.
One other note, I have recently been selected by Asset Link, a leading network of services for lenders looking to enable short sales, as one of their partners to handle short sales for large institutions in the San Gabriel Valley. If you have friends or neighbors facing some difficult challenges due to their finances, I have received three seperate designations to help owners with pre-foreclosure decisions. I would be happy to review their situation and provide options.
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Posted - 09/04/2009
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