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Housing Market Stabilizing
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The L.A. Times had a positive article today indicating that the housing market is starting to stabilize. Key pluses included:
- 32% increase in sales in
L.A
County
from Feb. 2008
- Prices in Feb. held steady
- 22% rise in housing starts (nationwide) over January
You can see the full article at: http://www.latimes.com/business/la-fi-homes18-2009mar18,0,472405.story
Other positives: arcitects are reporting more contracts, Rob Levy at Wells Fargo Bank tells me that loan applications are way up.
This could be the bottom of the market. If you are looking for a good investment or just a new home, this could be the best buying opportunity you will see. I have 2 to 4 properties priced so that they generate immediate cash flow with a relatively low down payment -- the first time I have seen opportunities like this in
L.A.
County
since I started real estate. |
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Posted By - Jeff Curtis - 03/18/2009
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