HOME SALES ARE UP BUT WHAT ABOUT THE ELEPHANT IN THE ROOM?

Yes, as reported by the AV Press today, home sales in the Antelope Valley (Palmdale / Lancaster, CA) are way WAY up from last year ... here's the numbers released by the Greater Antelope Valley Association of REALTORS:

• 773 homes sold in March 2009 (282 in March 2008)
• 2111 Homes sold Jan 2009-Mar 2009 (654 sold Jan-Mar 2008)
• Average sales price $129,390 in March 2009 (DOWN 46% from March 2008)
• Average sales price $140,401 Jan-Mar 2009 (DOWN 44% from Jan-March 2008)
• About 2500-3000 active listings (DOWN from about 5500 Q4 2008)

So what does this mean? A few things, in my opinion.

First of all, prices are at a level that many homes can be purchased here in the Palmdale / Lancaster area for about the same or less than it costs to rent. Why throw your cash down the toilet by handing it to a landlord when you can be buying your own piece of the American Dream?? If you have good credit and can prove your income, there are plenty of banks dying to give you a loan contrary to all the BS most media outlets (or even your own President for God sakes) would have you believe! Loans are being made every day and I've got the closed transaction history to prove it!

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