At the California Association of Realtors convention, there was much of the same news we've been hearing (or living). But there were some faint glimmers of hope in the Economic Forcast. Robert Kleinhenz, an economist for CAR, stated "We think the credit crunch has a short timeline, and that it will be behind us before this year is out".
While the number of home sales is forcast to fall 9% in 2008, that is actually an improvement from the estimated 23% of this year. Mark Schneipp, director of the California Economic Forecast Project in Goleta, felt that median prices would have some more downward movement, but there would be a 10% increase in sales in Coastal areas in the second half of the year. Music to our ears in Ventura County Real Estate.
I heard an ad the other day for a lender that compared this market to a self cleaning oven. When does the timer go off?
You know how people get that "deer in the headlights" look during a real estate transaction? I guide them through that process. For "Stress-Less" Ventura Real Estate, give me a call!
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