Interest rate vs. sales price

Notice to all the buyers who are sitting on the fence and waiting to see if prices decline further:

If interest rates increase 1%, that's equivalent to 10% in purchase price.

Ask yourself, "Which do I think is more likely - interest rates increasing 1% or sales price dropping another 10%?" Are you willing to bet with your bank account?

This is the best time to buy in Southern California in a generation. Take advantage of it while you still can!