Its almost the Thanksgiving and from now until mid January shopping for homes is usually not a top priority. According to the National Association of Realtors the pending home sales index is 1.2% lower then at the same time last year. This is the first time in 29 months that we have actually seen a dip. The good news for buyers is now is the time to get a deal! Homes are sitting on the market a little longer making for some opportunities for motivated buyers. Homes in Newport Beach, Costa Mesa, Huntington Beach, and Irvine are still at least 30% off their highs in 2007 and the current rates are considerably less then they were then. Most national economists still expect prices to rise in 2014 albeit at a slower pace. Historically the pending home sales index increases from January-August so with rates near 4% now is a great time to buy!
Remember your basic economics. Right now supply is a little higher then it has been and demand is low so the prices are a little softer right now.
Dave helped us buy our first home this year and we wouldn't have been able to do it without him. He made the entire process much easier on us than it should have been. Dave is extremely responsive, a great negotiator, and real knowledgable about the OC real estate market. In mid 2013 he got us our home for lower than the listing price which was unheard of during that time. I've referred several friends to Coastal Real Estate Group and wouldn't hesitate to use him for my next home purchase. - Jonathan S.