Palos Verdes real estate as well as real estate throughout the country has been in the news a lot lately. I have read that it is real estate that is bringing us out of the economic slump as it is the source of so many jobs from construction to finance to retail. The Los Angeles Times even had an article over the weekend entitled, “Selling season isn’t waiting until spring.” It is certainly true for Palos Verdes homes that there are more buyers than sellers and we know what that means…
Dave Liniger, Chairman and co-founder of Remax, has his own predictions for the upcoming year which will be good news for all of us:
More buyers and sellers return to the housing market.
Home sales increase 6-7 percent while home prices increase 3-4 percent.
Inventory of for-sale homes will hit bottom.
Higher-priced listings begin to sell more.
The number of distressed properties continues to drop.
The shadow inventory continues to fall.
Short sales rise, reaching a peak.
Mortgage rates rise slightly by year’s end from record lows.
Lending remains constrained for home buyers.
Home affordability remains at record highs.
Photo of the Palos Verdes coastline courtesy of Arvin Design
