Here is one more reason to really look close and take opportunity to buy now!

Rates are still low while prices are coming down..As we can read here under..a couple of months from now might make the difference in making the right move or missing the train.

I am here and available all summer (yes even with 100+ degrees of heat) 

The credit crisis is under control, but with inflation now the top concern, higher interest rates can be expected, said former Federal Reserve Chief Alan Greenspan last week.

Greenspan said he thought the credit crisis had peaked in March. “I think the worst is over (for the U.S. economy) if the financial crisis is over,” Greenspan said via video link to an event in Mexico.

But to keep inflation under control, Greenspan said the Fed will have to tighten monetary policy and that will drive up interest rates.

I know now that I am not “dreaming” and that it is true the market is turning and not only in Palm Springs area…This might be my best year ever is sales of real restate…

I must be doing something right or is that just luck ? Or I am not living on the same planet ? 

National Association of Realtors chief economist Dr. Lawrence Yun delivered a pep talk last week to agents in Miami, which he described as “one of the ground zeroes” for the downturn in the United States.
Dr. Lawrence Yun“The downturn is a short term phenomenon,” Yun told attendees at the Realtor Association of Greater Miami & the Beaches’ annual international congress, assuring the audience that key economic indicators remain strong. “The good news is that [the market] appears to have stabilized,” the NAR economist said. Valuations in mid-level cities like Miami, Las Vegas and Phoenix will grow 10 to 50 percent over the next five years, Yun predicted, a sharp contrast to the forecasts of continued declines offered by some economists. (Although the financial community might not be inspired by the possibility of a paltry 10 percent increase over five years.)

Yun warned of “pessimism in the marketplace,” suggesting that the media and the daily negative headlines are driving down the market. “Psychology” can turn into a “self-fulfilling prophecy,” he said. “You have to fight the self-fulfilling negative psychology in the marketplace.” Yun was a bit vague on data to support his optimism. He touted an un-sourced survey which suggested that “77 percent of homeowners” don’t believe prices will decline, which is akin to basing the weather report on news that 77 percent of the people don’t think it will rain. (And it also suggests that people are not all that pessimistic, despite that darn media.) Part of the reason for the stabilization in Florida, Yun noted, was an 80 percent drop in housing starts. That’s reduced the supply of shiny new Mediterranean villas, but it hardly represents a healthy industry. And he didn’t attempt to predict the fate of what he called “superstar cities,” including Los Angeles, New York and San Francisco, which he said “defy gravity.” But he did assure the audience that “99 percent of markets will have a higher value in five years.” 

Yeap this is the time of the month…Statistics!! see the page in the site :http://www.claudinereal.com/Area_Sales_Statistics.htm

Here is the update for the sales statistics for May 2008..approx. same number of sales, prices came down a little bit but still it is not STOPPED..I am giving you here the table of sales for May 2008 and May 2007 to compare :

• In Rancho Mirage prices came down 18% in one year
• In Palm Springs prices came down 20% in one year
• In Palm Desert prices came down not even 1%!!in one year
• In La Quinta prices came down close to 14% in one year
• In Indian Wells prices came down close to 15% in one year

So with all this noise and panic..done by the media …we are far from the 40% and more,  announced, we hardly reached the 20% and in average for the Valley 13.6%!!!

Love to hear your comments!!