Jeannie Niles Real Estate Investment
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Headlines or Facts?
We keep hearing dismal reports that make great headlines about the current real estate market, but keep in mind that downturns are by location and not across the board. Southern california is looking pretty good!
From Housing market enters season of reckoning:
“We don’t think the market is in that bad of shape,” said John Karevoll, an industry analyst for DataQuick InformationSystems. “It’s just not in as good shape as it was two years ago.”
Some real estate markets are holding up remarkably well. In southern California, for instance, a mid-priced home sold for a record high of $495,000 in February, a 5 percent increase from the previous year, according to DataQuick. Although the numbers haven’t been crunched yet, Karevoll believes Southern California home prices reached another new high during March.
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Seven properties went into escrow in October.
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For Coachella Valley
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Multi-family properties have been the hardest hit segment in the desert area for number of sales during the current real estate downturn.
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I am always frustrated how the media and other trade groups use statistical data to prove the point they want to make, thus I like to do my own statistical research.
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It can be very profitable purchasing bank owned properties in the current real estate market.
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Some of the most outrageous episodes in property ownership that the owners lived to tell about.
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Only 5% sales agents or brokers actually own investment property, and only 10% actually sell a property.
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Jeannie Niles Real Estate Investment
P.O. Box 317
Palm Desert, CA 92261
P: (760) 360-4020
F: (760) 340-9069
E: jniles@realestate-investment.com
