Prices Don’t Lie, If You Dream About A Malibu Home, Now May Be The Best Time To Buy

by ritasimpson on May 29, 2012

in How's The Market

Don’t take a real-estate agent’s word for it, but prices and increase in sales volume don’t lie!

For Buyers that have been dreaming of purchasing property in Malibu, It’s time to wake up and take action. So many factors are coming together to make this the best time to buy and this opportunity will not last.

Prices are down and have stabilized, Interest rates are low, foreclosure inventories are light and expected to decrease and demand is high.

On the LANDSIDE PROPERTIES, Median prices have decreased a mere 1% in the last 12 months and Sold Prices have been firming up averaging 98.56% of asking prices in the last six months!

For BEACH FRONT PROPERTIES, Malibu had a 34% run up in the Median of Sold Home Price in the last 12 months even as on average prices were more negotiable with the average Sold Price closing at 85.5% of asking.

With interest rates at their lowest, yet with a potential for a reversal per revelation that a majority of the FEDS Open Market Committee are diffident about Bernanke’s promise to continue his near zero interest rate policy through 2014, Buyers are taking steps to secure their best deals now as Low Interest rates may not last.

With the S&P/Case-Shiller index of home prices  stabilizing in 20 major cities, CoreLogic’s national home-price index up in late winter and rising in recent months at the fastest pace since the bubbly spring of 2006, and the Federal Housing Agency’s purchase-only house-price index up 1.8% in March from the prior month all signs indicate timing could not be better for Buyers to take advantage of the unique factors. Be Ahead of the Tape.

 

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