real estate market

A Window of Opportunity for House Sellers

Uncertainty is the word of the hour in real estate but there are several factors  the KCM Crew lay out below that are pointing to the fact that there may be … A Window of Opportunity for House Sellers.

There has been much confusion as to where housing prices are headed. We have actually blogged on the issue recently. Today, we want to give our opinion on this subject for the short term. We believe sellers have a window of opportunity for the next 90-120 days in which to sell their homes for maximum price. We believe there will be increased downward pressure on home prices later this year and the first half of 2012.

Why renewed downward pressure

This is not the only reason why selling before the summer is over may be a very smart thing to do.  Refer to the piece I wrote about the upcoming reduction in the GSE limit on September 30th.  Homes above the new price range will become harder to sell as there will be less buyers who can get financing for them.

Orange County Stand-Alone Home Prices Move Above $500,000 Mark

The median price of an existing Orange County home moved back above the $500,000 mark in September, while the pace of sales here remained sluggish, the California Association of Realtors said Friday.

The median price for an existing stand-alone OC home sold in September was $510,530, a nearly $11,000 or 2.2% increase from August, and a 2.8% increase from the prices homes here were selling at a year earlier.

The area’s median sales price now is up about 21% from the recent bottom of the market, seen in January 2009, according to the association’s figures.  Read the rest of the story: