We Have a New President…
November 13, 2008 by Christe Roknich
At last, the presidential election cycle has ended. The new team is meeting with the old team, and preparing for the January transition.
Opinion is mixed as to whether or not the new administration and its policies will have a significant impact on the economy. If and when it does, everyone agrees that even with fast action, the changes to our nation’s financial condition will be gradual. The U.S. economy is more like a cruise ship than a speedboat – turning things around is a slow process, not a one-day event.
But with all this uncertainty, did you know that in Orange County there are 217 homes in escrow right now priced above $1,000,000, including 55 of these priced above $2,000,000? In a high-priced market, such as ours in Orange County, these numbers admittedly don’t impress. But…you may not realize, per the Southern California MLS, compiled by us today, that there are 3,639 properties in escrow priced under $1 million! Now that is an impressive number, and one worth highlighting. 3,639 homes in escrow….although fewer than in the market a few years ago, that’s still a surprising figure.
Picking a bottom in the market is often considered to be a “fool’s game”. If you think that we’re close, now might be the time to begin accumulating real estate again. Call us at (949) 240-5892, or send us email us to discuss your plans!