Jul 17 2008
OC home prices on a downword spiral
It used to be that even the smallest of homes and condo’s in the OC were almost unattainable. The past three years have been ridiculous for homeowner, great for first time buyers. So my real estate agent tells me that we have not seen the worst, within the next year, homes will be destined to drop even lower and all the poor fools that were somehow bewitched my ARMS loans are forced into foreclosures, short sales even bankruptcy. The price we pay to live in Orange County, how sad! Homes around where I live used to be well in the $ 800,000.00 to 1,000,000.00 +, however, now prices have dropped to the $500,000.00 range still high for the average individual, however, a substancial loss to the homebuyer who purchased their home at the higher price. Things are not looking good around here, I have never seen such a crowd at the local .99c store. People are definitely hurting rich and poor, so as prices keep going down, hold on tight because what goes down must come up, and if you ever wanted to live in the OC, now is your chance……..come on over.
