Real Estate News for Wednesday, January 21st, 2009

New-home sales in Southland fall 53% in December.  Bargain hunters are busy snapping up foreclosures and other distressed properties, causing sales of all homes to rise 51% last month.  New-home builders are putting a pause on building, waiting until the market recovers.  The Southern California median home sales price in January 2008 was $415,000 and by the end of the year the median price had slid to $278,000.  December median sales prices were $180,000 in San Bernardino County and $209,000 in Riverside County.

California Has 8 of 10 Worst Real Estate Markets.  But still, it's California, we don't have to worry about a shortage of people wanting to live here.  The state may be issuing IOU's to taxpayers this year, but the weather is still fantastic year-round, which almost makes it worth the trouble!  The 8 trouble areas include Los Angeles, Stockton, Riverside, Sacramento, Santa Ana/Anaheim, Fresno, San Diego, and Bakersfield.

Honestly, despite all the bad media press, I'm busier than ever.  As you've probably noticed, I have even less time to blog now.  Sales in the area have been increasing, but the prices keep dropping.

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