Market Conditions - Bob Waldron, Westside of Los Angeles, CA, Realtor

California real estate expert Bob Waldron is reporting that there has been a slow decline in values in the Westside of Los Angeles since the top of the market in 2006 -- and area that is comprised of many communities with varying price ranges -- and is a very desirely area to own and live in.

Each community in the Westside has its own distinct feeling and character.

In the areas of Bob's expertise, single family home prices can start as low as the $500,000's and go up to the millions.

Due to the availability of financing in the lower price ranges with conforming loans and FHA loans, they are experiencing more sales than in the upper ranges.

And there are some attractive opportunities for buyers in this market.

It is Bob's opinion that the market may settle down some time in 2009.

Many of Bob's collegues in real estate that he networks with believe that it is too early to make predictions of when the market may bottom out.

However according to one leading real estate economist in California, some markets may reach the bottom in the second half of 2009.

It is Bob's belief that communities with lower-priced homes that offer more affordable housing for first time buyers will rebound first.

When financing becomes more readily availabe for buyers, more sales will start to occur.

Bob believes that we will have a better idea in the next 6 months what direction this real estate market is going.

Although we have alot of negative news regarding the economy and real estate, Bob is opptimistic that 2009 will be better.

With real estate -- and financing -- becoming more affordable, more first time buyers are seeing this as an excellent time to pursue their dream of home ownership.

With an increase in the sale of entry level homes, the pool of move-up buyers will increase and create a more active real estate market.

Bob is encouraging all of our buyers to become educated in this market to real estate values, get pre-approved for a loan and write offers.

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