8/02/2006

Current Housing Price Picture

Just lately there's been a lot of media focus on the condo prices, i.e., they're falling, but if you read closely, the articles are about certain markets. Condos closer to the coastline in Long Beach are anywhere from $300,000 up to $1,000,000 plus. With the slower market, buyers and sellers are each hugging their own trees, waiting for other's to fall down first. Condo conversions are in oversupply in some markets, but in the coastal areas of Long Beach, condos are still an entry level home buy for otherwise expensive single family neighborhoods. As Kenneth Harney says here, "scour the market for properties that may never be cheaper, or even available."

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