There was one recorded sale in South Palm Springs for the first day of July. As always, original list price is listed in parentheses.
7/1/08: 1569 S La Brea Rd, Los Compadres, 3/2 1560sf, $535,000 ($549,000)
Russell Hill, 760.902.3121 RussellHill.net
3 comments:
R-
How long 'til you think the market turns around and begins an upward rise? Have we hit bottom yet?
I wish I had a crystal ball! I do think that until the foreclosure mess has run its course, we're in for a downward pressure on prices. Having said that, many of the foreclosure properties are selling (there are lots of buyers looking for great deals), so perhaps we'll see an improvement in early '09? I don't belive we'll see the appreciation that we saw in the last boom for quite some time. We'll probably see modest increases for several years. Of course, there are still lots of boomers to retire........
Unfortunately, I'm sure you're right. Thanks for the feedback.
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