Based on anecdotes from real estate agents, I’ve learned that condos that sold for $600,000 in the Pico-Robertson area in 2007 now go for about $520,000.
On the other hand, rents have not decreased. They’ve been going up steadily over the past four years as more people switch from owning a home to renting. Thus, there’s more demand for rentals and prices go up.
I’ve also noticed the odd home boarded up around the community. I assume that is because of foreclosure.
I cover real estate, refinance and mortgages at the following blog:
August 9, 2011
August 7, 2011
August 4, 2011
- The Smothering Effect Of Government Regulation
- Changing The Debate On Mortgage Finance
- The Perfect Time To Buy A Home
- We’ve Socialized The American Dream
- Mortgage Insurer May No Longer Be Able To Issue New Coverage
- Mortgage Interest Rates Keep Plunging