Manhattan Beach Pier
There may just be a little light a the end of the tunnel providing the entire California economy doesn't decide to go south in the next week or so. The Anderson School of Economics in their report on Tuesday thinks California may escape a recession but the economy will be so-so.. or as the Daily Breeze put it.. the economic outlook is stinky! Who knew that would be considered good news.
Sales in Manhattan Beach have seen a definite upswing since the middle of February. While the numbers certainly don't reflect anything approaching the numbers posted in the last few years they sure beat those in the 4th quarter. Since March 1, 2008 there have been 15 homes and 8 townhomes go into escrow.. slightly better then one property per day.
There are more buyers that are ready to buy then many believe. Manhattan Beach is not the only city seeing an increase in the number of buyers willing to purchase. I'm guessing that many are tired of waiting for prices to drop the predicted 30%. Others have figured out there is an opportunity to make a pretty good deal with sellers who are ready to sell. Loans are getting more difficult to get for those with "average" credit scores. Rates are not moving down but rather seem to be poised to continue upward as the credit markets struggle to find their way through the errors made in the last few years.
There may just be a little light a the end of the tunnel providing the entire California economy doesn't decide to go south in the next week or so. The Anderson School of Economics in their report on Tuesday thinks California may escape a recession but the economy will be so-so.. or as the Daily Breeze put it.. the economic outlook is stinky! Who knew that would be considered good news.
Sales in Manhattan Beach have seen a definite upswing since the middle of February. While the numbers certainly don't reflect anything approaching the numbers posted in the last few years they sure beat those in the 4th quarter. Since March 1, 2008 there have been 15 homes and 8 townhomes go into escrow.. slightly better then one property per day.
There are more buyers that are ready to buy then many believe. Manhattan Beach is not the only city seeing an increase in the number of buyers willing to purchase. I'm guessing that many are tired of waiting for prices to drop the predicted 30%. Others have figured out there is an opportunity to make a pretty good deal with sellers who are ready to sell. Loans are getting more difficult to get for those with "average" credit scores. Rates are not moving down but rather seem to be poised to continue upward as the credit markets struggle to find their way through the errors made in the last few years.
I suspect many savvy buyers think this may be a good time to test the market and see what happens before rates go up.
Manhattan Beach: Market Snapshot March 13, 2008( click on graphs to enlarge)
Manhattan Beach: Price Ranges March 13, 2008
Manhattan Beach: Market Snapshot February 26, 2008
Manhattan Beach, CA: Market Snapshot February 11, 2008
Manhattan Beach, CA: Market Snapshot December 12, 2007
Manhattan Beach: Market Snapshot November 8, 2007
Manhattan Beach: Market Snapshot October 12, 2007
Manhattan Beach: Market Snapshot September 29, 2007
Manhattan Beach: Market Snapshot September 15, 2007
Manhattan Beach: Market Snapshot August 25, 2007
Manhattan Beach: Market Snapshot July 18, 2007
Manhattan Beach: Market Snapshot June 25, 2007
Manhattan Beach: Market Snapshot June 2, 2007
Manhattan Beach: Market Snapshot May 6, 2007
Manhattan Beach: Market Snapshot April 23, 2007
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