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 August 14, 2008

Many California Homes Selling at a Loss
One out of four people who sold their home recently, in the United States, are reporting selling their home for a loss. Fifteen percent of those were foreclosures. The California real estate market has been one of the States hit with a high foreclosure rate, making up for nearly half of all sales.
Areas like La Jolla and Del Mar have not seen prices drop like many areas in California. In fact, La Jolla has seen prices stabilize and even increase in some cases. Experts are remaining optimistic about home values and many homeowners think that their home value has increased and are expecting their home values to remaim stable, or increase in the next six months.

In my opinion, the drop in prices throughout the state of California have been normal, considering the dramatic increase in prices over the years. Other states that have been hit hard as well are Arizona and Florida.