2008 & 2009 Will Prove To Be A True Buyers Market

With the festive season of 2007 over it is time to plan and predict the future ahead.

Malibu’s Real Estate Market is sometimes referred to as a micro-cosm of the national market as a whole, what happens here is an important indicator of what else is happening countrywide.

With December being a time when home sales slump - understandably, everyone is busy doing the festive shop and do not give a thought to purchasing a home or moving. With all the bad press you would think the market nationally was static in 2007, however it was the fifth best year on record in terms of sales and the level of inventory went down.

2007 had higher mortgage rates than todays market and since the Federal Rate has come down .75% this week - and looks like it is going to fall further, the chance of owning a home at a great price with a mortgage which is good value for money looks like it is here.

Of course, in Malibu the median home price is six times the national average and for 2007, it was the best year over for home sales over $5 million.

With 2008 in full swing and 2009 on the distance horizon what is now a buyers market looks like it is beginning to turn as the smallest hints of recovery may have been seen.

Watch this space!

If you are interested in buying a home in Malibu, the Pacific Palisades or Santa Monica are then please contact Judy Kunisaki on 310-317-8396.

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