Malibu Real Estate – What Does 2009 Hold for Real Estate?
With 2008 well and truly behind us and 2009 certainly underway the question many are asks is: “What is going to happen with Real Estate in 2009?” well, it is a good question, but not an easy one to answer. One agent on Realty Times has expressed their view on the 15 things which they expect will happen this year. They are backed up with good reason. This could be thought of as a rough guide or a potential prediction.
1. Mortgage rates will drop, then rise, and finally stabilize
2. Investors will come back into the market in 2009.
3. Buyers will jump off the fence and come back into the market!
4. Sellers will become creative with alternative ways to add value to their home sale with incentives.
5. Listing Inventory will go down as the market absorbs inventory
7. Real Estate agents will leave the industry in record numbers
8. Builders will use auctions to sell off inventory; many will leave the business entirely
9. New home inventories will reach record low numbers in the fall of 2009 as existing inventory is cleared.
10. Consumer confidence will improve in the spring of 2009- hence, whilst working with a good agent is key!
11. Appreciation will be small to nonexistent in most markets as the industry stabilizes
12. The rental market will BOOM IN 2009!
13. “In demand” homes will become the “safe necessity” of 2009 (homes closer to school/work & “greener” homes)
14. Real estate companies will merge in 2009
15. Second home markets will see far less activity; many will suffer in 2009
Many of the detailed reasons for each of these items points towards using the right agent with the right tools to help a buyer find and purchase a property in 2009. If you are looking for a home in Malibu or the surrounding area we can help.
If you are interested in purchasing a property or selling a property in Malibu, Pacific Palisades or the surrounding Beverly Hills/southern California area then please contact Judy Kunisaki for professional real estate advice in the Westside Los Angeles area, on 310-317-8396 or via her online contact form on her website.
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