If your market is anything like mine, its a mixture of standard sales, REOs and Short sales. We've been waiting for the "shadow inventory" to pop for the last couple of years. I've been reading that it has been in decline as a lot of what was in the shadow inventory has been handled as a short sale.
Apple Valley, its going to be a while before we see anything positive. Seems like folks are leaving the high desert left and right. While we are a collection of bedroom communities and have some of the most affordable housing, the price of gas is enough to make one want to live closer to where they live in the IE or LA areas. We have a lot commercial property for lease.
A lot of us Realtors here are getting their broker licenses and then working from home so that we can make a living. Then too, some are hanging their RE license with companies down the hill where the price points are higher. I just obtained my broker license, but it will be a bit before I go out on my own. In the HD, I will be working from home, and I also plan on having a branch office down in Riverside. I have my name on a waiting list for a small office space that goes from month to month down there.
I don't see any new jobs up here and unemployment here has been in the high to mid-teens. I personally won't believe that we are recovering until we start building new houses, most of available commercial space is leased. It is an election year and I think everyone in the industry is on the sidelines until that's over.
I have been seeing some HARP refis, so that's a good thing!
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