When I look at this real estate market in the Inland Empire 1) of California, I am finding that this storm of declining sales and prices is just starting to pick up steam. When I reviewed sales and pending sales information from the Inland Valley MLS I find that the numbers just keep dropping. When I review foreclosures on foreclosureradar.com all I see is that the number of Notice of Defaults (NOD) and Real Estate Owned (REO) homes keep going higher and high every month. When I look at the trends at altosreasearch.com everything I see is tracking towards a declining market. All I can think of at this time is hold on tight ladies and gentlemen I think the eye of the storm will be this coming winter. The pressure of the lending and housing market will start wearing on our economy and we will be welcoming a recession, then the real estate market will really tank. I can't wait to look back at this post come February of 08 and see how well I did at calling this one. Hey all you investors out there, get ready a buying time is just around the corner. For those of you that can't wait five years for the market to finish it's correction, visit empireteam.com and I will be more than happy to help you sell your home. Empire Realty where Full Service at a Discount lives.
Talk to ya soon.
RJH
1) For those of you that don't know where the Inland Empire is, it is about 40 miles east of Los Angeles and is made up of many cities some of which are Upland, Claremont, Rancho Cucamonga, Fontana, Chino, Ontario and on and on.
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