· Home prices often are driven by immigration, birth rates, the size and nature of households, and incomes – all of which are difficult to predict. Forecasting where jobs and income growth will be stronger and where immigrants and others will want to live is key. Areas with lower housing costs, modern industries, leisure businesses, well-diversified regional economies, mild climates, and other attractions likely will attract future homeowners and drive demand for housing.
· Coastal areas tend to be more volatile, and often have home prices that rise and fall much faster during booms and busts than do inland areas. Land shortages and building restrictions, which often are the case in crowded coastal areas, make it difficult for builders to respond quickly to sudden rises in housing demand. Inland areas tend to provide more vacant land, enabling builders to meet housing demands more quickly, minimizing sudden movements in prices.
· Some housing experts believe that baby boomers will be much less likely to settle in traditional retirement areas, such as Fort Lauderdale, Fla., after they retire and may prefer urban settings with cultural activities, friends, and family in close proximity. This could increase the housing demand and drive up home prices in urban neighborhoods. Additionally, the retirement of baby boomers over the next two decades – approximately 78 million boomers – may depress home prices in some areas, as more boomers sell their homes.
· Due to the low interest rates and low prices there has been a lot of activity including multiple offers on properties, especially bank owned. Price in various areas of San Diego & Riverside Couties are showing signs of leveling off. The demand and recent/future government actions will contribute to an increase in buyer activities. 2009 will be an exciting year to buy or invest in real estate. If you would like to view all homes, condos or bank owned foreclosures (REO). Short sales, listed for sale, please visit our website at: County Properties San Diego or County Properties Riverside