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So What About the Local Imperial Valley Real Estate Market Anyway?

June 21st, 2011 No comments

So what about the local Imperial Valley real estate market anyway?

by Frederic Din, REALTOR(r)

View listings & photos on your phone, text GOTO IVREO to 95495

It’s no secret and it’s been all over the news!  If you haven’t heard about it, then you may have been vacationing at some exotic locale without news or internet access, or perhaps you’ve desensitized yourself to any real estate news, or maybe, just maybe you don’t really care.

A recent May 31, 2011 CNBC News article headline reads “‘Double-Dip’ in Housing Prices Even Worse Than Expected” and says, “US single-family home prices dropped in March, dipping below their 2009 low, as the housing market remained bogged down by inventory and weak demand…”, the link above takes you to the entire story.

Another article from June 20, 2011 found on The Patch headlines “Housing Market Still a Challenge for Both Buyers and Sellers” says “…homes continue to sell if priced right…”, the link above takes you to the entire story.

So, what about the local Imperial Valley real estate market, how are we doing?

In talking with people all over the Valley, I’ve heard stories from all across the spectrum, from those who are facing foreclosure, to those who are doing a short sale and those who are struggling just to keep up with their mortgage payments, however the same type of sentiment exists, “with the economy being so bad…” and “…its hard to find work and keep a good job…”, it can seem like its all doom and gloom.

For some, the doom and gloom is nothing but a large cloud on a windless day, it seems to linger and those simply need hope, a reason to continue moving forward, a silver lining in the clouds so to speak.

While I don’t claim to have all of the answers, I can speak with authority of what is taking place in my local real estate market.  As an Imperial Valley real estate expert, I see the silver lining, the hope, and the passing storm that seems to linger, I see that proverbial light at the end of the tunnel.

Will we see the lofty and crazy high home prices from just five years ago in the near the future, probably not.  Will we see some steady growth or incremental growth in home prices within the next few years?  Absolutely!  As a matter of fact, we are already starting to see signs of stabilization and perhaps the end of the declining real estate market.

Imperial Valley listings, info & photos on your cell phone, text GOTO IVREO to 95495

Since June still has a few more days, I did a three month search of sold properties in the Imperial Valley, covering residential single family properties, condo, and town-homes.  The analysis covers the months of March, April, and May 2009, 2010, and 2011.

Year        # Sales       Ave Price    Median Price    Days on Market  (DOM)

2009        423            $128,759    $128,000             67

2010        370            $129,158    $129,400             39

2011        326            $132,018    $132,000             57

As you can see, the three month block of home sales show a steady increase from the low of 2009, which contradicts the CNBC story since they are looking at things on a national level. Real estate is local, local, local and is even neighborhood based.

I am seeing stabilization in many areas throughout the Imperial Valley while other areas are still showing signs of weakness and pricing declines.

How do I know this?  What you may not know is about thousand people each year use and trust my real estate evaluation skills and the best way to show their appreciation is to pay me for my advice.  These people include big and small companies, as well as individuals, banks, credit unions, lenders, insurance companies, and private investors.

I see first hand through these mini-appraisals, or BPOs and property evaluations what real estate pricing trends are taking place throughout each city in the Imperial Valley.

This is one of the main reasons my clients are successful in getting their offers accepted by knowing what is taking place in the market and analyzing their offer against the other homes on the market.

Obviously there are sellers who do not want get involved with financing offers and would rather have a cash offer or large down payment conventional financing versus an FHA, VA, or USDA loan, however knowing what the market will accept is a big help to clients everywhere.

In closing I have to say its a great time to buy a home, whether you’re a first time buyer or a seasoned investor, a someone who is looking to trade-up to a larger home, or even a downsizing, the market mix of low home prices and low mortgage interest rates make this a great time to get off the fence and start owning your home as opposed to renting and paying somebody else’s mortgage for them.

To learn more about buying your first home, check out my How To video called http://firsthomebuyervideo.com to learn more.

How can I help you?  Feel free to visit and post comments regarding the website and stay tuned for upcoming changes to the look and feel of ImperialValleyREO.com

Are you in the market to buy a home?  Get personalized information for any area in the Imperial Valley, including El Centro, Brawley, Calexico, Imperial, Heber and surrounding cities by going to ForSaleByFred.comGetRealWithFred.com,
ImperialValleyREO.com, or First Time Home Buyer Video

Imperial County homeowners who are considering selling their home are encouraged to contact Frederic Din, REALTOR(R) for additional information about getting the most current market values for your home or area.  Member of the Imperial County Association of REALTORS (ICAOR).

El Centro real estate – Brawley real estate – Imperial real estate – Calexico real estate – Heber real estate – Imperial County real estate – Imperial Valley real estate – Imperial Valley REO – Imperial Valley MLS

Imperial Valley listings, info & photos on your cell phone, text GOTO IVREO to 95495