California Real Estate Market Outlook Worse in 2008
Luckily, this doesn’t impact the 21st Century Farm Project too much since we were appraised as a commercial property and only had a 5% appreciation value considered rather than the residential appreciation at 20% per year.
It does explain why Anthony Olivier may have printed his own currency when MadCap Software moved recently. It’s rumored that the savvy timing netted MadCap more than just a bigger space.
Quoted from California Real Estate Market Outlook Worse in 2008:
“We’re in a major slump here,” said Jas Deepak, a real estate agent with Help-U-Sell Affordable Homes. “It seems like it’s a freefall in this market.”
Deepak estimated that prices in the Fairfield area have fallen 10 to 15 percent from 2006, and last week only 10 homes were sold out of 1,300 on the market. Last October, about 30 homes were selling each week. Deepak is the agent for a nearly 1,500-square-foot ranch home on the desirable west side of Fairfield for $369,000. Four months ago, the property was listed for $415,000. If the price is reduced any more, it will be a “short sale” in which the seller must ask the lender to accept less money than what is owed.
Posted by Charles in 21st Century Farm Project, California, Family | Comment now »
