Californians; We are a resilient group of Americans.  Is it only Californians that have this gut level feeling that everything is going to turn around?  Talking to people of many ages and backgrounds, this week, who have lived in California a really long time, there is this down deep, gut level feeling that the real estate cycle is spinning toward the upward direction. The reason they feel this is because they have experienced this cycle before in California.

Here is what I am seeing and hearing:

• Multiple offers on “normal” sales, short sales and foreclosures
• Less negotiation on distressed sales (indicating we are at market bottom)
• Vacancy rates in apartments becoming higher due to those residents buying homes and moving out
• Lots of all cash buyers who have been waiting on the sidelines
• Current homeowners moving up as property tax basis is lower and interest rates are fantastic.
• Foreclosure sales decreasing
• Good news from real estate economists!

-Marilyn