I enjoy looking through View Magazine in Orange County California. This week's headline got my attention  "Real Estate Remains Hot in Orange County." I didn't know it was hot so I researched the references.
First the median home price is up 14%. It is but it's still 35% below the peak and I think the rise is due to Fannie Mae raising it's loan limits to $729,000.
And second Case-Shiller predicts home prices to rise 6.6% in 2010. That's good news but we're down 48% from our highs.
The article says now may be the best time to buy before home prices continue to rise. My caution is this, if you need to buy a home and you plan to live there 10-15 years, this a great time to buy. If you're planning to flip houses and invest short term, stay away. I think prices have a little more downside to come.
OC View Magazine
New Home sales surge in the West
OC Median home prices $50,000 off bottom
California seen as top market in 2010
Is Nightmare over for O.C. Brokers
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