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Wednesday, Mar 18, 2009Area home sales up; prices lag
Posted by dgore
GRAZIADIO IN THE NEWS
Business professor Dennis Torres, executive director of real estate operations at Pepperdine University said that he continues to see 2009 as a benchmark year, during which prices will continue to fall. He predicted that the market would plateau in 2010 and remain stagnant with only slight increases until around 2015.
“The good news is I think we have hit bottom, so you can afford to buy,” he said. “The bad news is it was not a good year.”
Torres said there will be more loan activity, more incentives to help people buy homes, and more programs to help those in financial trouble — but there still will be foreclosures. [Full Article]
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