According to reports from GAVAR the local MLS (multiple listing service) Antelope Valley's April home sales soared 152% over the same period last year with 866 homes sold. The majoring of those sales were foreclosures.
The Antelope Valley Press indicates that the sales prices have dropped 47% with the average sales price being $122k. The area had almost six thousand homes available on the market in the summer of 2007, and that inventory has dropped to just under two thousand. Foreclosures and short sales have decreased the prices dramatically to price not seen since 1995 according to a local escrow officer.
Many of these are first time home buyers, and investors looking to buy when the market is down, and rent to those who have been foreclosed upon. We look around at the available properties on the market in December, and many of these homes were vandalized and in need of extensive repairs. Some condos were sold for as little as thirty thousand, and homes in not as desirable neighborhoods for forty five thousand. It is a buyers market for both homes and vacant land.
Prices have dropped also in vacant land to ranges not seen since 2004. The savvy investors have been buying in this market. Homes maybe best for the local investor, but low priced vacant land is great for an investor living outside of Los Angeles County. You don't have to be concerned with vandalism, tenants, or maintenance cost with a land investment.
If you are looking to take advantage of low price then this is the prime time to do so. Contact vacantlanddeals.com today and if they don't own the parcel then they will locate a prime low prices property for you.
