Housing Forecast for California

California has been battered by 30% unemployment, increasing bankruptcies and an economy in shambles. The state is a classic example of the consequences of unethical mortgage lending practices tinged with Wall Street manipulation. Real Estate has survived through unprecedented financial losses. California has faced the worse economic meltdown since the Great Depression. Nonetheless, housing markets are poised for a faltering U-turn in some parts of the state.

A recent spurt in sales has slashed the inventory of homes in some neighborhoods of the San Francisco area. In the Bay Area, home prices will have to drop further before activity resumes to match the demand. The forecast for San Francisco is a 6.8% deflation for the year. The situation is likely to be worse in Silicon Valley and the Bay Area where housing deflation is projected to touch 8.9%.

A realtor from Santa Clara County

Dale Warfel is a real estate agent with 13 years of dedicated experience in the real estate market, who operates in buying and selling homes in San Jose. He has a number of foreclosed properties on his listings that are available at bargain prices. Dale Warfel is a Certified Short Sale Professional (CSP) who has come to the assistance of many a distressed homeowner facing imminent foreclosure. For information on available San Jose homes for sale or real estate properties in Santa Clara County and for assistance in short sale negotiations, call Dale Warfel at 408.624.6202 or email him through his website www.dalewarfel.com.