Modesto Real Estate – Luz Martinez

While many real estate professionals bemoan slow sales, and many homeowners fret over foreclosure, there’s another side to the ongoing slide in buying and selling homes.

Some buyers have been able to take advantage of falling prices, and some sellers still are able to cash in.

What it means is that even though there are people hurting in this real estate downturn, there also are people who have found a silver lining.

If you bought a house in 2001, you’re fine. You’ve seen the best of times,” said Ken Rivera, manager at American Pacific Mortgage in Modesto.

Despite recent declines, Stanislaus County’s median home sales price in September was $300,000, which is nearly double what it was in 2001, according to DataQuick Information Systems.

Rivera explained that the slump in prices and values is negative only if you’re trying to sell your home or refinance your loan.

He said the angst about the current state of real estate suffers from the same flaw that caused many of the problems in the market: a perspective that’s too short.
Read More at ModBee.com
By BEN van der MEER