Please Not Another "Have We Hit Bottom Post"

I know I know....but doesn't it seem like some of the bad news is starting to get crowded out by some of the positives lately.

Just last night I heard on KABC TV in LA that there is lots of proof that LA and Orange County real estate have hit bottom.

I looked all over for the video but cannot find it anywhere online. Meanwhile Zogby Aol just released a poll showing that over 50% of Americans believe that home ownership is still attainable for everyone.

• 31% of participants feel their home is worth more than it was a year ago
• 56% do not think their home will be worth less in five years
• 69% of Americans seeing real estate as a viable investment.
• If forced to sell their home today, 50% would buy another home rather than rent
• Almost 50% of Americans would seriously consider purchasing a home through a foreclosure listing.
• 67% of Americans surveyed turn to the Internet first when looking for a home.

These numbers are consistent with other recent findings. However, the disconnect is the trust in the American economy seems to still lag. So what comes first?

Other interesting findings: What are the Key Factors when searching for a home?

• Communities with low crime
• High-quality schools
• Recreational facilities
• Easy commute to work

One interesting take is that there is a significant percentage of respondents that indicated that they would pay a premium for a home if they could cut their drive time by half.

Comments

[Real Estate Raj]

31% of people think wha?? Where do these poeple live?

[greg]

I am a realtor and I do believe that we have pretty much hit bottom. I think condo sales and the over all real estate market is starting to pull back up. You will see sales up in 09. greg moser