Housing Prices - Direction - Victor Valley, CA (Los Angeles, Riverside: short sales, foreclosures)

[FurnitureMan]

Where do you think housing prices is headed in the Victorville, Apple Valley area? I know there is still a lot of foreclosures/short sales on the market. Do you think the prices have stabilized? Do you think there will be more pain? How long before bottom? What percentage decrease do you think is still possible?

Any locals that can chime in? Prices are low now, but are they low enough?

[rotorholic]

[LQQKOUT]

Where do you think housing prices is headed in the Victorville, Apple Valley area? They will drop some more. And won't go back up for around five to ten years.
Do you think the prices have stabilized? I still believe there is going to be a high flex in the stabilization for the HD.
Do you think there will be more pain? Yes
How long before bottom? Probably not until end of next year, or around re-election time for the governator!!
What percentage decrease do you think is still possible? 4-8%
Prices are low now, but are they low enough? In some cases yes, in other no still growing pains. Or shall I say recession pains.

[LAStreetPreacher]

During hyperinflation which is where we are headed in the next 4 years money goes into hard assets and tangibles like commodities, gold, silver, food etc but I believe since the housing market is 6 years into the after crash we may be finding a bottom in the next 3-12 months.

Bottom pickers only get smelly fingers as one stock market guru told me. Now is the time to be looking if you have the cash or a secure job where the industry you are in is growing.

House prices may drop a bit further 5-10% but if you plan on holding for 5-10 years prices should flatten and then head higher at smart money finds it way into house in the country and desert areas.

People tend to move out of the big cities like Los Angeles and into areas less dangerous and stressful.

[antarez]

Originally Posted by LAStreetPreacher

During hyperinflation which is where we are headed in the next 4 years money goes into hard assets and tangibles like commodities, gold, silver, food etc but I believe since the housing market is 6 years into the after crash we may be finding a bottom in the next 3-12 months.

Bottom pickers only get smelly fingers as one stock market guru told me. Now is the time to be looking if you have the cash or a secure job where the industry you are in is growing.

House prices may drop a bit further 5-10% but if you plan on holding for 5-10 years prices should flatten and then head higher at smart money finds it way into house in the country and desert areas.

People tend to move out of the big cities like Los Angeles and into areas less dangerous and stressful.

Trash from San Bernardino and LA is also moving into the High Desert.

Just read the Victorville Daily Press on a regular basis and you'll see story after story of gangbangers and other criminals from "down the hill ( LA)" who are arrested for local crimes.

I've seen plenty of people in the last year or so around the High Desert with gang tattoos from Los Angeles.

BTW the prices are still dropping, a large percentage of the High Desert's population commutes to work in LA, Orange, Riverside and elsewhere in SB Counties and with the price of gas going back up it's getting expensive for alot of people.

[Mojave82]

Wasnt that long ago that youtube had videos of new houses being destroyed in VV. Value will drop big in the Victor Valley. The prisons and the failed SCLA were the death nail for this area. I just dont see it recovering. VV has developed such a bad reputation for crime and gang violence no one wants to buy a house. Nothing like 3-4 families of illegals crammed in one house to drive the value down the drain. Sell while you can.