We continue to see more national articles that support our theory that the real estate prices on the Central Coast are starting to stablize, particularly in the Santa Maria and Orcutt areas. In an article entitled “Real Estate Outlook: Worst is Over“, Kenneth R. Harney identifies some more signs of improvement in the housing market and some reasons for the signs.
The Wall Street Journal printed an article today that backs our May 1st blog. James R. Hagarty writes in “Home Sales Rise in Hard-Hit Areas
In it, he mentions, as we did, that lenders are pricing foreclosed homes more aggressively and that sales are up in those areas that are hardest hit. This is the situation for Santa Maria and Orcutt real estate.