Is the housing market in Nor CA going to be better next year?

Question

Is the housing market in Nor CA going to be better next year?
We live near Stockton and will have to sell either this year or next. Any forcasts on which year would be better? Is there a place to get this kind of info on the web?

Answer 1

One can only hope. Predicting real estate trends accurately is little more than a crap shoot. 2008 is an election year. ANYTHING can happen in an election year as we all know!

If you're in the black right now and property is still selling well and you KNOW that you must sell either this year or next, putting it on the market right now might be the sanest option.

Sure you MIGHT lose out on some appreciation between now and then, but that would be far better than sitting on a property next year that has dropped 20% below your mortgage balance and sales have stagnated.

I'm not saying that that's what will happen in No Cal -- I have no clue -- but the market IS volatile in some parts of the counrty and areas that have experienced the highest recent increases in values are the ones that are most likely to experience "corrections" in the near to mid term.

Answer 2

Information on housing is notoriously stacked against the consumer.
Real estate information is deliberately lacking to keep you ignorant of what you need to make a wise decision.
I know this isn't exactly what you are looking for, but I guess I'm just saying dig deep and take everything you hear with a grain of salt.