The Wheels are Turning

There’s nothing like a little positive reinforcement to get the wheels turning. That was the case last week when some colleagues and I heard one of my favorite economists, Mark Boud of Real Estate Economics, present a five-year economic and housing forecast for the Inland Empire.

All indications are that the market here is shifting into a positive cycle. Distressed housing inventory is trending downward; new home construction is near an all-time low, housing affordability is near an all-time high, and employment throughout the region is on the rise.

For me, this all points to one thing: right now is a great time to buy. To paraphrase Sir Isaac Newton: “for every action there is a reaction.” Recently, the “action” has been less-than-positive for the I.E., but the market is starting its correction and the “reaction” is going to be scramble to find viable, buildable home-sites in key areas.

The wheels are definitely turning at the Rancon Group, and we have a growing inventory of approved, blue top and finished lots in areas such as Perris, Wildomar, Winchester and Temecula. If you’d like to know more about our properties, or investment opportunities, or if you have a distressed property and need some help in asset management, give me a call.

 

Author

Jim Lytle

 

Jim Lytle

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