The real estate market is not falling chicken little

Certain areas are so popular that they don't seem to be heavily affected by this real estate slump the media wants to procreate. New York's Manhattan is not slumping the market is growing from supply and demand. The same applies to Beverly Hills and the Westside of Los Angeles and then there are suburbs that begin to be hurt from the media. The supply is there and the demand is there but people panic...they feel that the media is right and that things must be getting bad just because they say so. A house was sold in our neighborhood in one day for full rice and then the buyer hears on the TV that the slump is here and prices are falling so he changes his mind and decides he wants the house for less. The owner won't do it and the deal falls through...everyone loses. More later...

Oak Park is a small suburb of Los Angeles just outside the county line and into Ventura county. While running around looking at homes for sale and speaking with the locals who are feeling a panic about the recent media claims that the market is falling, I realized that if everyone would just calm down and stop selling their homes in a panic…there wouldn’t be a reason to panic and home prices would not fall. Not in this area…anyway. This is a popular area because of the schools and the family “neighborhood” feeling. Most who live here love the local shops and the kids playing in the playgrounds, people who say hello to each other and the lack of the hussel and bussel of the big city that is so close you can spit on it and the traffic from the freeways that are a way to get to the big city where many work…and look forward to coming home to this neighborhood.