OUR MARKET IS NOT SOUTHERN CALIFORNIA’S

Every Friday night my husband, who works in LA, comes back to our home in ABQ with the Los Angeles Times. The headline this Friday was Southland Home Prices Tumble Fast as the region sees a 19% decline from the peak in less than a year and experts expect a continuing slide. Just to put it in perspective, in 1991 the average home price was $200,000 and by 2007 it jumped up to $505,000. So call me crazy, but a 19% decrease isn’t so bad given the outrageous growth. I mean it was unreal. Certainly, if one had bought at that peak and need to sell soon, it will be a shock. I remember when I lived in LA our house value made great swings and I just lucked out in buying and selling at the right points in the cycles. For us here in NM, we have no idea what this kind of market is like. And we don’t have to worry about earthquakes and mudslides either. All and all, I am glad to be here!