PENDING SALES ON THE RISE

Lawrence Yun, NAR chief economist, said sales have been in a pattern of rising and falling within a fairly narrow range. “The vacillation of data from one month to the next indicates a housing market in transition,” he said. “The rise in pending home sales was broad-based with all four regions showing gains. This is welcome news because a rise in contract activity is necessary for an overall housing recovery. With a tax credit now available to first-time home buyers, increases in home sales could be sustained with the momentum carrying into 2009.”

IS OUR MARKET STABILIZING?

According to the Office of Federal Housing Enterprise Oversight, the Pacific Division -- which includes Hawaii, Alaska, Washington, Oregon and California -- saw a price increase in May of 0.3%, its first price jump since March 2007.

"It is very hard to draw conclusions from a one-month number, especially in these uncertain times; but the numbers in the Pacific, East and West North Central Divisions may be good signs," Ofheo Director James B. Lockhart said in a statement.

Ofheo's monthly index is based on the purchase prices of houses backing mortgages that have been purchased or guaranteed by Fannie Mae and Freddie Mac.

SELL YOUR SAN CLEMENTE HOME

Are you ready to move but have to sell your existing home first? In this market, the buyer has the advantage. You, the seller, need to make sure your property is not only ready to be shown but is also priced right.

While your friend, the Realtor in Huntington Beach may give you a discount on your commission, San Clemente is not your typical beach community. Hire a Realtor that is familiar with San Clemente and your neighborhood. Since San Clemente has such a diverse housing market, Realtors tend to specialize in neighborhoods. This gives them the ability to stay on top of trends in your neighborhood. We all know that your home is your biggest asset and one of the best investments you can make but when you are faced with a Buyers market, price is everything.

Go to Bankrate.com to read 8 tips for pricing your home in a buyer's market.

To find a San Clemente Real Estate Specialist, visit our website