| According to an analysis of current California real estate statistics, residential real estate investors are the most rapidly growing population of buyers in California.RightNow Consulting announced today the results of a research project analyzing purchasing activities of California residential real estate buyers. Preliminary July 2008 residential property data reveals that the percentage of residential purchases by investors has risen from 6.74% to 11.41% since July of 2007. This represents a 69% increase in year over year proportional activity.
Despite fewer financing options and lots of bad publicity, investors are taking an aggressive stance. "We wondered whether investment activity might have increased in California given current market dynamics, but were truly surprised by these results," says Dan Miller, CEO of RightNow Consulting. By any measure, the increase is an encouraging nod to the perceived long term value of California real estate. Despite the doom and gloom, for investors and home buyers still sitting on the sidelines, favorable interest rates and price declines might push the California real estate market towards a recovery a bit sooner than expected. .... Full Press Release: Source
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