Lisa Lorlis with Century 21 in Orange County and Lake Elsinore, California believes that home sales in the Inland Valley area of Southern California are slowing down because of rising gasoline prices. According to Lisa, the usual crowd of Orange County home buyers searching for larger homes are avoiding the drive to Lake Elsinore.

The sales most affected are the typical resale large homes for move-up buyers. Homes priced in the $500,000 - $800,000 range sit longer on the market with fewer buyers and more homes for sale.

The low end of the market seems to keep moving, People always need housing. Orange County prices prevent many first-time buyers from buying a home near work.

Lake Elsinore residents make the trek over the Ortega Mountains or drive the crowded 91 freeway. The toll roads help a little, but the gridlock at the end of the "FastTrack" lanes adds time to the commute. After paying $7.50 for the toll (one way), you can understand that gasoline prices and tolls add up. (The tolls charge varying amounts according to the traffic. You know when you see a high toll that you NEED to pay or sit for a long time on the "parking lot.")

Another commuter problem is the closure of the Ortega Hwy due to construction. Workers need to get "over the hill" at the right time or drive around.

How are higher gas prices affecting homes sales in your area?

What other economic conditions are changing the way you do your real estate investing?

Please reply in the comment section. We want to know what's happening in real estate markets around the country--or the world.

Jeanette Joy Fisher
America's "Dream Home" Maker
Joy to the Home(TM), Design Psychology
Homes for glorious living and top-dollar sales
http://www.jeanettefisher.com