I've been asked this question alot due to the current market we are dealing with here in Santa Clarita, Ca and my response is always the same, every market whether up or down has a purchasing strategy. Things you should take into consideration when purchasing, time horizon and reason for buying, mortgage interest deduction, the new $8000 dollar tax credit from the 2009 economic stimulus plan, and the fact that the current interest rates are approaching all time record lows.
If your finances are solid and you can afford the home you want with a conventional mortgage and you're buying for the long haul the time may be right. And for some buyers, the market is secondary to the reality of family life. Some examples are the impending arrival of a new baby or job relocation, these may be the deciding factor to whether now is the "right time" to buy.
If your finances are solid and you can afford the home you want with a conventional mortgage and you're buying for the long haul the time may be right. And for some buyers, the market is secondary to the reality of family life. Some examples are the impending arrival of a new baby or job relocation, these may be the deciding factor to whether now is the "right time" to buy.
The key to success in buying discounted property is a clear understanding of a home's true value. Being able to spot a property that is below market value is critical to successful real estate investing. With that knowledge in hand, buying low and selling high becomes a simple matter of waiting for the right property to appear.
For investors and first-time home-buyers, remember that all real estate is local, and some markets are doing better than others. If you're a buyer, the current real estate market may be the opportunity of a lifetime to purchase a home at a reduced price. If you are looking for a discounted home, you may be able to save thousands of dollars if you shop wisely. As a Realtor focusing on helping homeowners avoid foreclosure through the short sale process, I've witnessed lenders approve short sale transaction 15 to 20% below fair market value. This is an amazing opportunity for those in a position to wait the time it takes to get these deals approved.
If you're a first-time home-buyer and you've never purchased a home, let alone a distressed property, it is beneficial to contact a local real estate agent who specializes in distressed properties, they can guide you through the process of buying a short sale or REO. An educated agent will make sure they know your priorities. Ask any potential agents if they have experience with distressed properties, especially for first-time buyers, a good agent can be a comforting and helpful resource.
If your interested in buying in Santa Clarita, the San Fernando Valley, or Ventura County we'd like the opportunity to earn your confidence and business. Please view our website at http://www.riccosellshomes.com/ to learn more about us. You can also login into http://www.santaclaritavalleyhomesforsale.listingbook.com/ to monitor the value of a property with a Daily Market Analysis and search for homes. You can Contact Jennifer & Gary Ricco, Certified Distressed Property Experts, at Keller Williams VIP Properties. Office # 661.290.3837
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