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Buying or Selling a Home/Is now a brilliant or terrible time to buy?
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Question
Hi there! Thanks so much for being a part of this great site.
My wife and I have always rented, we're in the L.A. area
and are expecting our first child in July. We're in a
2 bedroom right now and would love to find a bigger place
with, perhaps, some yard space of our own.
We've been getting a lot of conflicting advice about
whether this is a good or bad time to move...whether it
is a brilliant or awful time to buy...and whether, since
we're relatively happy renting, we should ever buy at all.
I guess I'm just seeking more and more advice?
I'd love to hear what you think,
Kevin.
Good question Kevin,
And it all depends on your personal situation. Congratulations on the up coming event! Big changes are in the wind for your family. I am a firm believer that there are always good deals to be had in real estate. Even at the top of the market I helped clients achieve purchases that today they could not.
You need to look at your financial situation, short and Long Term (most important) the home you buy today, you may end up having to hold of a decade or more... so keep that in mind, the flip days are pretty much over...
Your ability to obtain financing is the most challenging today...the market place has removed many loans that made it possible for people on commission, who have income from unconventional sources etc. For those who are W2 and have a steady job history, you need to have the correct debt ratio to the qualifying bank you are applying with along with substantial FICO scores... There is the FHA alternative, but is has challenges also....
so all that being said... Yes it is a great time to buy... the market price may come down more ... but the ability to obtain financing is more important than price sometimes ... and I am also a firm believer that a home is NOT just an investment vehicle.... this is where you will live, play and be... the Family! create memories... you need to buy in a location that you are ease coming home to and making payments against...
An investment property is not always in the best neighborhood you can afford...
I hope this helps you make a decision... I would be glad to assist you if you need any help finding the right persons and professionals to turn to...
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Answers by Expert:
- Dick Dennis
- Jessica Bryan
- liznarr
- Hans Weber, Licensed Broker Associate
- Sue Bernstein
- Karyn Foley
- Dottie Worthington
- Jim Root
- Russel Ray
- Connie Wildasinn-Broker,GRI,RealtorŪ
- Todd C. Menard
- Diann Tonnesen
- John Hendricks
- Jay Denit
- Matt Heisler
- Lisa Webber
- John
- Laurie Stephenson
- Marvin G. Bobbitt, III
- Nori J. Muster
- Sharon Huneycutt, Realtor, Associate Broker, GRI, e-PRO
- CJ Brasiel
- Jeff Kessler
- Kathryn Hisert
- Emily
- Ted Lewis
- Kerrin Kostelic, FL Broker Associate, GRI, AHWD
- Tim Norris
Connie Wildasinn-Broker,GRI,RealtorŪ
Expertise
Broker,GRI,RealtorŪ, Investor since 1979. Buying or Selling Residential and Income/Investment Properties, How to understand the process, how to negotiate through the transaction, What to Look for - But more importantly 'What to lookout for!', How to tell if the time is right - or hold on and wait. Why not to listen to your friends and even your family members, Who really has your best interest at heart?. Understand why any market is a good market and how to spot a good investment for you! If you are looking in California.. check out my website www.MetroCalBrokers.com and if you need assistance in a neighborhood I don't service, I will locate a local agent to that area who actually knows their profession and can assist you in your needs!
Experience
4th generation Realtor in the real estate business, I have helped for over 2 decades clients buy and sell, I am the owner of a local brokerage in the Los Angeles /Long Beach area, and have been a top producing agent in the area since I became licensed. Working through a deal is different to every client, no two people or deals are exactly the same. Knowing how to bring professional advise to the table with clear and concise understanding of real estate world. I can help you handle your buying, selling and investing, managing a 1031 Exchange, working with Equity Sales, Probate, Pre-Foreclosure Regular and Short Sales there is little that I have not seen come across my desk over the decades!
Organizations
NAR,
CAR,
WCR,
ABR,
e-Pro,
GRI,
BKBIA,
CHNA,SSG
Publications
Broker Agent Magazine
Long Beach Business Journal
Long Beach Press Telegram
Signal Hill Tribune
Grunion Gazette
All Experts
Zillow - Lead Agent - Advise Expert
Truila - Advise Expert
Education/Credentials
Broker-owner,
RealtorŪ,
GRI,e-Pro,
SSG-Short Sale Certified
Awards and Honors
Managing Broker for MetroCal Brokers. We merged my old brokerage with MetroCal this year, and we look forward to expansion and growth moving forward. We currently employ 30 Realtors and growing.
15 years running top selling agent in Long Beach, South Bay area California.
Top Producer 5 years straight Re/Max, C21, Realtyworld.
Past/Present Clients
upon request = or check out our website www.MetroCalBrokers.com and check the Testimonials section!
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