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Buying or Selling a Home/Should I buy this year? Or keep renting?

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Expert: - 2/11/2009


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.

Answer
Dear Kevin;
Of course I don't have a crystal ball to know for sure; but all indications suggest that the market will become stronger...soon.  If that happens prices will soar and interest rates will also go up.  This is an ideal time to buy!  You can take advantage of low prices and unbelievably low interest rates.  There will also be some outstanding tax advantages as part of the proposed incentive package.  To me, this is a 'no-brainer!'  The only thing that might cause someone to not buy is if you are worried that you might lose your job and not be able to make payments.  If that were to happen you wouldn't be able to pay rent either.  So, in short...take advantage of the market and take the plunge.  You will stand to make a tidy profit when you sell as long as you sell when prices go up again.  

Best wishes,
Jessica Bryan

Buying or Selling a Home

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Jessica Bryan

Expertise

buying and selling process such as:
General questions from first time buyers
How to market a home
Why choose a REALTOR
How do I find a REALTOR
Should I consider buying or selling without a REALTOR--how much can I save
Should I remodel or move
How much can I expect to gain by fixing up my home before selling
Helpful tips when selling
Helpful tips when buying
finding a good mortgage loan
what is the difference between banks, mortgage bankers, and mortgage brokers
Questions from the general public, people thinking about getting their real estate license, newly licensed.
Fellow professionals who have interests in networking and how to get started
What is a market evaluation and how does it differ from an appraisal what are the different loan programs
services a REALTOR can perform
when to use a lawyer
when to use escrow
what are the regional differences in the buying and selling process
what is the MLS and how does it work
how can the layman access information on the web--listings and other information
These are just a few of the questions. I can suggest that if I am unable to answer a question I will refer the inquiry to a source that can.

Experience

Anyone who is in this business and who dedicates oneself to professionalism has continued to take classes and along with it,additional credentials, awards and honors. I can list a host of them, but my greatest accomplishments happen to be those of getting first time buyers (who didn't think they could afford to buy a home)into a home of their dreams. The look on their faces when I hand over the keys is worth all of the hard work.

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