Buying or Selling a Home/First buyer

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Expert: - 6/18/2011


Question
Hello,

I need your advice regarding buying a home. but first let me tell you about my self briefly which will help you to advice me accordingly.

I just came to USA in sept 2009. I am going to college and also started my own small business or computer and cell phone repair.
I am the only person working in my family and my parents are living with me.

right now i am renting an 2br apartment for 1095/month

but for the last 2-3 weeks i am wondering that if i am paying rent why not having my own home. what do you thing.

if you can please tell me what are my options and what are the pros and cons of having your own home rather than renting it.


I also have question about international real estate investment. i know people from Middle east, who want to invest here in US specially in the Silicon Valley.

Thank you for your time in advance.

Regards,
Mansoor Safi

Answer
Hi Mansoor,

Welcome to the US.... I applaud you on wishing to have the American Dream of owning a home.... You will need to seek the advise of a financial advisor, number one to see if you have the 'cash' to purchase or the means to qualify for a loan.

$1,095 is a very low living expense, so as a business owner who may need to put cash reserve into your new business, you may not want to take on the over head restrictions of property ownership.

Also to consider is where you believe the market is heading... I feel we are still trending down, the economy has not recovered and not bottom out till 2015... of course as always and economy is anyones guess.... but all the indicators are arrows down ... that doesn't mean there aren't good deals out there ... there are most certainly great deals all over...

Good luck

Buying or Selling a Home

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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!

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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.

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