Short Sale Diva

I am sure your friends have your best interest at heart and they may not know how real estate works. Real estate goes up and down, it always has....if you buy at the wrong time (1990 to 1995 and between 2005 and 2008) and with a toxic loan then you may have a bad taste in your mouth for real estate. Maybe some of your friends purchased at the height of the real estate bubble and their homes have lost value.

You need to purchase after the bubble pops not while it’s being inflated. I work the Downey area and I believe that Downey has bottomed and prices will be low and increase a little within the next few years, but they will come back up again. Of course, not to the levels that it did in 2006/2007 and no one knows at what rate homes will appreciate but prices have no where to go but up, but that’s just the real estate cycle. The danger of waiting is your interest rate can go up and so can the cost of getting a loan: loan points, title insurance, homeowner insurance, private mortgage insurance, escrow fees.

Buying a house is more than just a financial decision, it’s a place where you are going to build a home for your family. If you find that right place at the right price, what does it matter if prices fluctuate up or down, if you are planning on staying for at least 5 years, you’ll be ok. If you are buy to flip and try to make a quick profit, then I say you might be treading in dangerous waters. If you are planning on flipping for a profit, I wouldn’t be able to help you but if you want to buy a “home” then I can most certainly help you. Please call me. - Thu Jun 2, 2011