Hi G,

You're sooooo right! It's an awesome time to buy right now and especially in the Inland Empire. All throughout the area we have great real esate at bargain basement prices.

My company, Renttoday.us is a property management firm located in Ontario and deals mainly with real estate investors and most who are buying in the area right now but definitley have plans to continue buying for at least the next 2-3 years. The favorite seems to be condos ranging anywhere from an unbelievabel 30k-90k. You can also get great single family residences in areas like Ontario, Chino, or Fontana in the low 200k's that would make great rentals or even owner-occ housing.

We also have a huge number of REO properties on the market that are listed at really great prices and I'm positive that those prices will continue throughout 2010.

The best bet for you would be to continue to keep your eye on prices, save your money, keep your credit clean and when you are ready....jump in the market!

If you are planning to purchase rental property, make sure you give our offices a call or go to our website at http://www.renttoday.us for all the information you need on rental prices in the area and property management.

I hope this has been helpful to you! Good luck.

Sincerely,

Mia Melle, Broker
West Coast Property Specialists Inc. / Renttoday.us

About West Coast Property Specialists, Inc. (WCPS):
West Coast Property Specialists, Inc. (WCPS) is a residential asset management firm managing an expanding portfolio of single family residences, multi-family units, apartment buildings and condominium communities located throughout Southern California (Riverside, San Bernardino, Orange, San Diego and L.A. Counties). WCPS operates as an umbrella of companies consisting of Renttoday.us - a premier on-line rental database and property management portal; Fix’D Construction, a full-service general contractor servicing the firm’s entire real estate portfolio performing services ranging from minor rent ready to complete property rehabilitation; and Bale Investments Inc., which is the newest addition to the WCPS family of companies. Bale Investments is a real estate brokerage firm catering to large portfolio investors specializing in facilitating bulk sales of residential portfolios from one investor to another. Additional information is available at http://www.wcpsinc.com

Hi, Gcr

No one actually knows how much the home prices are going to drop. Although through the grapevine, they forecast that home prices are going to trickle down little by little.

Good luck,

Jes Sierra, B.Sc.
Realtor®

It's hard to tell to be honest with you. It I had all of the answers I would choose tomorrows winning lotto number! j/k

I don't see prices rising or dropping too dramatically but it could go wither way. There will be several factors that are going to come in to play in the next few months that will give us all a better indication of what will happen with the real estate market.

1. Whats going to happen with all of the "shadow inventory"? There are around 7 million homes in the U.S. that are in default and should have been foreclosed on already but the lenders are trying to save money by modifying these loans. Sadly only around 15% of these borrowers will qualify for a loan mod which leaves 5,950,000 homes waiting to be foreclosed or sold via short sale.

2. Are the lenders going to foreclose or allow borrowers to short sale this "shadow inventory"? It would break the real estate market if the lenders choose to foreclose on all of the homes in default and put them on the market at the same time. It would be like the bubble bursting all over again and probably trigger another recession. It would be best if they allowed short sales on all of the property because short sales cost less to process than foreclosures but who knows what those guys are gonna do?!

3. For the past year or so the Federal Government has been purchasing long term bonds which keeps long term interest rates lower on 30 year mortgages. NEWSFLASH: The Fed recently stopped buying these long term bonds which will see 30 year mortgage rates rise from the historic lows we are experiencing right now. So right now is probably the best time to get a loan regardless of the purchase price.

All of these factors will play a role in the real estate market in 2010. I advise you to get in touch with a savvy Realtor and Loan Officer who can keep you up to date on the market trends as they change. This will also allow you to get your game plan set for when you are ready to buy.

I hope this helps!