Home Buying in 90240>Question Details

Jing Chen, Real Estate Pro in 90240

I would like to buy a condo in LA county, when is it the best time, shall I wait a bit longer?

Asked by Jing Chen, 90240 Thu Mar 13, 2008

Help the community by answering this question:

Answers

8
Connie De Groot - (310) 913-1184’s answer
Hello Jing,

It is quite an unsual time in real estate now, and it is hard to predict what the future will hold. The thing we do know is that, unlike the previous boom years, we are certainly in a Buyer's market. As long as you are qualified, you have the chance to find INCREDIBLE deals in Los Angeles that might not have been there the past few years. Your home is not only an investment- it is your HOME. With a little investigation, you might find that now is the time to get a great deal. Each situation is different, depending on the buyer, the loans available to them, the property and the location- but at least look into the possibility so that a great opportunity doesn't pass you by.
1 vote Thank Flag Link Thu Mar 13, 2008
Did you find the home you were looking for? Would you share your experiance, and how was trulia.com helpful?
0 votes Thank Flag Link Sun Nov 11, 2012
Yes, for the answer for a 2008 question but No for 10-27-12 question as the home prices have pretty much bottomed out and are now on the rise. Get approved and buy now before you miss the boat.
Do you have down payment and closing costs saved? You may qualify for FHA CHF Access half percent down payment with a minimum 580 fico score which can also contribute towards your closing costs as well. Here is a flyer, needs list and income limits to qualify.

CHF Access half percent down flyer, pdf
http://tinyurl.com/9ewk9nq
Sheryl Arndt, standard needs list checked, pdf
http://tinyurl.com/9m2rsb2
Why Rent brochure
http://www.frankandsheryl.com/Documents/Why%20Rent%20brochure…
http://www.frankandsheryl.com/Documents/Why%20Rent%20brochure…
CHF Access income limits http://tinyurl.com/8lzf8he

http://www.Under640FicoScoreLoans.com
http://www.FrankandSheryl.com

http://www.under640ficoscoreloans.com/Pages/ContactSheryl.aspx
Sheryl Arndt, Broker – Sr. Loan Officer
DRE# 01440252
NMLS# 297251
760-486-4225
0 votes Thank Flag Link Sat Oct 27, 2012
Truly, no one really knows how long it will take for the market to adjust, but we do know..that right now is a buyers market. Sellers are serious and ready to negotiate in order to sell their properties. I would start looking now.
0 votes Thank Flag Link Fri Mar 14, 2008
Hugo, what I am seeing just this week is that most of the properties (REOs) are going at almost to above list price. Most of the homes and townhouses I am showing my clients are being sold in multiples, so we are not able to negotiate much on these. I didn't expect this to happen for a few more months.

Last weekend while showing properties there was a constant flow of anxious buyers in and out of each property - most of the homes had just dropped their prices by $40k-$60k and they seemed to be a hot ticket.
Web Reference: http://www.DotChance.com
0 votes Thank Flag Link Thu Mar 13, 2008
First and foremost, I think that you need to be a bit more specific about the area that you're seeking. Los Angeles County is a very big place and therefore there are different real estate market pockets that are experiencing their own ups and downs in this market. What may be a good purchase in one area, may be a less favorable purchase in another. With that being said, I think that right now is the very best time for a buyer. Rates are low, prices are stable and a buyer can come in at a reasonable price and pick up real estate for less. Negotiating is the name of the game and your REALTOR must be able to cope with it on your behalf. Now none of us know the future, but what we do know is that this market will bounce back and a buyer's ability to haggle will shrink. So, if you like a house and you can buy it at a reasonable price, negotiate for it. There is no better time then now.
Web Reference: http://www.hugotorres.com
0 votes Thank Flag Link Thu Mar 13, 2008
Hi, Jing:

Here is an interesting article that may help you decide when it is right for you to buy:
http://www.swiftpage3.com/RogerHance.RogerHance/C08030517490…
Web Reference: http://www.DotChance.com
0 votes Thank Flag Link Thu Mar 13, 2008
Jing,

You may be about ready! Market conditions are being to settle. I'd start looking and doing your homework, bu don't rush into if you can wait. Sometime in the next 6 months may be the best time. I really like working with Mark Shea. He is a very honest and knowledgeable person. Call him on his cell at: 858-761-5233
Please let Mark know we referred you. You can truly trust Mark.
Visit our site and if you are ever interested in investment property in the southeast, let us know.
Best of luck!
Marian Schaffer
The Schaffer Realty Group
877-886-8388
http://www.marianschafferrealty.com
0 votes Thank Flag Link Thu Mar 13, 2008
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer