Market Conditions in Lompoc>Question Details

Snset78, Home Buyer in Lompoc, CA

What would you say the buyer market is at this moment? Is it good time? Or better to wait? What will the market do in 5 years from now?

Asked by Snset78, Lompoc, CA Sun May 13, 2012

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Real Estate agents will always tell you its a good time to buy. I have been an appraiser for 15 years, and it's still a buyers market. Rember real estate is very local, meaning markets can be quite different county to county state to state. It is a good time to buy but drive a hard bargain if you are qualified. You can find good deals if you are willing to wait. If you look at DOM days on market, higher the number the better chance of cutting a deal. In 5 years who knows what will happen.
0 votes Thank Flag Link Fri Jul 6, 2012
I would say that we are no longer in a "BUYER's MARKET":
The inventory is very low, only about 60 day's in many areas.
The prices have been rising, particularly on the price-ranges that are most desired; lower-middle.
The Investory have cherry-picked all the low end houses, and the higher-end houses are pretty much slower.

No one has a crystal ball; particularly 5 years from now: Too many factors come into play, politics, ecconomics, unemployment, world affairs, etc.
You have to be optimistic; or else move to the mountains and grow your own food.
0 votes Thank Flag Link Sun May 13, 2012
What on earth would you wait for? Lower interest rates? Not likely. Lower home prices? I doubt it, some areas are seeing increases. This has to be the biggest "no brainer" time to buy in the last 25-35 years.
0 votes Thank Flag Link Sun May 13, 2012
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