Thanks for the advice.
Some suggestions: (1) Look into purchasing a HUD Home. HUD Homes are always an option when purchasing and looking for affordable housing. (2) Be flexible. Be open to Short Sales currently these purchases take a little more time to purchase than bank owned properties, but with dedication you can get a good deal on a home.
If you are interested in purchasing...I work with my mother, Rosemary Brooks as the Mother & Daughter Realty Team, we specialize in the Weston Ranch area and we would be more than happy to assist you and your family. We offer a weekly FREE List of active HUD Homes on the market. We also specialize in listing and purchasing short sale properties. Like us at http://www.facebook.com/motheranddaughterrealtyteam for updated market and purchasing information.
"A brighter economic picture, coupled with record-high housing affordability, pushed the spring home buying season off to a strong start," said C.A.R. President LeFrancis Arnold. "With a continuing improving economy and interest rates declining to new record lows in recent weeks, we should see a steady improvement in the housing market throughout the end of the year."
Closed escrow sales of existing, single-family detached homes in California rose to a seasonally adjusted annualized rate of 555,300 units in April, according to information collected by C.A.R. from more than 90 local REALTOR associations and MLSs statewide. Sales in April were 10 percent higher than March's pace and 11 percent higher than in April 2011. The statewide sales figure represents what would be the total number of homes sold during 2012 if sales maintained the April pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales.
The statewide median price of an existing, single-family detached home climbed 5.7 percent in April to $308,050, up from March's revised $291,330 median price and 4.7 percent from a revised $294,140 recorded in April 2011. The median price rose above the $300,000 mark for the first time since December 2010.
Combine all of these factors above with the record low interest rates that we are enjoying, and then add in that the fact that there is a shortage of inventory, and you have the makings of a housing recovery on the horizon. The housing market has already stabilized in Weston Ranch. We've sold three homes there in the last few weeks and we received multiple offers on all 3 properties with buyers competing aggressively for the homes.
Give us a call at 209-951-5555 or visit us on the web at http://www.ChristianChristopher.com. All of our Realtors are college educated professionals. We are not a conglomerate or a franchise. We are a local company. We are personal agents, and we are basic in our approach (honest, fair dealings) but aggressive with our services. We have the patience, knowledge and the technology to get you what you want! Our website is the most updated in the area, guaranteed. You can search homes across the San Joaquin area and beyond, right from our website.
There is no place like home, and Christian Christopher Real Estate can help you get there.
How much are paying for rent now?
With you income tax deduction, this would approx equivalent to $1100-$1200 per month.
Something to think about.
Good luck and may God bless
Rocky G.H. Hawrysz http://www.TeamHawrysz.com
Prudential California Realty
(209) 444-6610 - Office
(209) 915-6209 - Mobile
I'd like to add that it's not so much that home prices are increasing as much as it is that home inventory has decreased. Especially nice homes that don't need rehabbing to make them livable.
Therefor you end up with few homes on the market with many buyers looking to buy them.
Supply and demand. That's pretty much the main reason (In my opinion) for what you're seeing happening.
I recently listed an REO that was in really nice condition and we received 23 offers in a very short time. Many offers were well over the listing price, but the bank chose to go with a cash offer for a quick close of escrow.
This similar scenario is happening in many areas of the central valley.
Great deals are still out there, but you need to be approved and quick in order to make the deal happen.
Factor in that government and the banks are finally reaching out to distressed home owners offering them assistance and solutions to keep home owners in their homes whenever possible.
Interest rates are at an all time historic low and both home buyer's and investors are snapping up properties as quickly as they can because they realize that this may very well be the bottom of the real estate market in fact
when I review some of the appraisal reports on most of these properties I notice that most appraisers do not
mark the declining market box on their reports they now mark the stablizing market box on their reports which is just another indicator of how this market is indeed changing for the better.
If I maybe of service feel free to contact me today!
Al Espinor Jr, GRI, CDPE
Century 21 M&M and Associates
(209) 351-3180 http://www.AlHelpsHomeOwners.Com