Home Buying in Irvine>Question Details

Merry, Other/Just Looking in Anaheim, CA

Do you think Homes Price gonna Drop in Oct or Nov 2013? I know summer is High price time.

Asked by Merry, Anaheim, CA Mon May 27, 2013

Do you think Homes Price gonna Drop in Oct or Nov 2013?

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Kawain Payne’s answer
Anything is possible!

If you are thinking of buying, I would urged you not to wait on prices going down.

As they could actually stay the same or even move up.


Interest rates are very important! Maybe even more so than prices. So keep an eye on rates.

If you are a qualified buyer, you should not wait. Start looking, if you find a good deal GO FOR IT!!!


Best of luck to you.

Kawain Payne, Realtor
0 votes Thank Flag Link Thu Sep 19, 2013
Personally, I'm not real confident about the overall economy which directly impacts the real estate market. Our "Quantitive Easing" dilemma" (Money Printing at the Treasury) and these low interest rates are going to start catching up with the real World sooner rather than later.

Sure there will be a continuing run on real estate but when the rubber meets the road and we have to start facing the music of our 21 trillion dollar (too many 0's to write out) and geometrically gaining by the day, and we will, you can bet it will negatively impact the entire RE & lending industry.

Personally, if your still sitting on the fence you may want to put a pillow under your fanny and park it there for a while if you're a speculator or "fix & flipper" because that train has left the station. However, if you're in it for the long haul and are looking for a home to settle and raise your children or ride out your Golden Years then you better pull the trigger before that train leaves the station.

We've been in our home for 34 years and have been though 3 peaks and valleys so in the long run if you're not turning and burning but buying and holding you should be fine depending on the area you're looking to purchase in. Just make sure it's in the path of progress. Good luck.
0 votes Thank Flag Link Tue Sep 24, 2013
Yes, want more info give me a call 714 588 7676 and we can chat.
0 votes Thank Flag Link Mon Sep 23, 2013
Hi Amir,
A healthy economy signals higher prices and interest rates (though the latter might still be helped by the feds to nurture the rebound).

You can always refinance a high rate, but will take time to recover a loss from a high priced property.

I always advice my clients -- IF YOU ARE READY, deal with the market now and let's see what I can do to negotiate.

There is no crystal ball and no guarantees if the rebound will keep going (as past performance is no longer a good way to trend stock markets) -- too many world economiEs influencing the US economy (we are not exactly #1 anymore and determine most of our destiny here, nor can shield ourselves from own ills, much less the effects on foreign trade!)

How ready are you?

Call me if you need help.
Agnes Lago - 714-308-8117
Shore Capital Corp & Vista Pacific Realty
http://www.shorecapital.net, http://www.vistapacificrealty.net
0 votes Thank Flag Link Tue Jul 2, 2013
Whether home selling prices will drop in Anaheim during October or November 2013 will depend upon a number of factors: (a) buyer demand, (b) California economy and business trends, (c) mortgage rates, (d) jobs and employment opportunities in private businesses, (e) general affordability of homes in Anaheim and that part of Orange County CA, and (f) continued consumer confidence in real estate and private property values.

Harrison K. Long, Realtor and broker associate, Coldwell Banker Previews - 949-701-2515 call phone - CADRE 01410855.
http://www.LiveAtOrangeCounty.com
0 votes Thank Flag Link Sun Jun 2, 2013
I do agree with John, I have been watching the market very closely and have seen an increase in listings by double from previous months. We will start to stabilize.
0 votes Thank Flag Link Wed May 29, 2013
Allow me to introduce an different perspective. Hedge funders, speculators, fix and flippers have garnered the lions share of the distressed property inventory for the past several years. This is one of the main reasons we've seen inventories deminish and values increase.

That stated, there has also been an equally abundant number of homeowners who were underwater but continued paying their mortgages thereby avoideding default. Now that values have started what looks to be a healthy rebound many if not most of these homeowners are no longer underwater and are in a position to market their properties and walk away with good credit and a few bucks in their pocket.

This will, in my humble opinion, increase inventory which could tend to stabilize prices somewhat in the San Diego market. I'm not suggesting that values will decline but I am anticipating a relaease of fresh inventory from those who can now see above the water level. Just a gut feeling. {:
0 votes Thank Flag Link Tue May 28, 2013
Hello Amir,

Home prices have been slowly going up in recent months.

No one can tell you for sure what will happen in the future. If you are thinking about buying, you should not wait thinking waiting will bring lower prices. Interest rates are low right now and prices are not rock bottom, but they are not sky high

Try to take advantage of today's low rates instead of holding out for lower home prices.

Best of Success to you in your home buying quest!

Kawain Payne, Realtor
Prudential California Realty
0 votes Thank Flag Link Tue May 28, 2013
Amir

Homes prices will not drop. Oct -Nov. and 1014 you will see the homes prices plateau and the interest rates will go up. They will not stay at this level for many years. And you may never see them this low again. This is the first time in 60 years that thy have been this low
Time is to buy now if you can.
Talk to you soon

Ingrid Ski Realtor
949-874-0432
OCAreaHomes@gmail.com
0 votes Thank Flag Link Mon May 27, 2013
Amir,

Contrary to my peers, I think there's a possibility the market will stabilize after the summer season and you'll start to see prices plateau - perhaps even come down a bit. The market is cyclical in nature, and there's been an inflated market recently due to inventory levels and interest rates. I would rarely recommend to buyers to wait for the market to come down however, as I would hate to be the cause of them ending up paying more because they waited. Pay very close attention to Wall Street as your indicator. A stronger economy will influence the market dramatically. And, as others indicated, unless you're paying cash, interest rates play a big factor...and those are expected to continue to rise.

All the best, Amir.

Andrew Vagley
949.705.7676
avagley@gmail.com
0 votes Thank Flag Link Mon May 27, 2013
Based on all the economic indicators and the lack of inventory along with pent up demand of buyers that are not currently able to compete for homes in the market, i believe that prices will stay steady and will continue to increase in value however the increase in my opinion will not be as dramatic as we have been seeing lately.

Please let me know if you would like access to my reports and graphs that can be broken down from counties to sub-sivisions
0 votes Thank Flag Link Mon May 27, 2013
Hi Amir,
I agree with the other gentlmen that prices will not drop by the end of the year. The other major cost factor when buying a home (unless you pay cash) is interest rates. Interest rates have risen slightly the past few weeks but are forecasted to rise further before the end of the year.
Good luck,
0 votes Thank Flag Link Mon May 27, 2013
Speaking for 10,000 Realtors:
NO! We don't think prices are going to drop any time soon.
0 votes Thank Flag Link Mon May 27, 2013
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