Moving to Los Angeles in the near future. Is the market better to rent a house and wait to buy for another year or to buy now.?

Asked by Cathyd101, Camarillo, CA Mon Feb 20, 2012

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Barry Shapiro, Agent, Camarillo, CA
Tue Feb 28, 2012
It's far more important to purchase in the 'right' neighborhood, than to try to time the local market. Experts such as Gary Keller predict a leveling off in the national real estate market, with the trend continuing through the end of the decade, 2012-2020, at least. So, rather than jumping in as if the best deals are only happening right now, you should rent a suitable and comfortable home in the interim for a year or so, and determine where it is you really want to live.
1 vote
Bonnie Sterl…, Agent, Simi Valley, CA
Tue Mar 27, 2012
My Realtor opinion is really that this is a good time to buy. Interest rates are low, blah, blah, blah. All true, really. My personal opinion is that since you dont know the areas, they all have their own unique flavor. You posted this in Camarillo, which is not LA at all. LA's areas are all so different and if you are really looking in Camarillo as your initial drop in spot, you might get there and love or hate the agricultural land. You might be alergic to it. You might find that you prefer the closer proximity of Westlake Village to the nightlife in the Valley, or you might like the home prices of Simi or the cooler temps in Ventura and the Coastline. My other real opinion, is come here and rent, see where you feel at home, and then buy. Rent for 6 months, the fall is usually a little cooler for home buying....usually.
0 votes
Albert Goldb…, , California
Tue Feb 21, 2012
Hi,

I have sold and traded homes in Ventura County & sold homes in LA County.

If you own a home now and are under water I( might be able to trade you out of it.

If you want to buy a home in LA County you should do it now.

Basically in LA County because of demand in the last few months I have seen prices rise, and do you really think that with interest rates in the lowest range since the 50's it is worth the risk of them going up in the next year costing you $100 to $200 a month more, or over the life of a 30 year loan of 360 payments another $36,000 to $72,000 out of your pocket?

Call me or e-mail me we represent over 15 banks for their REO's (Real Estate Owned By Banks= REO)

Best

Al Goldberg Broker
30+ years experience
805-797-3862
amgrel@yahoo.com
0 votes
Darla Dennis, Agent, Camarillo, CA
Mon Feb 20, 2012
Now is a great time to buy, interest rates are still historically low and home prices are low. However, if you are looking to buy in a new area, I recommend doing your homework. Visit the city of "Camarillo" or wherever you are thinking of living. Call a few Realtors in the area you are interested in and ask for a relocation package. If you are Military, as for a VA certified Realtor. If you have a Realtor you trust where you live now, they can help you connect to a realtor as well. Rental prices are increasing as demand has increased. Be sure to ask for a rent vs buy packet as well. If I can be of service follow the link. Happy house hunting
Web Reference:  http://homesbydarla.com
0 votes
Chris Chin, Agent, Oxnard, CA
Mon Feb 20, 2012
Hi Cathy,

It depends on several factors.
(1) How long you intend to stay in the home.
(2) What the rent to mortgage ratio is in the area and price range you are looking in.
(3) Job stability.

Also, if you don't know the area you are moving to, then you may want to rent to get to know the area better. But with that said, the interest rate is at historic lows and many deals do exist. So now wouldn't be a bad time. I recommend sitting down with an agent familiar with the LA area and go through your options.
0 votes
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