So now that I have a mortgage broker who pre-approves me for up to 600k single home residence and a realtor to start looking at houses.

Asked by Bravo, Irvine, CA Thu Aug 16, 2012

I'd like to keep my purchase at max 550k for a 3-4 bedroom but the inventory is BAD! I'm looking at Pasadena, Alhambra, and North San Gabriel and the house is either in escrow, back up offers if they look decent. What's left is basically old and weird! My husband work in Orange County (Garden Grove) and I work in Beverly Hills and we even considered changing my job to live in Irvine (where we always wanted to live) but I love my job here so much. All we want is a safe neighborhood with a good school district. What do you advice? Will the inventory get better? I don't mind waiting 6-9 months if that's the case and hopefully interest rate remains the same.

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carlos parra…, Other Pro, Monrovia, CA
Fri Aug 17, 2012
If you are willing to wait, then why not buy and old or weird house and renovate it? The total cost may end up[ being less in the long run and it will look more like your ideal house than one that was already in good condition and did not get your "eye" for the change.
Call me or contact me. I specialize in the purchase, design (or redesign) and construction of older homes. look us up at
Let me tell you this could be a very rewarding and satisfying experience!
1 vote
Natalie Agui…, Agent, Arcadia, CA
Thu Aug 16, 2012
I have to agree inventory is very low. Before, I could find a place for my buyers in a month, now it's taking me two to three months to find a decent home in a nice neighborhood. I agree with Lance, you might want to take a break during the summer and start looking again in the fall. I know a lot of my sellers will be waiting until after Labor Day to put their homes on the market.

Wishing you the best of luck,
Natalie Aguilar Team
Keller Williams Realty-Pasadena
Dre: #01804560
Cell: 626-379-6472
0 votes
Gina Labella…, Agent, Temple City, CA
Thu Aug 16, 2012
Unfortunately, or fortunately...this is the Market we are is frustrating however the right home will come up for you, perhaps you van have your Realtor expand your areas a little more based on your needs...waiting may not help, just keep looking until the right property becomes yours. We do not know where rates will be next year but we do know how amazing they are now, and it doesn't appear they will get any lower being how low they are now..continue your search and best of luck.

Gina M. Labellarti
Realtor- Coldwell Banker Dynasty TC
9228 Las Tunas Drive, Temple City, CA. 91780
(626) 215-4462 Cell
(626) 287-9043 Fax
License # 01509425
0 votes
Lance King, Agent, San Francisco, CA
Thu Aug 16, 2012
If you're not finding inventory in your price range in your area, you have several choices:

1. Wait for more inventory. The risk of this is that prices could go up and interest rates are going to rise at some point.

2. Expand your area

3. Raise your price range

4. Consider condos

Also keep in mind that summer inventories are often lower and there is usually a big jump after labor day, so you might want to wait on the above options till you see if that is true this year.

Best Regards,

Lance King/Owner-Managing Broker
DRE# 01384425
0 votes
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