James, Home Buyer in Los Angeles, CA

Souht El Monte Market Trends? is 290K for a 3br 2 b a good deal?

Asked by James, Los Angeles, CA Thu Jun 26, 2008

House we are looking at is in need of repair, seller is willing to negotiate repair costs...just wondering if this is a good buy or if we should keep looking. How low do you think the market will look over the next few years in this area?

Help the community by answering this question:


Hello James. I just sold a 2 bedroom/1 bath property in El Monte for $260,000 and $7,500 for closing costs were given back to my buyer, the property needed no repairs. The property is a short sale so my buyer was able to get a great deal. Is the property you are looking at a short sale or REO? In order to make a good decision on what you are buying you need to have your agent pull up the comparables in the area of the properties that have sold within the last month. Since property values are declining the last sold is a better indicator of what the real value is. I know agents like to go by the last 3 months but 3 months ago property values were higher than today. I specialize in short sales and REO's, if you need any help please feel free to give me a call or e-mail me at dyannaavila@hotmail.com.

Good Luck!
0 votes Thank Flag Link Fri Jun 27, 2008
How low? Who knows…But if so, El Monte will not be alone so if you feel the time and situation is right then it’s a judgment call that you as the buyer must feel good about with no looking backing.

If you decide to go forward on this property or any other that need repair then feel free to contact me for the financing needed on fixer uppers.

Good luck to you.
0 votes Thank Flag Link Thu Jun 26, 2008
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