Trulia Community - Advice from neighbors and local experts

Find Your Community
We couldn't find that location. Please try again.
Get Expert Advice

Market Conditions in Lafayette : Real Estate Advice

  • All39
  • Local Info3
  • Home Buying12
  • Home Selling3
  • Market Conditions2

Activity 2
Mon Aug 30, 2010
Suzanne Looker answered:
Hi Ray,
You should be able to put 10% down. You can log on to my website to see how much house you can afford, along with doing a search in Lafayette. Depending on size, age, condition, etc., you should be able to afford a purchase in Lafayette. Contacting a lender is a good, first step.
Suzanne
... more
0 votes 3 answers Share Flag
Sat Mar 7, 2009
CJ Brasiel answered:
Jonathan,

Many buyers are trying to predict the very bottom of this low cycle in real estate. It is almost impossible to do. It hasn't been talked about much here on Trulia but I think it would be very interesting to compare the difference in market price vs tax savings in buying a home now or in 2009 and see how those two scenarios play out.

In working with my clients, I have been able to show that, that for the neighborhood they are looking at that we would have to see another 20-30% drop in prices to make up the difference in the tax base adjustments they would get with buying a home early in the year.

But most importantly, I believe that there is a definite trend back to buying homes with a balance between investment and life choices. I personally never enjoyed renting. I couldn't wait to find a home of my own. But others, are fine with renting and only buy a house for tax and investment reasons.

I believe there should be a balance in the decision to buy a house. Now is one of the best times in quite a while to have choices of homes in the Bay Area to buy, with near record low interest rates, with the possibility of avoiding a jumbo loan, and of course the simple pleasure of owning your own space for the long term investment.

It might be worth a chat with your tax expert, mortgage expert, to see how your personal situation stacks up in this market. You may very well find your window of opportunity is now, even if the market drops another 5% or so.

Good luck, Walnut Creek is such a great area.

CJ
... more
0 votes 30 answers Share Flag
Search Advice
Search
Market Conditions in Popular Lafayette Neighborhoods

Followers

243