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Now is the Best Time to Buy in the Past 35 Years A view from a Mission Viejo Realtor

By
Real Estate Agent with TIM LORENZ - Elite Home Sales Team DRE# 00919781

With the best interest rates in a long time and the improvements of the FHA loan limits and the VA loan limits, as well as, lower prices.  Wow, if you qualify for a home you can get the home of your dreams.  

Most want to do what the other are doing so they buy when everyone is buying and sell when everyone is selling.  Yet, if one purchased a home today they would be in a larger home and in a better neighborhood than in the past few years.

In Southern California, South Orange County we have seen a 36% drop in price and we can still get anywhere from Zero down VA loans to $1,500,000; 3% down FHA to $417,000 or 5% down to $729,750; and conventional loans with 10% and 20% down.  Buyers must now be fully qualified and be able to afford the home, but if they can they are getting great price and good interest rates.

These conditions will not last interest rates have pressure on them to go up.  With that the home value that a buyer can afford will also go up.  Now is the time to buy a home.   First time home buyers can also get a tax credit of up to $8,000 from the federal government, and in California the buyer of a new home can get up to $10,000.  Wow these are great incentives. 

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