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Is It Time To Buy Real Estate?

According to Dataquick's newest report for California 2009 May Home Sales: "The median price paid for a home last month was $230,000, up 4.1 percent from $221,000 in April, and down 32.2 percent from $339,000 for May a year ago."

	California Median Home Price
May 2008	$ 339,000
April 2009	$ 221,000
May 2009	$ 230,000

Buyers often ask me whether the market price will continue to drop and want to find out if this is the right time to purchase real estate. Savvy investor knows the best time to make a purchase is when the market hits the bottom and is on the process of rebounding.

So if we are down 32.2% from last year and up 4.1% from last month, this may be the good indicator to assist buyers in making their purchase decision.

Posted by Caroline Tsou Chai on 06/26/2009 07:54 PM

Comments (1)

buyers

This post has been included in California Information Los Angeles County, CA Information Diamond Bar, CA Information

1 Comments on Is It Time To Buy Real Estate?

JUN

I think it absolutely, positively is an excellent time to buy real estate! If you are credit worthy, have a downpayment, and a long term plan of holding on to your real estate...as Suze Orman says "by all means, BUY!"

The piggy bank days are gone! Don't buy if you are trying to see instant equity, or want to fix and flip! Don't buy to refi, buy as a first time home buyer because it is a buyer's market and there are homes available at entry level price points. Buy to step up to a larger home for your growing family, and buy as an investor to hold a long term rental as part of your portfolio...

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