First Time HOme Buyers

According to the Wall Street Journal (Feb 27, 2011) "Housing is the most affordable it has been in decades", analysts at Moody's report. Both in terms of prices and incomes.

In the lowest level in 35 years, the cost of owning a home is equivalent to 19 months of total pay for an average family. That statistic may not be totally on the mark for owning a home in Southern California, and many other markets, but the price tag of two - five years pay varies nationally.

So, if you and your spouse make $100,000 per year combined, that means you realistically should/could purchase a $500,000 home (given the appropriate market).

According to the Weekly Guide to Managing Your Money (Wall Street Journal Sunday, Feb 27, 20110),  "At the peak, midway through the last decade, a home in Los Angeles cost the equivalent of 4.5 years' pay".

Check it out - the price in California is now around just TWO -THREE years income! Experts are saying the growing trend of younger buyers "living-in" with parents for a few years after college is paying off!

So, according to Dow Jones & Co, and with statistics here in Southern Calif, VIOLA! THE MARKET IN SOUTHERN CALIFORNIA IS NOW AT THE BOTTOM! 2011 is the END of the HOUSING CRISIS! VIOLA! IT'S OVER!!!

If you are on the fence, HELLO! It's time to jump off! If you're thinking of moving up - (if you have equity) GO FOR IT!

For more information on the market in the Southern California - Conejo Valley areas of: Westlake Village, Thousand Oaks, Agoura Hills, Newbury Park, Simi Valley, Moorpark & Camarillo - Call Ms. Smiley for

"RESULTS THAT WILL MAKE YOU SMILE!"

 

 

 

 

Kathy Smiley :)

REALTOR® ,ABR, ePro, Green, SFR, Certified HAFA Specialist

Prudential California Realty

Westlake Village, CA 91362

(805) 497-7804

www.WestlakeVillageHomeExpert.com

www.KathySmileyHomes.com

"RESULTS THAT WILL MAKE YOU SMILE!"

SMILEY SOLD GIRL

 

 

 
Post is included in group: Real Estate Trends

2 Comments on Houses are a Good Deal

MAR
02
2011
133,500 Points 4 Featured Posts Outside Blog Attended Rain Camp

Kathy, I hope we have hit bottom
1:51am • #1
656,632 Points 2 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Now is a great time to purchase a home or to get into investments.
1:53am • #2


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