A FIRST TIME FOR EVERYTHING!

By
Real Estate Broker/Owner with The L3 Real Estate, A Trusted Name In Orange County Real Estate #00573423

 First time

An article appeared recently in the New York Times that beautifully illustrates the opportunities today's real estate market offers.  A mother working two jobs saved up for a down payment and managed to buy a large home with a pool for $187,000.  Three years ago, that same home had sold for $370,000!

While sellers are still feeling pressure, buyers with stable incomes and good credit histories are beginning to spread a "feel good" vibe throughout the industry.  Conditions have literally never been better for first-time buyers.  Affordability has seldom been higher and interest rates have hardly been lower.  Selection of inventory is vast, and sellers are highly motivated.

As more buyers enter the marketplace, the ripple effect will be felt far and wide.  When they purchase a highly affordable foreclosure or "short sale," they have removed a distressed property from the listings, improving values for other homes in the area.  When they buy a "traditional" listing, that in turn sets off a chain reaction whereby the sellers in turn will purchase another home, from sellers who will in turn buy another home, and so on and so on. 

You probably get the picture now.  As we approach some stability in real estate, all indications are that prices will begin rising again.  As the market approaches recovery, don't miss your opportunity for the buy of a lifetime.

Larry Weichman is President/ Broker for Costa Mesa based Weichman Realtors. His company has served Costa Mesa since 1976.  Please direct your questions to Larry@TeamWeichman.com or call 714-241-4532. You may also visit www.TeamWeichman.com.

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Topic:
Real Estate Market Trends
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California Orange County
Groups:
Almost Anything Goes
Orange County Real Estate
ORANGE COUNTY, CA REAL ESTATE
Tags:
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costa mesa real estate
costa mesa real estate expert
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Rainmaker
851,177
Elite Home Sales Team
Elite Home Sales Team OC - Corona del Mar, CA
A Tenacious and Skilled Real Estate Team

I wish it worked that way in our area.  Almost all of the sales have been short sales and or bank owned and the sellers to not move up.

Oct 23, 2009 05:27 PM #1
Ambassador
1,704,060
Tammie White, Broker
Franklin Homes Realty LLC - Franklin, TN
Franklin TN Homes for Sale

This is what we'd all like to accomplish...happy endings for our clients.

Oct 23, 2009 05:33 PM #2
Rainer
86,308
Bob Murphy
Keller Williams Realty Consultants - New Albany, IN

I hope the market doesn't slow down as it usually does in this area as winter finally arrives.  Maybe an extension of the tax credit will keep folks out there buying and selling.  However the market in our area is slowing a little right now.  The tax credit surge is over and I suppose we will get a bit of a break.

Oct 23, 2009 05:44 PM #3
Rainmaker
1,004,738
Karen Anne Stone
New Home Hunters of Fort Worth and Tarrant County - Fort Worth, TX
Fort Worth Real Estate

It really does appear that there are some great values to be had in your market area, Larry.  I am so pleased that the Mom working two jobs was able to find her dream home.  How wonderful for her and her family.

Oct 23, 2009 05:55 PM #4
Rainer
44,014
Lisa Matykiewicz
United Brokers Group - Gilbert, AZ

Many times people focus too much on the negative aspects of the market place....forgetting the opportunities that are also being created!

Oct 23, 2009 09:34 PM #5
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Rainmaker
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Larry & Laurie Weichman

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