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Investing in Real Estate in Los Angeles County is a Matter of Timing

Real Estate Agent with Pacific Inter Capital Solutions

Investing in real estate in Los Angeles County is a matter of timing.  Many home buyers, across the country, are sensing that now is a great time to buy a home, since many factors are keeping purchasing real estate affordable for the time being.  These include low mortgage rates, tax incentives and low home prices which all add up to one great deal if you can afford to buy a home.

The end of last month marked the end of the government’s involvement in purchasing mortgage-securities and the A Matter of Timingend of this month marks the end of the home buyer tax credit. The government has helped to make buying homes incredibly affordable for many people and the deals may not be as sweet when it is no longer involved in real estate.

However, the state of California has a state issued tax credit available for first time home buyers who purchase a qualified principal residence before August 1, 2011. These tax credits will be issued in equal amounts in three successive tax years with a maximum of $3,333 the first year. Something to keep in mind is that you never know when California will run out of money. Remember, they also had a $10,000 building credit that ran out of money.

Likewise, home values have remained low for quite some time, dropping dramatically when foreclosures began springing up all over.  Can home prices keep dropping?  It depends on the area in which you live. In some parts of the country real estate values appear to have stabilized, and some areas are even showing small increases in home prices.  Home prices are likely to stabilize and stay level for some time before heading upward, but it is likely that they will stop dropping at some point.

Timing is everything.  It is a rare occasion when you time anything perfectly, whether you are playing the stock market, roulette, or investing in real estate.  Nothing lasts forever, and that includes low home values.  Now might be the time to start looking if you have been considering purchasing real estate in Los Angeles County, before interest rates rise and home values do as well.

If you have any real estate needs or have questions relating to this article or to real estate in Los Angeles County, please contact me.  I will be happy to help you.

Evelyn Zebro
Beverly-Hanks & Associates - Asheville, NC
Asheville NC Real Estate Broker

One thing I know firsthand from living in Los Angeles county where I bought my first house, to years later living in Marin County where I lived before moving to Asheville NC, is that things move and change VERY quickly in CA, or at least these areas.  I hope people everywhere who are thinking of buying make their moves now since it will shift and some will be out in the cold.  I'll be watching since CA will take the lead I believe and the rest of the country will follow.

Jun 11, 2010 08:40 AM