It is time to buy a house in Calabasas and Woodland Hills

Real Estate Agent with COLDWELL BANKER

It is time to buy a house in Calabasas and Woodland Hills

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If you're into bottom fishing, now may be the time to start searching for a home.  In the last 20 years the market has gone through several cycles. How many times have you said to yourself  "Damn, why didn't I buy a home then"?  In 5 years you may be saying, "Damn, if I had just bought in 2011".  Prices are just moving along the bottom and interest rates are really low. Those  are the perfect ingredients for buying NOW. Have we reached bottom?  Am I going to wait for the bottom to hit?  Are you going to wait to find the market's bottom and miss out on LOW interest rates?  Low interest rates are so important to the cost of your deal. You might think you can snag a great deal by lying in wait, hoping that the owner will get desperate enough to take your low ball offers. But if interest rates rise maybe 1% during the time you wait you will end up shooting yourself in the foot. So what are you thinking? It's time to buy a house!

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I have not met anyone who can time the market perfectly or has that crystal ball. It's hard to tell where the bottom of a market is until PRICES START GOING UP!  But guess what.  All the stars are lined up now for buyers. It's time to buy a house.

If you think snagging a short sale is the best way to buy a house, think again.  Rescuing underwater borrowers through a short sale; such deals can take months to approve.  Remember that the existing lender  has to agree to the underwater price that the buyer offers.  Foreclosures that are listed are often more realistic  about the value and are move along faster.

When it's your time to buy a house, look for what the real estate industry calls 'battered histories'.  That usually means one of three things: The home has been on the market for 90 days or more, the seller has cut the price numerous times or the house has had other offers that have fallen out of escrow. That's why you need an experienced broker to represent you and who knows the area and the history of these homes to guide you in writing an offer. Michael Gilbert and Irene Failla have the experience and knowledge.  

Its time to buy a house and if you are looking in the Calabasas, Woodland Hills, West Hills, Tarzana, Hidden Hills, Encino and Sherman Oaks areas, our expertise and experience will put you at ease.


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