If you are in the market to buy a home right now you are in luck. It just so happens that there are many people, as well as banks, desperately looking to sell. This means great deals and even better opportunities. The price is not always the most important thing when buying. It's finding a great balance between price and interest rates. The average 30 year fixed mortgage is at 5.43%* according to Bankrate.com and the prices of homes are near the 2002-2003 levels. I don't think you could wish for a more perfect combination.
Are you looking for a home that you can live in and enjoy? One for you and your family? This is the prime time to buy. If you are planning owning your home long term the 30 year fixed rate is at near historic lows, home prices are a steal right now, and there are banks and sellers willing to do just about anything to get out of their home. Utilizing the down payment assistance program you can actually have a seller contibute the down payment on your new home. Obviously you can negotiate for just about anything when buying a home, but in this market buyers have the upper hand. If there is something that you want from a seller or something that you want done a certain way, don't hesitate just ask! From seller financing or seller concessions all the way to a piece of furniture that you really liked while viewing the home. The odds are in your favor that you will find a seller willing to jump through the extra hoops to get their home sold.
Let's take a look at this from another perspective, as an investment. I have had the pleasure of being networked with some of the best in the real estate industry from around North San Diego and Riverside counties, and am updated routinely on the best deals on the market. Take "Teterington" for example; a 2 bedroom 1 bath home with a studio apartment in the back, located about 74 minutes from both L.A. and San Diego and about 45 minutes from Orange Ca. You could rent the house for $800.00 and have it rented all year and get $350.00 for the studio. The home is selling for just under $100,000. Your mortgage payment would be about 750.00 including your taxes and insurance with 10% down. So you invest $10,000.00 into an investment and receive $400.00 a month positive cash flow plus any appreciation on the property itself. It will take just 25 months or just over 2 years to get the money that you put into the investment back and after that it is all profit, less the governments share.
Now is the time to invest in real estate here in Riverside county. Fuel an investment portfolio that will sustain and grow year after year with a solid investment that has proved itself cycle after cycle. Visit my website for more posts; www/proloanbroker.com