THE BUYERS MARKET IS HERE, LETS OPEN ESCROW!!!
The buyers market is finally here!!! According to the March 2008 “Housing Market Indicators” published by the Federal Home Loan Mortgage Corp, the inventory of unsold homes in California was 11.6 months, almost a full year. This is a 52.6% increase from a year ago levels of just 7.6 months. This large increase in inventory has helped many first time home buyers to now afford to buy.
For example, a condo in Tarzana, Ca that rents for about $1400 per month can now be purchased for around $200,000. If you have a down-payment of 20%, assuming a 6% interest rate and $160,000 loan amount, gives a payment of $959.28 per month. This makes leave room for HOA, taxes, insurance, etc all close to the same amount that you would pay in rent. What a relief to finally see housing affordable again.
Now is the time to take advantage of the buyers market. Lets take advantage of the choices out there to find that special property. As a real estate broker, investment property owner, and former retail banker, I am ready to bring all of my knowledge to work for you. Just email me at firstname.lastname@example.org with your specific real estate criteria and I will respond to you that same day.
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