The Foreclosure Next Door and why I think now is a great time to buy.

What's amazing is that I live in Picfair Village, not the Inland Empire or Palmdale where these things have been happening since late 2007. Not in my backyard! I purchased my home when the market was falling 1 year ago. Who would have thought it would go down so much?? Now, I remember this happened before, around 1980, 1988 and 1998. Going further back, we have had 12 recessions in the US since the 1940s.  I am a 5th generation Californian and have heard the same stories time and time again. Real estate always goes up in Los Angeles! In the 1970s, when I was a kid, there were a lot less people. When my Mom was a child in LA, you could ride horses in the Valley pretty much anywhere and there was plenty of open land for peach and orange groves. Not anymore. And people keep moving to this wonderful place? In 1962, the house my parents bought in Toluca Lakewas $32,000. It is now worth about $1.8-$2.0 million! Sure, prices are down, but if you look at the big picture, now is the time to buy. We don't know if prices will continue to drop but eventually they will go up and double or (possibly) triple in the years to come. And as they say with interest rates at record lows "money is cheap!" There are foreclosures and now they aren't just in the suburbs. They are next door. Now I just ask that someone please buy them and pretty them up so when the market goes back up (and it will) it will help make my block (and all of the other blocks) look a whole lot better!