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    SCV Real Estate Update, Afford-ability is Driving the Buyers Market

    buying real estateWe do our Monthly Market updates when the data has been compiled and the month has closed out.  This is important to do when the closing numbers are posted to get a Factual Grasp on what the market is handling.  Some questions that we ask ourselves:  How is Inventory – What are the Sales Prices – What are the price reductions or increases in Single Family Residences versus condo’s and Town-homes.

    Examining the nation’s real estate uncovers that people buying real estate are doing so because of the incredibly high affordability levels. While mortgage rates have been dipping and rising in recent weeks, housing prices have continued to drop, if ever so slightly in comparison to a year or two ago. The high inventories in most markets are keeping prices from rising and sellers are forced to swallow the fact that if they want to sell they have to do so for less than originally thought.

    Low home values, low mortgage rates and high inventories have created an ideal time to buy real estate. These are the best affordability levels with respect to real estate that have been seen in years and those buying are the people who do not want to look back in a few years and think if only I had bought then.

    The best investments are those that are timed right. Buying low and selling high is the motto, and those that can get it right are those that stand to make the most profit over time. In a nutshell, there couldn’t be a better time to be a real estate investor.

    Click here to read a recent article from the Wall Street Journal that points out how affordability is what drove real estate sales in 2010.

    Besides being “Best Investments” – We have a Real Estate Home Valuation System that is without comparison.  It compiles it’s data from the source – the various boards of Realtors and the Assessor’s Office.

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