When should you buy?
When there is a seller’s market, the economy seems to be robust and property prices are rising. In 2005, there were less than 100 homes on the market at any given time in Camarillo. With the supply so low the demand, and prices, were soaring.
Fast forward to 2008, in Camarillo alone the supply of homes on the market exceeded 700 homes at times! With supply excessively high and demand at an all time low, recession is on everyone’s mind. Foreclosures are dominating the scene establishing some low sales comparables and the reality of the new market was swift and hard, it is undeniably a Buyer’s market. The questions on everyone’s mind include; how much lower will prices go? How long will they stay down? Is this the best time to buy? The best time to buy in my opinion is simply when you decide to. You could procrastinate years waiting for the real estate market to do what you think it should.
As soon as you decide that renting is no longer an option, then take advantage of the most spectacular interest rates in decades and start building your equity. If you think prices will go down another 10 %, 20%, it doesn’t matter, offer that much now. If the prices fall more, the subsequent interest rates may be higher and you are in the same position anyway.
If you have a home to sell in this market, it still makes perfect sense to sell now. Whatever reduction you take on one end will more than be made up for on the home you buy, and then you get to enjoy lower tax consequences! When you think about the indefinite savings in taxes on your purchase, sellers may be wise to explore selling their current home and “moving up”.
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 This is obvious, it is not only the American dream, it is a financial necessity. The tax benefits alone mean the government is subsidizing your purchase. You cannot afford NOT to buy. The loan interest is deductible, the property taxes are deductible, and buying instead of renting is simply the easiest forced savings you will ever have. So why in the world would you want to rent and pay for someone else’s financial security? Renting means you will be facing regular rental increases, and the insecurity a landlord inherently holds over every rental term is frustrating. Privacy, improvements, limitations on conditions, pets, space, storage, the list goes on. Buying your own home, making it uniquely yours, and having a stable payment makes a lot more sense. Even with adjustable mortgages your payment will stay within a certain range for the length of the mortgage. When you add up the tax benefits, stability, and the pride of ownership, buying a home is a good decision in any market!
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Finding your dream home
Searching for the right home is a science to me, and I am very good at it. For 30 years I went to ridiculous lengths to research homes I wanted to buy. That is what I did for my family and it is no less important for me to help you make good real estate decisions. If what you want is not on the market, I am not opposed to sending marketing letters to homes in your favorite areas at my expense. Many times homeowners like the fact that they can sell their homes privately without putting their homes on the market. Then you get a chance at a house that no one else has access to and the homeowner gets to sell their house with the ease they require. Let’s leave no stone un-turned to find something that will be special to you. Determine your realistic price range on my “Finance” pages and together we will research homes to find the “best buy” for your amount. Once you identify homes that may work for you, my research on that home begins. We will make no mistakes offering more than a home is worth, no matter what the seller’s “wish” price is. Long before you formulate an offer we will have the inside scoop on every comparable sale and every aspect of that neighborhood.
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