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I am planning to buy a cpndo in Redondo beach, california..is it a good time?

What is going on in Redondo beach, is it a good time to buy now , or should I wait 6 to 9 months??
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December 17 2008 - Redondo Beach
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Yes, you will have less competition for property then in the Spring or Summer months. I expect this Spring to be extremely active for buyers.
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December 23 2013

The only answer to this really depends on you.  Some condos are priced really well and some aren't with just about everything in between.  We are starting to see an increase in short sales and bank owned homes which is driving down prices on condos as well and as many condos along the Esplanade and in the Village, were second homes they've been hit the hardest so there are definitely opportunities. 

Having said all that you really need to ask yourself what your reasons are for wanting to buy a condo and what your real goal is.  If it's something you are planning to make into your long-term home then it is a good time as there are condos that are deeply discounted.  If you are really looking for a short term way of getting into the market in the hopes of "trading up" to a townhome or single family in the next few years, you may want to wait a while. 

Regardless of your timing....best of luck as Redondo is a great place to live.

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December 31 2008
good lord!!!!

realtors all love to say, "its a great time to buy" even though they really don't know anything!

what do you think? is the job situation getting better in LA? is credit getting easier? how is supply of homes versus the number of buyers?

I read these posts and start understanding why so many people hate realtors!

Professor Ribas, mathematics and econometrics, in addition to 10 years in real estate.
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December 17 2008
I worked in the South Bay market a year ago. I know they have been hit hard with price reductions and distressed properties in certain areas. From what I have seen though the deals are out there! On top of that interest rates are really low. It is always a good time to buy if you are ready and find your dream home...now you just need to find someone to negotiate the best deal for you. I know quite a few agents in that market that will do a phenomenal job for you. Let me know if I can have them contact you!
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December 17 2008
Yes this is a very good time to buy.

Everything depends on if you are ready to buy a place right now. The rates are really low and the prices are low. No one knows exactly when house prices will hit bottom and yes they will hit bottom and start to rise.
Approximately 50% of homes currently on the market are short sales or in other words distressed.
If those people are rescued from losing their homes, that would take half the homes currently on the market away.
The rules of supply and demand are the less availabe the higher the price.
There are many people saying wait till the beginning of next year. Now that time is here but when everyone else starts to buy that too will drive up the house prices.

If you need help buying that place in Redondo Beach, you can consider us at your service.
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December 17 2008
 
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