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NEED ADVICE AND SUGGESTIONS.. BUYING IN CALIFORNIA

Contributions: 1

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:1

HELLO ALL,
i want to buy a house here in SFV, california... what you think prices will be and what is the best time to buy? what is the trend going to be like and should i wait ?? i am first time buyer so not sure where and how to apply and make sure i wont get messed up with the prices here... please expert and professional suggestions
thanx all... any additional helps would be appreciated

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February 16 - Tarzana

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Yanni Raz, "yanniraz1"
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Yanni Raz, "yanniraz1"

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Look, everybody knows by now that it is the best time to buy real estate. The interest rates are low and home prices are down, I don't think I've seen any better combination before like that.
About buying real estate in the valley, it depends where you want to buy.
You don't want to buy a home in some neighborhoods, but in many others you do want to invest your money in.
Let me give you a great source to access the Multiple listings for free and see homes that are for sale in the san fernando valley.
You can see homes just like a real estate agent 100% free.
http://www.homesinsale.listingbook.com

Good Luck to you.

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titan10
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my guess is sfv has a ways to go. What zip codes is a good question. I live in corona, ca, and while I know a lot about the ie, sfv is a little less known to me. It does have many good factors though, and being so close to la should help. During the blow up, the markets are consoldating toward jobs, so the closer you are to major job areas is good. However, with areas to the south having dropped over 60% in value already, It might drive the prices down in surrounding areas for a while. My guess is that your area has a couple years of a slower depreciation.

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February 17

sunnyview
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These calculators are a good place to start even without knowing exactly where you might want to buy. Try the NY times rent vs. own calculator to estimate the cost of ownership over renting. I like the mortgage qualifier calculator on this site. There are also calculators available on that qualifier link that might help you pay off debt faster before you buy or save for a down payment. If you have an idea about where you want to buy, take a look at the market report especially at the historical price curve for your area and at the negative equity map for your area. They will tell you how healthy the RE market is in the area you are considering. Hope the links help you get started. Ask what ever questions you want. There are lots of smart folks I have met here on Zillow that might be able to help you.

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February 17

sunnyview
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Trend is down and is going to be down for a while. Maybe you could give me your favorite 2 zip codes that you would consider buying in if you don't mind. Some areas are better than others, some have fallen more than others and some will fall even more percentage wise than others moving forward. Research is important in knowing what to expect especially in a market like this. I can post some link that might help you as the first time buyer in knowing what to expect, calculators for mortgage qualification/rent vs. buy and other resources you can use too on Zillow and elsewhere. Tell me why you want to buy and where you want to buy and I can find info that might give you a solid place to start.

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February 17

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