Long Beach Housing Market

Once in a lifetime opportunity to buy in Long Beach
October 27th, 2010 8:52 AM
These are the words I heard on GMA this morning when they were discussing the housing market.  Around the nation prices have dropped 2.2% from this time last year, which isn't bad!  I care more about the Long Beach area.  In fact most areas of Long Beach have seen appreciation over this time last year.  Great news for homeowners.  Many people are still underwater and unless you want to sell or refi you get to sit and wait it out.  But if you want to buy, well that's another story.  It is a once in a lifetime opportunity.  Interest rates are at historical lows and prices although they've gone up, are better than they've been in many years.  So why wouldn't you buy?  Yes lenders are more conservative than they have ever been, but that's not a bad thing, think of them as having your back to make sure you don't get in over your head.  If you have the patience to wait out what may be a long process to get approval, it will be worth it.  Today with the rates lower than this time last year, even without the $8,000 tax credit from the federal government you could end up buying a house and paying less monthly for it than you would have with the tax credit.  That does make it an amazing time to buy.  If you have been thinking of buying, trust me it just doesn't get any better than this.  Have I said that before??

Posted in:General
Posted by Heather Burke & Sarah Ireland on October 27th, 2010 8:52 AMPost a Comment

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