To Buy or Not to Buy?

This is the  question asked by most buyers in the current San Fernando Valley real estate market. I understand, no one wants to buy at the wrong time, considering the size of the financial commitment and the complicated buying proccess. The media reports of staggering foreclosures, the large inventory is something to make you wonder, pause and as some buyers do wait on the sidelines for more reductions. This may not be such a good strategy if you are a qualified buyer. Real estate is bought and sold in any market, good or bad. Considering that the tide has changed and buyers have the advantage, interests rates are still historically low and  inventory of homes is high, in my opinion is a great time to buy. You may be surprised to know that there are homes sold in multiple offers, or sold within the first week on the market, because they were priced right.

Pockets in our San Fernando Valley real estate market actually have seen a slight increase  compared to same time last year, and so have some area on the Westside. That is why is necessary to have as much information on the area that you wish to buy, before you make any decisions. Your Realtor should be able to give such information to help you make better decisions.

Also during this time of the year, November, December and January, is a great time to buy because not as many buyers will be out looking. So if you spotted that house, you've seen it two or three times during Open House, but you still think is priced high, go for it. Make an offer, you may be surprised to find out that the seller is willing to negotiate. In my opinion is better to write an offer and be rejected then not to write an offer, and later to find out that another gutsier buyer got it, close to what you would of offered. Only a decision to take action will bring one closer to the desired results.

The attached article reinforces my opinion about  whether is a good time to buy or nor to buy.  If you are a qualified buyer and looking to buy in the San Fernando Valley real estate market, or have any real estate questions please do not hesitate to give me a call. I will answer all your questions candidly.