I know that almost everything that we read in newspapers or watch on television is mostly terrible news about the economy; short sales, foreclosures and job losses. Nevertheless, it is only 1 out of 10 homes that is upside down. There are 9 others that are fine. Even though unemployment is rising, it is only 7 or 8% of people that are unemployed. The other 92% are still employed.
With the announcement that conventional interest rates for purchasing a property might be coming down to an unprecedented 4.5%, something that we have not seen since 1960, if I was a Buyer, with a fairly secured job and money saved for a down payment, I would be running to see my Realtor to purchase my first home. What could I possibly be waiting for?; and there must be a lot of Buyers that fit this description.
If you need a home to live on for a reasonable amount of time, 5 years or more, my advise is BUY A HOME NOW. Prices are down, down, down, inventory is high, high, high. What are you waiting for?
I have been a Real Estate agent in San Diego for more than 30 years. I have seen many ups and downs. I have seen interest rates at 17%. I have seen much higher unemployment figures. When regular interest rates were 11%, there were many Buyers jumping in and purchasing their first home. NOW IS 5% AND IT COULD GO DOWN TO 4.5%. When real estate starts going up, it goes up really fast. As a smart Buyer quoted in the New York Times said "You can never time a bottom. This is a long term investment for us, and it truly is the best investment we have in our portfolio right now"
Last, !!!DON'T PUT OFF BUYING A HOME IF YOU NEED ONE!!!
Isaac Bensussen- Best Homes in La Jolla
There is no better way to get to know your neighborhood than driving without a map and getting lost.
When I arrived in La Jolla, California in 1976, I was captivated by the beauty of the Ocean that seem to be all around you La Jolla is surrounded by hills with great ocean views. Nevertheless, there are wonderful narrow curvy roads that lead you to the top of those hills and end in cul-de-sacs with outstanding ocean views.
As a Realtor, I have had the opportunity to view many of these homes that do not have the ocean views but do have the La Jolla Old Charm. Spanish and Contemporary homes going up Lookout Drive and Hillside. I have explored all those roads. Driving around the many La Jolla Beaches there are small streets West of La Jolla Blvd. and West of La Jolla Shores Drive with many charming cottages that lead you to fabulous beaches. With my kids I have swam in all those beaches. Now, after many years in the Real Estate Business, I don't need a map any longer. I can find my way around quite easy.
Nevertheless, going up Via Capri and looking right at the magnificent coast line all the way to Del Mar, especially when the Ocean has a deep blue color, I can't help myself of being surprised every time and letting a big "Ohh" of admiration.
Isaac Bensussen-www.besthomesinlajolla.com
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"REPRESENTING BUYERS AND SELLERS SINCE 1976" Since 1976 Isaac has helped hundreds of families to buy, sell and refinance properties all over San Diego.
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