South Orange County Real Estate

[Movingsale]

Due to job relocation, we have to move the whole family to Orange County. Now, we are renting a 1 bedroom apt for $1240. We are thinking of buying a house soon but we are very worried about the real estate market here.

Whenever a 2-bed condo (built after 1995, one car garage, 1000 sq ft) comes up on the market that is priced below $410K, my agent would encourage me to make an offer because the unit will not last for a long time. We can afford that price range but it's already ridiculous to pay that much for a condo. I know the price will go down eventually but when? How long should I wait to buy our first home?

[SanDiego]

Have you consulted your RE specialist you're working with to get a professional opinion?
Better yet, have you done any research or looked into RE stats for your area to give you a better idea of what the market may or may not do?
Have you been following the current economy looking for trends?
Do you realize that it will ALWAYS be a risk where there is a return?

If you are truly worried about "losing Money" in an investment... Don't BUY... rent for 1240 a month... sooner or later the rent will go up and I'd bet the prices of homes there as well. Then you'll look down a long tunnel into the past ( like many people I know) and wondered, why didn't I buy then!?!...
I know people that bought (1994-5 era) and for the next 5 years the market went DOWN... but hey, it rebounded, and now the property they own is more then triple the price. And YES, it will probably go down again, but back up as well....


Ask yourself how long you plan on living there.. if it's not too long, hey renting is GREAT! If it's a good while, buy something....that's my opinion.

[kensmith]

Some great points SanDiego.

[sellinggalveston]

just reading past posts... I wonder if the guy bought? I bet prices are 100k More now...