12/21/2006

Inland Empire.

The reasons for this are:

Investors made up about 28% of all Residential transactions in 2005. Needless to say, investors are for the most part out of the market.

The news media hasn’t helped the market. You must remember, this is the same media that help drive prices up for the last 7 or 8 years. Talk of a bubble, or a hard or soft landing for real estate is still in heavy debate.

The price of gasoline and other energy costs has a lot to do with consumer confidence. I personally think energy costs have had a large impact on housing.

The number of new homes that have been built in the Inland Empire has helped increased the inventory almost half again over 2005.

All of these trends signal that now is a great time to buy a home. The reasons to buy now are:

Great interest rates of 6% are available for 30 year fixed rate loans, as well as 30 year fixed with 10 years interest only payment and many other loan programs.

A large inventory exists for a buyer to select a home from.

Sellers are more willing to negotiate; some may help with closing costs or buying down interest rates.

Finally, don’t forget the tax breaks for home owners. Interest on your home loan is deductible. Buying now may be your best decision ever.

If you have questions or comments on this blog, please send me an e-mail at gteeters@coldwellbanker.com