Los Angeles Living

NO NO NO. People have to wait for prices to rise and rates to go up before they buy! And they should also wait for the tax credit to expire! 

Lots of good information here.... and if people are secure in their jobs, there are many reasons to buy now.

Philip,  LOL.  Let's hope all this finally sinks in.

Joan,  you are absolutely right.  Hopefully, the job market has leveled off also and will start to turn around.

Donna & Larry,  we all hope so, and I am convinced this is the direction we are heading.

Great video Jane. There is no better time to buy than now - buyers market, tax credit and interest rates will only go up!

Definitely, Carol.  I think buyers are actually starting to see this in our area.  There is a buying frenzy going on.

The still low rates are the only good thing for 95% of my buyers.  I've not had a single person who has qualified for the first time buyer credit.  I've had a couple of first time buyers, but their income was too high.  Mostly I sell weekend/vacation lake homes in my market.  I'm ready for some job creation.

Hi Jane,  Very good explanation of the program--as well as the possibility of getting more of a surge with creation of jobs.  The rates are still of interest to many of my clients too but, I have had several first timers take advantage of the first run and have seen the sellers be able to move up, freeing up the next level of home sellers too.  The new plan to modify should help as well, should they be able create a solution for those to modify their mortgages while they find employment.

BTW, I noticed your profile and have been trying to find time to re-create mine to be more of a focus like yours.  Have you noticed that your approach is working well for you--instead of the general profile description that most of us use?!

Have a wonderful weekend...

Debe, as always thanks for dropping by.  I think we are getting nearer a more normal market.  Indications in Los Angeles, in terms of frenetic buying in some areas would suggest that we are.

Re my profile.  I need to gear everything towards what my profile suggests - absentee owners and out-of-town buyers.  I don't really write towards those areas.  Also, the wording is wrong.  I can't imagine someone doing a search for either.  It is a work in progress.  I don't think the profile is as important as how you use it to your advantage and post accordingly, which you do well.  I have only been doing this 3 months and only get calls from people trying to sell me something.

I like Philip's comment. Interest rates for 30 years fixed mortgage is almost at record breaking levels.

I wonder what the record breaking level was, Haris.

With prices having dropped as far as they have now is a great time to buy if you know you will be in the property long term. Nice video:)

Thank you, Bill.  The video does put it succinctly.

Oh, don't you just hate those solicitor calls?!  ARRGH!  And, they say they found you on Active Rain--you think it's an agent referring someone to you but, it's just a lead-in line!

Have a great weekend...

You too, Debe.

Hey Jane, I liked watching the video, I think jobs are the deciding factor. When people are secure in their job anytime is a good time to buy and if they can buy now and take advantage of the tax credit and good very low interest rate that's all the better.

Absolutely right, Mary.  Without job security people are not going to buy, tax credit or no tax credit.