The market is full of good deals out there right now. I have seen three nice 2 bed 2 bath condos in Orangevale for under 82,000. Tow of them are under 70,000. My only hold back is that I am not sure if they can do FHA loans, because I do not know what their level of home owners vs investors is to the ownership in the HOA. But now would certainly be the time to look at buying something like this. The mortgage payment including the HOA taxes and insurance would be less than 900 on any of them. I have told several of my friends about these opportunities and many have shown interest. I am looking for myself also however my wife is not excited about living in a condo. Still I can’t help but think this is a great time to buy something and hold on to it for a few years until the market returns. There has never been a 10 year down cycle in real estate in California, and we are in year 3 of the decline. things would have to start picking up in the next few years in order for home values to exceed what they were in 2006 by the year 2016. Just a little food for thought. If you have any questions about buying an investment or first home, or next home, please feel freed to email me at nwesterman@avalar4homes.com
Tags: Mortgage INfo, Personal Stories, Real Estate
