| Despite the fact "big dog" newspapers such as | | | | and another $125 per month on taxes after the |
| the OCRegister and the L.A. Times seem to be | | | | reduction. see details There are more deals |
| reporting real estate going downhill fast, | | | | out there for the buyer who seeks out the |
| the actual numbers in a historic perspective | | | | most motivated sellers. Sellers, who have |
| say otherwise. As I see it from the numbers, | | | | already purchased another home, are moving |
| the Orange County real estate market is | | | | out of state, own there home "free and |
| simply adjusting to a moderate market after | | | | clear", or are in financial distress. You can |
| 200% gains in the last 6 years. I have seen | | | | find a list of these properties at and see |
| these incredible gains have only been offset | | | | more details on the above mentioned purchase. |
| by about 5%-8% price decreases in an 8 month | | | | |
| time span and in my opinion that is hardly | | | | Here is the breakdown for those contemplating |
| prices "plummeting" as the newspapers put it. | | | | purchasing real estate in Orange County. If |
| I think everyone know it's the newspapers job | | | | you own a home and are moving to a larger |
| to sell papers and dramatic headlines make | | | | home now is a great time to purchase a |
| for good sales. | | | | "move-up" property and it makes absolute |
| | | | financial sense to do so assuming you don't |
| So, how about employment? The last time real | | | | need a negative amortization loan to afford |
| estate dropped significantly in value Orange | | | | your payment. However if you can't afford a |
| County had double the unemployment rate, much | | | | "move-up" property now then it is highly |
| higher interest rates, and the aerospace | | | | unlikely you will be able to afford one when |
| industry moved along with many jobs. Is the | | | | the market shifts into an upswing. If you are |
| decrease in real estate activity going to | | | | a first time home buyer and again can afford |
| slow the economy here in Orange County? Well, | | | | to purchase an Orange County homes without |
| I don't have a crystal ball but I do know the | | | | over extending yourself in regards to |
| Kiplinger California Letter reports on the | | | | financing then now is a great time to |
| impact of $43 billion in bonds. According to | | | | purchase as well. You will also start taking |
| the report, "A public works construction boom | | | | advantage of tax benefits by doing so and |
| over the next 10 years, benefiting builders, | | | | inevitably build equity. |
| designers and construction materials firms. | | | | |
| Not since the 1960s has there been so much | | | | A reason NOT to move in Orange County's real |
| work undertaken on the state's | | | | estate market. O.K., here is a scenario where |
| infrastructure." The article further states | | | | I would recommend holding on to the property |
| an expected 140,000 new jobs over 10 years, | | | | if at all possible ( another 3-5 years). If |
| in excess of those to be gone in the current | | | | you own an Orange County home and are looking |
| home-building downturn. These jobs will | | | | to stay in Orange County but downsize to a |
| assist strengthen the employment for more | | | | smaller less expensive home don't do it yet! |
| population entering California as well as the | | | | It just makes financial sense to wait. |
| trickle down and trickle up economics | | | | |
| associated with that number jobs. | | | | So if you are looking to "move-up" or are a |
| | | | first time home buyer seek out some of those |
| Is now a good time to buy? All I have to say | | | | motivated sellers and best buys I mentioned |
| is can you afford to purchase an investment | | | | earlier in this article. Here are links where |
| which historically appreciates over time and | | | | you can find a list of motivated sellers, |
| offers huge tax write-offs benefits. Across | | | | price reduced homes, and best buys. |
| the street from my home in Serrano Heights I | | | | |
| saw a home listed for sale in April for what | | | | This article can be freely published on a |
| at the time was "priced right." By October | | | | website as long as it is not modified in any |
| one persistent home buyer purchased it for | | | | way including author bylines, plus the |
| $130,000 less than the original asking price | | | | hyperlink must be made active just like |
| and saved over $700 per month on the mortgage | | | | below. |