What an interesting time this is for the Real Estate industry. Almost everyday we are all bombarded with more discouraging news about the real estate market and holy cow all these experts and their predictions its numbing. I really don't think any of them have a crystal ball and if they do, they sure can't read them. The following is one of my favorite quotes and I use it all the time.
You do not make money when you sell a home, you make it when you buy it !!
Think about that just for a couple of seconds. Real Estate is just like anything else. Buy low and sell high. It's a great time to buy( make money) A Mortgage Broker and I were working on a Marketing piece targeting potential VA buyers. The recent past market had almost wiped out the VA mortgage buyer because of initial purchase price. VA is the same as a conforming rate loan currently $417,000. We wanted to know how many homes were available. Here are those numbers. I WAS STUNNED.
East County Single Family Homes under $417,000 563
East County Townhouses/Condos under $417,000 795