When is the best time to buy a home?

The best time to buy is when you find something that suits your needs at an affordable price. Itmakes no sense waiting for the "perfect" price/rate/deal, it doesn't exist.

The million dollar question! I agree with the other lenders- there is no perfect time to buy. I have been buying and selling real estate for the last 10 years and out of those 10 years the property prices have never been lower and neither have the interest rates. Financially you can get the best bang for your buck in this market. I would not rush into anything and make sure that you find something that you love and have no doubts that it is the house you want to come home to every day! You also want to make sure that you purchase a home that will be condusive to your budget. Don't make the mistake I made at 21 and buy too much house because you think you are going to flip it in 4-5 years and retire off the profit. Buy the home with a sound mind and strong financial plan. In order to help you make these decisions it is wise to pre-select a very strong realtor and lending partner and make sure they will work together for your best interest and not there's. Please let me know if can answer any more questions for you! Good luck!

Hi Jody, In 2011 there is more foreclosures to come. In fact they say the numbers of foreclosures are to be in the millions in 2011-2012. Most of the garbage loans, the subprime loans, have already defaulted and foreclosed. This next wave is the people using alt A or A paper loans, who were hit by the economy. Now the question is, what will happen to property values. If you are looking to purchase in Huntington Beach or Newport, values are strong. If you wanted to purchase in Riverside, properties are still falling. If you are looking to purchase in OC, I don't think you will have a better time to purchase. I am located in La Palma, near Knotts. If you would like, I could go over all the numbers for properties in the area you are interested. You can contact me off this page. Good Luck!!!