There are plenty of opportunities to buy a property in the Southern California real estate market. Ironically, this is because of the perception that nobody can afford to buy a house in the area, which is far from the truth. A good realtor will be able to find you a property that suits your budget and taste.
Last year, the median cost of houses in Los Angeles County hit $575,000. It’s a record number and you have to go back to the housing bubble for comparison. By December of 2017, the median cost went down to $567,000.
In Southern California, the prices of the single-family homes continue to expand. This is true of the whole county, as well. The number of houses sold declined 5.6% between October and November of 2017.
The prices of homes in California is said to be nearing the pre-housing bubble period, which is saying a lot.
This is not to scare prospective buyers, of course. These are just the facts so you understand the lay of the land. But the housing market fluctuates when it reaches a tipping point. Realtor groups predict that it’s still going to rise some more before it will stabilize. It’s not going to stay up forever.
Don’t Count Yourself Out
It does sound like doom and gloom but that’s not really the whole picture.
To say that Southern California is out of your league if you can only afford a low-priced home would be inaccurate. What you need to do is find an experienced realtor who knows the ins and outs of the real estate market in your area. They will be able to match you with the perfect home while taking into considerations your specifications and your budget.
In fact, the biggest hurdle for the first-time homeowners is to believe they deserve a home of their own.
Based on research, those who want to buy a home often psych themselves out even before talking to their lender or their real estate agent. They are sometimes pleasantly surprised when they reach out to a realtor and find out they can get a beautiful home in Southern California even in their price range.
Finding the Perfect Home for You
It’s the job of the realtor, after all, to find them a home that best matches their list of requirements. In fact, there are plenty of houses available for half of the average cost of homes in Southern California. And these are not dilapidated houses either where the renovations will set you way back. These are move-in ready houses where you can move into right away.
Realtors, however, suggest that first-time homeowners should be serious enough to spend hours and days in research, shopping for and bidding on homes. This is a way to familiarize oneself with the state of real estate industry in Southern California.
If you feel overwhelmed, don’t fret. Our expert realtors are here ready to give you a helping hand.
Published on 2018-06-19 15:23:52
