South Orange County Blog from Bob Phillips

This may be the best time of the year to buy local real estate.

Posted in home affordability, Home Values, Real estate by southorangecounty on November 28, 2008

This next couple of months represent a good opportunity for local home buyers, with lower prices, and reduced competition. ( Most people are more preoccupied with the Holidays, than with house shopping.)

Two things different about this year, vs. the past couple of years. First, there is less inventory to choose from, and second, there are more houses selling, due to lower prices – especially in the lower ranges, under $750,000.

One thing to keep in mind is that as of January 1st, the new higher limits on Jumbo “conforming” loans – those which are easier to qualify for, with better rates – will be lowered from $729,500., down to $625,500.. This will probably have an impact on houses priced over $650,000.

If you are seriously considering the purchase of a house in South Orange County, this next two months will be a superb opportunity to do so, with lower prices and reduced competition. By the end of January there will probably be similar pricing, but considerably more buyers, out beating the bushes – and buying.

I have been serving this community’s real estate needs for over 32 years! I would be pleased to assist you in your next real estate decision. Please give me a call – 949-643-2100 – or send me an email.

Bob Phillips,   Realty One Group, Inc.,

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