Never let  an agent tell you that you have to buy one of the four homes that they show you. You are incharge! Stay true to yourself about what you want and what you are going for.

The big question that is on everyone’s mind is, “What is going on in real estate?” Bank owned properties are currently driving today’s real estate market. Inventory is down and there are multiple offers on these particular properties. If you are a buyer, make sure that you are prepared to offer the asking price or above, are qualified to make the purchase, and are ready to make repairs to the property if needed.

The first time homebuyer credit is here! If you are a first time homebuyer, you can now receive $8,000 in a tax credit. And, if you buy new construction, you can get up to another $10,000 in tax credit.

California Median Home Price for November 20008: $285,680

California Highest Median Home Price by Region-November 2008: Santa Barbara So. Coast $1,200,000

California Lowest Median Home Price by Region- November 2008: High Desert $148,580

Source: California Association of REALTORS.   (C.A.R.)

Anyone who wants to be taken as a serious buyer should know exactly where they stand as far as what type of mortgage they are going to have as well as what mortgage payment will work for them. By being pre-qualified by a lending professional, you are showing that you are serious about purchasing a home and any offer submitted by you will send an instant message to the seller that you are prepared to purchase their home.  Another benefit is that your REALTOR will be able to show you homes which fit your financial as well as personal needs, in additon to negotiating a lower price. With the subprime market disappearing and the inventory growing, a well qualified buyer is in the most optimum position.

In today’s market, if you are priced higher than the last sale of the most comparable home, you are priced too high.

This is one of the most asked questions that I have been receiving from my buying clients. What I tell all my great clients is, “when we find the right home that makes sense, both financial and emotional sense for you and the whole family, you should buy it. You see, the rates are still great and if you wait, the rate may move up and yet, if the price moves down, you still may not be able to get into the home that you really love”.

 Also, there is the chance that someone else may purchase the home of your dreams.