Buying a Home Today...

So I just finished showing properties in Corona, mainly newer homes in the $250-290K range. And I must say, that there are some great deals and steals for the First Time Buyer out there. I don't see a better time then now to become a First Time Home Buyer. I truely feel that we are experiencing something completely rare in the Real Estate World. I call it the Tri-fecta of Real Estate... low Property Values, amazing affordable Interest Rates ( in the 5!?) and a decent amount of home to view (although inventory actually has been decreasing in certain cities and counties). To top it all off, we now have a NEW 4th benefit of an extra $8,000 tax credit per couple, courtesy of Mr. Obama!

I look at it this way, even if your home devalues 5% through this year, SO WHAT! Its not like you're going to sell your home next year! The average new home buyer stays in his/her home around 6 years. History has taught us that the real estate cycle changes every 7-10 years. If you take advantage of the low interest rates (probably going up from here..), then factor in the new tax credit( cha-ching), then the mtg. interest and property tax write offs(looks like someones getting $ back from Unlce Sam...), it doesn't make sense to RENT! We all need shelter and a roof over our heads, so why not be the owner of that shelter and reap the rewards. Why let some landlord thats been increasing your rent little by little every year or so, get all the benefits... Real Estate ownership didn't become the most stable long-term investment by accident...there's a reason why most millionaires and billionaires have a heavy surplus of Real Estate in their portfolios.