6 Good reasons to Still Buy Real Estate in Newport Coast and Newport beach

The housing market is looking healthier in Newport Coast and Newport Beach. Here are six reasons why now is the time to jump into the market.

1. Uncle Sam is willing to help. First-time buyers (defined as anyone who hasn’t owned a home in the last three years) are entitled to a maximum $8,000 tax credit; interest rates are at record lows; and the Federal Reserve is doing its best to make mortgage loans available. (Sign up for a Webinar to learn more about the home buyer tax credit)

2. People have to live somewhere. About 800,000 new households are formed each year in this country, ensuring that the housing market will tighten, even if the economy doesn’t soar.

3. Borrowers leverage their investment. If you put $10,000 into the stock market and it earns 10 percent, you’ve earned $1,000. If you put $10,000 down on a home and its values increases 10 percent, you’ve made $10,000.

4. When prices come back up, you’ll have instant equity. In parts of the country where foreclosures have driven down prices, better times will mean the price of the home you buy will rise rapidly.

5. Mortgage costs stay the same. If you get a fixed-rate mortgage, the monthly payment stays the same – while everything else, including rent, goes upward.

6. You own it. There is something comforting in the notion that your home is your own. You can paint it any color you want, let the dog run in the back yard and hang a swing for the kids in the front.
Source: The Wall Street Journal, June Fletcher (03/27/2009)

To check out great inventory on foreclosures and short sales (Hot Buys) and even rentals do a search on www.RoxanaGreenman.com

Housing experts predict that multi-family rental properties and apartments will recover fastest from the current downturn, followed by housing in cities that didn’t overbuild. Newport Coast and Newport Beach areas are starting to see this.The market is likely to hit bottom in the next few months, says Bernard Markstein, senior economist and director of forecasting for the National Association of Home Builders."Next year will see slow but steady improvement, as home builders are controlling their inventory," Markstein says.Apartments and other multi-family residences will snap back quickly once businesses start hiring again, predicts Victor Calanog, director of research at Reis.Baby boomers looking for retirement homes and first-time home buyers also will lead the way out of the decline, predicts Bill Singer, a securities attorney and trader who is a member of Forbes.com’s panel of financial gurus.

Finally, maybe some positive real estate news for the housing market in Newport Beach, Corona del Mar, and Newport Coast!

To check out great inventory on foreclosures and short sales (Hot Buys) and even rentals do a search on www.RoxanaGreenman.com

Have we hit the bottom of the real estate market in Newport Coast

Many people feel it very close to being to the bottom. I attended numerous workshops and seminars during the last week regarding specifically Newport Coast and Newport Beach (even Corona Del Mar, that was for my sister-in-law’s house) real estate. The consensus among the experts is that they have no clue but they do know it is probably a real good time to buy because indicators point that in this area we are close to bottom.

To check out great inventory on foreclosures and short sales (Hot Buys) do a search on www.roxanagreenman.com