Is it the right time to buy a house in southern california?

Question

I am planning to move to south california preferably somewhere highlands, colton, loma linda, fontana, or any nearby communities in those areas that's close to the hospitals. My target time would be feb of next year (2009), is the market pretty safe to buy a house by that time or would it be much better to rent first?

Answer 1

Dear Hearty,

             S. California homes prices  are in deep

free-fall. The Anderson School of Business (UCLA) economic forecasts ths continuing through at least 2009.

             The area you indicate are among the more suffering communities as high oil prices have made these high commuting bedroom communities less attractive.

             More and more properties are coming into the market. There are statistics that seem to indicate a growing number of sales. This is actually double talk because these sales figures include homes "sold" in the foreclosure process back to the lenders. Desparate times call for lying by the real estate industry to try to stem this continuing tide.

             In 2010 you should review the situation and look to see if any real price floor has become established.

              You should immediately rent...

               I do not know your full reasons for selecting the area you select, but if you have the freedom consider communities surrounding San Diego for better weather and much cleaner air.

               Good Luck and Welcome to California.  

Answer 2

Dear friend visit to

http://real-estate-informations.blogspot...

Thank you