Home Prices Are Out Of Site

Category: Finance, Real Estate.

What s keeping you from buying your home in El Centro, California?

Most often, these misconceptions are a result of viewing the real estate market in the way your parents, or maybe even grandparents did. If you are like a lot of people, it may be that you have some misconceptions about the real estate market. This" Old Time" thinking can make you miss out on one of the most important events in your life- the opportunity to own your own home and get out of the vicious renter s cycle. Let s take a look: I don t have any money for a down payment. So, what are some of the myths that keep you stuck as a renter? Years ago, you couldn t buy a home without putting 20 percent of the purchase price as a down payment.

But with an average home price in El Centro being in the neighborhood of$ 200, 000 and above, it s hard to imagine saving$ 40, 00Fortunately, you don t have to- there are a number of mortgage programs that let you get buy a house with a minimum or no down payment. When our parents were financing their home, it was a big stretch, but they were able to eventually scrimp and save to do it. I can t find( or afford) my dream house- the house I went to live for the rest of my life. Most home buyers will buy 5 to 7 homes in their lifetime, with the average time in a home about 6 years. The days of buying a family home and living in it for the rest of your life are long gone. That s actually the great thing about the El Centro real estate market- you can find a home that fits your budget today, and begin building equity in the home. You don t have to find the right house for your future- just the right house for right now.

When you want to sell in a few years, you have all that equity built up to help you finance your next home. Home prices are out of site. While it s true that most of California has real estate prices up in the stratosphere, El Centro remains one of the most affordable areas, not only in California but throughout the nation. I m going to sit back and wait for the real estate bubble to burst. There are lots of cities( Las Vegas and Phoenix) that have seen a huge rise in housing prices, but in most instances, these markets were undervalued. El Centro real estate isn t quite like that- first, it s increased slowly but steadily, the continued demand, and second for homes is keeping the market stable. The real estate market simply hadn t caught up to the rest of the country.

There s never been a better time to invest in your future. Don t let the standards from the past affect you future- real estate in El Centro is guaranteed to help you secure your future and give you a happy home in the meantime.