Beltran Properties

One Quarter is already done for 2009. Will we survive? Of course. If you have not already heard there is some federal incentives for home ownership: there is the $8,000.00 for first time home buyer (and that means have not owned a home for 3 years) and a $10,000.00 incentive to buy a new home.

Also there are offers  coming from everywhere to help you modify your current loan. Beware!! There is a very informative article on the Dept of real estates web page you should check out. Go to www.DRE.CA.GOV and click on the newsflash button on the upper left.Then read both fraud warning and advanced fee. There are people out there ready to take your money and run!

In our local area, there is more news. It seems that the home invintory (for sale) is less than it has been for a long time. It is down over 14% of last month. What has done this is that investors have grabbed up all of the good investments under $500K, and owners who can wait are delaying selling until there is more stability of prices (higher values).

You still need to be squeky clean on credit, but if you are, there are bargans to be had, as interest rates are still low, and are home prices. 

If the trend of less homes for sale continues, it will drive up prices and competition for the existing homes.

It all falls onto the idea, if you are ready to buy, have the pre-approval, and the funds to close, you will be in the best position to negotiate. But do not wait too long. There is still competion for the good deals, and the market could pass you up while you wait for the right timing. The right time is when you are ready. You could loose the great interest rate while you wait for the price to drop another $5,000K: and the interest is the most expensive part of your purchase.

always ask questions