27
Jul
11

Home Prices Decline in May. Boom or Bust?

Home Prices were reported to have decreased in May of 2011 again.

What does this mean for the consumer? It depends on whether you are a buyer, investor or seller and what vantage point you are looking from.
Buyers and investors will be hard pressed to ever find cheaper money to borrow. Prices may or may not be at the lowest level, however, if you are buying to live in your home, the debt service (mortgage payment and taxes are very reasonable.
If you are an investor, you have the ability to leverage yourself with your available reserves to make multiple purchases. Flip properties are few, but still out there. Holding for cash flow is starting to make more sense in the single family, some condos and 2-4 multi unit properties. The availability of consumer friendly non owner financing is remarkable, despite what you may hear otherwise from other media sources.
If you are a seller, you can rest assured that I stay current to the day on your neighborhood and community market statistics and neighborhood trends. By having the latest information, I can help you set the right price for your home to maximize profit or springboard you into your next home, wherever that may be.
Keep a close watch on future communications from me as I will be collaborating on a series of webinars with the Vice President of 1st California Mortgage, Steve Majerus. In the series we will be covering methods of leveraging your available cash investment, purchasing rental or flip properties, market trends, just to name a few of the topics.
We will also be piggybacking our webinars with Distressed Property Tours on Saturday mornings.
Hope everyone is doing well and have a great remainder of the summer.
 
Warmly,
 
Dean Souza
Broker/Owner Better Homes Realty Danville/Castro Valley
510 888 3322
Focused on the Success of Your Move
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Dean Souza

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