gregorygarver.com

[parkave527]

I found a townhouse development in Oakland, CA that I really like and the price is right. The question is, will the prices go down even further in this recessed real estate market? I'm worried that the unit I want is going to be gone soon. What to do?

[Chuck92121]

Your concern about prices falling further is well founded. However, if you do not buy you will continue to rent and keep paying off your landlord's debt. You will not benefit from writing off the interest and real estate taxes. So, yes, the market likely will go down and at some point it will recover. You need a place to live. If you feel this will be a relatively long term investment of 5 years or more, then consider the other advantages of home ownership other than just what is happening to the market value.If you need mortgage advice, email me.

[ticketoride05]

WHEN MOVING TO OAKLAND, BE SELECTIVE ON THE AREA YOU MOVE TO AND DO YOUR RESEARCH.RICHMOND OAKLAND AREAS ARE PRIMARILY BLACK OR MIXED HEINZ 57, IF YOU ARE LOOKING FOR PROPS THAT WILL APPRECIATE IN VALUE FASTER IN THIS DOWN MKT, TRY SAN LEANDRO, SAN LORENZO & CASTRO VALLEY; AND THE EAST SIDE OVER THE HILL, TRY LAFAYETTE , WALNUT CREEK, ALAMO & AREAS IN THAT SIDE OF THE MOUNTAIN.THE FLAT END OR DOWN SIDE OF REAL ESTATE IS DETERMINED ON THE ABILITY TO HOLD OUT IS A DOWN MKT. THE SELLERS THAT CAN'T WITHSTAND THE FLATLINE CALL FOR DRASTIC MEASURES AND SELL FASTER BECAUSE THEY LOWER THE PRICES TO GET OUT QUICK AND THEREFORE MAKE IT SEEM AS THOUGH THE MKT HAS PLUMITED...WHEN IN FACT THE RE HAS NOT FALLEN, BUT THE OCCUPANTS HAVE RUN SCARED.IF YOU HAVE THE MONEY AND HAVE A FIXED INTEREST PROGRAM WITH YOUR LENDER, YOU WILL BE IN GOOD SHAPE WHEREEVER YOU DECIDE TO PURCHASE...JUST CONSIDER YOUR SURROUNDINGS IN THE AREA YOU PLAN TO LAY YOUR EGG.THIS IS INVESTMENT ADVISE/SUGGESTIONS, NOT PEOPLE DELEMNAS.