If You Can’t Afford To Buy In Orange County

I read, almost on a daily basis, posts and articles about how property prices have plummeted and how they’re still dropping. Most people believe that property will continue to drop into 2009 and 2010.

This still remains to be seen and as I don’t have a crystal ball,  I am not in a position to say whether this will happen or not.

Still,  as low as prices have dropped,  there are those who cannot quite afford to buy in Orange County and while they are waiting for prices to drop even lower so that they can afford it,  they have lost sight of the fact that it will cost them MORE later, because interest rates WILL go up!

Basically, buyers need to get a foot in the door NOW,  while the going is so good.  Let’s face it – California (particularly Southern California) has amazing weather, however we pay for that weather and the proximity to the ocean and its sea breezes, by the square inch!

What we would buy here in Orange County for $700,000 – $800,000,  you can pick up at $225,000 in Florida.  OK…  they have unbearable humidity, you say?  …  bugs?  Well,  no-one’s asking you to live there – just to buy there and rent the property out!

Instead of paying someone else’s mortgage while waiting to afford to buy a property,  buyers could purchase an affordable property in another State and their renter would be paying THEIR mortgage!  This way they would build equity towards a down payment of their primary residence in the future.

Everyone must start somewhere and that doesn’t have to be at the top, right?

 

Althea Garner
The House Of Homes Online
http://www.HouseOfHomesOnline.com

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2 CommentsLeave a comment

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