By Nef Cortez
Real Estate Values in Diamond Bar and Chino Hills Have now surpassed the price points they reached at the height of the market in 2006. They had a precipitous fall from that point down to levels not seen since 2002. Since real estate cycles are more pronounced in California than other parts of the country, why would anyone buy real estate at these levels, when every day we get closer to another downturn?
There are many reasons why it is still a good time to buy. First of all, buying real estate to occupy as a residence is far different from buying real estate for investment. The most important factor in buying a “home” is the quality of life that one is seeking to enjoy. It is the sense of having one’s “own castle” or one’s own “Nest”, where you do what you want to do (within reason) and no one can tell you different. You can hang up pictures on walls, choose and paint the interior whatever color you choose, and change out carpets for hardwood or tile floors, put in whatever plants you choose, and the list goes on.
A large part of that sense of “Home” is in the security of knowing what your payments are going to be, month after month, season after season, year after year (if you choose a fixed rate mortgage). Fixed Rate mortgages continue to run about 3.75-4.25%, well at the low range of historical levels. The fised rate loan is what locks in the payments for the long term. Contrast that sure feeling to the insecurity of renting, where one is at risk of rental increases, year after year!
This article was written by Nef Cortez, a licensed Real Estate Broker, Ca BRE # 00560181 since 1976. He can be reached via e-mail at firstname.lastname@example.org. Please feel free to email any questions regarding real estate.