SO YOU THINK YOU CAN’T AFFORD TO PURCHASE YOUR OWN HOME RIGHT NOW?

Click here to play video

A lot of people try to speculate on the real estate market and whether now is a good time to purchase. Monica Villasenor, a real estate investor at heart, has a few thoughts about it.....

Are you renting right now? How much does it cost you? Don’t just look at the right now, look down the road. Not far maybe a year or two. Sure, buying may be two hundred dollars more a month but is it really? Have you factored in the tax savings of let’s safely say $100/month? So you really would pay only $100 more per month to buy rather than rent. Have you considered the fact that mortgage rates are still at one of their lowest point in the last 50 years? You don’t think you can afford to buy now, what will happen if the interest rate gets above 12%, heck 18%. Oh well, some people would say that the price of homes will decrease in price to compensate. Maybe, maybe not. Construction costs and lands costs have increased over 200% in the last year alone. Builders and developers won’t build a project without a certain profit margin. Had I not bought this property for an exceptional price, the project wouldn’t pencil out with all of the upgrades that are required. In the year it took to get the approval for this condo conversion this property increase $500,000. I’m not bringing this up to toot my own horn, but to really drive home the point that a year of owning real estate can make a HUGE difference. The City of Redding has a great down payment assistance program. Come see me at the models when they open. If you really want to own your first home I’ll sit down and try to come up with a plan for you. Sell something on eBay, use your bike and save gas, get a roommate, whatever it takes. It’s not really a question of if you can afford to buy, but rather a question of if you can afford not to.

"OPPORTUNITY-YOU’LL ALWAYS MISS 100% OF THE SHOTS YOU DON’T TAKE."

Why Buy One of These Condominiums

1.Value-A full appraisal done in June 2006 estimated the after conversion value (included upgrades that will be done to the property) at $195,000/unit. There are currently only 12 listings in the entire City of Redding under $195,000 most of those are 50 year old homes that are similar in size to our condos, but in substantial disrepair.

2. Completely Refurbished-You are essentially buying as close to a new property as it comes. The City of Redding required so many upgrades, that essentially the buyers can rest assured that no unanticipated major renovations will pop up that will unexpectedly increase the association fee.

3. Condo Conversions are Highly Regulated and therefore provide buyers with a lot of protection-Years ago there were some dishonest developers that took advantage of buyers and disappeared. To avoid this from happening the city and especially the State of California have numerous regulations in place that protect the buyers. I would go into detail, but I don’t want to bore you.

4. Warranty-Warranty is provided for all systems for two years.

5. Financial benefit of home ownership. Please see our links for sites that go into the benefit of owning your home. Most people don’t factor in their tax savings into whether or not they can afford to buy, but should.

The carefree lifestyle that a condominium owner enjoys is not for everyone. Please make sure that you understand the benefits as well as the drawbacks that are part of owning a condominium.

Home Ownership Benefits

Home Ownership Center | Realtor.org Ownership Benefits