This question is always asked – is it the right time to buy? Well there are many factors in deciding if it is the right time to buy. First, are you (the buyer) financially ready? How is your credit score? What about job security? Next is to find out what amount you can borrow, and how much money you will need to put down on the home (this will vary depending on your loan). These are the first items that need to be addressed. Next is the city, location in the city, type of house that will meet your specific criteria and the cost of this home. After this is determined (along with some other minor details) you can now look at the condition of the market, compare interest rates to past markets and determine if it is a good time to buy for you.

I have watched the real estate market and researched past markets and found that anytime there are many years of appreciation (2001-2006) in price, at sometime there has to be a correction and that usually means depreciation in price. Well the Marin and Sonoma markets have depreciated from 10%-50%.

Also, the mortgage industry is offering amazing rates for FHA loans up to $417,000, at 4.8% with 1 point and first-time home buyers $626,000, interest rates at 5.25% with 3.5% down WOW!

In my opinion IT IS A GREAT TIME TO BUY! If you have any questions about homes in Marin and Sonoma Counties or Loans (Andrea “Andy” Shine RPM mortgage) please call me 415-328-2637 or visit my website at www.peterschardt.com. You can also reach me by email at pschardt@fhallen.com.


Posted By: Peter Schardt