Rent or Own?
Loading ...I had written an entry a few entries ago about now being a great time to buy because some homes are priced at what I believe is the bottom of the market. For those of you who read, I'll let you know that I still believe this is a great time to buy. Now of course this doesn't apply to all properties. You have to work to find the well priced REO's and short sales. I'm working on a purchase money transaction in Moreno Valley where the mortgage payment including taxes, insurance, and payments to principle are a little over $1,600. The house is a 3 bedroom home with a 2 car garage. Last time I checked a decent apartment in the same city can cost $1,550 for 2 bedrooms and there is no garage and you can't deduct any portion of the payments on your tax return.
That is why I know that some homes are priced at the bottom. Now yes, all homes aren't priced that low, but there are several out there. If you are curious to find them, give me a call (951-515-2120) or shoot me an email (InlandEmpireLender@mac.com) , because they are out there. I know they are because I'm working on 3 transactions that are just like this one right now.
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This article is syndicated from The Mortgage Blog
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