Are home values rising or dropping? If your a numbers kind of person review the Alammeda County sold statistics brokend down by each city.
Find out about Scott G Harrison his accomplishments. Alist of real estate sold can be viewed below as well as client referrals.
News: "Rankings spotlight classroom struggle 21% of state schools achieve
coveted 800 score on pivotal Academic Performance" Index "
Quotes Scott Harrison relating to school scores and homes prices"
Nanette Asimov, Chronicle Staff Writer
News: "California wants new houses, bubble or not"
By Mark Sappenfield | Staff writer of The Christian Science Monitor
from the March 10, 2005 edition Quotes Scott Harrison on
Why it is a good time to buy while prices dropping? 5/15/06
Should you hold off and buy later when prices are lower or not?
Lets make some assumptions about the market taking a correction. I feel that if it does go into a down trend it may be like just after the Loma Pretta earthquake when it dropped 3% per year for six years (about an 18% Adjustment). I also feel that it is likely that the Federal Reserve will raise the federal funds rate 1% (more is possible too) over the next 12 months. So lets say we finance 100% of $516,960 at 6% on a conventional 30 year loan to look at our Payment VS waiting a year factor in the drop in price and increase in interest rates to see what would be best.
Buy Today Buy 1 year from now 3% drop
Borrowed amount $516,960 Borrowed amount $501,451
6% Monthly Payment $3100 7% Monthly Payment $3,336
Monthly Property Tax $538 Monthly Property Tax $522
Insurance $100 Insurance $100
Total $3738 Total $3958
Cost of waiting in the above scenario will be $220 monthly not including not having the interest deduction write off on your income taxes. To see some raw monthly data on home prices look to the top of the page.
