Southern California Real Estate Market 2015

It's been a while since the last time that I posted an article on my blog due to heavy workload.

If you got to review my previous posts, you can find out that my vision was in the right direction so far. So, I have clients keep asking if it is still a good time to buy? Or should they wait? My answer to them is you have 6 months left from now to scout for the house either for your investment purpose or as your primary residence. Why? The answer the simple: the Fed is going to adjust the interest rate in the second-third quarter this year. Even though the real estate market seems to be slow for the past 12 months not to mention the transaction volumes was drop more than 25% compared to the same period the year before(2013). The entire market sales price still increase around 10%. The reasons are lower unemployment rate, market recover, and consumer power grow. But, the most important factor is the interest rate still remain relatively low. So, as long as the interest rate are still under 5% til mid year, I think it's still a good timing to buy/invest in real estate.

The second most common questions that my client often ask is: Where is the best place to invest now since all price seem to go up already? I suggestion will be towards the east but trying to stay within west of Fwy 15. The reason is because some of the more prosper area in Inland Empire such as Rancho Cucamonga, Ontario, Corona, and etc where you can still find some bargain if you are lucky and even now some of the standard sale are not really that expensive as expected. Also, there are some new construction plans in the area which will also help real estate market to recover faster. Therefore, pick the city within these area and find the best fit for your family can help you save some money while still enjoy some appreciation in the future.

If you have any questions or thoughts about my statement above, please do not hesitate to send me an email. If you are looking to buy the house in SoCal, please give me a call and I would be more than happy to find the best place for you and your family. Thank You

Happy 2015!

Jim Hung
Realtor
hajime0204@gmail.com
626-757-1520