Many people feel there is no way they can buy a home now, with the housing market in the shape it’s in. Because of the slump in the housing market, people think they are better off renting instead of buying; after all, why should you invest in real estate in Los Angeles when the prices of the homes are all falling? The reality is that the fact that the prices of homes in Los Angeles are falling makes it a very good time to buy, especially when you compare it to renting over a long period of time. But, before you go out and purchase your ideal piece of real estate, it is a good idea to educate yourself, and one of the most vital components to buying or selling a piece of real estate is to find a reliable real estate appraiser in Los Angeles.
If you are one of those people who are wary about purchasing real estate in Los Angeles and think renting is a better idea, think again. When you purchase real estate in someplace like Los Angeles, the value will always go up. Granted, there are rocky times like the one we’re in right now where everything seems to fall apart, but if you are in it for the long haul real estate in Los Angeles is always desirable. Think about it, how many people do you know who wish they lived in this world-famous city, and with such a diverse community comes diverse real estate, which is why you want to look for an appraiser like Mahler & Associates Appraisals who specialize in the complexities involved with real estate in Los Angeles.
One of the best investments you can make is in real estate, again especially in someplace like Los Angeles. Just look at the numbers from the Federal Reserve when comparing homeowners vs. renters
The average American who earns $60,000 per year and rents has a net worth of only $25,000. The average net worth of that same earner who is a homeowner is nearly $300,000! Now that should put it in a clearer picture for you, and the housing slump actually works in your favor, here’s why:
The price of real estate in Los Angeles is sliding back down to more reasonable levels. Let’s face it, during the height of the real estate bubble in Los Angeles single-family homes were going for over $500,000! Talk about inflation; those prices were way over the actual value of the properties. But let’s be realistic, people that can’t afford to put some money down and pay the monthly mortgage should not be buying a house, and that’s one of the things that caused the mess we’re in, concerning real estate in Los Angeles. Tricky mortgage brokers and shady real estate appraisers in Los Angeles were manipulating numbers to make people think they could afford to buy real estate in Los Angeles, and now it’s all tumbling down around them. That’s actually another reason purchasing real estate in Los Angeles now is better than it was before.
All those people who got into real estate in Los Angeles but couldn’t really afford it are now walking away from their home, which means the banks are desperate to get rid of them. This desperation works in your favor because they are lowering the prices more and more everyday. But keep in mind, even with the banks lowering the price of real estate, you always want to hire a good real estate appraiser in Los Angeles to ensure the home is worth what it is being offered for.
So, if you are thinking about buying real estate now or in the future, an honest, reliable, high-quality real estate appraiser in Los Angeles is worth their weight in gold. But, don’t just take my word for it, research real estate in Los Angeles yourself, and make sure to look for a reputable real estate appraiser in Los Angeles, and you just may find yourself sitting pretty in your own home sooner than you think.
Visit us at www.iappraiseforyou.com for more information about real estate appraisers in Los Angeles.