Costa Mesa's Neighborhood Blog

A blog about Newport and Costa Mesa with an emphasis on Costa Mesa Real Estate and Newport Beach Real Estate, written by a lifetime local resident of coastal Orange County whose knowledge of the area, combined with a strong background in mortgages, real estate and being an attorney, gives her clients many advantages.

Warren Buffett Says He Would Buy Loads of Single Family Homes

Warren Buffett Says He Would

Buy Loads of Single Family Homes

 

He points out that several years ago, people were very eager to buy homes because prices were going up, but not despite low prices and low interest rates, people are concerned about buying because prices may go down. Warren Buffett believes this combination makes it a good investment. He recommends buying single family homes both for living in and for rentals or income property.

Please see the interview at Warren Buffett on Single Family Home Purchases.

Costa Mesa Realtor

Do you agree with Warren Buffett? Do you agree that with homes prices down 35-40% in Costa Mesa from the high of just a few years ago and interest rates at or near historical lows, that it is a good time to invest in your future? Are you considering buying a Costa Mesa home? Would you like to know what Costa Mesa homes for sale are good deals? If so, please contact Christine Donovan at 714-319-9751 to find out how you can take advantage of this opportunity.

Originally Posted at: Warren Buffett Says He Would Buy Loads of Single Family Homes

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About the author: Christine Donovan is a California Residential Real Estate Broker with experience in assisting clients buy and sell residential real estate.

Are you upside down in your home? Is it worth less than you owe? Are you concerned about making your mortgage payment? For more information see Options to Foreclosures, understanding short sales or contact me at christine@donovanblatt.com to discuss your options.

If you want to buy a home or to list your property for sale, please click Newport Beach homes, Costa Mesa homes, Huntington Beach homes or Orange County homes.  Click the link if you are interested in buying a home at a courthouse auction sale.

Contact me at christine@donovanblatt.com or 714-319-9751 to learn about her system which will make your buying and selling experience easier.

Disclaimer: All information in this blog is deemed reliable but is subject to change at any time and is not guaranteed to be accurate nor are there any warantees either express or implied. This blog is not intended to offer any legal, tax or other advice.

Federal Government Disclaimer (MARS) 

  1. You may stop doing business with us at any time. You may accept or reject the offer of mortgage assistance we obtain from your lender [or servicer]. If you reject or accept the offer, you do not have to pay us.  
  2. Christine Donovan, DonovanBlatt and Donovan Group are not associated with the government, and our service is not approved by the government or your lender; and 
  3. Even if you accept this offer and use our service, your lender may not agree to change your loan.

Click Orange County homes for sale to view all OC homes for sale.

9 comments • Christine Donovan Costa Mesa CA Homes Broker/Attorney 800-610-7253 DRE01267479 • March 02 2012 07:17PM

Buying a home ... in this economy? --- Yes, in this economy.

In Orange County, this is a time when prices have dropped 38% from the peak just a few short years ago.

The first time buyer index for California was 59% in the fourth quarter of 2008.  It was in the mid-teens just a few years ago.

Interest rates are at a 32 year low.

Should you buy now?  It depends upon your situation, and it certainly makes sense to take a look at the opportunities and decide if you should take advantage of all the opportunities currently available.

 

 

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About the author: Christine Donovan is a California Residential Real Estate Broker with experience in assisting clients buy and sell residential real estate.

Click for a free list of Orange County foreclosures or a free list of Orange County short sales or e-mail Me!

Are you upside down in your home? Is it worth less than you owe? Are you concerned about making your mortgage payment? Contact me at christine@donovanblatt.com or 714-319-9751 to discuss your options.

Want to buy a home or to list your property for sale in Newport Beach, Costa Mesa, Huntington Beach or Orange County? Contact me at christine@donovanblatt.com or 714-319-9751 to learn about her system which will make your buying and selling experience easier.

Click Orange County homes for sale to view all OC homes for sale.

***************************************************************************I  I think Will Nesbitt gives buyers many things to consider carefully in his post below. 

Via Will Nesbitt - condos / real estate in Alexandria, Arlington, Fairfax County (Condo 1 Alexandria / Will Nesbitt Realty LLC):

These are the scariest economic times that I can remember.

The President of the United States is attempting to instill confidence by telling us to act quickly or we face certain doom. The Congress is saddling the nation with mountains of debt called "investment" and drafting a spending bill with another 9,000 earmarks. Meanwhile, despite the distraction of a sideshow fight between Presidential advisors and a radio talk show host, the stock market is tumbling. I have friends that have lost hundreds of thousands of dollars of value in the stock market.

Who knows when and where it will all end up?

What if this is 1931? 

Free Photo of Men Waiting In Bread Line During the Depression, 1933. Click Here to Get Free Images at Clipart Guide.comWhat if our country is facing 10 years of depression followed by five years of war?

Does that mean you shouldn't buy a house?

Would it be wise for a buyer to postpone the purchase until this mess is ended?

In these scary times even the most brazen buyer must pause before signing that dotted line. Even the most stalwart optimist has to feel a little wobbly right now.

 

But ... life goes on.

Free Clipart Picture of a Vintage Illustration of an Outdoor Birthday Party. Click Here to Get Free Images at Clipart Guide.com

Even during the Great Depression, even during a World War II---life goes on.

Life goes on.

I assure you: during the Great Depression mothers birthed children. Even in the worst crisis, people need new homes and land new jobs.

Whether it's after the Depression, the Recession of the '70's or after the U.S. Civil War, young adults leave home and take up their own space. Retirees are downsizing today.

For one reason or another at this exact moment people want or need to buy homes right now.

If you're one of those people who need a home, you can take advantage of the turmoil to secure a bargain. Or you can postpone your life's needs for 10 to 15 years. I submit that postponing your life is not only foolish, it's impractical. 

For example, if you need to buy an extra bedroom for junior you can't wait until the economy is right for junior. In 15 years junior won't be living with you anymore. He'll be a young adult with a chip on his shoulder because he slept in the living room for the last 15 years.

The fundamental questions.

If you find yourself in a position where you are considering purchasing a home, you have to come back to the fundamental questions that many buyers didn't consider for the past five years.

  1. Can you afford it? 
    • If you can't afford it, don't buy it.
  2. Is it the home for you? 
    • Your perfect home is for sale right now. Don't settle. 
  3. Do you need it or want it more than it will cost you?
    • Measure your budget against the amount of happiness the home will bring you.  Would you prefer a vacation or a big screen TV or would you prefer to own this house? 

These are the fundamental questions of buying a home.

If you can afford the price, and this is the home for you, then, economy be damned, you should buy the home. Things aren't getting better soon, but life still happens.  Each breath you draw brings you closer to the last one you draw, so you might as well live your life in the manner which serves you best.

Where do you want to live?

If you pass up on the home that you want, need and can afford because you're scared by economic news, then you'll spend the next fifteen years living in regret instead of in your home.

Where do you want to live: in your home or in your regrets?

 

 

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About the author: Christine Donovan is a California Residential Real Estate Broker with experience in assisting clients buy and sell residential real estate.

Are you upside down in your home? Is it worth less than you owe? Are you concerned about making your mortgage payment? For more information see Options to Foreclosures, understanding short sales or contact me at christine@donovanblatt.com to discuss your options.

If you want to buy a home or to list your property for sale, please click Newport Beach homes, Costa Mesa homes, Huntington Beach homes or Orange County homes.  Click the link if you are interested in buying a home at a courthouse auction sale.

Contact me at christine@donovanblatt.com or 714-319-9751 to learn about her system which will make your buying and selling experience easier.

Disclaimer: All information in this blog is deemed reliable but is subject to change at any time and is not guaranteed to be accurate nor are there any warantees either express or implied. This blog is not intended to offer any legal, tax or other advice.

Federal Government Disclaimer (MARS) 

  1. You may stop doing business with us at any time. You may accept or reject the offer of mortgage assistance we obtain from your lender [or servicer]. If you reject or accept the offer, you do not have to pay us.  
  2. Christine Donovan, DonovanBlatt and Donovan Group are not associated with the government, and our service is not approved by the government or your lender; and 
  3. Even if you accept this offer and use our service, your lender may not agree to change your loan.

Click Orange County homes for sale to view all OC homes for sale.

0 comments • Christine Donovan Costa Mesa CA Homes Broker/Attorney 800-610-7253 DRE01267479 • March 06 2009 11:30PM