Southern California is ranking 27th as the worst housing market. One in approximately 211 Southern California homes will be receiving a default, foreclosure or other type of notice. In February of this year there were 5,399 of these notices in Southern California, resulting in a 1.9% increase when compared to January and an 11% decrease when compared to the same time last year.
But housing prices have bounced back with a median price of $322,000 despite the number of notices during the month of February. The overall median price increased by up to 5.6% from January and increased by 13% compared to February . This is beneficial for home buyers because they will have a huge number of houses to choose from. But with so many options, you may have a hard time to find the perfect home for you. Here are some tips to help you find the perfect home.
* Select a neighborhood that fits your needs and preferences, safe and accessible.
* Pick a type of house that will fit your lifestyle and family needs. Consider the number of rooms, small/big backyard, pets or no pets, growing family, storage space and other necessary things. Also choose a house that has a style that fits your taste.
* Get a reliable real estate agent that will cater to your needs.
* Narrow your choices. After you’ve toured several homes and found a couple you really like, arrange to view the homes again.
* Take time to assess the market value of the house you’ve decided to purchase.
* Make an offer and negotiate with the seller.