Wednesday, February 11, 2009

Is Now The Right Time To Buy Real Estate?

By Nick Porcell

Syd Leibovitch knows a lot when it comes to real estate. He has been in the business for almost twenty-five years, and twenty-two years of owning his own real estate firm, Rodeo Real Estate in Los Angeles, California. Today, his firm is the single largest independent owner real estate firm in all of California.

According to Syd Leibovitch, today is a great time to buy real estate. However, in the economy of today people have to be able to understand what they truly can afford. Leibovitch coaches the agents at Rodeo Realty to help their clients determine what they can truly afford. He encourages people to consider the cost of the mortgage, property taxes and money for unexpected repairs before deciding to purchase a home. "If you don't buy now you're going to wish you did," Leibovitch says. "The market already hit bottom and is on its way back up, except for the high end, which always lags behind." But with the banks refusing to give out loans, only the most qualified buyers would be able to get the mortgage they needed in order to purchase a house and the rest will just have to wait until they become more qualified or it becomes easier to get a loan.

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