If you live in Orange County, and you’re thinking about buying a home here, you may have wondered if high Real Estate prices make buying a home in this part of Southern California a good idea.
Why You Should Buy In Orange County
Over the last year home prices in Orange County have risen 21.6%, and they haven’t shown any signs of decreasing in spite of news like the Federal Reserve’s plan to taper their bond buying activity this year, or the increase in mortgage interest rates.
Home prices in Orange County continue to go up because of several key factors. The economy continues to improve and more people have jobs than they did at this time just two years ago. Those who also foreclosed at the beginning of the Great Recession are now able to enter back into the OC housing market, creating more demand for existing homes.
Don’t Wait For Home Prices to Go Down
If you would have purchased a home in Orange County during February of last year you could have seen a nice increase already in your home’s value and you could have the option of selling your home for a profit or renting it out to someone who recently relocated to Orange County and is eager to be a build a life here.
A Smart Investment
When you think about everything that Orange County has to offer including: great beaches, mountains, entertainment, sports, restaurants, shopping and more, buying a home here just makes sense. Regardless if you decide to buy your primary residence in Orange County, or a property to rent out, you are getting so much more for your investment thanks to the great amenities and options that Orange County residents have nearby. While the cashflow of the property may not be as good as say a place like Riverside, Orange County has consistently ranked as one of the best places in California for long term appreciation.
To learn more about home prices in Orange County, or to view the latest homes for sale that were recently listed here, contact Fred Sed & Associates today by calling us at (949) 272-0125.