Is Now Still The Right Time To Buy An Orange County Home?

For the last 12 months the Federal Reserve has been applying a principle to the stock and Real Estate markets called “quantitative easing” and this principle has been positive for the economy as a whole in that it’s caused stocks to soar to new highs but best of all, the Fed’s policy has also produced a very positive effect for the nationwide Real Estate market.

Is Another Housing Bubble Coming?

As home prices have jumped by an average of 8% or more, across the United States, for the last year, Orange County Mortgage Brokers, Realtors and people who are interested in buying an Orange County Home want to know if another housing “bubble’ is around the corner because, current conditions in the Real Estate market are reminding many people of what the housing market looked like in 2007.

What’s Driving The Talk Of Another Housing Bubble?

The main issue driving the fear about another housing bubble, that many OrangeCounty Mortgage brokers and economists across the country have, is that incomes have only grown by just 2% in the last year alone while more and more people are approved for mortgages since mortgage interest rates are still historically low.

If income is only rising at a slow pace, will the average Orange County Home investor or buyer, who is prequalified for a mortgage loan, be able to pay off their mortgage, or will the end up defaulting and causing another wave of defaults across the United States? Only time will tell.

The Big Question – Should You Buy Now?

Regardless of the talk of another housing bubble, the question that potential homebuyers across the United States should have is this: “Should I buy an Orange County Home now?” and the answer to this question is simple: yes.

If a potential homebuyer has a solid debt-to-income ratio and at least 20% saved for a down payment then yes they should buy a home now in Orange County or elsewhere across the United States because.

Even if the homebuyer doesn’t have an excellent credit score, there are still plenty of other mortgage loan options available to them like: HUD, FHA or VA loans if they are in the military, and there’s no reason why someone shouldn’t take advantage of the great market conditions that’s making right now one of the best times to buy a home in the last 40 years.

To get an Orange County Mortgage Loan, contact the team of Orange County Mortgage brokers at Sun Financial Group today by calling us at (949) 699-1950 to get started on the path to home ownership.