Wednesday, March 26, 2008

Foreclosures & Rents Going Up

As the graph below demonstrates, the number of bank owned homes in Los Angeles County is growing rapidly. Also, rent is increasing making it possible for renters to purchase affordable single family homes. A 3 bedroom 1 bath bank owned home in Reseda is listed for $285,000. If your renting in Reseda, it may be cheaper for you to purchase a home. Keep in mind their are tax benefits to home ownership.

Some properties even include a guest house. Renting out the guest house will help you lower your monthly mortgage payment making buying a home even more affordable. If your tired of renting, call me 818-730-4128 or visit my bank owned site which lists hundreds of bank owned homes in the San Fernando Valley.

Image Source: Real Estate Research Council
Source: Los Angeles Economic Profile
March 2008
California Association of Realtors

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