I have been thinking about buying a second home. Yup, the market has tanked and everything is going to hell in a hand-basket -- especially in California -- which makes this a **perfect** time to buy. Interest rates are so low and attractive. With rates hovering between 4.5% and 5%, I can't help but believe this suppression of interest rates is unnatural and something's gotta give soon. So, I am feeling a great deal of pressure to buy a second home NOW.
Doomsayers are pointing to the falling market and predicting further price declines. And I say so what? Do I care if prices collapse a little bit? No, because in this market, when you're comparing sales prices versus interest rates, interest rates are gonna win.
I'd like to buy a second home on the ocean. Ideally, the best place to live in America is Hawaii, but my husband refuses to retire there, so I have to let go of that dream. Second best place is the West Coast on the Pacific ocean. It could be California, which is what I prefer because it's warmer, or even Oregon or Washington, which is my husband's choice. I've been searching to see what's available online. After all, it's not like I can hire a West Coast Oceanfront Agent, although somebody should capture those buyers. Oceanfront agents aren't running around like the ubiquitous Sacramento short sale agent. Real estate is local.
I've discovered that using Trulia works pretty well. I can use the "see all homes nearby" function, sort out the sold properties and then follow the map up the coast. I started in Ventura, because I suspect that's about as far south as I can get my husband to go. I've moved up to Newport, Oregon so far. We're hoping to spend under $500,000 and buy a small home on the ocean. Ideally, it would be 3 bedrooms and 2 baths, but we're willing to compromise. It doesn't need to be more than 1,500 or so square feet. Who needs a gigantic house?
So, what do you guys think? Where would you buy an oceanfront home on the Pacific? Where do you get the most bang for your buck and sweeping panoramic views from every room?
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Certified HAFA Specialist
My Sacramento Real Estate Listings
Elizabeth Weintraub is an author, home buying columnist for The New York Times-owned About.com, a Land Park resident, and a Land Park real estate agent who specializes in older, classic homes in Land Park, Curtis Park, Midtown and East Sacramento. Weintraub is also a Sacramento Short Sale agent who lists and successfully sells short sales throughout the four-county Sacramento area. Call Elizabeth Weintraub at 916.233.6759. Put 35 years of real estate experience to work for you. Broker-Associate at Lyon Real Estate. DRE License # 00697006.
The Short Sale Savior, by Elizabeth Weintraub, available at Amazon.com.
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