Q: What is the current real estate market like in Southern Orange County?
A: I think it’s a good time to buy if you’re going to stay at the property for at least 4-5 years, or longer. If you are going to be selling prior to that, I do not think it’s a good time to buy.
A: The values are still decreasing. While they are decreasing, you are going to have closing costs on both ends and your going to end up losing money.
Q: How much further do you think the market is going to go down?
A: Probably from this point in South Orange County, another 5% over the next 2 years. Maybe this year it will drop 5% and then next year nothing. And then an increase or a couple percent this year and a few percents next year.