Does Jim Cramer from MAD MONEY have a crystal ball for the Irvine Real Estate Market?

by Robert Mack on August 27, 2009

in Irvine Real Estate

Everyone knows who Jim Cramer is, and everyone loves listening to his investing advice.  So much so, that I just had a client of mine call me after 1 year at looking at emails that I have been sending him, to tell me….”Robert, I am now ready to buy a home in Irvine”.  I asked him what changed his mind, and he told me that he was watching MAD MONEY, and Jim said that “Right now is the right time to buy a home”.

You know what, Jim is on the right track, but it isn’t rocket science.  We all know that the FIRST TIME HOME BUYERS TAX CREDIT is expiring on November 30th, 2009.  This means that to qualify for this incentive, a buyer must not only find a home to purchase by this date, they must also close escrow to qualify.  Let’s add the fact that Irvine home prices have become so affordable in the past couple months, Inventory in Irvine is dropping, overall sales activity is up, and most importantly, interest rates are still historically low, ranging in between 5%-5.5% depending on the program you choose.

Obviously, Cramer is on to something, but I don’t think that he has a crystal ball giving him all the information.  We all see it, and now it is your decision to decide whether or not the time is right for you to buy your new home or not!

For more information on current Irvine, Orange County inventory, available homes for sale, or for questions on how you can benefit from our current market place, contact the Mack Team.

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Post by Robert Mack

Robert has written 727 articles.

{ 1 comment… read it below or add one }

Abadan August 28, 2009 at 12:24 am

I am in the market to buy an investment property, and I definitely can’t wait any longer, I’m afraid that it could be dangerous to my pocket book if I do so. I figure, the more I wait thinking prices and/or rates may drop further, the more rental income I’d be losing. Jesus! Am I crazy? As soon as I find something suitable I’m going to hit it with all my might. Of course, I must admit, the situation could be different if I wanted to buy my first or even a second home, and even at that, I wouldn’t spend too much time waiting. The name of the Band Wagon is BUYERS’ MARKET, when it’s gone, it’s gone.

I love Irvine, it’s such a sophisticated city. Wish me luck…

Abadan.

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