Since this is the year to buy a home for us, I’ve been keeping a close eye on our real estate market. It’s crazy, but the Southern California market has rebounded almost back to where it was during the peak of the housing boom. Not quite as crazy, but almost. So finding a home below $400,000 will be a challenge.

I’m in a mad frenzy to save money and buy a home by late next fall. That gives me a little more than a year (14 – 16 months) to save up enough cash for a down payment. However, in Southern California, homes are crazy expensive! I’ve budgeted a reasonable amount for a “starter” home and am hoping to snag one for under $410,000.

A funny thing is happening again in the housing market in my neighborhood; houses are jumping in price by 30% or more. Now, it’s not like housing ever really “bottomed” out here – housing prices did dip a bit, about 15-20%, but they were still very expensive compared to the rest of the nation.

Frustrated is how I’m feeling in regards to housing. I’m making a plan to purchase something – a townhouse or house – within the next 18 – 24 months and based on what’s available in my area, I’m utterly depressed.