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August 2019 – San Diego Real Estate Update

You’ve heard the news, mortgage interest rates are down! 

San Diegans are in a great position to purchase. Whether you already own a home, are thinking of buying or you are gearing up to purchase, now may be a good time to make a move or possibly refinance your existing mortgage. 

The Federal Reserve recently cut its policy rates for the first time since 2008. After trending downward through much of 2019, mortgage rates have again fallen to recent lows.

In July, the U.S. economic expansion that began in June 2009 became the longest in the nation’s history, marking 121 straight months of gross domestic product growth and surpassing the 120-month expansion from 1991 to 2001. The average rate of growth during this expansion has been a milder 2.3 percent per year compared to 3.6 percent during the 1990s. Although the economy should continue to perform well for the rest of 2019, most economists see a mild recession on the horizon.

Buyers Advice: 

Buy, Buy, Buy! Housing affordability is at its highest point its been in the last 18 months. Mortgage rates are hovering below 4%. Record income levels combined with mortgage rates near historic lows mean consumer house-buying power is more than 150% greater today than it was in January 2000, This is the strongest moment of housing affordability in almost a decade – this is the chance to seize this market opportunity before the market changes in 2020 or 2021. This is the time to make your move. Don’t wait until it is too late!

Survey what’s on the market right now – Click Below to Start Your Home Search Today!

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Sellers Advice: 

Don’t be just another home on the market. We are about to see inventory levels and time on market increase and this is due to not preparing the home for market. Make sure to: Declutter, stage, paint, clean and etc… to get the home in the best shape possible. We are seeing record breaking prices for the homes that show well and are priced right. If you are interested in learning more about our award-winning Concierge Selling Services –  Contact Us Today and Ask if Hands-Free Selling is right for you!

Home Values are still on the rise in San Diego! What’s Your Home Worth Today?

Click Below for FREE Instant Value Estimate of Your Home…

FREE Home Value Estimate
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