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What Just Happened to our Market??!

The market just got hot again.. WHAT??? Now, the market getting hot is by no means out of norm for us here in San Diego.. however HOW it happened certainly is odd!

We saw a relatively slow market start to emerge over the last couple months (slow by our standards, that is), but then lo and behold, summer is here and we are coming into a HOT summer selling season! Historically, this time of year does tend to see an activity increase across the country, but we’re talking about the slight cool down that happened for just a blink of an eye here. 

I believe the reason this happened is not just due to it being summer time, kids are out of school and people are getting freed to make a move.. but also I believe this to be in part due to the steady rising interest rates. On June 13th, the Fed raised rates 0.25%; this increase is primarily impacting those currently holding or purchasing with short term loans (such as ARM’s or Interest Only loans). I think this rate increase has been a push for buyers to hop off that fence and buy now versus waiting while the Fed delivers on their promise with raising interest rates close to 6% in our near future.

Here are the numbers we are seeing for this month…

Buyers Advice: 

As you already read in the article above, NOW IS THE TIME TO BUY! You know what type of market we’re in, what factors are on a clock.. so if you do want to purchase a new home in San Diego, any Realtor or Mortgage lender can express the same degree of importance to low interest rates. My advice to you is this – make this a real conversation for yourselves. If you are comfortable with the payment and can see yourself in that house for 5 years.. BUY NOW! Want to talk to a great mortgage lender about getting pre-approved? 

Contact us today!

Sellers Advice: ​​​​​​​

Don’t fall victim to thinking this market is SO hot you don’t need to prepare your home properly – I am seeing far too many homes hit the market that have not been staged, are unclean and have low quality pictures and marketing. Trust me, this will result in a huge chunk taken out from your net proceeds.. don’t start your selling process at such a costly disadvantage. Let us guide you through this process and insure that you WILL get top dollar for your home!

[ Find out about our Hands Free Selling System… ]

  1. 4 beds, 4 baths
    Home size: 2,608 sq ft
  2. 3 beds, 2 baths
    Home size: 1,285 sq ft
    Lot size: 7,405 sqft
  3. 3 beds, 2 baths
    Home size: 1,652 sq ft
    Lot size: 6,534 sqft
  4. 3 beds, 2 baths
    Home size: 1,244 sq ft
  5. 2 beds, 2 baths
    Home size: 977 sq ft
    Lot size: 5,077 sqft
  6. 3 beds, 3 baths
    Home size: 1,330 sq ft
  7. 2 beds, 3 baths
    Home size: 1,322 sq ft

See all Real estate matching your search.
(all data current as of 7/22/2018)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

 

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