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[May 2018] San Diego Real Estate Update

 

WATCH OUT! Mortgage Rates on the Rise Again!


They said this day would come.. Well folks, I’m here today to report that sure enough the F.E.D. has just delivered another promised increase to our mortgage rates. Be aware that rates are scheduled to increase several increases are set to occur several more times over the year… 

As we turn the page and head into the more palatable days of summer, we can expect our local housing market to pick up speed and all signs suggest our housing prices will continue this steady climb into the foreseeable future. With mortgage rates on the rise – buyers will soon realize the real threat time now plays against housing affordability. 

As for the recent rise in mortgage rates – buyers will realize these climbing rates are not just distant  threats on the horizon, but rather a costly condition of today’s housing market. Especially for first-time buyers and those looking in the lower-tier homes, these steady rising rates should be cause to push buyers out there and purchase their home during these next few summer months before its too late.

Many sellers and builders are in a good position for financial gains, as the economy continues to favor sales of existing homes and constructing new homes for sale. As we predicted just last month, the market has officially shifted on a national level – after more than two years of waiting, we are finally seeing some upward movement in new listings hitting the market here. Remember, we’re talking slight shifts here – we still maintain a sellers’ market with inventory levels still well below the line of demand, so buyer competition and price increases are still active conditions in our present housing market and likely will continue for the next several months.

Here’s the numbers to back that up…

Buyers Advice:

Ok, now we don’t want to scare you – but as our mission is to serve your best interests first as your real estate advisors. In that effort, we speak candidly here and want to alert our local home buyers to these condition changes within our San Diego housing market. 
 
So that being said, here’s our message to all buyers out there: GET OFF THE FENCE!!! Rising mortgage rates are like logs on the fire. Alongside all other factors now in play – trust me, time is the enemy here. Home prices are going to continue to climb, now steadily alongside mortgage rates as well for the foreseeable future – that means as time goes on, buyers will edge closer and closer to their affordability line. Remember, buying versus renting in San Diego is still the better move for most, but NOW IS THE TIME TO BUY!!!! Want to discuss what next move is best for you?
 
[ Ask about our Premiere Buyer Services.. ]

Sellers Advice:

The competition has arrived… inventory numbers are gradually edging back up and those white hot days of selling your home for $10K+ over asking in just 1 day on market are officially over. However, you should rest assured that our housing market can absorb the impact of these rising mortgage rates for some time here – meaning that your home price will not be negatively impacted by this buying factor at this time. Now that’s not going to be the case indefinitely… time is a factor working against sellers here as well. Eventually home prices will start to feel the market affects of these climbing mortgage rates, especially for lower-tier homes. That being said, your best results will be achieved selling your home sooner rather than later here… right now you can still expect your home will sell fast and for top dollar, so long as you plan properly. Your home can be your best financial asset – don’t leave money on the table.. Take the proper steps to get top dollar for your home today!

[ Ask us about our Hands Free Selling System… ]

 

  1. 3 beds, 3 baths
    Home size: 2,128 sq ft
    Lot size: 6,795 sqft
    Year built: 1991
    Days on market: 0
  2. 4 beds, 3 baths
    Home size: 1,964 sq ft
    Lot size: 4,356 sqft
    Year built: 2002
    Days on market: 0
  3. 3 beds, 3 baths
    Home size: 2,540 sq ft
    Lot size: 9,147 sqft
    Year built: 1974
    Days on market: 0
  4. 3 beds, 2 baths
    Home size: 1,614 sq ft
    Lot size: 5,662 sqft
    Year built: 1974
    Days on market: 0
  5. 3 beds, 2 baths
    Home size: 1,630 sq ft
    Lot size: 18,730 sqft
    Year built: 1989
    Days on market: 0
  6. 2 beds, 2 baths
    Home size: 1,139 sq ft
    Lot size: 31,363 sqft
    Year built: 2002
    Days on market: 0
  7. 3 beds, 2 baths
    Home size: 1,055 sq ft
    Lot size: 6,800 sqft
    Year built: 1960
    Days on market: 0

See all Real estate matching your search.
(all data current as of 6/20/2018)

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

 

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