Buyers: If you have thought about investing in another property, or buying your first home, it’s time to start your search. Interest rates have dipped to the lowest level in years, with a 30 year fixed rate loan now being available at under 6%. Our local real estate market has picked up a lot of steam, especially in the lower end bank owned properties. The combination of lower prices and interest rates has created exceptional power for serious buyers. And because December traditionally has lower buyer turnout, this may be the best time in the market to take advantage of these opportunities. You can view all homes for sale, including foreclosures, online at SanDiegobythesea.com If you know anyone who is thinking about buying, please let me know how I may be of assistance.
*Reminder to Buyers* If you plan to purchase a home with one of the new higher-limit, conforming loans, before the end of the year, remember, the new, higher conforming loan limit of $697,500 expires at the end of the year. You must have your loan funded by then. Starting January 1st, the conforming loan limit will be $546,250.
Sellers: Although home sales continue to rise for the fourth month in a row, the median priced home has dropped, mainly because the number of entry level homes selling far exceeds the rest of the market. Competing with distressed home sales will continue to be difficult. Visit SanDiegobythesea.com to see how we can sell your property. If you know anyone who is thinking about selling, please let me know how I
may be of assistance.
