Buyers: Believe it or not there is good news about our current real estate market! Interest rates are back to low 2003 levels and there are affordably-priced homes available. Even though foreclosure rates have slowed, it’s most likely only temporary, as short sales and foreclosures will continue to dominate the sold properties. Buyers that are still on the fence, remember: even if neighborhood prices go down another 10%, and interest rates go up just a ½ percent, the monthly payment will be the same. Also, all first time homebuyers get to take advantage of an $8,000 tax credit if you purchase before December 1, 2009. What’s more, first time homebuyers receive an additional California tax credit of up to $10,000 when purchasing a newly constructed home. 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.
Sellers: Consumer confidence continues to decline because of worsening business conditions and a rapidly deteriorating job market. The serious buyers that are qualified and are making offers also pay close attention to the state of the economy and their top dollar. So it should be no surprise that non-distressed home sales, that are not priced to compete with the best-distressed properties nearby, do not draw activity. Some of the better valued properties have recently drawn as many as 40 offers. Visit SanDiegobythesea.com to see how we will sell your property. If you know anyone who is thinking about selling, please let me know how I may be of assistance.
