The October 2017 San Diego Housing Market Report is showing strong year-over price increases, and a continued drop in the number of new listings and sales compared to 2016. Despite our lack of inventory, the San Diego County market moved up to number five on the hottest U.S. markets list from realtor.com® for September.Continue reading October 2017 San Diego Housing Market Report
The San Diego and North County real estate markets remain strong with good appreciation and short market times. Inventory is still at its lowest point since 2004. Despite the lack for homes available to purchase, March saw an increase in the number of homes that went under contract in both markets.Continue reading April 2017 San Diego County Real Estate Report and Interest Rates
Interest rates continued to increase, but the San Diego County and North County markets didn’t seem to care. San Diego edged up to number five on the hottest U.S. markets list from realtor.com® last month.Continue reading January 2017 San Diego County Real Estate Report and Interest Rates
The Fed hiked interest rates by .25 percent this week and expect continued increases in 2017. With rising interest rates and prices already putting pressure on affordability, what’s in store for the future? Here are predictions from eight real estate experts.Continue reading December 2016 San Diego County Real Estate Report and Interest Rates
Now that the election is finally over, what will Trump’s presidency mean to San Diego County real estate? No one really knows, but The San Diego Union-Tribune published an interesting article today citing higher mortgage interest rates and possible regulation cuts.Continue reading November 2016 San Diego County Real Estate Report and Interest Rates
The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) recently published its California housing market forecast for 2015. They are predicting something we are already seeing happen in San Diego County – moderate price increases and a return to a more traditional market.
Freddie Mac chief economist, Frank Nothaft, says that affordability, stability and flexibility are the three reasons homebuyers overwhelmingly choose a 30 year term. However, for those who can afford a higher payment, there are three additional reasons to choose a 15 year term: save interest, build equity and retire the debt sooner.
94% of purchasers last year opted for a fixed-rate mortgage at some of the lowest rates in home buying history. Yet, some of them will pay more in interest than necessary based on the time they’ll own the home.
If a person only plans to be in the home a few years, the adjustable-rate can offer significant savings.
Not only is the interest rate on the adjustable-rate lower than the fixed in the initial period, amortization on a lower interest rate amortizes faster than a higher interest rate.
With interest rates lower than they’ve been in over 40 years, it may be difficult to think of a “window of opportunity” closing. However, it isn’t difficult to understand that it may very probably cost more to live in a home in the near future due to rising interest rates and prices.
Zillow recently reported results from a nationwide study that home values are expected to appreciate by 4.5% through the end of the year. Coupled with Freddie Mac’s projection that rates are going up, the cost of housing for buyers by the end of the year will be higher than it is now.
The two most frequently quoted constants in life are death and taxes. Two more things would-be homeowners can expect in the near future are increases in mortgage rates and housing prices.
Interest rates have been kept artificially low for several years by the Federal Reserve in an effort to strengthen the economy. Policy is shifting to allow them to seek their own natural level and that will surely result in higher mortgage rates. Rates on 30 year fixed mortgages are up over 1% from January, 2013.