Both the North County and San Diego housing markets saw strong year-over and month-over price increases in February. This is because demand continues to exceed supply even with today’s higher interest rates.
When you’ve lived somewhere for many years, it can be tough to say goodbye. But if you (or a loved one) currently have a home that is bigger than necessary or is too high maintenance, it may be time to trade unused square footage for a smaller, more manageable space and downsize your home.
Buying a new home is one of the most exciting experiences in life. And if you’re like most homebuyers, you’ll be planning your furniture placement and decor before the ink dries on your offer. But furnishing your new home can be costly.
To avoid buyer regrets, make sure you consider your future self when shopping for a home.
Most new homebuyers don’t regret becoming homeowners. In fact, according to a survey by LendingTree, 80% of recent buyers who successfully overcame a challenging housing market say they’re glad they found their current homes. But that doesn’t mean newly-minted homeowners don’t have any regrets about their buying choices.
It’s not easy being a first-time homebuyer right now. At the end of last year, housing affordability hit an all-time low. Additionally, mortgage rates have risen significantly since 2021, while inventory remains tight for many property categories, but especially for starter homes. Even lower-priced condos are harder to snag these days, as investors and downsizers muscle out first-timers by offering stronger, often cash-heavy bids.
Deciding whether to jump into the housing market or rent instead is rarely an easy decision. This is especially true if you’re a first-time homebuyer. But in today’s whirlwind market, you may find it particularly challenging to pinpoint the best time to start exploring homeownership. Here are some ways to figure out if it makes more sense to buy or rent.
Mortgage rates have more than doubled in a matter of months. This is making homes much less affordable for today’s buyers. It’s also softening the strong seller’s market we’ve experienced over the last few years. Because of this, it’s important for home sellers to use all of the tools at their disposal to make their homes as marketable as possible. It’s equally important for home buyers to make their home purchases as affordable as they can. One way you can do this is with an interest rate buydown. An interest rate buydown reduces the monthly mortgage payment for the home buying borrower.
The process of buying a new home can be both exhilarating and exhausting. But the journey doesn’t stop when you close on your property. On the contrary, you still have quite a bit to do before you can begin the process of settling into your new place. And making your move more efficient and less stressful will be a big help.
Our nation is in the midst of a serious housing crunch. Over the last year, a lack of inventory and soaring prices left many would-be homebuyers feeling pinched. But now, with interest rates climbing, many of them are also feeling desperate to lock in a mortgage. This has only added fuel to the fire making it harder for buyers to have that winning offer.
Double-pane windows have lots of great benefits and will increase the value of your home. But they also have drawbacks that window companies fail to mention when promoting them and touting their energy savings. As a REALTOR, I get to see how they function (or sometimes don’t) in homes.