Today I’m going to address a common misconception about the seasonality of the San Diego housing market. Although it is the end of the year and we are smack dab in the middle of the holidays, San Diego homebuyers may not know that now is the right time to be looking for and buying a San Diego home.
San Diego house prices and San Diego mortgage interest rates are still low, plus San Diego housing rents are soaring.
These are the three top reasons you should consider…
3 Important Reasons to Buy San Diego Real Estate During the Holidays
1. San Diego housing supply
- San Diego real estate inventory is still low based on previous years.
- Many San Diego homebuyers are not in the market during the holidays, so this naturally increases your opportunity to get that once-in-a-lifetime San Diego home purchase.
- Less San Diego homebuyers in the market, means less offers for the San Diego real estate seller and a better negotiating place for you, the San Diego homebuyer.
2. San Diego real estate prices and interest rates are rising
- A survey poll of home price expectation recently released a report projecting home value appreciation over the next five years between 12.3% and a whopping 32.8%.
- The National Association of REALTORS, Freddie Mac & Fannie Mae and the Mortgage Bankers Association are all projecting the 30 year mortgage rate will be over 5% by the end of 2014.
- A one percent interest rate will substantially impact a San Diego homebuyers monthly mortgage payment.
3. Owning San Diego real estate helps create family wealth
- When renting you are paying your landlord’s mortgage payment and creating wealth, for them.
- A recent study by The Fed revealed the average homeowner’s net worth to be 30 times greater than a renter.
- Right now San Diego real estate is selling “low” compared to where the San Diego home prices will be next year.
It’s pretty simple, when is NOW a good time to buy your San Diego home?
And, I am here to help. To talk about your options, call me, Kim Ward at 619.741.0111.