Is Now the Time to Buy in San Diego?

The San Diego real estate market is diverse with both buyers and sellers alike seeking a variety of different properties. As a prospective seller, you can find out the market value of your property with a free home value report right here, or if you're looking to purchase in the San Diego area click here for full MLS access. Always feel free to reach out to us for any questions regarding the current market conditions, or the value of your property at 619.977.8364.

Are you on the fence about buying a new home? Today, we want to give you a few tips to help you determine the best time to make your move.

If you're thinking about buying this year, it makes more sense to buy now than in the spring, especially if you're ready. Experts are predicting that prices will continue to appreciate - over the next five years, estimates range from 15% to 32%. 

Mortgage rates are expected to rise as well, which will lower the affordability of homes in the San Diego area. While rates softened at the end of 2014 and the beginning of this year, the consensus is that interest rates will rise throughout the year, possibly by as much as one percent. 

If you're still weighing whether you should rent or buy, remember that regardless of which you choose, you are always paying a mortgage. The question is: Do you want to pay your own mortgage and build your own equity, or pay the landlord's mortgage and build their equity? If you pay your own mortgage, you have the benefit of tax deductions. 

Owning a home is like having a forced saving account. Both the price of the home and the cost of the mortgage are crucial things to consider when buying a home, and currently, both appear to be on the rise. If you have a growing family, want to make renovations, put personal touches on your home, or simply want to stop paying off your landlord's mortgage, it might make sense to make your move sooner than later. 

If you have any questions, or need real estate assistance of any kind, please don't hesitate to give us a call or shoot us an email. We would love to help you! 

8 Fees that Frustrate Many Buyers and What You Can Do About Them!

The San Diego real estate market is diverse with both buyers and sellers alike seeking a variety of different properties. As a prospective seller, you can find out the market value of your property with a free home value report right here, or if you're looking to purchase in the San Diego area click here for full MLS access. Always feel free to reach out to us for any questions regarding the current market conditions, or the value of your property at 619.977.8364.

Buying a home can be a stressful experience for many reasons. One of the things buyers really get worked up about is unexpected fees. Today, we want to cover 8 common fees you'll run into when buying a home, so you're not taken off guard when you encounter them!

When most people prepare to buy a home, they figure out how much of a down payment they are going to need, but aren't aware that there will be additional fees. These fees can add up to as much as 3% of the purchase cost, which is often an unpleasant surprise for buyers. If you're purchasing a $500,000 home, not only will you need $50,000 for a 10% down payment, but you'll need $5,000-$15,000 in additional fees! These include:

1. Property taxes: These are prorated, and you'll split these fees with the seller based on your date of close.
2. Hazard insurance: Most lenders are also going to require you to prepay a full year of hazard insurance. 
3. Interest: Depending on when you close, you could pay up to a full month's worth of interest up front.
4. PMI: If you put less than 20% down, you might be subject to credit mortgage insurance.
5. Title insurance: These are typically split, with the seller paying for your policy, while you buy title insurance for the lender.
6. Escrow fees: These are usually split with the seller.
7. Loan origination: This depends on your lender.
8. Loan discount: If you're trying to get a lower rate, you may be able to pay some upfront fees to get one. 

These are 8 fees you really need to prepare for when you're getting ready to buy a home. You don't want to find the perfect home, only to realize you can't afford it after all the various fees are accounted for.  

There are a handful of ways you can reduce these fees, such as a seller credit, which we would love to discuss with you! If you have any questions about this topic, or would like real estate assistance of any kind, don't hesitate to give us a call or shoot us an email. We would love to be your real estate resource this year! 

What Will San Diego Real Estate Look Like in 2015?

The San Diego real estate market is diverse with both buyers and sellers alike seeking a variety of different properties. As a prospective seller, you can find out the market value of your property with a free home value report right here, or if you're looking to purchase in the San Diego area click here for full MLS access. Always feel free to reach out to us for any questions regarding the current market conditions, or the value of your property at 619.977.8364.

Hello and welcome back! I hope you had a wonderful holiday season! Today, I want to give you a brief overview of what you can expect to see from San Diego real estate in the coming months.

In the second half of 2014 we saw the market slow down as more and more sellers put their homes on the market - inventory increased, buyers became more selective, and market time increased. I expect this trend to continue in 2015, with a few things to look out for:

1. Inventory: In the first quarter I expect to see a very active market, as sellers rush to put their homes up for sale and buyers take advantage of low interest rates.
2. Affordability: The expectation is that interest rates will increase by about half a point in 2015, which will affect the amount of home you're able to afford.
3. Growing economy: The more money people make, the more affordable homes are relative to their income. 

The predictions from the big online portals, like Realtor.com and Zillow, suggest we'll see 4% growth in appreciation in San Diego over the next 12 months. Remember, that number will vary depending on the area of concern.

If you have any questions about changing market conditions and what they mean for you, don't hesitate to give us a call or shoot us an email. We would love to hear from you!