October Housing Sales …
Did you see the article in the Trib this week that said “October another mixed month for San Diego housing”? Essentially, the article says prices are down and sales are up…
So what’s causing prices to continue to stay low? … well our opinion is that until we see unemployment rates consistently well below 10 percent, and we see far, far fewer people in distress with their home mortgages, we’ll continue to see home prices continue on this bumping along the bottom of the housing market road.
So what’s causing sales to be be up? … well our opinion is that because of the high unemployment rates and homes in distress, the government is keeping interest rates low, and those than can purchase a home are doing just that.
So who is selling in this market? The home sellers that we are talking to right now are those that need to sell now for financial reasons such as: a) they can no longer afford to pay the home mortgage or want to cut their losses, b) their home needs have changed (i.e they are downsizing (retirement home), upsizing (pregnant or moving parents into their home) or separating/divorcing, c) the owner has passed away and the heirs do not want to retain the home, or d) the owner has been transferred out of San Diego. All valid reasons in any market to sell. And with the low interest rates, buyers continue to be intrested in buying.
So who is buying in this market? The buyers that we are talking to right now are: a) first time buyers b) buyers who have previously lost a home and/or job and have gotten back on their feet c) buyers who have relocated to San Diego, and d) investment buyers (both buy & flip and buy & hold investors). Again, all valid reasons to buy in this market.
So, what we are saying is that if you are a home owner and want or need to sell, homes are selling. And if you are considering buying a home, there are homes available to purchase. In my college days when interest rates were in the high teens, I recall one of the students (maybe it was me…) asking the statistics professor, why would someone buy a house right now — and her response was .. the best time for someone to buy a home, is when it is the best time for their circumstances to buy a home.
We agree …
So, if you are considering buying or selling, give us a call for our experienced opinion.
See you around the neighborhood!
Trisha & Judy, REALTORS
Trisha Daly / Judy Bramer
SOLD@TrishaAndJudy.com
www.TrishaAndJudy.com
858.490.8112 – office
RE/MAX Associates
DRE# 006953900 / 01341642
