Monday, January 29, 2018 / by Sean Zanganeh
This is a fantastic article that our company President, Steve Rodgers just wrote in the Union Tribune this past weekend..
Year in and year out San Diego finds itself ranked among the top of the list for tourist destinations earning a well deserved reputation as a hotspot for both national and international travel and vacation. According to “Forbes Traveler”, San Diego is among the top ten vacation destinations in the United States. Appropriately nicknamed “America’s Finest City,” San Diego boasts picturesque scenery, perfect weather and an ideal place to live. In fact a national survey in January ranked San Diego second among the most desirable places to live in the country. Recently the local industry coined the phrase “staycation getaway” as a reason to play tourist in San Diego. More than likely you used your local knowledge to create the perfect “staycation,” here in San Diego. In the end you were probably able to save a little extra money. Now that little extra money can represent your chance at owning a piece of paradise. Since April median home prices have been steady. Nationally, closed home sales have risen over the last three months and pending contracts have been up the last five. What’s more, a recent real estate industry article positioned San Diego as one of four cities in the United States expected to have a better than average price gain over the next two years. There is no exact science to understanding when the bottom of the housing market will be but I think it is safe to say that this is a great time to buy. The government has offered incentives to first time home buyers. Pair those incentives with some of the lowest mortgage rates to date and the American Dream of Homeownership all of a sudden seems very attainable. First time buyers shouldn’t wait: take advantage of first time buyer credits of $8,000 that continue through November 30th, and then expire. You can even use your buyer credit as a down payment. If you’re a military veteran you have the luxury of “no money down” buying opportunities as well. Some of the key ingredients supporting this opportunity are the continuing low interest rates. In January, Freddie May announced mortgage rates reached the lowest rate on record at 4.96% (their records date back to 1971). Nine months later mortgage rates are still among some of the lowest to date settling around 5.2 and 5.3 percent. These low figures have stimulated the market and local and national home owners are buying again as their market concern and buyer hesitation begins to dissolve. There has been concern about another pool of foreclosures in the pipeline ready to hit the market and how those foreclosures could negatively affect property value and our overall economy. These properties will create the ultimate buyers’ market and in my opinion will have little to no negative affect on the overall market. The economy will remain relatively stable for the next year or so with potential upside looking very promising. It’s time to think of home ownership as an investment in your future. Having a place that you can call your own is rewarding. It’s gratifying. Not to mention owning a home and building equity is the single greatest source of financial security and at the end of the day you’re building a nest egg to help you balance your future goals. Let an experienced professional real estate agent help you take advantage of the opportunities that can help you achieve the American Dream of Home Ownership. Own a piece of paradise in the city that we are all so fortunate to call home, San Diego.
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All Information provided by Shaheen "Sean" Zanganeh