Let's face it- The Holidays are a stressful time of year. From November 15th to January 2nd we are wrapped up in grocery lists, extended family visits, and party planning. BUT! If you have an ounce of time to dedicate to buying a home, now is the perfect time... here's a few reasons why!
1. Less competition...
Most buyers take November & December off from house hunting, allowing you to slide in and have your offer accepted without bidding against other families!
2. Motivated (if not, desperate) Sellers...
Whether it's relocation, tax benefits, or needing an excuse to NOT host extended family this year, November & December sellers are motivated with a capital M! Motivated sellers mean more negotiating power!
3. Speaking of Tax Advantages...
Homeownership brings many tax perks- and for those who didn't realize, can work in favor of both buyers & sellers. Talk with your Tax professional to see if you are able to write off your mortgage interest & property taxes!
4. Tis' the Season, After All...
Homes always look marvelous with fresh blooming flowers & warm sunshine flooding in... But, with colder weather comes rain & dim, cloudy days. This is a great time to see what a property will look like in the not-so-glamorous (and not so sunny) months.
5. True, Hardworking Professionals at your Disposal...
It's no surprised that many Real Estate Agents slow down, or stop working all together during the Holidays. I mean, we ARE human too... But, this also means that the Agents who ARE working are the ones who will put you first and bend over backwards to get you into your new home!
Want to search for your perfect home?
Set up a custom home search here!
Realtor & Gingerbread House Constructing Queen
Blockbuster refused to buy Netflix for $50 million, Netflix is now worth $83.4 BILLION. (And where is Blockbuster?)
MySpace rejected Facebook's original purchase price, Facebook is now worth $519 BILLION. (And where is MySpace?)
George Bell, then CEO of Excite, refused to buy Google for $750,000, Google is now worth $717 BILLION. (And where is Excite?)
Ross Perot refused to buy into Microsoft for $60 million, Microsoft is now worth $647.5 BILLION. (And where is Ross Perot?)
When people say NO to you, just keep going.
You're worth MORE than you know and your time is coming.
When they laugh at your goals and dreams, let them laugh while you keep going.
Later they will be telling everyone how they met you and wish they would have joined you!
San Diego county is facing a major lack of inventory crisis! It is as simple as your high school economics tearcher's lesson on * Supply & Demand*.
There is a lack of homes on the market (low supply) which is causing home prices to sky rocket (high demand.)
What does this mean for home owners?
- Now is the best time to sell your home! You will likely receive offers within 1 week and for at, or over asking price. You may even have buyers start a bidding war, in which case the sales price will increase significantly!
What does this mean for buyers looking to purchase?
- Home prices are at an all time high... it may be best to wait to purchase until the end of August. Although, there is a high chance that interest rates will increase by that time. In my personal opinion: buy now to avoid high rates, and let the sellers rent back for 60 days at your PITI (Principle, Interest, Tax, Insurance) aka your mortgage payment. That way you can get into the home now with a low rate, and live mortgage free for 2 months and not risk interest rates going much higher.
The San Diego housing market is stronger than ever! If you've been considering selling, email or call me today to get a complimentary CMA (Comparative Market Analysis) which will tell you what your home is worth in today's market. Or, if you've been renting and are noticing it may be cheaper to buy a home, call or email me to set up an appointment to go over your options!
p.s. Renters- you may be concerned that a house payment is the same or more than your current rent. However, something to keep in mind is that you can write off part of your mortgage! Can you do that with rent?
Give me a call today! 760.271.1556
The Fed raised rates, and sees two more hikes this year.
For the first time this year, the Federal Reserve raised interest rates, a widely expected move following strengthening economic reports and signals from Fed officials.
After its two-day policy meeting, the Federal Open Market Committee voted to raise the range of the federal funds rate to 0.75% and 1.00%, citing progress in labor market growth, business fixed investment and inflation.
“In view of realized and expected labor market conditions and inflation, the Committee decided to raise…the fed funds rate,” the central bank wrote in its statement.
One member of the committee, Minneapolis Fed President Neel Kashkari, voted against the decision, preferring to keep the federal funds rate between 0.50% to 0.75%. Kashkari is a new voting member of the FOMC this year.
The Fed’s cautious, yet generally positive, economic statement follows a slew of improving data, including better-than-expected ISM manufacturing growth, strong consumer confidence reports and solid payroll gains. The unemployment rate has hovered around 5% for the past year—a level many economists consider to be near full employment.
In its statement, the Fed noted that inflation is “moving close to the Committee’s 2 percent longer-run objective,” but that “excluding food and energy prices, inflation was little changed and continued to run somewhat below 2 percent.”
Inflation has started to show signs of improvement after running below the Fed’s 2% target for years. The personal consumption expenditures price index, the Fed’s preferred measure of price inflation, increased 1.9% in January from the year before. Another measure of inflation, the Consumer Price Index, rose 2.7% year-over-year in February.
The Fed also reiterated its balance of risks statement, noting, “near-term risks to the economic outlook appear roughly balanced,” meaning that the economy is no more likely to surprise to the downside than the upside.
The Fed’s expectations for GDP growth increased slightly to 2.1% in 2018, while forecasts for unemployment remained mostly the same, with officials expecting the rate to fall to 4.5% by 2019. Officials raised their short-term outlook for core PCE inflation to 1.9% this year.
While projections for the federal funds rate rose across the board, the total number of expected rate hikes in 2017 remained unchanged with three quarter-point raises. In December, Fed officials raised their forecasts for the pace of rate hikes after the election of Donald Trump, which sent inflation expectations surging.
Officials also forecast three rate hikes in 2018, with the rate reaching its long-run goal of 3.0% in 2019.