Eddie Sells 619

02/25/2025

Whether you're buying or selling, I'm here to help you every step of the way. Contact me today to get started! @ 619.371.0641

04/01/2024

Why Is Housing Inventory So Low?

One question that’s top of mind if you’re thinking about making a move today is: Why is it so hard to find a house to buy? And while it may be tempting to wait it out until you have more options, that’s probably not the best strategy. Here’s why.

There aren’t enough homes available for sale, but that shortage isn’t just a today problem. It’s been a challenge for years. Let’s take a look at some of the long-term and short-term factors that have contributed to this limited supply.

Underbuilding Is a Long-Standing Problem
One of the big reasons inventory is low is because builders haven’t been building enough homes in recent years. The graph below shows

new construction for single-family homes over the past five decades, including the long-term average for housing units completed:

For 14 straight years, builders didn’t construct enough homes to meet the historical average (shown in red). That underbuilding created a significant inventory deficit. And while new home construction is back on track and meeting the historical average right now, the long-term inventory problem isn’t going to be solved overnight.

Today’s Mortgage Rates Create a Lock-In Effect
There are also a few factors at play in today’s market adding to the inventory challenge. The first is the mortgage rate lock-in effect. Basically, some homeowners are reluctant to sell because of where mortgage rates are right now. They don’t want to move and take on a rate that’s higher than the one they have on their current home. The chart below helps illustrate

just how many homeowners may find themselves in this situation:

Those homeowners need to remember their needs may matter just as much as the financial aspects of their move.

“In the absence of trustworthy, up-to-date information, real estate decisions are increasingly being driven by fear, uncertainty, and doubt.”

That’s further limiting inventory because people who would make a move otherwise now feel hesitant to do so. But the market isn’t doom and gloom, even if the headlines are. An agent can help you separate fact from fiction.

How This Impacts You
If you’re wondering how today’s low inventory affects you, it depends on if you’re selling or buying a home, or both.

For buyers: A limited number of homes for sale means you’ll want to seriously consider all of your options, including various areas and housing types. A skilled professional will help you explore all of what’s available and find the home that best fits your needs. They can even coach you through casting a broader net if you need to expand your search.
For sellers: Today’s low inventory actually offers incredible benefits because your house will stand out. A real estate agent can walk you through why it’s especially worthwhile to sell with these conditions. And since many sellers are also buyers, that agent is also an essential resource to help you stay up to date on the latest homes available for sale in your area so you can find your next dream home.
Bottom Line
The low supply of homes for sale isn’t a new challenge. There are a number of long-term and short-term factors leading to the current inventory deficit. If you’re looking to make a move, let’s connect. That way you’ll have an expert on your side to explain how this impacts you and what’s happening with housing inventory in our area.

04/01/2024

Thinking About Using Your 401(k) To Buy a Home?
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Are you dreaming of buying your own home and wondering about how you’ll save for a down payment? You’re not alone. Some people think about tapping into their 401(k) savings to make it happen. But before you decide to dip into your retirement to buy a home, be sure to consider all possible alternatives and talk with a financial expert. Here’s why.

The Numbers May Make It Tempting
The data shows many Americans have saved a considerable amount for retirement (see chart below):

It can be really tempting when you have a lot of money saved up in your 401(k) and you see your dream home on the horizon. But remember, dipping into your retirement savings for a home could cost you a penalty and affect your finances later on. That’s why it’s important to explore all your options when it comes to saving for a down payment and buying a home. As Experian says:

“It’s possible to use funds from your 401(k) to buy a house, but whether you should depends on several factors, including taxes and penalties, how much you’ve already saved and your unique financial circumstances.”

Alternative Ways To Buy a Home
Using your 401(k) is one way to finance a home, but it’s not the only option. Before you decide, consider a couple of other methods, courtesy of Experian:

FHA Loan: FHA loans allow qualified buyers to put down as little as 3.5% of the home’s price, depending on their credit scores.
Down Payment Assistance Programs: There are many national and local programs that can help first-time and repeat homebuyers come up with the necessary down payment.
Above All Else, Have a Plan
No matter what route you take to purchase a home, be sure to talk with a financial expert before you do anything. Working with a team of experts to develop a concrete plan prior to starting your journey to homeownership is the key to success. Kelly Palmer, Founder of The Wealthy Parent, says:

“I have seen parents pausing contributions to their retirement plans in favor of affording a larger home often with the hope they can refinance in the future… As long as there is a tangible plan in place to get back to saving for their retirement goals, I encourage families to consider all their options.”

Bottom Line
If you’re still thinking about using your 401(k)-retirement savings for a home down payment, consider all your options and work with a financial professional before you make any decisions.

02/16/2024

02/04/2024

01/23/2024

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01/04/2024

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Eddie Lopez welcomes you to our comprehensive Eastlake, Chula Vista, Bonita, and San Diego real estate. I Focus On Client Satisfaction. My Business Is About Service And I'm Not Happy Until You're Happy. 

12/04/2023

Light and bright lower unit in Heritage Park West community conveniently located in Clairemont neighborhood near shopping and other amenities. Easy access to the 805 freeway. Well-maintained unit with vinyl plank and tile flooring throughout. Spacious patio, updated kitchen, laundry in unit. Reasonable HOA fees. Gated community with community pool.
For showing dm or call @ 619.371.0641 Eddie Lopez.
Helping One Client At The Time.

MLS #: NDP2309233. Light and bright lower unit in Heritage Park West community conveniently located in Clairemont neighborhood near shopping and other amenities. Easy access to the 805 freeway. Well-maintained unit with vinyl plank and tile flooring throughout. Spacious patio, updated kitchen, laund...

10/03/2023

Convenient location to everything San Diego! Nice and cozy one bedroom, one bathroom condo. This condo is close to 805, 15, 54 and 5 freeways. Nice clean, quiet, gated complex with low HOA dues. The complex offers a pool and clubhouse with gym inside. Other features include: gated assigned parking and gated entry into complex. Great for first time home buyers!
FOR ALL YOUR REAL ESTATE NEEDS.
DM or CALL Me. @619-371-0641 For Showing.

MLS #: PTP2201007. Convenient location to everything San Diego! Nice and cozy one bedroom, one bathroom condo. This condo is close to 805, 15, 54 and 5 freeways. Nice clean, quiet, gated complex with low HOA dues. The complex offers a pool and clubhouse with gym inside. Other features include: gated...

09/18/2023

Beautiful 3 bedroom 2.5 Bath with Vaulted ceilings and a fireplace. Located in the highly sought after Otay Ranch 5 community, harboring a high rated school district. No Neighbors in the back and located on a cul-de-sac. Layout has a great flow with tons of Natural lighting. All windows are new and recently replaced and newly added Central AC. Master bedroom has huge walk -in closet. The private tranquil backyard is perfect for entertaining. Community amenities include a swimming pool, clubhouse, and walking paths. Convenient to nearby parks, shopping plazas, dining, and major freeways!
For All Questions In Real Estate, Call @ 619-371-0641 for Showing
www.onereal.com/eduardo-lopez

MLS #: NDP2307021. Beautiful 3 bedroom 2.5 Bath with Vaulted ceilings and a fireplace. Located in the highly sought after Otay Ranch 5 community, harboring a high rated school district. No Neighbors in the back and located on a cul-de-sac. Layout has a great flow with tons of Natural lighting. All w...

02/22/2023

Helping One Client At he Time.

www.onereal.com/eduardo-lopez