East County San Diego Homes for Sale

02/01/2024

Don’t Wait Until Spring To Sell Your House

While spring is usually the peak homebuying season, you don’t actually need to wait until spring to sell. Here's why.

1. Take Advantage of Lower Mortgage Rates

Last October, the 30-year fixed mortgage rates peaked at 7.79%. In January, they hit their lowest level since May. That means you may not feel as locked-in to your current mortgage rate right now. That downward trend in rates has made moving more affordable now than it was just a few months ago.

According to Sam Khater, Chief Economist at Freddie Mac: “Given this stabilization in rates, potential homebuyers with affordability concerns have jumped off the fence back into the market.”

2. Get Ahead of Your Competition

Right now, there are still more people looking to buy a home than there are houses for sale, which puts you in a great position. But keep in mind, with the recent uptick in new...

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As you think about the year ahead, one of your big goals may be moving.

01/31/2024

2 of the Factors That Impact Mortgage Rates

If you’re looking to buy a home, you’ve probably been paying close attention to mortgage rates. Over the last couple of years, they hit record lows, rose dramatically, and are now dropping back down a bit. Ever wonder why?

The answer is complicated because there’s a lot that can influence mortgage rates. Here are just a few of the most impactful factors at play.

Inflation and the Federal Reserve

The Federal Reserve (Fed) doesn’t directly determine mortgage rates. But the Fed does move the Federal Funds Rate up or down in response to what’s happening with inflation, the economy, employment rates, and more. As that happens, mortgage rates tend to respond.

Fortunately, the expert outlook for inflation and mortgage rates is that both should become more favorable over the course of the year. As Danielle Hale, Chief Economist at Realtor.com, says: “[M]ortgage rates will...

If you’re looking to buy a home, you’ve probably been paying close attention to mortgage rates.

01/31/2024

Foreclosure Activity Is Still Lower than the Norm

Have you seen headlines talking about the increase in foreclosures in today’s housing market? If so, they may leave you feeling a bit uneasy about what’s ahead. But remember, these clickbait titles don’t always give you the full story.

The truth is, if you compare the current numbers with what usually happens in the market, you’ll see there’s no need to worry.

Putting the Headlines into Perspective

The increase the media is calling attention to is misleading. That’s because they’re only comparing the most recent numbers to a time where foreclosures were at historic lows. And that’s making it sound like a bigger deal than it is.

In 2020 and 2021, the moratorium and forbearance program helped millions of homeowners stay in their homes, allowing them to get back on their feet during a very challenging period.
When the moratorium came to an...

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Have you seen headlines talking about the increase in foreclosures in today’s housing market?

01/30/2024

2 of the Factors That Impact Mortgage Rates

If you’re looking to buy a home, you’ve probably been paying close attention to mortgage rates. Over the last couple of years, they hit record lows, rose dramatically, and are now dropping back down a bit. Ever wonder why?

The answer is complicated because there’s a lot that can influence mortgage rates. Here are just a few of the most impactful factors at play.

Inflation and the Federal Reserve

The Federal Reserve (Fed) doesn’t directly determine mortgage rates. But the Fed does move the Federal Funds Rate up or down in response to what’s happening with inflation, the economy, employment rates, and more. As that happens, mortgage rates tend to respond.

Fortunately, the expert outlook for inflation and mortgage rates is that both should become more favorable over the course of the year. As Danielle Hale, Chief Economist at Realtor.com, says...

Call or message me if you would like to learn more info.

If you’re looking to buy a home, you’ve probably been paying close attention to mortgage rates.

01/29/2024

Will a Silver Tsunami Change the 2024 Housing Market?

Have you ever heard the term “Silver Tsunami” and wondered what it's all about? If so, that might be because there’s been lot of talk about it online recently. Let's dive into what it is and why it won't drastically impact the housing market.

What Does Silver Tsunami Mean?

A recent article from HousingWire calls it: “. . . a colloquialism referring to aging Americans changing their housing arrangements to accommodate aging . . .”

The thought is that as baby boomers grow older, a significant number will start downsizing their homes. Considering how large that generation is, if these moves happened in a big wave, it would affect the housing market by causing a significant uptick in the number of larger homes for sale. That influx of homes coming onto the market would impact the balance of supply and demand and more.

The concept makes sense in theory, but...

Have you ever heard the term “Silver Tsunami” and wondered what it's all about?

01/29/2024

How Owning a Home Can Really Increase Your Wealth

If you're choosing between renting or buying a home this year, consider that homeownership can be a significant wealth-building tool. Let’s connect so you can learn more about how buying a home can increase your net worth over time.

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01/28/2024

Spring may be around the corner, but there's no need to wait. The supply of homes available for sale is still lower than normal. And with the recent downward trend in mortgage rates, buyer demand is growing. Your house is in demand now. If you’re ready to make a move, DM me today so we can discuss why it’s a great time.

01/28/2024

Great news for those awaiting favorable mortgage rates before making a move. They’ve been trending downward in recent months and projections indicate they’re likely to decline further throughout 2024. That means new opportunities for both buyers and sellers. Want to know how changing mortgage rates might shape your moving plans? DM me today.

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01/27/2024

Are More Homeowners Selling as Mortgage Rates Come Down?

If you’re looking to buy a home, the recent downward trend in mortgage rates is good news because it helps with affordability. But there’s another way this benefits you – it may inspire more homeowners to put their houses up for sale.

The Mortgage Rate Lock-In Effect

Over the past year, one factor that’s really limited the options for your move is how few homes were on the market. That’s because many homeowners chose to delay their plans to sell once mortgage rates went up.

Early Signs Show Those Homeowners Are Ready To Move Again

According to the latest data from Realtor.com, there were more homeowners putting their houses up for sale, known in the industry as new listings, in December 2023 compared to December 2022.

Here's why this is so significant. Typically, activity in the housing market cools down in the later months of the...

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If you’re looking to buy a home, the recent downward trend in mortgage rates is good news because it helps with affordability.

01/26/2024

Why It’s More Affordable To Buy a Home This Year [INFOGRAPHIC]

Home affordability depends on three factors: mortgage rates, home prices, and wages. Mortgage rates are down from their recent peak, home prices are expected to rise at a slower pace, and wages are increasing faster than usual. That’s good news if you want to buy a home because it means affordability is getting better.

Home affordability depends on three factors: mortgage rates, home prices, and wages. 

01/26/2024

Spring may be around the corner, but there's no need to wait. The supply of homes available for sale is still lower than normal. And with the recent downward trend in mortgage rates, buyer demand is growing. Your house is in demand now. If you’re ready to make a move, DM me today so we can discuss why it’s a great time.

Call or message me if you would like to learn more info.

01/25/2024

Experts Project Home Prices Will Increase in 2024

Even though home prices are going up nationally, some people are still worried they might come down. In fact, a recent survey from Fannie Mae found that 24% of people think home prices will actually decline over the next 12 months. That means almost one out of every four people are dealing with that fear, and you might be, too.

To help ease that concern, here's what experts forecast will happen with prices this year.

Experts Project a Modest Increase

Prices aren’t likely to depreciate in 2024 because inventory is still tight and lower mortgage rates are leading to strong buyer demand. Those two factors will keep pushing prices up as the year goes on. As Selma Hepp, Chief Economist at CoreLogic, explains: “With mortgage rates dropping, demand for homes in early 2024 is likely to be strong and will again put pressure on prices, similar to...

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Even though home prices are going up nationally, some people are still worried they might come down.