Real Estate Market Update - April 2016

A Recent Success

Finest City Realty Team recently sold a home in less than one week, and for more than the asking price!

Finest City Realty Team’s effective marketing strategies will ensure you receive the highest dollar amount available to you though the sale of your investment.

Contact the FINEST CITY REALTY TEAM today to find out how Katie and Sally sell homes quickly and for TOP DOLLAR!

No Time Like The Present

Thinking about buying your first home, or perhaps upgrading from your current place? Thanks to the current economic climate and game-changing technology in the housing market, now is the perfect time to take the plunge.

Low interest rates
Lenders are giving buyers mortgage rates that are extremely enticing—you can get a mortgage below 4.0%. There’s a good chance these are the lowest mortgage rates we’ll see in a long time, which means affordability is at a high.

Prices are on their way up
Mortgage rates may be low, but housing prices are getting higher and higher because of demand—prices increased 5.1% year-over-year in November 2015. If you’re thinking about buying, delaying a few years could lead to a higher purchase price, or getting less home for your money.

A great job market
The United States added 2.65 million jobs in the last year. There’s increasing job security and available work, leading to high consumer confidence.

Technology makes buying simpler and less expensive
Along with listing websites like Zillow and Trulia, there are an increasing number of websites and apps that simplify the process, make it easier to shop around for homes and mortgages, and save you money.

Cheap fuel
Lower gas and energy prices mean more money in your pocket and more purchasing power. The money you’re not putting into your gas tank or toward your utilities can instead go toward saving for a down payment or affording a bigger monthly mortgage payment.

Five Tips for First Time Buyers

No matter how much time you spend on researching and educating yourself about your home purchase, it’s hard to cover every detail. Here are a few tips for avoiding rookie mistakes with your first home purchase.

  1. Save as early as you can: Even if you think you’re years away from buying your first home, try to start saving for your down payment. It makes a huge difference in your monthly payments, and helps avoid paying Private Mortgage Insurance.
  2. Be thorough with mortgage shopping: There are countless resources out there that can help you get the best terms for your mortgage. It may seem like a lot of work to shave less than a point off your mortgage rate, but it’ll save you thousands in the long run.
  3. Consult a skeptic: You’re likely to fall in love with a home, and that can make it difficult to take problems seriously. Bring along a skeptical friend or family member who can give you an honest opinion.
  4. Be patient with getting settled: You’ll be anxious to make your new home your own, but take some time to see how your budget truly shakes out. In other words, hold off on big furniture purchases and remodeling projects.
  5. Make sure you’re happy with the neighborhood: The house may be perfect, but don’t discount the surroundings. You don’t want to end up in the suburbs if you’re going to miss walking to your favorite coffee shop, and you don’t want to settle for the city if you’re looking forward to some peace and quiet.

About Finest City Realty Team

We are the Finest City Realty Team! We are dedicated to exceed your Real Estate expectations by representing your best interests, either in the SALE or PURCHASE of your home or investment property. As the Finest City Realty Team, we are dynamic and outgoing. We maximize our strengths by combining our prior professional experience and skills, with our current experiences as Realtors in the San Diego area, to bring you the best representation available. Our brokerage, REALTY EXECUTIVES DILLON, has 30 years of experience in San Diego County, with three offices to serve you in Coronado, Chula Vista, and Eastlake. REALTY EXECUTIVES DILLON is the only brokerage in San Diego with in-house Real Estate, Escrow, and Lending services. This allows for precise, smooth, seamless, and cost-effective Real Estate transactions that will SAVE YOU TIME AND MONEY.

Call Katie or Sally (hablo Español) today to find out how the Finest City Realty Team can make all of your Real Estate Dreams a Reality!