For those of us in the real estate industry, no matter where we go and no matter who we’re with, the number one question is always “How is the Market”? often followed by one of these questions: “Are things picking up?” “Is this a good time to buy my first home?” “Is this a good time to sell my home?”
The answers depend on the individual situation however, the general consensus is that this is a very good time for buying and for selling.
Why? With interest rates historically low, paying rent is like saying you would rather help pay off someone else’s mortgage rather than your own. Investors have wisely purchased during the economic downturn and are able to get a high return on their rental properties.
In our San Diego market, inventory is very low creating a good time for homeowners to consider placing their property for sale at current market value which is improving and the result is quite positive. Activity is big due to high demand, meaning a faster sale is likely. It’s challenging for buyers to find available homes so a good realtor is key.
As rental rates climb and interest rates remain at an all time low, this could be enough to push the first time buyer off the fence. Your Real Estate professional is able to help you connect with reliable lenders so you can be pre-approved for a home loan and make a decision that will benefit your family, your lifestyle and your future.
With increased demand for that ‘move-in ready’ dream home, this is indeed a good time to speak with your local Realtor about the prospect of placing your home on the market. They will help you prepare your home and get the best price possible.
For short sales, this is the year if you are in the situation to act. The tax benefit based on deficiency funds written off by the bank in a short sale is due to expire at year’s end. If a seller waits it could mean major future tax consequences. Some banks are doing moving credits for sellers if they qualify to sell under a short sale, benefiting both Buyers and Sellers. All good reasons to act!
This is a very good time to buy and to sell. Don’t sit around thinking about it. Be prepared and you’ll know when the time is the best for you.
Steve Rodgers, President/CEO/Partner Real Living Lifestyles Integrated Real Estate Services
courtesy of: http://www.utsandiego.com/
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