In July, the average 30-year fixed-rate mortgage rates fell below 3% for the first time in history. 1 And while many Americans have rushed to take advantage of this unprecedented opportunity, others question the hype. Are today’s rates truly a bargain? While average mortgage rates have drifted between 4% and 5% in recent years, they … Continued
Why Homeowners in La Mesa CA Have Great Selling Power Today We’re sitting in an optimal moment in time for homeowners who are ready to sell their houses and make a move this year. Today’s homeowners are, on average, staying in their homes longer than they used to, and this is one factor driving increased homeowner equity. When … Continued
Guidance and Support Are Key When Buying Your First Home in La Mesa San Diego. . In June, the number of first-time homebuyers accounted for 35% of the existing homes sold, a trend that’s been building steadily throughout the year. According to the National Association of Realtors (NAR): “The share of first-time buyers increased in March through … Continued
What’s happening to the housing market in La Mesa? The residential real estate market is remaining resilient as the country still struggles to beat the COVID-19 pandemic. Three separate reports recently revealed how the housing market is still showing growth. Here’s a look at each one. 1. Ivy Zelman’s Real Estate Broker Survey The survey explains … Continued
Thinking of Selling Your House in La Mesa San Diego CA? Now May be the Right Time. Inventory is arguably the biggest challenge for buyers in today’s housing market. There are simply more buyers actively looking for homes to purchase than there are sellers selling them, so the scale is tipped in favor of the … Continued
Does Your Home Have What La Mesa Home Buyers Are Looking For? There’s great opportunity for today’s homeowners to sell their houses and make a move, yet due to the impact of the ongoing health crisis, some sellers are taking their time coming back to the market. According to Javier Vivas, Director of Economic Research at realtor.com: “Sellers continue … Continued
Mortgage Rates Hit Record Lows for Three Consecutive Weeks. . Over the past several weeks, Freddie Mac has reported the average 30-year fixed mortgage rate dropping to record lows, all the way down to 3.03%. Last week’s reported rate reached the lowest point in the history of the survey, which dates back to 1971 (See graph below): What does … Continued
What Are Experts Saying about Home Prices? Last week, a very well-respected real estate analytics firm surprised many with their home price projection for the next twelve months. CoreLogic, in their latest Home Price Index said: “The economic downturn that started in March 2020 is predicted to cause a 6.6% drop in the HPI by May 2021, … Continued
Taking Advantage of Homebuying Affordability in Today’s Market. . . Everyone is ready to buy a home at different times in their lives, and despite the health crisis, today is no exception. Understanding how affordability works and the main market factors that impact it may help those who are ready to buy a home narrow … Continued
New Index Reveals Impact of COVID-19 on Real Estate! Earlier this month, realtor.com announced the release of their initial Housing Recovery Index, a weekly guide showing how the pandemic has impacted the residential real estate market. The index leverages a weighted average of four key components of the housing industry, tracking each of the following: Housing Demand – … Continued
