If you’re a bargain hunter, you naturally want North County housing prices to go lower. So it may seem like a good strategy to ride the San Diego housing recession all the way to the bottom before you jump in and buy. The problem is … no one knows where the bottom is in the market for San Diego North County homes. Just when it seems Oceanside homes, Carlsbad homes for sale, Encinitas homes, and Escondido real estate prices won’t go any lower, buyers jump in, and interest rates rise. You may get the San Diego North County home for less, but you pay a little more in interest. Or sale volume improves and you end up competing with other San Diego North County buyers and paying a little more to get the house. It’s much smarter to weigh the advantages of a current market with generous inventory, low interest rates, and low prices. If you plan to stay in your North County home a long time, buy within your means, and buy the best house you can afford, you should make out very well. Advice for North County Buyers: Don’t try to time the market. It’s rare that high inventories, low interest rates and low prices align any better than they do right now. In August, 2010, mortgage interest rates reached the lowest levels since the housing recession of the 1990s, hitting 4.43%. The previous year, interest rates averaged 5.19%, according to FreddieMac.com, so you’re still way ahead of the game.
Let me introduce you to one of the members of my winning team, HomeServices Lending. They can help you get todays best rate. To get more information about buying a San Diego North County home, including San Diego Ocean View Homes, contact Gary Harmon, your top North County Realtor.
