Real Estate Market
After a crazy real estate market in 2013, the market has finally slowed down a bit this summer. Inventory is up, homes are staying on the market a bit longer and less investors buying. Does this mean another real estate crash?!? No, the market is just adjusting itself to a more traditional market which is a good thing.
Last year, inventory was insanely low which homes were getting 10 offers within 5 days. Now homes are selling on average 45 days on the market. But of course there are some homes that still sell in a week because of the location or condition of the home.
Overall, no real estate boom or crash anytime soon.
Last year, inventory was insanely low which homes were getting 10 offers within 5 days. Now homes are selling on average 45 days on the market. But of course there are some homes that still sell in a week because of the location or condition of the home.
Overall, no real estate boom or crash anytime soon.
Interest Rates
For a 30 year fixed mortgage, rates are great. You may even get an amazing rate in the mid to the high 3% range. Many believed the interest rates would be in the 5% range by now but now mortgage experts are expecting rates to go up in March of 2015. So this fall and winter, buyers should be able to lock in a good rate. But one thing I know is nothing is guaranteed, so if you are thinking about buying or refinancing, why not now?
Adjustable Rate Mortgages (ARM) are sticking around and have a very attractive interest rates. These loans are unique and are only for the right borrower. If you have any questions about them, feel free to give me a call and I'll give you my opinion on them.
Adjustable Rate Mortgages (ARM) are sticking around and have a very attractive interest rates. These loans are unique and are only for the right borrower. If you have any questions about them, feel free to give me a call and I'll give you my opinion on them.
Well that's all I got. Thank you for reading and the referrals!
Paul Caparas
Broker Associate
Cell: 858-349-2390 | E-Fax: 619-209-7597
paul@paulcaparas.com | www.PaulCaparas.com
CA DRE # 01397640
Selling San Diego Real Estate since 2003
Paul Caparas
DRE # 01397640Call or Text:
858-349-2390
