Local Real Estate Market Update

Written by Posted On Sunday, 12 January 2020 02:41

As we proceed into the new year our local market sales activity has remained fairly strong, especially in the low to mid-range home prices! Demand is high, spurred on by the continued low interest rates on home loans (still under 4% on a 30 year fixed rate mortgage). 

Inventory of homes for sale is still low, however, making it difficult for many to find a home in their price range.  This is especially true in the entry level housing up to around $600,000.  With the low inventory, we continue in a "seller's market" although not as strong as in the past couple of years, due to continued increase in prices and wages not following suit.  Appreciation in home prices has cooled in 2019 with less than 5% increase year over year and predictions for 2020 are less than 3% for most areas of the County.

With interest rates so low and prices stablizing it is a very good time to buy or sell a home!  Predictions of higher interest rates earlier in the year have not materialized and predictions for 2020 are that they will stay relatively stable, unless there are unforseeable economic changes.  With the current political atmosphere, it is hard to make any guarantees, as thngs can change quickly!  If you are thinking of making a move, sooner is probably better than later, just in case. This spring promises to be a very good time!

For an analysis of your particular situation in regard to the sale and/or purchase of a home in this area or any other (we have info on home values in all areas), give us a call for a free, no obligation consultation.  We are glad to help you decide if it is the right time for you to act!

We also do property management should you want to consider renting out your current home or another investment property.  We have very reasonable rates and excellent references and our management is "hands on"!  Give us a call for more information!



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Joe Boozer

With over 40 years as a Broker in North San Diego County and surrounding areas I have seen two major real estate market cycles--giving me invaluable experience in how to maket homes in any market environment and a through knowledge of properties in the area, negotiation techniques and how to forsee and help my clients avoid or take advantage of siturations that can arise in any real estate transaction.  

Buying or selling real estate is one of the biggest investment decisions most of us every make!  I am surprised how so many buyers and sellers choose their agents with little concern for the education and experience they have to represent them in their purchase or sale!  This can be a costly mistake!  Why not enlist the representation of a true professional--give me a call for more information on how I work or go to my website at JBProperties.org . You can reach be anytime at 619-988-7222 (call or text) or email me at joe@JBProperties.org.



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