December 2019 Market Update

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Hey San Diego, are you ready for our National Market Update?

We are seeing lower interest rates right now than we’ve seen since the beginning of 2018. Interest rates are also expected to remain low through 2021 according to the big dogs like Fannie Mae and Freddie Mac. This means it’s an excellent time to purchase a home.

Lower interest rates means that more buyers are also able to qualify for a home and also more buyers can qualify for higher loan amounts,  if you’re selling an upper-end home, now may be a good time to think about selling, because this means that there are more buyers who can actually qualify for a higher priced home.

Now, let’s look at rents. If you track rents from 1988, rents continue to increase significantly. Rents are not going down, but they’re actually going up in small increments up to 3% due to Rent Control Regulations.

I just recently heard the story of a young woman who had been renting in Concord for 20 years, and she had paid $1,800 a month in rents, which is $432,000 in rent. Imagine, that’s the cost of a home. She could have owned that home outright as well as gotten the mortgage write-off, which equates to thousands and thousands of dollars every single year.

Lastly, let’s end with this, all the talk about the recession. Some people are on the fence as whether they should buy now or they should wait to sell. I’ve said this before, and I’m going to say it again until it sinks in. Recession does not mean housing crisis.

Housing prices actually went up in three out of the last five recessions, so don’t let all that worry you. With interest rates expected to stay low and rents going up, now is a great time to buy and sell or buy an investment property, and remember, please reach out to me anytime.

I am always here to help, Let’s Buy and Sell Strategically. My name is Cristobal Jimenez with Coldwell Banker.

#CallCristobal at 619-500-2899 or email me anytime at cristobal@integrity.realestate

Author: IntegrityRealEstateGroup

Multicultural and bilingual, Cristobal brings a unique outlook as a resource to the San Diego County Real Estate Market. Cristobal is passionate about educating & providing options people don’t know they have. Cristobal is dedicated to integrity and professionalism from beginning to end with the primary goal to assist, educate and add value in any way that he can. Cristobal embodies perseverance, tenacity, discipline, systems and negotiation skills. He enjoys helping individuals and families needing to buy a home or sell a property. Cristobal’s upbringing and training are responsible for the discipline, attention to detail and follow-through he brings to his work. He has earned a Bachelor’s degree in Electronics Systems Engineering. His professional experience includes problem-solving as a senior consultant for translational enterprises. Moving to San Diego county area, Cristobal knew that it was time for him to pursue his lifelong dream and join the real estate industry. Cristobal is able to exercise his superior observational and organizational skills while completing every transaction with sensitivity to his clients’ needs and goals. Cristobal’s mantra, how you do anything is how you do everything, he strongly believes is the key to long-term relationships

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