Sure you can lose weight, get in shape, launch a business or find a new job. But haven’t you also procrastinated long enough about buying a home? Real Estate Resolutions for 2010, San Diego we have seen buyers pouring into the market, taking advantage of the amazing buying opportunities that seem to be never ending. Cities like Escondido, San Marcos, Oceanside and Carlsbad are teaming with investors and first-time-homebuyers looking to find an amazing buying opportunity.
- Join the roughly 18% of Americans who say they’ve resolved to become a first-time homebuyerin 2010, according to a new survey posted by a leading market research firm. That’s both a smart move and a timely one. Mortgage rates are at record lows, I mean REALLY LOW!! The $8000.00 (First Time Home Buyer Tax Credit) has been extended until April 30, 2010. It’s also been expanded to include a $6,500 tax credit to move-up buyers.
- More than 15% of those who responded to the survey said saving money to purchase a new home is their top real estate resolutionfor the New Year.
- Nearly 40% say No. 1 on their list of resolutions is starting a home improvement. Cheap homeequity money should help them not only start, but also complete the job. Calabasas, CA-based Informa Research found home equity lines of credit (HELOCs) for $50,000, with an 80 percent loan-to-value (LTV) note, were available in early December at an average variable rate of 98 percent. Some rates were as low as 2.74 percent. If you factor in what the 10 Year Treasuries are selling at, that means mortgage rates are only seeing a spread of 120 bps – that is the least it has been in 4 years. I can tell you having been in the lending industry for 8 years, I can honestly say that money has never been cheaper. I was writing (HELOCS) in 2005, the last big dip in equity rates at prime minus 1.0 – 1.5% – we thought that was great then, now look what you can get “if you can qualify”.
- 16% of homeowners with greater than 30% equity in their homes are considering buying an investment propertyas their top resolution. They couldn’t have picked a better time in the last half decade. Another survey recently found more than 12% of homebuyer’s today plan to purchase a home as an investment, compared to less than half, only 5.6 percent, just seven months ago, thanks to more attractive investment
If you anticipate inflationary conditions in the future, investment property could be a good bet to hedge against it. Many of my clients these days looking to secure a seat in what will surely be the next real estate boom are looking for investment property. Considering what rates look like these days and with the ever growing concern that the (Federal Reserve will start raising rates by the end of the year), now is the time to act. Several of the communities here in North San Diego County have had month-over-month gains in resale value showing solid signs that we have clearly made a turn for the better.
Call me today so that we can discuss what the booming real estate market can do for you. Opportunities like this happen once in a lifetime. Please visit my website www.moserrealtygroup.com to fill out a free no obligation client inquiry form.