Two important home buyer questions and answers.
George Lorimer
Friday, September 21, 2018
The San Diego real estate market. Call George Lorimer to see how this will affect your buy, sell or investment. 619-846-1244.
This video addresses the following 2 questions I get all the time.
1. How to get priority access to hot new listings and off-market deals.
2. Should you wait to buy? If prices drop but interest rates go up how will it affect the payment?
Ex-
Loan of $500,000 at 4.5% is $2533/mo.
If prices go down 10%, loan of $450,000 and interest rates go up 1% to 5.5%, payment is $2555.
You actually pay less for it now and get more choice on the home you want.
The real estate prices are likely to stay flat, versus going up another 6-8%, like they did last year. But interest rates are expected to rise to above 5% and likely at 5.5%. Any anticipated savings on price is offset by a higher payment and tougher loan qualifications,
Also, this is also a good reason to consider selling because a flattening of prices and less affordability for home buyers because of interest rates lessens buyer demand. http://www.20th.georgelorimer.com/home-evaluation
Call/text George Lorimer and start packing 619-846-1244.
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