Will Your San Diego Home Value Drop Like a Rock
With Mortgage Rates Doubling?
Has your home equity already started evaporating?What's Your San Diego Home Worth Today - Free and Instant Home Value
Could prices drop by $50K or $100K in America's Finest City as early as January 2024? It’s happened before.
Why can’t home prices go up indefinitely? Affordability.
Have you noticed that everything is way more expensive, yet we aren’t making more money? SDG&E, gas, meat, milk, restaurants, everything!
The same thing is happening with home buyers.
Did you know the median home today costs $7158/mo.** with 20% down?
That means you must make $260,311/yr. Income to afford it. Who makes this much?
The bottom line is that it’s super expensive.
No wonder there are 40% fewer sales this year versus last year.
WHAT CAN YOU DO TO PROTECT YOUR EQUITY?
Sell now, before more homes go on the market and mortgage rates increase again, making it less affordable for homebuyers.
San Diego home prices are teetering on the ALL-TIME high peak of prices. Consider selling before more competing homes hit the market.
Respectfully,
George Lorimer - 619-846-1244
Your Home Sold Guaranteed, or I’ll Buy It*
Find Out What Your Home’s Worth in Today’s Market: www.SDHomePrice.com
P.S. If you Decide Now that you want to explore selling sooner rather than later, please call me today to discuss your home value in this rapidly changing market. George Lorimer - 619-846-1244.
*Conditions apply. DRE# 01146839. **The median San Diego home price is $1,025,000, and with a 20% downpayment, your mortgage, property taxes, and insurance are $7158/mo. Payment @ 7.5% mortgage, $400/mo. Property taxes, 1.2% property tax. They are allowing 33% of income to go towards housing expenses. That means a buyer has to make $260,311 per year to afford this home with a $205,000 downpayment, 20% down, and an 80% loan. Median price means the homes sell above and half below that price.
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