Now is the Time to Buy Ocean Hills Real Estate

Pay $150,000 with No Payments for Life

As the California housing market grows more attractive, San Diego North County homebuyers are more optimistic than they were a year ago, according to the latest survey by the California Association of REALTORS®.

While in 2009, only 8% of California homeowners believed their homes would go up in value over the next year, that number has grown to 23% in 2010.  Let’s take a look at why San Diego homebuyers are more optimistic.

  • San Diego Home buying conditions are ideal.   This is especially true for Ocean Hills real estate where there are over 40 Ocean Hills Country Club homes for sale. 
  • Mortgage interest rates are at all-time lows not seen since 1971. The benchmark 30-year, fixed-rate conventional mortgage was 4.44% by mid-August 2010.   There are also creative ways to buy Ocean Hills real estate such as using a reverse purchase mortgage.    Using this method you purchase a home in Ocean Hills for as little as $150,000 down and make no payments the rest of your life.
  • Sellers are meeting market realities by lowering the prices on nearly one quarter of U.S. homes listed for sale in June 2010, according to Trulia.com. That’s up 9% from May 2010.
  • Lower property values mean that owning a home is now less expensive than renting in almost every San Diego North County community.
  •  Affordability is excellent – nearly half of homebuyers can afford the median-priced home in California and nearly 47% can afford the median-priced home in Southern California.   While Ocean Hills Country Club homes have held there values better than the surrounding Oceanside homes, values have still adjusted to a level allow buyers to save money.
  • Investors are stepping in and paying cash for distressed properties, reducing the number of foreclosures negatively impacting neighborhood home values. Distressed homes sell at as much as 15% less than non-distressed homes.

With all the good things going on in our San Diego North County homes market, now is a great  time for you to contact Gary Harmon, your Ocean Hills Realtor, to find out how to save money on your next Ocean Hills real estate purchase.