Reasons to Buy a San Diego North County Home NOW

If you have been on the fence waiting for the best time to buy a San Diego North County home, NOW is the time.  See 5 reason below photo.

Housing Affordability Still at Record High Levels

Each month the National Association of Realtors issues its “Housing Affordability Index,” which measures the ability of the average family, in a particular geographical area, to afford the average priced home for that area.
In September 2010 the national affordability index was 179.1. This means that if a family with the median income of $61,395 wanted to purchase a median-priced existing single-family home at $172,600 (with a 20% down payment of $34,520), they would have 179.1% of the qualifying income needed to purchase that home.  Of course in California, the index was lower.  For San Diego North County homes ist was about 140.  This is still great and considerably above the 2009 level.

Interest Rates Are at Historic Lows

In the 1990s rates were higher than 8 percent. This look back through time makes it easy to see that today’s mortgage rates are relatively low.  Take the first step toward a San Diego North County home purchase and
contact me.  I will put you in touch with a great HomeServices Lender.   They will do a PriorityBuyer® preapproval to see how much you qualify for at today’s interest rates.

Tax Advantages of Homeownership

Whether you’re a first-time buyer, up-sizing, or down-sizing, most North County homeowners qualify for tax breaks annually.

  • Interest paid on a home mortgage is almost always tax
    deductible (up to the value of the primary residence)
  • Property taxes are typically deductible for most San Diego North County homeowners

Plus, for most San Diego homeowners, there are no capital gains taxes when a primary residence is sold.

Inventory of foreclosure and short sale properties

Also called real-estate owned or REO, lender-mediated, lenderowned, or non-traditional, these properties may appeal to bargain hunters looking for that hidden gem.

Inventory of homes overall is at an 10.5-month supply nationally. 

It is a buyer’s market!  More sellers than buyers in the marketplace can mean more choices and more bargaining power for buyers.  (Information above courtesy of HomeServices Lending, a Wells Fargo Affiliated Lender.)

To get a personal tour of San Diego North County homes, contact Gary Harmon, your top North County Realtor.


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