Rock bottom mortgage interest rates won't
last forever! -At no time in our history has the interest rate been this low. For San Diego home buyers that have been waiting for the market to
improve this is a big reason to jump in.
Favorable Interest rates and a
good selection of homes provide a great opportunity for San Diego buyers to
take advantage of the market. Here are a few things to for buyers to keep in
mind:
1. Know what you can afford before
you fall in love with your dream home.Get pre approved with for a mortgage
loan. Veterans are eligible for zero down financing by using their VA loan benefit.
2. Consider additional expenses
that come with owning a home like property tax, insurance, HOA, Mello Roos and repairs.
3. Be flexible on the little
things. It would be wonderful to find a home with everything you want, but
those are hard to come by – distinguish nice-to-haves and must-haves early.
4. Have imagination and look
beyond paint colors, wallpaper, or other easy and affordable things you can
change.
5. Don't compromise on the big
things, such as enough bedrooms to accommodate additions to the family or space
for an office if you work from home.
6. Always inspect even if the
surface looks great; it's important to know if anything major is wrong and what
it will cost to fix.
7. Think about the future in
regard to the neighborhoods, surroundings, schools, and developments.
8. Factor in future job relocation
especially if you're in the military and will likely be transferred on orders
every few years
2012 is off to a promising start.
Mortgage rates continue to drop and have remained under 4% for nearly two
months. Home sales are strengthening and pending home sales, a measure to gauge
future sales, are at their highest levels since March 2010.
Lorraine
Santirosa is a San Diego realtor that specializes in helping first time home buyers and military families purchase their homes.
619-248-5484
DRE#04127412
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