What's My Home Worth in Today's Real Estate Market in Carlsbad? Encinitas? San Diego?
June 2013.
The real estate market has been seeing home prices rise faster than most media reports lately! Example, I have seen publications say "Home prices rise by 5.1% in San Diego from 1st quarter....or something along those lines. However, the real story today may favor home sellers much more than a 5.1% increase, for instance, the most affordable home on the market in Encinitas CA yesterday was Priced at $699,000 for a 3/2 SFR.
Last year a similar home sold for $385,000! That is so much more than 5.1%!!!
Think you are still underwater? Short Sale? Well the good news is maybe not! This could be a great time to sell, get out from under the big mortgage payment and keep you credit in good standing. If you have already missed some mortgage payments, the above holds true and you should have your credit in good standing in 2 years.
Some think this price bubble will burst again just as it did back in 2006, without a crystal ball no one really knows but if a few real estate related facts change...interest rates for example or investor money stops pouring into the housing market...then yes it is possible.
I'm here for you, I know the real estate market in's and out's since 1984 full time. Thinking of selling or if you just want to chat and pick my brain or give me your opinion give me a call or email me at AgentBlueMLS@yahoo.com
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