What if I told you that instead of needing to make $131,640 to buy the Median Priced Home in San Diego, you only needed to make $83,976? (read: KUSI if off by $47,644)
What if I told you that the $131,640 "required income" in this bogus article would actually buy you a house for $300,000 HIGHER than the Median Priced Home in San Diego?
While none of us have a crystal ball that assures us of future numbers, we often rely on consensus projections compiled by Market Analysts to determine when to take action. When it comes to buying a home, there are two major numbers to consider: The Purchase Price of the home The Interest Rate on the mortgage you acquire (assuming you are not paying cash for your home) With these two numbers in mind, consider the following nationwide projections (as provided by www.MortgageCoach.com)
If indeed we are to experience a 4.3% appreciation rate in property values, consider the following numbers: (3 comments)
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Jason E. Gordon
Sr Loan Officer, CMA, CMPS, CDLP, CDRE, RCSD, CDPE
Author Bio: Jason Gordon is a Residential Mortgage Specialist in San Diego, CA. He combines ethics, education, and experience while helping Homebuyers and Homeowners to achieve their financial goals.View all AR Posts By Jason Gordon