San Diego Market Trends

San Diego Market Trends RENTS RISING. Rents in San Diego county in general are rising, according to Zillow in their February report, released last week. San Diego Metro rents in February increased 0.4% from January and 4.3% from last February. Chula Vista, Oceanside, Escondido, and El Cajon rose similarly. Highest annual increases were Encinitas (5.3%,…

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San Diego sales much lower in January, while prices barely rise

Even though the U.S. economy was robust, unemployment was low, and wages grew, home sales across the nation began to drop late last year. Reasons given were high prices and a number of interest rate hikes by the Federal Reserve. Higher rates made houses less affordable, so the Fed took a “patient approach” to further…

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Did Trump’s New Tax Plan Make Buying a Home Unattractive?

Trump Tax Plan

The Tax Cuts and Jobs Act will have its first effect on tax returns this tax season with the 2018 returns. Of large concern to many is whether homeowners can write off their mortgage interest under the new tax law.  For people considering buying a home, there have been numerous articles saying that the mortgage…

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Frequently Asked Mortgage Questions

Does the term “amortization” leave you perplexed? Are you unsure how preapproval differs from prequalification? If so, you’re not alone. Here are some mortgage basics to help you become more familiar with the process. What’s the difference between prequalification and preapproval? Getting prequalified is often the first step when searching for a home. You supply…

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5 Mistakes New Homebuilders Often Make

Designing your own home can be exciting, but it’s a lot more work than buying an existing house. With so many moving pieces involved, knowing what works and what doesn’t is key. Protect your home’s long-term value by sidestepping these five avoidable pitfalls of building a new home. 1. Forgetting About Storage Space From seasonal items…

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Essential Checklists for Homebuying and Selling

Spring has sprung, which means the housing market is in full bloom. Each year, roughly 40 percent of real estate transactions occur between the months of May and August. If you’re feeling inspired to buy or sell a home soon, make sure you’re prepared. Use these checklists to catch anything you may have missed. When You’re Ready…

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Credit Score – What It Means and How to Improve It

Are you considering making a major purchase, like buying a home, this year? If so, your credit score will likely come into play. An understanding of the basics can help you effectively monitor and manage it. Credit Score 101 Your credit score will usually range from 300 to 850. It’s derived from an algorithm that takes…

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Good news for FHA borrowers!

FHA is reducing their MIP payment 50 basis payments from 1.35% to 0.85%. What that means is, for every $100,000.00 owed, the MIP payment would drop $41.67/mo. That, along with the fact that interest rates are lower than they’ve been for quite some time, you may have the ability to lower your rate as well,…

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