San Diego Real Estate News & Blog (Page 35)

Homeownership is a major part of the American Dream. But, the path to achieving this dream can be quite difficult. While progress has been made to improve fair housing access, households of color still face unique challenges on the road to owning a home. Working with the right real estate experts can make all the difference for diverse buyers. It’s clear that achieving homeownership is more challenging for certain groups because there’s still a measurable gap between the overall average U.S. homeownership rate and that of non-white groups. Today, Black households continue to have the lowest homeownership rate nationally (see graph below): Homeownership is anRead More →

Are you feeling a bit unsure about what’s really happening with mortgage rates? That might be because you’ve heard someone say they’re coming down. But then you read somewhere else that they’re up again. And that may leave you scratching your head and wondering what’s true. The simplest answer is: that what you read or hear will vary based on the time frame they’re looking at. Here’s some information that can help clear up the confusion. Mortgage Rates Are Volatile by Nature Mortgage rates don’t move in a straight line. There are too many factors at play for that to happen. Instead, rates bounce aroundRead More →

Some Highlights In today’s housing market, you can still come out on top if you have the right team and plan. To win when buying a home, you need to build your team, make strategic plays, consider what’s in and out of bounds, and stand out from the crowd. Connect with a local real estate agent today to make your winning move. Source: Housing Market & Real Estate NewsRead More →

Are you on the fence about selling your house? While affordability is improving this year, it’s still tight. And that may be on your mind. But understanding your home equity could be the key to making your decision easier. An article from Bankrate explains: “Home equity is the difference between your home’s value and the amount you still owe on your mortgage. It represents the paid-off portion of your home. You’ll start off with a certain level of equity when you make your down payment to buy the home, then continue to build equity as you pay down your mortgage. You’ll also build equity overRead More →

On the road to becoming a homeowner? If so, you may have heard the term pre-approval get tossed around. Let’s break down what it is and why it’s important if you’re looking to buy a home in 2024. What Pre-Approval Is As part of the homebuying process, your lender will look at your finances to figure out what they’re willing to loan you. According to Investopedia, this includes things like your W-2, tax returns, credit score, bank statements, and more. From there, they’ll give you a pre-approval letter to help you understand how much money you can borrow. Freddie Mac explains it like this: “A pre-approval is anRead More →

Have you been thinking about selling your house? If so, here’s some good news. While the housing market isn’t as frenzied as it was during the ‘unicorn’ years when houses were selling quicker than ever, they’re still selling faster than normal. The graph below uses data from Realtor.com to tell the story of median days on the market for every January from 2017 all the way through the latest numbers available. For Realtor.com, days on the market means from the time a house is listed for sale until its closing date or the date it’s taken off the market. This metric can help give youRead More →