Many buyers are waiting for mortgage rates to drop before purchasing a home. That sounds reasonable—but what happens if rates do not fall much, or prices rise before they do?

Rather than trying to predict the market, ask a more useful question:

Buyers Have More Leverage Today

Today’s San Diego market gives qualified buyers opportunities that were harder to find during the buying frenzy:

A Seller Credit May Do More Than a Price Reduction

On an example $800,000 purchase, a negotiated seller credit could be used toward a temporary 2-1 loan buydown. Based on the example provided, the first-year rate could be reduced from 6.75% to 4.75%, lowering the principal-and-interest payment by approximately $914 per month during the first year.

The same seller credit could also be applied toward closing costs, helping a buyer keep more money in reserve after purchasing.

You do not necessarily need a lower market rate. You may need a better strategy for negotiation and financing.

What Waiting Could Cost

No one can guarantee what mortgage rates or home prices will do next. But waiting has a cost too.

San Diego County home values increased approximately 99.1% during the 10-year period shown in the market data—from about $472,500 to $940,986.

That does not guarantee future appreciation. It does show why long-term ownership has created substantial equity for many San Diego homeowners.

Sellers: Put Your Equity to Work

Most homeowners do not sell because they perfectly timed the market. They sell because their life, family, work, finances or housing needs changed.

With San Diego values still near historically high levels, your equity may help you:

I can help you compare a traditional sale, cash offer, Buy Before You Sell option, Fix Before You Sell strategy, and rent-back plan before you make a decision.

Are You Paying Too Much in Rent?

Compare your current rent with similar nearby properties. Then let’s look at what owning may cost and what financing programs may be available.

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