Yes, It’s Time To Buy A Home In San Diego
Here at Papitto Properties we’ve written often about how now is a great time to buy. A recent Wall Street Journal article reiterates our belief that despite the economy now is a fantastic time to buy a home, especially in San Diego.
WSJ’s Ruth Simon and Jessica Silver-Greenberg write:
Despite all the gloom, however, there are growing indications that it is a good time to buy. Mortgage rates, which fell to 4.55% for the week ending June 2, according to Freddie Mac, are near 50-year lows . . . A historic glut of homes, meanwhile, has created a buyer’s market . . . .
The authors go on to explain that “if you exclude distressed sales, [home] prices were off just 0.5%. So if you are in a market that isn’t battered by foreclosures, you may be close to a bottom already . . . Moody’s Analytics predicts that the number of distressed sales will begin to fall in 2013, and that prices will begin to edge upward then.”
Waiting to buy, then, with the hope that prices will drop even further could cost you more in the long run. Now is a generational opportunity to buy a home: 50-year lows for mortgage rates? Check. Bottom of the market? Check.
Papitto Properties has more than 20 years of experience. We’ve lived through the ups and downs of the market right along with you, and we’ve watched it closely with a professional eye. We know how to guide a Buyer or Seller through the complicated process of buying a home, especially in these economic times. After all, for more than 20 years we’ve been bringing you home.
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[...] San Diego is a perfect example of a city where it’s more cost-effective to buy than rent. [...]