ENCINITAS- The good news for our local real estate market is that it is continuing to trend in a positive direction and past naysayers are starting to see and? the positive opportunities. I have been reporting on strong buyer competition for the last several months and for the last few years 
In this Sunday?s Union Tribune Business section, the Economist panel was asked if there was ? a safe and lucrative place to put your savings and investment dollars?? As is the norm, they had? representation on the pro and con sides, but even two of economists who felt there really wasn?t a true safe place, stated:
?Real estate is a possibility for those who can afford to invest in that area as prices are still off their highs and interest rates are at record lows.? Alan Gin, USD
?? if you need a place to live, buying a home now can be a good investment.?- Lynn Reaser- Point Loma Nazarene Univ.
What did the Pro?s? have to say?
?? activity levels are mounting and Realtors are reporting multiple bids offers amid declining inventory?- Gary London, The London Group
??.modestly priced housing or multifamily property is looking pretty attractive?? Norm Miller, USD
?San Diego real estate is also relatively cheap now, so owning your home is also likely to be a good investment.?- Dan Seiver,? SDSU
Reviewing the monthly listings for the last quarter we see that they are tapering off slightly while at the same time the percentage of homes going off the market in the first 30 days is increasing. This is causing considerable buyer frustration and this is another reason why it is important to work with an agent that understands the current market and can provide solid knowledgeable counsel.
Additionally, looking at the recent past, the supply and demand equation has been shifting and the? market really is strengthening for those equity sellers who have been considering selling. There are equity sellers who do not have enough equity to qualify for a refi at the historically low interest rates but they do have enough equity to sale their current home and have money left over to? put down at the very least the minimum required by FHA and are saving hundreds each month on their new home purchase.
For most of these seller, they bought at a higher purchase price and have rates around the 5.25-5.5%. On a $400,000 loan this would be a payment of approximately $2200.00 a month.
Purchasing now, the $400,000 could buy more home or a better location and at today?s rates, the payment on the same loan amount would be approximately $1900.00 a month.
If you are interested in more information regarding our local real estate, whether buying or selling, contact me, Brian Long, at 760.415.3329.
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