Is it Time to Move Up?

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I was speaking to a long-time family friend yesterday and they said a phrase I have been hearing a lot lately. I’ve heard slightly different iterations but the way she expressed it was, “Oh! I always wanted to live in that neighborhood!”

Maybe you have heard a friend say that. Or maybe your spouse. Or possibly even you have said it yourself!

 

If you step back and look at the current housing market here in San Diego county, there are a number of buyers who could take that wishful thinking and turn it into a reality because many homeowners are living in the “sweet spot”.

When homeowners look at the numbers combined with the low inventory it quickly becomes clear that it is a great time to sell. But what puts homeowners in the sweet spot is a factor that many people don’t consider which is that interest rates are still at historic lows. And that number is critical because when you look at your buying power as a consumer in this market the interest rate almost always has a bigger impact on your buying power than the price of the home.

 

So many homeowners could cash out now while the market is strong, take that money and put it into purchasing their forever home and take advantage of the interest rates before they go up.

 

Here at Team Foote Real Estate we offer a professional, concierge service and are masters at coordinating the complexities of a “move-up” transaction a.k.a. selling your current home, finding your dream home, getting an accepted offer on that, taking both deals through escrow all while never leaving you homeless! Contact us today to find out how you can move up to your next home. We love when our clients go from saying, “I always wanted to live in there” to “Oh! That’s where I live.”