Real Estate: What does the foremost economist have to say?

So last Friday, the San Diego Association of Realtors (SDAR) held a summit and the chief economist for the National Association of Realtors (NAR), Lawrence Yun, was a speaker. The predictions were generally conservative. "Housing starts figures have been low. Once the jobs figures come around, things will turn. 1.5 million jobs will be created annually over the next two years, with unemployment dropping to 8% by 2012 and 6% by 2015. Home prices are expected to remain steady but interest rates will climb out of the current low levels to around 6.2 by 2012." There was no concrete reason for these predictions that I could sink my teeth into. As always, foreword looking information can not be fully relied upon and everyone that predicts puts spin on data that validates their argument! I can assist unravel these for San Diego's micro-markets. Being in the trenches locally, I experience this first hand and am able to keep my finger on the pulse.

For Buying or Selling, You Need a Teacher that gives you straight answers. For more information on buying, selling, or renting out an income property in San Diego, please call Frank Rashid's cell phone at (858) 676-5250 or email him at rashid@rashidrealty.com. More to follow within the next couple of weeks.

15 year rates as low at 3.75%! Believe it! Can it last?

Last week mortgage interest rate 4.25% for 30 year and believe it, 3.75% for a 15 year fixed! This is the best time to buy and for all the right reasons, financials make it work, they make it believable and they make it the right thing to do. If you have been on the fence thinking of moving, this is a good time to do it and lock into a low interest rate on your target home. My sellers are doing this and taking advantage of this anomaly. Soon this should correct itself as rates go up again.

For Buying or Selling, You Need a Teacher (see Union Tribune article last weekend). For more information on buying, selling, or renting out an income property in San Diego, please call Frank Rashid's cell phone at (858) 676-5250 or email him at rashid@rashidrealty.com. More to follow within the next couple of weeks.