1. There is no reason to sit on the sidelines waiting for a dramatic drop in price. The market is not crashing. Buyers sitting on the fence will miss out on the long-term appreciation gains and the tax advantages of home ownership.
2. Unlike stocks, homes have utility value. You have to live somewhere, so make your investment work for you by building up equity while you benefit from tax breaks.
3. Homes are realistically priced to move. When you find that dream home, act with conviction and don't miss out.
4. Interest rates remain at near historic lows. Just a small increase in rates will dramatically increase your monthly payments.
5. Mortgage lenders want your business. There are many loan types available, one is sure to meet your needs.
6. It is a good idea to get pre-approved for a mortgage and lock in your rate. You will have more negotiating power with the seller.
7. Sellers are eager to sell and are more likely to make a deal that includes helping with your closing costs and paying HOA fees.
8. Facing a competitive market, sellers are sprucing up their properties so buyers do not need a lot of cash for repairs, renovations, landscaping and appliances.
9. You have more choices. A greater selection of homes currently on the market means a greater chance of finding the home of your dreams.
10. The most important factor is for a buyer to get into the game. San Diego has appreciated an average of 8% over the last 20 years. Housing is a medium to long term investment so you need to get into the game.
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