When Is the Right Time to Buy a Home in San Diego? 

Photo Credit: Flickr: Geoff Lang

(this article was written in Summer 2016) 

“Is this the right time to buy?”

This is a question I get from clients and potential clients all the time, and my answer always starts out the same way - “My crystal ball broke yesterday.” In other words, it’s extremely difficult to predict where home prices will be in the next 3-4 years, and even economists disagree about what the future holds for the housing market.

That being said, here are a few things to consider if you’re thinking about purchasing a home in today’s San Diego housing market.

San Diego has been experiencing a strong seller’s market for the last several years. This trend has extended across many areas and price ranges, and it doesn’t seem to be about to let up anytime soon. The market is being driven by a combination of low inventory, low interest rates, and strong buyer demand, all of which are driving home values up.

Of course, it’s ideal to perfectly time the market when buying a home in order to purchase when prices are low and get the most bang for your buck (but most people who time the market perfectly did it by pure chance). On the flip side, many buyers purchasing in a declining market are also concerned about prices continuing to fall after they buy (which could obviously impact their home’s resale value).

Current interest rates are around 3.5%, which is low. A more normal range is around 5.5%. As interest rates rise, it will affect what people can afford, and eventually rising rates will cause home values to level out or fall. The time you DON’T want to buy is when both interest rates AND home prices are high (unless you really need a place to live and you’re planning for the long term). But these things can be difficult to predict.

So when is the right time to buy? To me, it comes down to these questions: Can you afford it? Can you find a home that you love in your price range? Do you have options for what to do with the property long term (because if you know you will need to sell it in one or two years, you may lose money)? Does the purchase fit with your family’s long-term financial plan?

There is no easy, one-size-fits-all guide to the right time to buy a home in San Diego. But if you answer “no” to any of these questions, renting may still be your best option. And there is nothing wrong with renting! Read my article about the top five reasons to rent in San Diego.

If you answered yes to all those questions, now may be a good time for you to buy - no matter what is going on with interest rates and home values. I recommend that we meet for a Buyer Strategy session in which we can discuss your specific situation, what you’re looking for in a home, and how I can help you.

See Also: Is Now a Good Time to Buy a Home in San Diego? Part 2

---------------------------------------------------------

Justin Gramm is the founder and principal broker of Globella Buyers Realty, your San Diego Exclusive Buyer Brokerage.

Exclusive Buyer Agents do not list homes for sale and never represent sellers. They have no "inventory" to try to sell you. They can represent you in purchasing any home. They are specialists at representing buyers only on the buyers' side of the transaction. Exclusive Buyer Agents work to get buyers the best price and terms when they buy a home.

If you have excellent credit and plan to buy a home or condo in San Diego County within 90 days, contact Justin Gramm to hire an agent on your side of the transaction. More about Justin Gramm on . Call Justin at (858) 437-2662 or E-mail.

San Diego Exclusive Buyer Broker, Buyer's Agent, Real Estate | DRE License #01855249
E: info@globella.com | T: 858.437.2662
Find Globella on FacebookFind Globella on LinkedInFollow Globella on TwitterFind Globella's Blog for Buyer's
Globella's Profile on TruliaFind Globella on ZillowMember of the National Association of Exclusive Buyer AgentsMember of the San Diego Association of REALTORS®Member of the California Association of REALTORS®Member of the Real Estate Buyer's Agent CouncilMember of the Sandicor MLSLearn about Short Sale & Foreclosure ResourceLearn About Accredited Buyer’s RepresentationMember of the National Association of REALTORS®


Justin Gramm, Broker
Globella Buyers Realty
Ph: 858.437.2662  -  Fax: 858-228-9801
4315 Corinth Street
San Diego, CA 92115
 CA BRE# 01714813
www.Globella.com

 

Buyer Strategy Session |  Buying a Home in 2019 |  When to Hire an Agent |  How My Schedule Works |  About Globella |  When to Buy? Part 1 |  Globella Questionnaire |  How I Work |  About Justin Gramm |  Buyer Representation |  Helpful Buyer Links |  Home |  How I Get Paid |  VIDEO: Meet Justin |  Location = Lifestyle |  Buyer's To-Do List |  Relocating to San Diego |  WE SEARCH San Diego |  Testimonials/Reviews |  About Buyer Agency |  YOU SEARCH San Diego |  How to Write an Offer |  First-Time Homebuyers |  10 Best School Districts |  What is an EBA? |  North Cty vs. San Diego |  What is Dual Agency? |  New Construction |  Paperwork |  Paperwork Explained |  The Informed Buyer |  Retiring in San Diego |  The Dual Agent Trap |  Dog-Friendly Buildings |  3 Investing Strategies |  Home Buying FAQ |  The Globella Difference |  Buying a Condo |  Help for Luxury Buyers |  Accredited Agent (ABR) |  5 Reasons to Rent |  Buying Foreclosures |  1031 Exchange Tips |  Privacy Policy |  5 Reasons to Buy |  Agency 101 |  Avoid Moving Twice |  Preapproval Questions |  Negotiation Expert |  Agency Disclosure |  Agent Ethics |  Top 1% of Realtors |  Foreclosures |  Choosing a Lender |  Buyer Agent Interview |  Second Home Expert |  Negotiating Your Loan |  Buyer Services |  Hiring an Inspector |  Buying a New Home |  Avoiding Wire Fraud |  Termites! |  Get a Home Warranty |  Hot vs. Cold Market |  Checking HOA Health |  Hazard Insurance Tips |  Condo Litigation |  Earthquake Insurance |  SD Weather Tips |  Property Taxes |  Cost of Granny Flat |  Vesting as LLC or Trust |  Buying with a VA Loan |  Investor Services |  Code of Ethics |  Buyer Resources |  About the Name |  Contractor List |  Moving Checklist |  The Grande: Downtown Condos |  Seven on Kettner |  Treo |  Beech Tower |  Citymark at Cortez Hill |  Park View |  Gaslamp City Square |  Watermark |  235 on Market |  Atria |  Brickyard |  Columbia Place |  Harbor Club |  Island Lofts |  Angove Lofts |  Jacaranda Studios |  Rowhomes on F |  Bella Via |  Columbia & Fir Lofts |  Date Street Townhomes |  Ecco Lofts |  Finestra Lofts |  Hawthorn Place |  Kettner Rowhomes |  Lusso Lofts |  The State |  The Waterfront |  Victorian House |  Aperture |  Preparing a Short Sale Offer |  How A Short Sale Lender Analyzes an Offer |  Short Sale Lenders Approval Options |  Different Short Sale Lenders Act Differently |  Loss Mitigation vs. Foreclosure Departments |  Short Sale Defined |  The Ideal Short Sale Seller |  Why Do Banks Even Consider Short Sales? |  Some Listed Short Sales Are Not Closeable |  La Jolla |  Del Mar |  Point Loma |  Rancho Santa Fe |  Pacific Beach |  Coronado |  Downtown San Diego |  Contact Us |  Search Options |  Communities |  Buying Short Sales |  FAQ |  4 Search Drawbacks |  International Buyers |  Luxury Buyers |  First-Time Buyers |  Vacation-Home Buyers |  Move-Up Buyers |  Downsizing Buyers |  1031 Exchange Buyers |  Luxury San Diego Real Estate |  Fair Housing |  Investment Buyers |  San Diego Photos |  New-Home Buyers |  Testimonial Chuck Smith |  Testimonial Downtown Steve |  What's Exciting! |  How We Work |  Short Sale Testimonial |  Investing |  Buying a Home |  Footer Links |  Local Restaurant Reviews |  SD Restaurant Reviews |  Things to Do in SD |  SD Eatery Reviews |  Paperwork |  How We Work |  About Our Name |  How We Get Paid |  Before Writing Offer |  Before You Write an Offer |  Before Writing an Offer |  Del Mar Buyers Agent |  92101 Buyers Agent |  Loan Doc Signing Tips |  Testimonial - Samantha Z. |  How I Work |  Review from Melanie & Michael |  Review from Erica M. |  Buying in 2014 |  Spring Home and Garden Show 2014 at Del Mar Fairgrounds |  Review from Daniel E. |  how-to-sell-my-home-&-buy-another-without-moving-twice |  Review from Steve and Chi |  Buying in 2015 |  Spring-Home-Garden-Show-San-Diego-Del-Mar-Fairgrounds |  Buying a Home in 2016 |  Review from Michael I. |  Review from John and Wendy |  Review from Allison H. |  Review from Frank S. |  Broken-Landing-Page |  San-Diego-Spring-Home-and-Garden-Show-2016 |  Your Ivy at Carmel Valley Exclusive Buyer's Agent |  Your Sea Cliff Exclusive Buyers Agent |  Your Avery Pointe at Veridian Exclusive Buyer's Agent |  Your Lanai in Carlsbad Exclusive Buyer's Agent |  Your Pacific Gate San Diego Exclusive Buyers Agent |  Your SummerHouse Carlsbad Exclusive Buyers Agent |  2016 San Diego Market |  Your-Park-at-Bankers-Hill-Exclusive-Buyers-Agent |  Your Aura Exclusive Buyers Agent |  San Diego Buyer Agent Review from Mary R. |  San Diego Buyer Agent Review from Dan B. |  Your Estates at Del Sur Exclusive Buyers Agent |  San Diego Buyer Agent Review from Ken and Cindy |  Three Reasons to Buy a Home in Hillcrest, San Diego |  Three Reasons to Buy in Bankers Hill San Diego |  Your Elms at Carmel Valley Exclusive Buyers Agent |  When to Buy? Part 2 |  San Diego Buyers Agent Review from Kevin C. |  Three Reasons to Buy in Encinitas San Diego |  San Diego Buyer Agent Review from Natacha S. |  Is Fall a Good Time to Buy a New Home? |  Your Elms at Carmel Valley Exclusive Buyers Agent |  Your Canterra Exclusive Buyers Agent |  Three Reasons to Live in Normal Heights, San Diego |  San Diego Buyer Agent Review from Renaud P. |  Buying a Home in 2018 |  Your Estancia at Cielo Exclusive Buyers Agent |  Your Upper Cielo Exclusive Buyers Agent |  Three Reasons to Buy a Home in La Mesa |  Your-Cottages-at-St-Cloud-Exclusive-Buyers-Agent |  Your Harmony Grove Exclusive Buyer Agent |  Three Reasons to Live in Kensington, San Diego |  8 Home Maintenance Tips for Spring |  Federal Interest Rate Hike and San Diego Homebuyers |  Review from Stewart H. |  Review from Roland M. |  Review from Duane and Nancy |  Review from Natacha S. |  Review from Shandi and Michael |  Your Savina Exclusive Buyers Agent |  Your Escaya Exclusive Buyers Agent |  Your Terraces at Robinson Ranch Exclusive Buyers Agent |  Your Signature Exclusive Buyers Agent |  Your Garrison Landing Exclusive Buyers Agent |  Review-from-Joseph-C |  Review from Kara S. |  Review from Martin and Jackie |  2018 Market Update |  Three Reasons to Live in South Park San Diego |  Review-from-Adam-W. |  New Granny Flat Law in San Diego |  Why Buy at Civita |  Review- from-Randy-F. |  Review-from-Oline-C |  Buyer's Privacy Rights |  Review from Alex M. |  Three Reasons to Live in Tierrasanta |  Review from Greg C. |  Review from Kenjie S. |  Review from L.T. |  Review from Mike L. |  Sandicor Statistics |  Videos |  Market Statistics |  Blog |  Site Map | 

Powered by LinkURealty - Real Estate Web Design & Websites

By: Justin Gramm

.

 

Globella's Real Estate Blog "For San Diego Home Buyers":

Real Estate Blog for San Diego Home Buyers | Solana Beach Real Estate Buyers Agent - 92075 | San Diego Real Estate Market Statistics and Trends 2nd Quarter 2011 | Cardiff Real Estate Buyers Agent - 92007 | Encinitas Real Estate Buyers Agent - 92024 | Coronado Island Real Estate Buyers Agent - 92118 | Point Loma Real Estate Buyers Agent - 92106 | Talmadge Real Estate Buyers Agent - 92115 | Clairemont Real Estate Buyers Agent - 92117 | Poway Real Estate Buyers Agent - 92064 | Carlsbad Real Estate Buyers Agent | Talmadge Real Estate Buyers Agent - 92115 | Clairemont Real Estate Buyers Agent - 92117 | Poway Real Estate Buyers Agent - 92064 | Carlsbad Real Estate Buyers Agent