#TeamBalch
Tina Balch
858-264-0822858-264-0822

Don’t wait to buy real estate | Buy real estate & WAIT!

2018 started 30 yr mortgage rate @ 3.95%, now currently at approximately 4.40% (source: https://ycharts.com/indicators/30_year_mortgage_rate). 
San Diego’s single family median price is at $635,000 up 10.5% from last year (March 2018 source: Sandicor Inc).
To see a better picture, let’s calculate the numbers…after all it’s all about the numbers!
Ok let me pick an area…hmmm…what’s my favorite area, yup! you guess it right! Mira Mesa =)
Say if you bought a single family in Mira Mesa in January 2018, median price then was $595,000 and 30 year interest rate then was 3.95%, your monthly payment (with 20% down payment) would have been $2,945 (principal, interest, tax & insurance)
But if you waited, for the same home, median price went up to $615,000 and interest rate went up to 4.40%, your monthly payment couple months later is……… $3,171
Monthly payment up by $226 by just WAITING! Plus your downpayment requirement went up too by $4,000!
 
Just saying…why wait? We are ready when you are! by the way, you don’t have to come up with 20% down payment to buy…we have TONS of options to discuss with you from as little as 3.5% down payment or finding you ways to secure down payment or closing cost assistance! Ready to take the plunge or have any questions? Contact me!
Tina Balch, Realtor
DRE 01310121
teambalch@gmail.com
858-480-5770
 

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