Hope Leitner, Realtor®, CRS

In the height of summer San Diego is at it's finest. We have big plans for the 4th of July this year! The Fair is wrapping up with a bang on the 4th. Also, Comic-Con is back in full swing this year! We have a lot to celebrate, and our good weather and fun spirit are a big part of that celebration. See images below for more events! If you know anyone who might be interested in receiving this event calendar every month, please have them sign up at this  link.   PONDER THIS - “Rest is not idleness, and to lie sometimes on the grass under trees on a summer’s day, listening to the murmur of the water, or watching the clouds float across the sky, is by no means a waste of time.” ~ John Lubbock   If you find you aren’t making enough time to enjoy the season and allow your mind to rest - Do it. This will help you clarify what you really need to be doing in work and in life.   Remember, I am always here for my clients and their friends and family.   Hope Opens Doors,   Hope Leitner

A common concern for homeowners is that if they sell their home first, they may not be able to find another home to buy.  It is understandable with the low inventories currently available in most markets, but a strong argument can be made to buy your replacement home first. In fact, there are some advisors that would tell you not to sell at all.  Instead, keep the home for a rental investment and refinance it to pull out some cash for the down payment and closing costs for the new one. Many homeowners recognize that their home has been an excellent investment for them.  Their home may have outperformed their retirement and other investments.  In all likelihood, homeowners understand the management and benefits of a single-family home far better than they understand stocks, mutual funds, annuities, or ETFs. Just as there are low inventories of homes for sales, there are shortages of available single-family homes for rent, as is evidenced by rent continuing to rise.  Rising

June is traditionally the start of the high season in Real Estate. The same holds true this year.  More people have made the commitment to move, and with rising interest rates now is a good time to buy because prices are holding steady - there aren't "sky rocketing" price increases for now. But, the more interest rates rise the less bang you'll have for your buck.  However,  we are still in one of the best real estate markets of our lifetime - especially, if you're a seller. This is a competitive market. I left the May Market report at the bottom for comparison.  The only thing we know for certain is that everything will change.  If you know anyone who might be interested in receiving this market update  every month, please have them sign up at this link.  PONDER THIS - "The way to get started is to quit talking and begin doing" - Walt Disney -  What are you waiting for? Now is the time to do the things you want and need to do. End up in your dream -

The primary negotiation in a home purchase takes place when the contract is agreed upon that includes the price, closing and possession.    With inventory down over 19% in the past year and multiple offers being more of the norm than the exception, the first round of negotiations can be challenging. Buyers and sellers alike feel relieved once it has resulted in an agreement, but experienced agents know there is more to come if there are contingencies for financing, inspections, or other things.   The competition for the home may be so tough that the buyer waived their rights for what would be normal contingencies. Financing is one of the most common contingencies in normal situations but when multiple offers are involved, the cash offers tend to have the advantage.   If you don't have the resources to make a cash offer, the next best position is to be pre-approved with a commitment letter from the lender.   Arrange for the lender to confirm the pre-approval directly wi

This eNewsletter strives to give you information that will help you make an informed decision around your real estate goals. The news is relevant to the market this summer.    I am here to support you whatever your real estate needs might be.  When you are ready to make the decision to buy or sell, give me a call.   PONDER THIS - "The way to get started is to quit talking and begin doing" - Walt Disney -  What are you waiting for? Now is the time to do the things you want and need to do. End up in your dream - How can real estate help you get there?   As always, I am here for you, your family, and friends.   Hope Leitner, CalDRE #01874321 Hope Opens Doors HOMEBUYING, HOME SELLING, CONTRACTS, MARKET CONDITIONS     Housing Sales Take a Breath     If you’ve been anxious about being able to buy a home, you’ll like the latest news in March 2022 from the  National Association of REALTORS  (NAR) and the  Mortgage Bankers Association  (MBA). Housing sales are slowing down. In Februar

In inflationary times, currently the highest in 40 years, the purchasing power of your money diminishes each day; essentially, buying you less.   The biggest threat is to be without capital assets, like a home, that are benefiting from the increase in prices.   Your money buys less gasoline now, than it did a year ago, by close to 50%. Beef prices are up about 20% since last year.   Used cars are about 35% more expensive than they were a year ago.   Mortgage rates are near 5% after reaching their lowest of 2.65% in January 2021. And then, there is the price of houses.   CoreLogic reports that home prices increased year over year by 20% in February 2022.   Their Home Price Index indicates an annual five percent increase in prices from 2014 to 2021. For many people, the American dream of owning a home is slipping away.   Adjusting your expectations for the perfect home and when you expect to achieve it, can be a legitimate, long-term strategy to making the dream come true

Rising interest rates compounded with increasing home prices are causing affordability issues for many buyers.   To keep payments low, you won't have to give an arm, but more buyers are considering getting an ARM, adjustable-rate mortgages. Mortgage rates are near its highest point since 2009.  "While housing affordability and inflationary pressures pose challenges for potential buyers, house price growth will continue but is expected to decelerate in the coming months."  said Sam Khater, Freddie Mac's Chief Economist. A $400,000 home with 10% down payment and a 30-year term has the choice of a 5.27% fixed-rate or 3.96% for a 5/1 adjustable-rate mortgage.   The principal and interest payment will be $1,992.40 for the fixed-rate and $1,710.40 for the adjustable rate saving the buyer $281.99 per month for five years. There is an additional savings for the buyer choosing the adjustable-rate mortgage because the unpaid balance at the end of the five-year fir

  Summer is here!  The popular San Diego Summer Concert Series is back! We are so very lucky to be able to rely on good weather for all the outdoor events we have here. We are also very lucky. to have so many great parks in San Diego. Not many cities have such wonderful open spaces.    If you know anyone who might be interested in receiving this event calendar every month, please have them sign up at this  link.   PONDER THIS - "The way to get started is to quit talking and begin doing" - Walt Disney -  What are you waiting for? Now is the time to do the things you want and need to do. End up in your dream - How will real estate help you get there?   Remember, I am always here for my clients and their friends and family.   Hope Opens Doors,   Hope Leitner