Hope Leitner, Realtor®, CRS

Thinking about buying a home? While today’s   mortgage rates   might seem a bit intimidating, here are two solid reasons why, if you’re ready and able, it could still be a smart move to get   your own place . 1. Home Values Typically Go Up Over Time There’s been some confusion over the past year or so about which way  home prices  are headed. Make no mistake, nationally they’re still going up. In fact, over the long-term,  home prices  almost always go up ( see graph below ): Using  data  from the  Federal Reserve  (the Fed), you can see the overall trend is home prices have climbed steadily for the past 60 years. There was an exception during the 2008 housing crash when prices didn't follow the normal pattern, but generally, home values kept rising. This is a big reason why  buying a home  can be better than  renting . As prices go up and you pay down your mortgage, you build  equity . Over time, this growing equity can really increase your net worth. The  Urban Institute   says :

  Should I Wait for Mortgage Rates To Come Down Before I Move? If you’ve got  a move  on your mind, you may be wondering whether you should wait to sell until  mortgage rates  come down before you spring into action. Here’s some information that could help answer that question for you. In the housing market, there’s a longstanding relationship between mortgage rates and buyer demand. Typically, the higher rates are, you’ll see lower buyer demand. That’s because some people who want to move will be hesitant to take on a higher mortgage rate for their next home. So, they decide to wait it out and put their plans on hold. But when rates start to come down, things change. It goes from limited or weak demand to good or strong demand. That’s because a big portion of the buyers who sat on the sidelines when rates were higher are going to jump back in and make their moves happen. The  graph below  helps give you a visual of how this relationship works and where we are today:   As Lisa Sturteva

  The Latest Expert Forecasts for Home Prices in 2023 For Buyers First Time Home Buyers Move-Up Buyers Buying Myths Are you thinking about  making a move ? If so, all the speculation that  home prices  would crash this year may have you feeling a bit on edge about your decision. Let the data and the experts reassure you. Prices aren’t in a downward spiral and will actually finish the year strong. Even though you may have heard talk that prices would drop 5, 10, or even 20% this year, that hasn’t happened. The big reason why is the  supply of homes  for sale is too low. There are just  more buyers  looking to buy than  homes available , and that’s kept prices from falling. To prove this year wasn’t a bust for  home prices , let’s look at the latest 2023 forecast from a number of experts. Most Experts Project Home Prices Will Net Positive this Year The general consensus from industry experts is that home  price appreciation  will actually be positive for 2023. The graph below shows the l

  This month's eNewsletter is full of good advice. There's a building boom on - if you want a new home pay attention to the details. Also, if you're going to buy, "right size" the home for your needs.    If you're thinking of buying or selling, please call! There's a lot to consider in today's market!    August - Ponder this  - “What good is the warmth of summer, without the cold of winter to give it sweetness.” ― John Steinbeck,  Travels with Charley: In Search of America  We can’t appreciate the sun without knowing the clouds. Even though it’s hot the sun is shining and life is thriving in this summer heat.    As always, I am here for you, your family, and friends.   Hope Leitner, CRS, CalDRE #01874321 Hope Opens Doors   Berkshire Hathaway HomeServices, California Properties Christie D. Horn and Associates 3790 Via de la Valle, Suite 201, Del Mar, CA 92014 Cell: (858) 382-3763 Website: HopeLeitner.com Email Hope       HOMEBUYERS, BUILDERS, MORTGAGE R