Spend Some Time Outside

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Spending too much time inside may be causing some of us even more stress, so let’s try to spend some time outside. Now is the perfect time to work on the exterior of your home. If you have projects you started and didn’t finish (don’t we all have that endless list), try find some time to continue working on them. Even if you don’t finish them, it will still help you to feel productive and get you moving.

If you are looking for new projects to start here are some ideas:

  • painting your front door (make the right first impression)
  • pressure washing decks and exterior
  • landscape clean up or renovations
  • repainting your home’s exterior

With these ideas, make sure you are staying safe and following social distancing guidelines. Many of these tasks can be accomplished on your own and don’t require you to hire contractors. If you do work with others, make sure you keep the recommended distance and try to complete any paperwork electronically. Stay safe!

For more information on this article, click here.

Mortgage Rates Close To All-Time-Low

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Mortgage rates continue to fall for another week amid the pandemic. This week rates fell to 3.31%, putting them only three basis points away from an all-time-low.

The government continues to put money into capital markets to keep rates low and help the recovery of the economy once it begins reopening. I believe rates will continue to float down by a small amount in the coming weeks.

What does this mean for you? If you have been contemplating a refinance of your mortgage now may be a good time to act. A lower monthly payment may be a good option for you during these times of uncertainty. If you had been thinking of purchasing a home and still find yourself in the position to do so, it would be a good time to lock in a low rate for your mortgage. If you have questions, reach out and let’s discuss a plan of action.

For the full article from Housing Wire and my comments, click here.

Is Forbearance the Right Option For Your Mortgage?

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I hope everyone is well and staying safe. Lately there has been a lot of talk about forbearance and loan forgiveness programs for borrowers. These two programs may be the right solution for those borrowers who have found themselves unable to continue making their regular mortgage payments. If you think you may need this kind of solution, please give me a call so we can discuss the best plan of action.

Like I mention in the video above, if you can continue to make your mortgage payment please do. Forbearance should only be done by those who do not have the means at the moment to pay their mortgage. Times are definitely tough, but we will get through this. Please stay in touch and let me know if there is anything I can help with.

-Mark H. Goldman

Rates Keep Dropping

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We continue to see rates dropping amid the slowing of the economy. Earlier this year the low rates had increased the refinancing business and I think we will continue to see more of this. With peak home buying season coming up, the low rates may help to bring in more buyers and help them to afford homes. To read more about this, click here.

San Diego Home Prices Rise

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I spoke with the San Diego Union-Tribune about the rise in prices compared to last year. Over the last year we have seen a steady increase in home prices. They have reached a new peak at $585K, up 8% from last year. This change may be due to the low interest rates we continue to see. This has helped more buyers purchase homes and it has driven competition. The low interest rates have been driven by many factors, to read about this and more click here.

September Real Estate Market Update

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I wanted to share a quick update with you about what I have observed in the housing market. Below you can find a video where I discuss the trends we have seen.

One of the many observations is of course interest rates. They are still low, but what does it mean for you? If you are contemplating a refinance or purchase, now may be the time to act. Along with low interest rates, there are many loan programs available that may meet your financing needs.

Watch the video below for more information and let me know when I can help put together a plan for you.

What Is Zillow Offers?

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Zillow Offers is a new program that has arrived in San Diego. This new program offers to help homeowners sell their home faster. While this may sound appealing to sellers, the downside is the price point. Zillow Offers may not pay what some sellers would like. Their offer comes in at market value and not typically higher. This may be good for sellers who are simply ready to move on from their current home for various reasons and are not too concerned with getting the highest offer. It’s also an opportunity for sellers who are not interested or cannot afford to make any renovations or changes to their home that would garner a higher offer. So while there are benefits to this program, it is not for everyone.

I spoke with some news outlets about this program. You can check out the articles here and here. Some San Diego realtors also offer their opinion on this program and it’s definitely worth the read.


Increase In San Diego Home Sales

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I recently spoke with 10News about the increase in home sales we have seen over the last few months. This is a nice change to the trend we had been seeing in San Diego. For the past year, home sales had been declining due to factors like rising home prices and high interest rates. With interest rates decreasing over the last few months, sales have been picking up. While this is a good change for home buyers borrowing to purchase a home, the factor that has not changed is home prices. For this reason many buyers are looking outside of San Diego county when deciding to purchase a home.

These are some of the topics discussed, for the full article click here.

What Is An Appraisal?

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Down below is a short vide explaining the importance of an appraisal in the home buying process. An appraisal can help to give you a better idea of the value of your investment in a home. For any questions you may have, reach out to me I’m happy to help!

Is Now The Time To Refinance?

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I spoke with Bloomberg about the rise of refinancing we have seen.

Market timing is always an issue in the real estate and financing business. Although many expect rates to continue to decline, we do not know where the bottom will be. But, when people wait to see the bottom, they jump into the market AFTER the moment of greatest opportunity. In this case, lowest interest rates. In addition, they forgo the time that they would have enjoyed a lower interest rate by seizing a good market opportunity NOW.

Rates go up and they go down. We do not know the how much or when they move. Here are two alternative scenarios with more change and less change in interest rates. In an ideal world, we want to hit the bottom, marked with the red arrow. I my  opinion, it is better to seize a rate opportunity as rates decline rather than miss an opportunity as rates are increasing. I have also observed that rates increase faster than they decrease in past cycles.

I think now is a great time to review mortgage debt and evaluate a refinance. Let me know how I can help you.

For the full article, click here.