If you’re planning to buy or sell real estate, start keeping track of market trends. These real estate market reports will inform you about market conditions in Coastal North San Diego County, and how they have changed over the past year.
What’s Happening in the North San Diego County Real Estate Market?
North County real estate values are slowly increasing, especially in the coastal areas. In February, sales picked up, and more properties went into escrow. That left us with a smaller inventory, and slightly higher prices, in early March.
For Buyers: Interest Rates, New Loan Programs, Down Payment Assistance
In January 2015, interest rates dropped again to 2014 lows. The rates have gone up slightly since then, but many borrowers can still qualify for rates under 4%.
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Mortgage Limits in 2015 – Conventional, VA, FHA
The 2015 mortgage limit for San Diego County is $562,350. In certain cases, people who could not qualify for loans last year may find that they qualify now.
Loan Program Update
FHA Loan Programs have lowered their monthly mortgage insurance, effective January 2015. There is now an FHA loan program that requires only 1/2% down payment. VA Loan Programs continue to offer $0 down mortgages to eligible military active duty and veterans. Starting December 13 of last year, Fannie Mae began offering conventional loans with only 3% down payment.
Down Payment Assistance
The California Housing Finance Agency offers down payment assistance to low to moderate income Californians. Also, check out the Down Payment Resource Directory, an online search tool to identify more down payment assistance programs.
Consult the Real Estate Market Report for Your Area
- Carlsbad Real Estate Market Report
- Encinitas Cardiff Real Estate Market Report
- San Marcos Real Estate Market Report
- Vista Real Estate Market Report
What’s Next?
Are you curious about how much your home is worth? Are you considering buying a home in a certain neighborhood? If you’re interested in a particular property or area, contact me for a specific market analysis. I also provide information about closing costs, to give you a good idea of the true cost of buying or selling real estate, depending on the property.
If you’re thinking of selling, you can also use my Seller Net Proceeds Worksheet, to estimate your bottom line.
If you’re thinking of buying, you can use my Cost to Buy a House Worksheet and my Monthly Housing Costs Worksheet, to help you budget and plan for the future.
