Home Buying in San Diego>Question Details

nishali82, Home Buyer in San Diego, CA

should i buy ASAP or wait?

Asked by nishali82, San Diego, CA Thu Jun 20, 2013

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19
Hi There,

Inventory in the MLS is increasing, so the frenzy will calm down. Interest rates increased, but settled a little in recent days. They're still low, but no one can know what they'll do in the future.

Re: properties not in the MLS, I've had agents tell my buyers they had access to properties not in the MLS, and they never surfaced. There are very few properties not in the MLS. Any seller who wants as much money as possible is going to have it listed in the MLS. When it's listed, many web sites will pick it up. There's no reason in a seller's market to not include it in the MLS. There are agents who'll sell you on pocket listings, but in reality there are none to few in this market, but it might get them clients. Unless a seller just doesn't need the money a bidding war creates, they cannot benefit from being a secret listing. But the listing agent and/or broker can. He can try to find his own buyer and earn double the commission. Not exactly ethical, but since dual agency is legal in California, agents try to convince sellers it's in their best interest. All you need is an open house and a few days of showing. I've never met a seller who thinks that way.

If you're ready to buy, it definitely can't hurt to start looking with an agent with your financial interests put first.

Warm Regards,

Cory La Scala, REALTOR
Independence Realty
619-825-6421 Direct
619-884-3452 Cell
Lic # 01443391
1 vote Thank Flag Link Thu Jun 20, 2013
I would really run the buy vs. rent calculation. If your house payment is close to what your rent payment would be in a similar neighborhood you would choose to rent, I would buy. As you get the additional bonus of the mortgage interest & propert tax write-off + the monthly principle pay down on the loan.

But if rent is lower there are a lot of benefits to renting:
1. Lot's of flexibility to move if your job changes or you don't like the neighborhood
2. No maintenance or repair expenses
3. No risk of home prices falling in future
4. You don't have to tie up a large down payment and possible closing costs (you can keep all that in reserves as a cushion or invest it)
0 votes Thank Flag Link Tue Jul 30, 2013
I have not seen any ASAPs for sale!
0 votes Thank Flag Link Tue Jul 30, 2013
lol
Flag Tue Jul 30, 2013
Is this still an active thread? If so please give me a call. 760 815-6977.
0 votes Thank Flag Link Tue Jul 30, 2013
Hi!

If you are feeling 'rushed' or 'panicked' to buy, take a deep breath. It is only a good time to buy when YOU want to make the transition to purchasing a home.

Several top economist recently made statements that the dramatic price increases in homes is "unsustainable'. This is different than warning of a crash, it is simply saying price increases will moderate, and I believe they will.

So don't put pressure on yourself. Buying a home should be because you want a place to make yours, not because everyone is telling you how crazy the market is.

David Rudd

Kindred Real Estate
858.395.6315

CA DRE# 01402946
0 votes Thank Flag Link Sat Jun 22, 2013
Hi,

We like Cory's answer as well. Know that as primarily listing agents, we are still receiving many offers on some properties but not others.

The same principals hold true today, price, location and condition determine the speed of the sale in any market.

Best of luck to you,

Mark & Kari Shea
Shea Real Estate
National Association of Realtors
CA DRE License 01713506
0 votes Thank Flag Link Fri Jun 21, 2013
The good time to buy when you are ready! No matter how low market can be if you emotionally not ready you will not buy!
0 votes Thank Flag Link Thu Jun 20, 2013
Amen Cory!!!

​Sinead McAllister-Clifford
Real Estate Broker/ Realtor®

McAllister Homes Real Estate
Residential Sales & Property Management
http://www.McAllisterHomes.com
License 01366009
858-205-5215 CELL
info@mcallisterhomes.com EMAIL
0 votes Thank Flag Link Thu Jun 20, 2013
Start looking now. Be selective. If you find something you like make an offer. You shouldn't feel like you have to buy "ASAP". You should start the process of looking ASAP.
0 votes Thank Flag Link Thu Jun 20, 2013
Honestly, I see different variations of this question almost daily. No one can tell you whether it's a good time to buy...even though loads of us (myself included)...would love to earn your business!

The questions I would ask to help clarify what is ultimately your decision are:

1) Do you have the cash reserves and your financial ducks in a row?
2) Can you get pre-approved for an amount that will get you a home you want?
3) Are you ready to take on the added finances and responsibilities of a home-owner?
4) Is your income stable?
5) Is there anything pressing in your life that impacts the decision on way or another?

Please feel free to call me if you wish to discuss this further!

Cindy Davis, Broker

(619) 379-8616
0 votes Thank Flag Link Thu Jun 20, 2013
With the current trends of increasing interest rates and increasing home prices, you are losing buying power by the day. If these trends are any indicator of the future, Buy now.
0 votes Thank Flag Link Thu Jun 20, 2013
Hi...if you can find something that is not on the MLS you can still find a great deal in this market. Properties that are on the MLS right now are receiving overbids and multiple offers right now. There is a "frenzy"...especially at the entry-level and medium price points. In my opinion I would recommend finding something that is not on the MLS or waiting about 6 months till inventories rise and the frenzy softens. If you are interested in homes not on the MLS you can contact me directly and I can set you up with these properties. I always answer my phone too!

Frederick Remick
TOP PRO
Keller Williams RE
619-519-3287
http://www.pocketlistingsandiego.com
0 votes Thank Flag Link Thu Jun 20, 2013
What ever you do make sure you are pre approved with a good lender. Can't make an offer theses days without it. Contact me if you need assistance.
craig@sandiegoreoteam.com
0 votes Thank Flag Link Thu Jun 20, 2013
Buy ASAP ...
Market is HOT
Rates and Home prices both rising

-- Rod --

Powers HomeSelling Team
858-243-3699

PowersRealEstateTeam@gamil.com
Serving San Diego Family for 31 Years!
0 votes Thank Flag Link Thu Jun 20, 2013
Hello Nishali,

If you can afford to buy now and find something you like, then, I think now would be a good time.
If you wait, you risk the chances of having to buy at higher prices, higher interest rates, and then not finding the home that you want. The first step is choosing what realtor and lender you want to help you through the process. Feel free to contact me directly with any questions.

Kevin Sanderlin
Keller Williams Realty
Cell 858-212-4702
kevinsanderlin@gmail.com
0 votes Thank Flag Link Thu Jun 20, 2013
I'd wait until tomorrow. Then buy everything West of the Mississippi!
0 votes Thank Flag Link Thu Jun 20, 2013
Hi Nishali,
I would not advise waiting. In my opinion prices are going to continue to go up (albeit more slowly that in the first half of this year) and interest rates will also continue to rise. I do not see an advantage to waiting. That is just my opinion though, your reasons for acting now or waiting will ultimately be your own! :)

If I can assist you in any way, please contact me using the information below.

Thanks!
​Sinead McAllister-Clifford
Real Estate Broker/ Realtor®

McAllister Homes Real Estate
Residential Sales & Property Management
http://www.McAllisterHomes.com
License 01366009
858-205-5215 CELL
info@mcallisterhomes.com EMAIL
0 votes Thank Flag Link Thu Jun 20, 2013
Do you need a home now?
If yes, then you should buy NOW!.
If no, then your question must be restated?
What is your real question if you are not in need of a home NOW?
0 votes Thank Flag Link Thu Jun 20, 2013
Well, with the huge drop in the stock market today due to fears (attributed to Bernanke's comments yesterday regarding the Fed's plans for the future) about possible rising interest rates ......if you're financially sound and want/need to buy a home.................now is as good a time as ever!
0 votes Thank Flag Link Thu Jun 20, 2013
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