Is now a good time to buy in San Carlos or wait?

Asked by John Lewis, 92119 Sat Jul 31, 2010

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14
Anthony Damon, Agent, San Diego, CA
Fri Feb 14, 2014
Now is still an excellent time to buy in San Carlos. Prices are still rising and interest rates are still low. We specialize in the San Carlos area - act fast while the window of opportunity is still open!
0 votes
Jim Stinnett, , El Cajon, CA
Thu Sep 16, 2010
John, before I can answer your question I should ask you a few questions of my own.
1. Are you buying a home to live in, to rent or to resell?
2. Are you selling a home in order to buy now? Are you moving up or downsizing.
3. Are you paying cash or getting a loan?

These are all good questions that that you might want to consider when making your final decision.

Since I can’t ask you these I want to generally say that it the time is right in your like to buy a home you are very fortunate that it is now. Prices and interest rates are historic lows and even though no one can predict with certainty the future, all indications are that values will increase in the future. The San Carlos Market has seemed to be holding prices steady for the past few months so don't look for drastic price changes in either direction.
Work with a buyer’s agent and be sure that he or she checks out the comparables sale in the area to help you finalize you offer. Good luck
0 votes
Patrick Hale, , San Diego, CA
Tue Sep 7, 2010
It is a great time to buy if you buy like an investor.

What is your motivating on buying? Primary residence or an investment?

MY TEAM HAS OVER 100 PRE-LISTED FORECLOSURES AND WE ARE THE LISTING AGENT! - Please Email Me If you Are Looking For A Foreclosure In San Diego. Over 30 of them are FHA/VA Approved and Fully Renovated!

Hope this helps!

Patrick A. Hale, CDPE, RSD
Short Sale & REO Listing Agent
Associate Broker

"The Best Way To Predict Your Future Is To Create It"
Keller Williams Realty
Toll Free: (866) 538-6057 I San Diego: (619) 309-7883
Mobile/Text: (858) 539-6803 I DRE License # 01777558
Office: 4370 La Jolla Village Drive, Suite 400
San Diego, CA 92122

SHORT SALE EXPERTS WITH A MISSION TO:
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If You or Someone You Know is in Financial Distress Visit: http://www.SDRealEstate360.com
0 votes
Homertsimpson, , San Diego, CA
Fri Aug 13, 2010
Hey John it may be a great time to purchase a home in the San Carlos area, or most any area of San Diego. Interest rates are very low right now and home prices have obviously dropped quit a bit from a few years ago.

Do you think you're ready to buy a home right now and if so, why?

Have you been pre-approved by a qualified lender already, if not that's where I'd start if I were you. We need to make sure you're very comfortable with whatever your new monthly mortgage payments will be, especially in this market, and that you've been explained all of the latest changed and what your current financial options are.

There are a few questions and items of preparation that need to be addressed and I'd be happy to speak with you to help determine if now's the best time for you to purchase in the San Carlos area. I do work with some of the most experienced financially savvy professionals in the San Diego area who've already gone through the re-certification and education process required to maintain a valid mortgage license and good standing in the state of California... be careful to make sure you're working with this type of lending professional as you venture forward in purchasing your next home.

I'm avialable anytime to review your situation and answer any questions you may have.

Keith E. Green
(619) 726-8660
Travel@cox.net
Web Reference:  http://www.HomeInfoToday.com
0 votes
Eddie Nguyen, Agent, San Diego, CA
Tue Aug 10, 2010
Depends on your particular situation. Interest rates are on historic lows right now. There are great foreclosure opportunities still out there. If you would like to get my list of my foreclosures contact me and we can get you started to a great opportunity.

Thank you,

Eddie Nguyen ABR SRS RFS SFR
HAFA Certified
Broker – Associate
Century 21 Award
2355 Northside Drive Suite 300
San Diego, CA 92108
Cell# (619) 788-3343
Office# (619) 471-2233
Fax# (619) 471-2040

License# 01402467
Search for BANK OWNED HOMES at http://www.searchsdhomesonline.com
0 votes
Jeff Larabee, Agent, San Diego, CA
Sun Aug 1, 2010
I bought a house in San Carlos 6 months ago and couldn't be happier. Sure, I've cut back a little on some other consumer goods but my family and I love the house and the neighborhood. The lake is near, the mountain is near, parks all over the place, little neighborhood block parties, room to grow some veggies . . . all the reasons we bought the house are holding true to form. If you're itching to go and you have the finances all sorted out then the time is right for you. The market prices are as low as they're gonna fall and there are some great choices (at different price points) of houses in the area.
Web Reference:  http://www.jefflarabee.com
0 votes
Cory La Scala, Agent, San Diego, CA
Sun Aug 1, 2010
Hi John,

You've probably heard over and over that NOW is a great time to buy. Well, prices are down, and interest rates are good, but it's pretty hard to time the market, and there's not a bell that will ring when we're at the bottom, if we aren't already. What I've seen are stabilizing prices in desirable areas, and San Carlos is a desirable area, as is Del Cerro right next door (I live in the area). Sure prices have slipped some, and no one knows if they'll slip a little more more or go up. I look at it this way. If you're ready to move, and you see a house that you love, go for it. Many buyers are waiting on the sidelines asking the very same question you are. As soon as buyers hear that interest rates are going up some, or prices are going up a little, you'll have a lot more buyers competing for the same houses you'll be looking at. If you find a great house, chances are other buyers will like it too. You should buy when it's right for you to buy.
0 votes
Spirit Messi…, Agent, Tucson, AZ
Sun Aug 1, 2010
Personal preference here John, is it a good time for YOU to buy or not. You are buying in a down market and improbable you will time it perfect and get it at the absolute bottom. Are you ready to buy, money down, houses available that you like in the area you are interested in at the price YOU can live with? So many people get hung up on a house as an investment, when it is more than that. Good luck.
0 votes
Joe Rennick, Agent, San Diego, CA
Sun Aug 1, 2010
Hi John,
I live in San Carlos as well, and what a nice area to live in as you already know.
Just like everywhere else, prices are down but they are stable. Bank owned properties have not flooded the market like people thought they would - this is mainly due to government intervention. Homeowners are defaulting more than EVERY now, but banks are slow to foreclose on them. I know an owner who has been sitting in his place for over two years, and the bank has not even filed a notice of trustee sale.

Just last week, an average of 566 properties were scheduled for auction each day. The banks took 6% of them back (REOs), and only about 3% were sold to the public. The rest were postponed or cancelled. If banks had to foreclose on every single property in a timely manner then prices would free fall again. But prices would surely come back quickly again to be in line with median incomes of neighborhoods. With the second wave of mortgage resets ocurring in late 2011, we have about 3-5 more years to work through this inventory.

So with all that being said, if you're buying and planning on keeping it for at least 15 years then I would say GO FOR IT. If you're buying and planning on holding for only 5 years then I would say don't buy.

I'm a Realtor and I'm suggesting that some people don't buy? How crazy is that?

Joe Rennick
Joe@whisselrealty.com
DRE Lic #01871454
Web Reference:  http://joe.whisselrealty.com
0 votes
Steve Innis, , Clairemont Mesa West, San Diego, CA
Sun Aug 1, 2010
The answer is NOW. I go sailing with a very good friend who has been appraising since real estate was first built in San Diego. His appraisals reflect that the values are moving UP. I find his answer is more credible than an agent who wants to sell you a property, he doesn't have a dog in the race.

Real estate values are always going either up or down. During your period of home ownership it doesn't matter what the value does because your home is your domicile, not an investment, and should not be treated as one. If you remember your great grandparents and grandparents homes you might recall that they didn't move around, they bought a home with great sacrifice and lived there their entire lives. That is a core value and that is the American Dream. If you are looking for riches in real estate buy a second house after the first. Your second house is an investment.

To quote a wise old broker; "Real estate is meant to be owned, not sold".

Good luck building your portfolio and happy hunting.

Steve
0 votes
Chris Keller, Agent, Del Mar, CA
Sun Aug 1, 2010
Whether or not now is a good time to buy depends on your personal circumstances such as how long you plan to live inthe home, are you buying a personal residence or investment property, and what is your financial situation (job security, amount of savings, etc.).

Are prices going any lower? In general, I think we’re at the bottom especially in established neighborhoods such as San Carlos.

In addition, historically low interest rates will rise....it's only a matter of when!

To search all homes for sale in San Carlos on the MLS go to: http://www.queststarrealty.com/SanCarlos.ubr

Sincerely,

Chris Keller
0 votes
Vicki Inghram, Agent, Coronado, CA
Sat Jul 31, 2010
Trying to time the market is very tricky. NOW is a good time to buy! My best advice is to work with a skilled and expert Realtor someone with a proven track record and who knows the San Carlos market.
0 votes
Cheryl Hampt…, , San Diego, CA
Sat Jul 31, 2010
Hi John,
San Carlos is a good area to buy in as the market is stabilizing and starting to move up. It is an established area and desireable. If you are interested in more information I'd love to chat and answer more specific market questions that you may have. I live and work in the area.
Have a wonderful evening,
Cheryl Hampton
0 votes
Becky Bucalo, Agent, La Mesa, CA
Sat Jul 31, 2010
Now is a great time to invest in real estate. Interest rates are low and you have homes in the area to choose from. If you need listings available in the area of choice let me know. No obligation, and best of all it is free!
0 votes
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