If you’ve been staying updated on current events, you’ve likely stumbled upon reports discussing the rising trend of foreclosure rates in today’s housing market. This might stir up memories of the housing crash in 2008, possibly leaving you feeling concerned about what lies ahead, particularly if you experienced homeownership during that tumultuous time. However, it’s essential to understand that despite the uptick, we’re not heading towards another foreclosure crisis. Let’s delve into the latest statistics and compare them with historical data to provide a clearer picture of the situation, es ..read more

Have you ever considered sharing a home with your grandparents, parents, or other relatives? You’re in good company. Many San Diegans are now opting for multi-generational houses that bring the whole family under one roof. Let’s dive into why this living arrangement is gaining popularity and explore if it could be the perfect setup for you as well.  Why San Diegans Opt for Multi-Generational Living According to the National Association of Realtors (NAR), several compelling reasons have emerged over the past year for choosing multi-generational homes. These range from economic benefits to stro ..read more

Recent data from Fannie Mae reveals that nearly a quarter of individuals remain apprehensive about the trajectory of home prices. If you find yourself among those concerned, here’s the scoop. Much of this apprehension likely stems from media reports or online articles. However, it’s essential to remember that negative news tends to garner attention. Consequently, you might not receive the complete picture; instead, you may encounter sensationalized headlines. As elucidated by Jay Thompson, a Consultant in the Real Estate Industry: “Housing market headlines are everywhere. Many are quite sensa ..read more

Recently, the New York Times highlighted a significant issue unfolding in Colorado—surging property taxes are starting to squeeze longtime residents. The narrative unfolds as many Colorado homeowners face financial pressures unforeseen in decades past. Since the pandemic, Colorado has seen a remarkable influx of new residents, drawn by its appealing lifestyle and scenic landscapes. However, this population boom has brought with it a steep increase in property taxes, in some places by as much as 40%. For many, this spike means making the tough decision to sell their homes, as the financial burd ..read more

Today, we’re diving into the current market dynamics, especially focusing on what’s impacting our first-time home buyers and the distinct narratives unfolding across different market segments. I’m , Z. with the McT Real Estate Group here with your go-to update on the San Diego real estate scene.  First-Time Buyer Challenges: First-time home buyers, listen up! You’re facing a tough market out there. Not only are mortgage rates climbing, squeezing your budget, but the number of entry-level homes hitting the market is also dwindling. It’s becoming increasingly challenging to find that perfect s ..read more

If you’ve been keeping an eye on the news, you’ve probably come across reports suggesting that renting is currently more budget-friendly than buying a home. While this might hold true in certain areas when comparing monthly expenses, there’s a crucial element that often gets overlooked: home equity. Let’s delve into the significance of equity and why it deserves your attention as you weigh your options, especially here in San Diego. Understanding the Headlines: Housing Costs Let’s dive into the numbers. Using data from Realtor.com for rental payments and the National Association of Realtors (N ..read more

Planning on buying a home in San Diego this year? Saving up for such a significant investment involves various expenses, including your down payment and closing costs. However, leveraging your federal tax return can alleviate some of these financial burdens. According to Credit Karma, your tax refund can be valuable in covering these expenses. So, if you’re eyeing that dream home in San Diego, your tax refund might be the boost you need to make it a reality. “If one of your goals is to stop renting and buy a home, you’ll need to save up for closing costs and a down payment on the mortgage. A ..read more

In recent years, as mortgage rates soared, many San Diego homeowners hit the brakes on their relocation plans. Perhaps you found yourself in a similar predicament, hesitant to sell and face potentially higher mortgage rates for your next abode. However, is this strategy still optimal for your circumstances? In the current market landscape, there’s a growing trend among homeowners in San Diego to acclimate to prevailing mortgage rates and contemplate a change in residence. Mark Zandi, Chief Economist at Moody’s Analytics, sheds light on this evolving scenario. “Listings are up a bit as life ev ..read more

Spring is undoubtedly a prime time for selling your home in San Diego. With the real estate market favoring sellers due to limited inventory, you’re poised for success. Historically, this season sees an influx of motivated buyers, heightening competition and driving up demand. It’s an exhilarating opportunity to showcase your property and attract potential buyers. However, amidst this favorable market, it’s crucial to approach pricing strategically. Setting your asking price too high could have adverse effects in the long term. While the temptation to maximize profits may be strong, overpricin ..read more

Thinking of making a move and wondering is now a good time to sell my house in San Diego? Well, based on recent data we can confidently say that now’s the best  time to get started! According to experts, the ideal week to list your house is fast approaching. Based on a recent study by Realtor.com analyzing housing market trends (excluding 2020 due to its uniqueness), the prime window to put your house on the market this year falls between April 14th and April 20th. “Every year, one week stands out from the rest as that perfect stretch of time when it’s great to be a home seller. Th ..read more