So much for committing to
do a post a week. It's been a busy
spring with real estate sales, then a vacation to Northern Europe, then a home remodel. So
what's next?
Interest rates were down, then they were up and then they are down again. Not down as far as they were but down from their recent high.
Property sales were crazy while interest rates were at their all time low but first time buyers had little chance of getting into their first home because of all of the competition. Property prices were increasing and multiple offers on homes were the norm. In one case, a Sonoma County home, had 23 offers. If that wasn't bad enough, if you were counting on taking advantage of the low interest rates you then had to compete with the "all cash" investor that knocked you out of deal.
It can be very discouraging when you visit multiple properties, put offers in, and then get knocked out of the deal because someone has put in an over inflated offer or they've come in with all cash.
But - some first time buyers did get find a property and did get their first home closed and with good interest rates. Persistence pays off.
The craziness seems to have slowed down a little and interest rates are still low compared to where they were a number of years ago. Is it a good time to buy? I don't know, but I think it is. On an overall scale - prices will continue to increase and there is a comfort in owning a home.
I think properties in Santa Rosa, are comparatively, a good deal. Santa Rosa is also a great town with all of the amenities. It might be worth taking a look.
Interest rates were down, then they were up and then they are down again. Not down as far as they were but down from their recent high.
Property sales were crazy while interest rates were at their all time low but first time buyers had little chance of getting into their first home because of all of the competition. Property prices were increasing and multiple offers on homes were the norm. In one case, a Sonoma County home, had 23 offers. If that wasn't bad enough, if you were counting on taking advantage of the low interest rates you then had to compete with the "all cash" investor that knocked you out of deal.
It can be very discouraging when you visit multiple properties, put offers in, and then get knocked out of the deal because someone has put in an over inflated offer or they've come in with all cash.
But - some first time buyers did get find a property and did get their first home closed and with good interest rates. Persistence pays off.
 |
| This home just came on the market in Santa Rosa, 1975 sq ft $349K |
I think properties in Santa Rosa, are comparatively, a good deal. Santa Rosa is also a great town with all of the amenities. It might be worth taking a look.
No comments:
Post a Comment