Walker Beeken

This link from Yahoo says that early 2010 could possibly be the best time of year to try and sell your home. Although the busy season in real estate is usually the spring and summer, this year there are reasons to beleive that could come earlier. Buyers need to be under contract by the end of April and close by the end of June to take advantage of tax credit, and with the possibility that interest rates could rise, there are plenty of buyers out there right now as long as you price your home realistically. I think if you’re in San Diego County and thinking about selling, and your home is worth something under about $700,000, then it’s a great time to get your home on the market and take advantage of the large buyer pool out there right now.

Early 2010 Could Be A Great Time To Put Your Home On The Market

This column from CNBC illustrates what many first time home buyers are facing in San Diego County as they try to purchase a home. They find themselves competing with investors who are buying with cash, and these cash offers are often trumping offers where a loan is involved, regardless of the purchase price offered.

I think it’s important for first time buyers to be patient with the process and realize that they may have to make offers on multiple properties before they get one accepted. The low inventory, the influx of investors with cash, and the heavy competiton from other first time home buyers are making it difficult to purchase a home. The incentives are there with the low interest rates, affordability, and the tax credit, but a good deal isn’t going to come easy.

CNBC Column Says Cash is King

Here’s an article on San Diego County median home prices being up from October of last year – the first increase from year-ago levels since June 2006. Just an interesting article overall on the on real estate market in San Diego County, which also mentions the sellers’ market in some areas at the lower price points. I’m seeing this on a daily basis with some of my first time buyer clients as there are multiple offers on most of the properties they’re interested in. Affordability and interest rates are both great, but it still isn’t easy to purchase a home.

SD County Homes Prices Up Over Last Year in October

Here’s a link to a good explanation of the 2009 first time home buyer tax credit that was just extended into 2010 and now includes current homeowners too.

First Time Home Buyer Tax Credit Extended and Expanded to Include Current Homeowners