Now is the Time to Buy

Conditions in the San Ramon, Dublin and Pleasanton real estate housing markets may not get any more favorable for buyers than they are right now.

We’re at the year-end low point for the housing market in San Ramon, Dublin and Pleasanton CA.

For the past month we have been encouraging buyers to make their move as we are in a historically favorable situation for buyers. Here are some of our thoughts for buyers:

First-Time Buyers

• Owning a home is a great investment as real estate appreciates in the long run
• Paying rent builds no equity for you
• Interest on your mortgage and mortgage insurance are tax deductible
• The equity in a home can be leveraged

When shopping for a house, first-time buyers especially need to consider additional costs in excess of the straight mortgage payment – insurance, taxes, association dues, and taxes.

The question for buyers sitting on the fence right now is – What are you waiting for?

Interest rates remain stable. In fact, as most homeowners over the age of 50 know, the current rates are darn attractive when compared to the 7.5 to 9.5 rates they’ve seen most of their lives.

Sellers are motivated – on price, on repairs, on helping the deal get done.

NOW is the time to buy. The market forecast is “flat,” meaning that conditions are beginning to stabilize. When the market is stable, the motivation of the seller is going to be based solely on the urgency of their need to move.

Waiting for More? More of What? When the market stabilizes, as it is beginning to do, sellers will feel no more pressure to reduce price based on the “correction” the market is stabilizing from. Sellers are going to lose their eagerness and willingness to cover some of the repairs and closing costs they are now willing to cover.

In general, buyers, wanting to take advantage of the current conditions in the San Ramon, Dublin and Pleasanton real estate markets, need to be thinking of getting under contract within the next 30 days.