Summer Real Estate Brings the Heat!

The real estate market is reflecting the thermostat… It's hot! There are 856 active listings in Sonoma County, compared to 550 active properties for sale at this very same time last year. That's a whopping 55% increase! People who have been waiting for interest rates to drop have decided to take the plunge and make the move. Those who have are discovering it's the most financially savvy decision.

"How could it make financial sense to leave a 3% mortgage in exchange for a 7% mortgage?" you might ask. Well, with single-family homes still appreciating at a rate of 5% every year, the cost of waiting to buy greatly exceeds the extra monthly cost of a mortgage with a slightly higher interest rate.

Not to mention what will likely happen to home prices when the rates finally do drop. For every one percent drop in the interest rate, an additional FIVE MILLION more buyers enter the marketplace.

So, if you are waiting to buy or sell due to interest rates, let's just run some numbers and see: is it really in your best interest to wait on buying or selling?

Give me a call today and let’s discuss your options for getting into that next house sooner AND saving a ton of money in the process! 707-217-3745