Is the North San Diego Real Estate market back???

Interesting to finally see the other "truth" in real estate on TV last night. For the first time in years, I saw a program pointing out that the current real estate market isn't bad for everyone!

Well who is excited about this market? Investors and home buyers that are informed!

This week was met with a few changes, mainly the FED dropping rates another .5% and the mortgage rates going up a bit.

Overall, the lending interest rates are reaching new lows this month, which in turn is making the housing affordability index the best we have seen in many years. Combine that with a huge market correction in North San Diego Real Estate, and timing has ever been better!

Most Direct lenders like Wells Fargo, Bank Of America, etc. have moved back towards traditional banking. They are loaning their own money directly to borrowers and keeping the loans in their portfolios (meaning they don't sell them to Wall St). Many have stopped allowing mortgage brokers to sell their best loan products and are selling themselves. This makes it very tough for mortgage brokers to compete.

A HUGE, HUGE development was the Bush Stimulation package, which is proposing to raise the loan conforming rates. Right now this is set at $417,000. This eliminates much of San Diego. The new limit will be up to $732,000.

These lending changes very well can help the market turn back to what it was before!

One things is for sure, there are some GREAT deals in North San Diego, IF youknow where to look!

All the best
Marc

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For everything you need to take advantage of the current real estate market in San Diego, go to http://www.MarcVonMusser.com
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