Rates and Realtors

The economy continues to be characterized by both encouraging signs and reasons for pause. Interest rates remain on the uptrend and are likely to continue for the near term as Treasury rates respond to ongoing strength in the underlying economic data. At the same time, new home sales and new residential construction give reasons for hope that home sales will continue to help bolster the overall economy. In addition, the backbone of economic growth—consumer spending—continues to show strength despite many headwinds that suggested retail sales would have begun to slow by now. These are all signs that the Fed may be closer to achieving its soft landing, but the leading index suggests that we should remain cautious in our outlook.

Thinking about buying a home in California right now?

Whether or not you should buy a home in California right now depends on a number of factors, including your financial situation, your needs, and your long-term plans.

One of the most important factors to consider is your financial situation. Can you afford the down payment, closing costs, and monthly mortgage payments? Do you have enough money saved for emergencies? How much is your rent versus your new PITI mortgage payment? Do you need more tax deductions?

Another important factor to consider is your needs. How many bedrooms and bathrooms do you need? Do you need a yard or a garage? Do you want to live in a specific area?

Finally, you need to consider your long-term plans. Do you plan on staying in California long-term? If not, you may want to rent instead of buying.

There is no easy answer to the question of whether or not you should buy a home in California right now. It depends on your individual circumstances. If you are financially prepared and you know what you want, then buying a home in California can be a great investment. However, if you are not sure if you are ready to buy, it may be better to rent for a while.

If you want to look at homes and run the numbers and see what makes the most dollars and sense, give me a call at 707-258-0271 for a free real estate consultation.

Down payment assistance is available to qualified buyers.