by Scott Murphy
It should come as no surprise to any of us that as of November 2015 La Costa real estate has taken a jump over the past twelve months.
We recently reported in our sister site for Carlsbad Real Estate, www.sandiegopreviews.com, the following information for La Costa’s 92009 zip code. Our November 2015 La Costa real estate report shows both prices and inventory levels on the increase. This is a mixed blessing for buyers, but may indicate more bargaining power going forward.
Prices for both homes and condos rose substantially as the number of listings, pendings and sold rose year-over-year. Are we headed to a more “normal” market? Will Janet Yellen raise interest rates next month? What effect do you think these factors might have on our Carlsbad real estate market?
Most people might assume that if mortgage interest rates go up that fewer buyers will be able to qualify for one of our high-priced San Diego homes.n On the other hand, there’s a lot of pent-up demand and rents have skyrocketed in recent years. A quarter point hike probably might equate to an approximate and additional $70 increase in payments on a $500,000 30-year mortgage. That amount would obviously go down on a lower mortgage–or up on a higher one.
Still, if you look at rental increases that would be a very modest increase in rent year over year. We have seen rental rates rising much more briskly than in previous years.
Check out the infograph below!
If you have questions about financing, please feel free to call Jenny Nguyen with WJ Bradley Mortgage Capital in La Jolla. She can be reached at 858-877-8008 or 858-799-0747. Her email is jenny.nguyen@wjbradley.com. And if you have any questions about homes, real estate or market conditions, give me a call/text at 760-613-6190 or email scott@sandiegopreviews.com
