6 Reasons Now Is A Great Time To Buy: Stockton, CA

Dated: May 5 2020

Views: 247

Is it time for you to jump back into the real estate market? Specifically, are you looking to buy in Stockton, CA, or in the surrounding areas? If so, then you might want to look at the 6 reasons now is a great time to buy: Stockton, CA.

I was listening to a podcast the other day, which shocked me when I heard the statistics. That was that six out of ten people had lost their homes during the bubble burst, which had not gotten back into a home. That only 4 out of 10 that got back into homes. That shows why now is a really strong time for you to get back into the real estate market.

It’s important to note that the last recession was in 2007. The recovery started in 2009 and has been going strong even with the pandemic.

For those that are not in the know, you’ll want to take a look at one of these six reasons why now is a great time for buying.

  1. Sales
  2. Days on the market.
  3. Inventory.
  4. Mortgage rates.
  5. FICO score.
  6. Rental cost.

First, Sales

If you’ve been watching the news, sales are up. The housing inventory may be down, but there is a lot of activity in terms of home purchases and home prices are on their way up. If you don’t have any credit issues or mortgage problems then now is a great time to purchase your first property.

Second, Days On The Market

If you’ve been looking for a home, it will be tough to find one that is on the market. Inventory has dropped and buyers are scrambling for what little is available. And multiple offers are more common. In fact, they are now the norm. So, if you are serious about buying a home. Be prepared to compete with several other buyers.

Third, Inventory

Inventory continues to remain low. As new listings have not been coming onto the market. And builders have been dealing with an ever-increasing lumber cost and lack of workforce. So, with many builders halting construction and focusing on the homes they have already started. The supply of new inventory could continue to be low for many months to come.

Fourth, Mortgage Rates

Interest rates continue to stay at historically low levels. Making it more affordable now to purchase your home than almost in time in history. Low interest rates would mean a lower payment for the same house or a bigger house for the same payment. It's all up to you.

Fifth, FICO Score

Indicates your ability to repay a loan. A lower FICO score will get you a better interest rate and terms for your home mortgage. Better interest and terms mean a lower mortgage payment. As well as, better insurance rates, cheaper interest on your credit cards, more options when buying anything on credit.

And Finally, Number Six, Rent

If you are currently renting an apartment or single-family home in an area with high demand and low inventory then it may make sense for you to purchase now rather than waiting until prices rise even higher and interest rates rise, which they inevitably will. And if you are paying rent today, from what I have seen in most cases, you could actually be buying Your Perfect Home today with the money you are spending on rent. And if it does cost you a little more today, in the future your mortgage payment will still be the same. You can't say that about your rent.

So, in conclusion, with all things being said, now is a great time to begin your journey towards homeownership. Should you have any questions about anything that I have gone over here today. You can call me at 209-528-5158.

Today you go out and be the sunshine in somebody’s rainy day. And of course, the most important thing you can always remember is to “C. Ray To Find Your Perfect Home!”

Thanks for stopping in.

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C. Ray Brower

C. Ray Brower is a man of many hats and talents. He enjoys golfing, traveling, wine tasting, great food on his days off, hiking in the mountains with his wife (who he loves to spoil), and watching TV ....

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