Real estate Guide
Real Estate Tips for Veterans & Active Military By Michelle Muniz www.sdsellhome.com
Affordable Neighborhoods in San Diego County As mortgage interest rates continue to climb, pricing families out of the market, you may be wondering when home prices and rents will start coming down. You may be waiting awhile! According to Zillow, the average San Diego County home value is $896,653, up 1.4 percent over the past year. At a rate of 7 percent with a 20% down payment financed over 30 years, this equates to approximately $6,000/month for the average VA homebuyer! With BAH ranging between $2,730-$5,286 per month, even the highest-ranking officer will have difficulty navigating this market! Sadly, home prices are not expected to decrease anytime soon. As housing inventory remains historically low, home prices in San Diego continue to increase. And, if interest rates go down in 2024, we may find ourselves caught up in bidding wars again, further exacerbating housing unaffordability.
If you are in the market to buy a home, perhaps the best strategy is to find a home you can afford at current interest rates and start on the path of gaining equity as opposed to waiting on the sidelines and trying to predict what the future may hold. In this way, you can lock in your monthly housing expense at a fixed rate. If rates go up, you made a great decision! If they go down, you’ll have the ability to refinance. Here are some of the most affordable neighborhoods in San Diego County to consider: 1. East County 2. Ramona 3. Mira Mesa 4. South I-15 Corridor 5. College Area
For more information on buying or selling a home, contact Michelle Muniz at (619) 214-0131 or email at michelle@jmxinvestments.com
www.sdsellhome.com michelle@jmxinvestments.com
34 WWW.SanDiegoVeteransMagazine.com / November 2023
6. Linda Vista 7. National City 8. Chula Vista 9. San Ysidro