The San Diego Real Estate Market is ON FIRE. This is great for home-sellers, but also great news for Homeowners… Click here to see how much home values in San Diego County have gone up in the past year.
The last two years have been tough. So many emails and calls from people who want to refinance their homes, but can’t because they didn’t have enough equity. With a 20% increase in real estate values in San Diego County over the past year, this is good news for home-sellers AND homeowners.
A few ways to take advantage of the red-hot San Diego Real Estate Market if you are a homeowner:
#1 – Short Sale with less damage. You may have been underwater on your home by $200,000 this time last year, but perhaps now it’s only $50,000. If there are going to be tax or recourse consequences you have to face, they are now lower than they have been in years! That’s one way to take advantage.
#2 – No more waiting for Harp 3.0. If you tried to refinance last year at this time and couldn’t because your home value wasn’t high enough or you didn’t have enough equity, there’s a good chance you do now!
#3 – Get rid of your PMI. Maybe you already refinanced or bought your home with a great interest rate, but didn’t have a 20% down payment, so you’re paying mortgage insurance every month. With values up so sharply in the past year, it’s likely you have enough equity to refinance now and get rid of your PMI.
Contact Jon Jerotz, San Diego Mortgage Expert, at 760.522.2298 to get details on how much you can save. You can also use this article from the UT to get a feel for how much values have gone up in the past year. Absolutely nuts!