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 December 20, 2007

Low interest rates and great deals in San Diego make a nice combination
We are seeing the lowest interest rates in over 2 years for 30-year mortgages. Even though November and December are typically our slowest months for San Diego home sales we are seeing more pending sales in the last month than we have for the last three months.
There are some fabulous deals on the market right now for buyers who realize they can take advantage of the low prices and low interest rates. The lower interest rate can make a difference of several hundred dollars a month on your mortgage payment.

We recently had a buyer who purchased a home under market value with a low interest loan and when he factored in the tax deduction of owning his home, he is paying less than his rent payments. He said it is a great feeling to pay on his home rather than throwing his money away on rent.

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