Mortgage rates are presently at historic lows, so that buyers begin to build equity right after they close escrow. This means that there is a little bit of flexibility in which to absorb the occasional up or down as the housing market, which is still in recovery mode, begins to take hold.
More homes are move in ready. Many home owners are continuing to spend money on maintaining and repairing their houses, and those who have been sitting back, waiting to put their homes on the market, managed to keep their houses in good condition while they were waiting. As these homes begin to come on the market, they proved a dramatic contrast to the often run-down distressed properties, such as foreclosures. These distressed properties are finally beginning to clear the market, and this provides a great break that many owners of more sought-after properties have been hoping for, so that they may offer their homes for sale.
Appraisal guidelines have now been modified, which allows appraisers to place values on homes that are reflective of the present housing market. This helps today's transactions make it through close of escrow.
Search San Diego Foreclosures
