Is it a good time to buy.a home in Sacramento? Archives

Folsom & Sacramento HomeBuyers: It May Be the Perfect Time to Buy!

If you’ve been sitting on the sidelines, it may be the right moment to jump into the Folsom/Sacramento housing market. A shift is underway, and mortgage rates have dropped to their lowest level in 19 months, offering homebuyers an incredible opportunity to make their move.

The Best Time to Buy a Home Is Right Around the Corner

Experts at Realtor.com have identified the week of Sept. 29–Oct. 5 as the best time to buy a home in 2024. During this week, the market typically offers the perfect balance of high inventory, lower prices, and reduced competition from other homebuyers. This may be your sweet spot for getting a great deal on a home.

Mortgage Rates Hit a 19-Month Low

Recent drops in mortgage rates are making homes more affordable than they’ve been in nearly two years. Rates falling below 6.5% made August the most affordable month for housing since February.

Lower rates boost your purchasing power, allowing you to get more home for your money or lower your monthly payments.

More Homes on the Market Means More Choices for Buyers

With a 35% increase nationally in homes for sale compared to last year, you’ll have more options than ever before. Ralph McLaughlin at Realtor.com explains:

“The number of homes actively for sale continues to be elevated compared with last year and now sits at the highest since May 2020.”

This gives homebuyers more negotiating power, as sellers are motivated to move their properties in a slower market.

Ready to Make a Move? Let’s Get Started

With rates low and more homes on the market, this is the ideal time to make your move in Folsom. Let’s connect today and get started on finding your perfect home! Call Margaret today.

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For a personal Home Equity Report, visit: https://buysellhomesfolsom.com/MarketAnalysis

The Greater Sacramento area is a dynamic real estate market with many homeowners experiencing a significant boost to their financial portfolios through a remarkable surge in home equity.

As you know, real estate is a powerful avenue for wealth accumulation. Let’s delve into the phenomenon of escalating home equity and how it shapes the economic landscape of the Sacramento area.

The Sacramento Real Estate Market

The Sacramento real estate market has witnessed an impressive surge in property values, with home prices experiencing a steady climb. Home equity, the difference between a property’s market value and the outstanding mortgage balance, has become a key player in the wealth-building strategies of Sacramento residents. As property values soar, homeowners find themselves sitting on a wealth-generating asset that goes beyond the initial investment.

Why has the area experienced such an increase in property value? Our position in the greater Sacramento area is unique in that we have Bay Area and Southern California buyers looking for more affordable housing options. Other factors such as low housing inventory and a thriving economy have contributed to the region’s real estate boom, making homeownership a lucrative investment.

Check out a couple of examples of an increase in equity for local properties.

Economic Impact

The rise in home equity not only benefits individual homeowners but also has a positive ripple effect on the local economy. Increased home values contribute to a wealthier population, fostering economic growth and stability. As homeowners gain access to additional funds through home equity, they inject capital into the economy, driving local businesses and supporting community development initiatives. (Link to previous post about accessing/utilizing home equity here)

An Invitation to Learn More

Are you interested in learning more about your home’s value in today’s market? Visit https://buysellhomesfolsom.com/MarketAnalysis for a free, no-obligation market analysis. Knowledge is power!

The Takeaway

In the vibrant landscape of the Sacramento are, the surge in home equity is reshaping the financial trajectory for many homeowners. Beyond the joy of homeownership, this increase in equity is positioning Sacramento residents on the path to long-term wealth accumulation. As the real estate market continues to evolve, the prudent management of home equity becomes a strategic element in the journey toward financial prosperity.

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The Melville Group