Home

Need help with a loan or refinance? (619) 717-6105

01/06/2009 16:43:39 PM

Site Navigation

Quick Links

Get Pre-qualified

The first step is to find the best San Diego mortgage for your needs. One great way to do this is to simply use the pre-qualified form to tell us the type of loan you want and let multiple San Diego lenders compete to offer you the lowest mortgage rate.











How Much to Offer

Determining your offering price can be influenced by a number of factors. Market conditions, personal factors affecting you and the seller (if known), and factors directly effecting the property and neighborhood may all play a role.

Market considerations

Market conditions broadly effect the price level of homes. These conditions are external to the property, yet greatly influence your offering price.

In a seller's market, competition for homes is high and property values may be increasing. Under these circumstances, expect to pay a premium price for the home. Listen to your agent's advice regarding what to offer. Offering full- or over full-price in a seller's market is not unusual.

Conversely, in a buyer's market, competition for homes is low and property values may be level or decreasing. Offering less than full-price is the norm under these circumstances.

In the ideal market (a market in equilibrium), demand for and supply of housing are in balance, and neither buyer nor seller is disadvantaged by market conditions.

Property-specific (internal or local) considerations

Property-specific considerations are more easily quantified compared to the market considerations discussed previously. The number of bedrooms, bathrooms, square feet, lot size, etc., are examples of these.

Prior to making your offer, you'll need to compare the home with others in the neighborhood. This is done with the aid of a Competitive Market Analysis (CMA). Your real estate agent should provide one prior to writing the offer to purchase. (A complete appraisal is normally not necessary until after your offer is accepted.) The CMA contains most of the information found in the Property Comparison form, with additional information including:

The CMA should provide a comparison of properties similar to the property you're considering purchasing. In a stable market, sold homes are the best indicators of market value. Homes for sale can be expected to set the high end of the market, and expired listings indicate prices too high for the market.