Real Estate Watch – Home North County Real Estate
The Election and Real Estate
The presidential election is rapidly approaching, and uncertainty in the real estate market is inevitable. It may seem strange for an election to impact your home’s value, but election years can be stressful and uneasy for many Americans. People are less likely to make large purchases, such as a house, not knowing who will be elected president. Regardless of what party wins the White House, the results will likely affect consumer confidence and the economy.
Thankfully, North San Diego County has continued to see an increase in home values since 2009, and the market is continuing with that trend. According to a www.movoto.com study of the California real estate market, “house prices typically rise 1.5 percent less during an election year,” but with interest rates still historically low, buyers are able to get more home for their money. Couple this with increasing rental rates and moderate home price growth, we should see more people take advantage of buying in 2016 making it a win-win for everyone.
Whatever the outcome of this coming election, it is important to pay close attention to the market before buying and selling. Everyone’s financial situation is different, and by working with a realtor and mortgage broker you will be in a much better position to make a sound buying or selling decision. Home North County Real Estate is here to help you, and we proudly serve our community by giving a percentage of earned commissions on closed real estate transactions to local charities of our clients’ choice!