What Does The Fed Short Term Rate Hike Mean for the San Diego Real Estate Market?

I hope you’re doing well. Today is June 15, 2022 and The Federal Reserve came out with big news, it was a big shock. They increased their short-term interest rate by .75% This is a pretty big increase. The last time they increased it this much was 28 years ago. So this is definitely going to impact the mortgage interest rates and definitely going to make a little fear in the market. Whenever there’s fear buyers, they just want to wait and see what happens. But I want to encourage savvy buyers to just go out and look at homes.

We have a lot more homes on the market. There are beautiful homes right now and I’m noticing a lot of buyers are missing out on them because they’re not going out to look at them. So you should be going and looking at them and making a good offer and you may be able to get a very good deal and the house of your dreams. You were not able to do this a couple of months ago. So if you lost on bidding wars a couple of months ago just know the market has changed. You definitely can go out there again and find a house you really want. It was a very tough market and I personally did not like the market. I think it was an unfair market to a lot of buyers. A lot of investors were able to grab those homes and pay a much higher price and offer cash and a lot of people are not in that position. So I encourage you to go out there and look.

If you’re a seller you’ve got enough appreciation in your house and you’re not going to get much more appreciation as fast as you got in the last two years. The pandemic was a very different time and I congratulate you for getting that. Over the pandemic in San Diego we had a close to 40% appreciation. That’s pretty amazing. So if you are in a position to downsize or move out of state this is a time for you. So don’t wait any longer because the market is not as hot as before. It’s very important you talk to a professional who knows your market really well to price your house correctly. The pricing is becoming more and more important in today’s market.

If I can help you with selling your house at the top dollar in today’s market, and I love challenges, so this is going to be a tough market it is not going to be an easy market, but I love a tough market. I’ve gone through it before and I know I can definitely help you out. Feel free to give me a call you can call me at (858) 345-0685.

Thanks so much for watching and I look forward to hearing from you soon.

What is your home worth? click here.

Homes for sale in Carmel Valley click here.

Shirin Rezania Ramos | 858.345.0685 | www.shirinramos.com | Compass, DRE 0203379

Next Post

Market Update - Carmel Valley, San Diego, 92130 June 16, 2022

Fri Jun 17 , 2022
I want to tell you a little bit about how the market has been here in Carmel Valley, San Diego. Zip code 92130. We are seeing more homes on the […]

Shirin Rezania Ramos, Realtor®