Time to Buy in Solano County????

It’s a buyer’s market for sure! Many Buyers, however, are playing “the waiting game”, believing that prices will drop in Northern CA (and specifcally in Solano County)

THE COST OF WAITING

While it’s true that in certain areas the prices are still dropping, there are some areas stabilizing and in a few areas where prices have hit bottom, where prices are actually increasing. The interest rates seem to be holding steady for the moment but are expected to increase by early next year. A 6-month mortgage history shows the rate steadily increasing (go to Bankrate.com or MortgageNewsDaily.com for more info).

So, Why Buy Now While Interest Rates Are Low? Well a 1/2 point increase on a 30 year loan based on the average home price in solano county could mean as much as $40,000 in additional interest paid over the life of the loan.

While none of us have a crystal ball as to what will happen in Fairfield, Vacaville, Dixon and the other areas of Solano County, one thing is for sure - over the long term, Real Estate is still the best and most secure investment in the US.