That is a big statement. Macy’s, Target, Wal-Mart and all most other stores put their products on “After Christmas Sales”. Home Sellers in San Bruno, South San Francisco, and all over the San Francisco Bay Area have put their products on the “After Christmas Sale”
I have randomly selected two recently sold homes to use as an example.
3691 Exeter Dr., a 3BR/2Ba. San Bruno home just sold on Jan 18, 2012 for $452,000 it also sold on May 9 2003 for $600,000. That results into a 36% savings in monthly payments. Look at the numbers.
3875 Carter Drive, #106 a 2Br/2Ba. Condo in South San Francisco sold on Jan 4, 2012 doe $277,000 and in April 25, 2006 it sold for $550,000. A 59% savings. Look at the numbers.
As you look at the numbers please note the lower down payment required, and the lower property tax. Both due to the lower home price. You save all around. Numbers are deemed reliable but not guaranteed.
| 3691 | Exeter Dr. | San Bruno | 3875, #106 | Carter Dr | SSF | |
| 2012 | 2003 | Difference | 2012 | 2006 | Difference | |
| Purchase Price | $452,000 | 600,000 | 25% | 277,000 | 550,000 | 50% |
| Down Payment | 90,400 | 120,000 | 55,400 | 110,000 | ||
| Loan | 361,600 | 480,000 | 221,600 | 440,000 | ||
| Interest Rate | 4.25 | 5.75 | 4.25 | 6.5 | ||
| Principal and Int. | 1726. | 2801 | 1090 | 2781 | ||
| Property Tax @1.1% | 415 | 550 | 254 | 504 | ||
| Monthly Payment | 2140 | 3351 | 1344 | 3285 | 59% |
I selected these properties randomly. You might find savings greater or lesser. I want to point out to you by using real numbers the “Perfect Storm” has arrived; Low interest rates and low home prices. In the past if rates went down prices would go. This is an opportunity of a lifetime. If the I Pad was on sale like homes are on sale you would be on line at 4AM. For all of the potential buyers waiting for the right time, this is your wake up call. The time is right. Ken Rosen of the Fisher Center at UC Berkeley says “This is the best time to buy a home in 30 years”
Considering buying or want to learn more call your favorite Realtor or come to my Free Home Buying Seminar. Click here for more info and registration.
"It is Better To Own Real Estate and Wait, Than Wait To Own Real Estate"
