Edwin Q. Garcia NMLS 1993846

10/20/2024

08/26/2023

Interest rates are high? No doubt! Ask me about Lender paid compensation (higher rates) versus borrower paid compensation with lower rates. I'm a broker with NEXA Mortgage with over 200 competitive lenders. I will find you the right loan you need. Contact me at anytime!

08/17/2023

Has the strength in the housing market surprised you?

The strength boils down to supply and demand. Remember back in 2007 when we faced a housing bubble? Back then, we had 4 million homes up for grabs. Fast forward to now, just a little over 1 million available.

Meanwhile, our population has grown by a staggering 34 million people! That means millions more are competing for significantly fewer homes, which pushes home prices higher.

While it’s true rising interest rates dampen demand, there are 2 million new households being formed every year and they all need a place to call home. With builders supplying only about 1.4 million new homes, there's a clear imbalance.

This imbalance is why home prices increased by 6% in 2022, defying the media headlines calling for a housing crash. And what about 2023? Reputable appreciation reports are forecasting 5 to 10% annual growth in home prices this year!

On a $500,000 home, that would mean a gain between $30,000 and $60,000 in home price appreciation alone! Don’t wait, reach out to me today to learn how to generate wealth through real estate.