San Francisco, CA (PRWEB) September 07, 2016
The interconnected world economy can be quite frightening. The Brexit vote had a global impact. And with many economies still struggling, many are left to wonder if mortgage interest rates will be going up or coming down? Have housing values gone as high as they can? Will property values come down in the near future?
Unfortunately, there is no way to predict the future. Therefore, when buying a home, consider why the thought of buying a home in the first place appeals. For one, a place to live is needed. In high rent areas like San Francisco, it can be more expensive to rent a home rather than buy, especially when the tax savings from the mortgage interest deduction is taken into account. So in the short term, there's a place to live, and less money is being spent.
When it comes to the mid-to-long-term range, consider the potential of a home as an investment vehicle. As property values go up substantial gains on the initial property investment can be had. Of course, values don't go upward forever. Even the city has had downturns before, and will have again. The safest bet is to buy a home that is likely to suffice for the next 5 to 7 years minimum. That way if there is a downturn it can be ridden out in comfort. The market may provide opportunities to sell in sooner than 5 years, but it's best to be prepared for a longer haul if circumstances require it.
Remember the factors affecting interest rates and home values can't be controlled, but the best decision for an individual situation can be made. An experienced realtor is an invaluable asset in this endeavour!
About the company:
Tim Gullicksen has been a top-producing real estate agent since he first entered into the business and takes great pride in managing every aspect of each transaction. After graduating from high school in the South Bay, Tim earned a bachelor’s degree in political science and history from the University of California-Berkeley. He went on to earn his teaching credentials from JFK University in Orinda and taught kindergarten in the San Jose Unified School District. He brings an educational approach to real estate developed from that background and sees himself as a facilitator of property transactions. For more information, visit his website at http://www.timgullicksensf.com/.