June turned out to be a good month over all in the Oceanside Real Estate market. Currently there are 465 re-sale homes on the market but more importantly, we closed 122 which is up by 22% over the past several months! We still are predominantly in the distressed sales arena with 58% of the available homes requiring short sale approval. The balance is REO homes and traditional sales.

With interest rates still under 5%, it just makes sense to go ahead and buy. You will see mixed messages out there about the market. More analyst than not are saying we are still in for some devaluation. Please understand that when they speak, they are speaking about the nation as a whole and not the San Diego specific market place. Here is the reality: Even if prices in our area where to fall another 10%, locking in your future with an interest rate as low as we have available really makes that 10% insignificant. There is no doubt in my mind that we will see interest rates start to rise at the end of this year. It may be a very short time when rates return to 7-8% which by the way, is still considered a phenomenal rate. That type of increase however will significantly impact affordability. 5-10 years from now, I guarantee that you will be glad you took advantage of the low rates.