Easier to ReFi than to ReBuy!

It’s Easier to ReFi than to ReBuy! 

Union City Detached Homes on Average Have Dropped about $300,000* (18% lower) from April to June.

Detached Home Sales on the West side of Union City
(Cambridge, Ponderosa Landing, Bay Colony, Seabreeze, Ponderosa Cove)
1/1/2022 to 4/30/2022

Detached Home Sales on the West side of Union City 

(Cambridge, Ponderosa Landing, Bay Colony, Seabreeze, Ponderosa Cove)
After 5/1/2022

This decline in home pricing, we are seeing happening in all communities!

Comparing two particular purchases this year. 

If you bought at the beginning of June in Ponderosa Landing it would have cost you $1.85M and interest rates were around 4.75% vs. if you had bought in March in Ponderosa Landing it would have cost you $2.34M when rates were about 2.75% for a 30 yr fixed. In this example, pricing is $490,000 less but interest rates rose 1.75%. The monthly mortgage cost is roughly the same ($7,499 vs. $7,642). And when interest rates drop again, the buyer today can refinance into a lower rate.

It’s easier to ReFi than to ReBuy! 

So take advantage of today’s lower home pricing, and later refinance into a lower interest rate!

Call us today if you are ready to take advantage of today’s pricing! 

510-688-0652

* Source BayEast Housing Statistics.   DRE#02094263     DRE #01173766. Sunil Sethi Real Estate.

510-688-0652