Mortgage Rates have been on a wild ride lately and they have been coming down since late 2018. This volatility in rates has created an opportunity to capitalize on a weakening real estate market. Your mortgage interest is a crucial component to your home purchase and right now the rates are attractive. This might not be the case a year from now however, so you may want to make a call to your lender to see what you qualify for and what loan options are best for you.
If you are renting right now you probably don't like it. You are always subject to a potential rent increase every year and are forced to adhere to strict policies enforced by management companies and landlords. To make things even worse you could at any moment be given a 60 day notice by your landlord who wants to sell the property and effectively kick you out of your home at a time that may not be convenient for you. And good luck finding a good deal on a rental these days because the rental market in San Diego is very competitive. Bottom line renting sucks and owning your home is a more stable and secure financial position to be in.
The pure sellers market is over and you now have more leverage to negotiate a deal. The inventory of homes to choose from is increasing, price reductions are more common, and there a fewer multiple offer situations to contend with. These factors contribute to a more favorable environment to negotiate better terms with motivated. Bottom line you can get a better deal now that the market conditions have changed.