I have had some buyers reach out to me and are all wondering the same thing. Is it too late to purchase a property?

Based on what I have been reading, I believe the current inflation problem will continue into the future for potentially some number of years. The Fed has painted itself into a corner with their extremely low interest rate policy. This country has more than $30 trillion in debt and a significant increase in interest rates will cause the Federal Government debt-service to be hampered as well as slowing down an already unsteady economy. But in order to combat inflation, interest rates generally need to rise, an option that the Fed is avoiding currently. Expect the price of everything to continue to rise, including home prices.

So you could say that there has never been a better time to purchase real estate.

Real estate is a hedge against rising prices – especially rising rents. The buyers I am currently working with are all renters here in San Diego and we are now searching for suitable properties to both put a roof over their heads and to protect them from rising housing costs.

I am an expert in working with buyers in this current low-inventory environment.

First of all, I get my buyers fully pre-underwritten. All income and asset information is approved and the Fannie Mae government computer systems have issued an “approved” status for a certain purchase price. This step has never been more important as listing agents want to see a full DU-approval before accepting an offer. I have an extensive conversation with my buyers about attributes and areas desired.

For example, I have one buyer who works from home and doesn’t mind being 30 to 40 minutes from Downtown; another buyer however, works in Mission Valley and prefers to be located no more than 20 minutes away from their workplace. So we spend a while narrowing down must-haves (such as a backyard) and desired attributes such as at least four bedrooms. I always establish a relationship with a listing agent as best I can in order to establish confidence with our offer.

If you know renters right now, have them contact me so we can start the process of moving towards home ownership in San Diego. It is not too late to purchase a property; there has never been a better time to purchase a property in my opinion. I believe within the next 10 years, property prices will have doubled again.

I had quite a few people reach out to me recently about SB9, the Jan. 1 legislation that greatly expands building two to four units on an R1 lot throughout the state and mostly eliminates single-family neighborhoods. Most of the comments I received were from “concerned” residents about the effects. This is a topic I have extensively covered over the last six months.

While most people are certainly for expanding the housing supply in California, there will be unintended consequences of this law. Neighborhoods will change with added density. Parking will become tight with the added structures and schools will become overwhelmed with the additional population. Some are saying that this will create a permanent underclass of renters in the state. While I believe some of the issues will work out, it seems that the single-family neighborhoods of California’s history will be a thing of the past, for better or for worse.

If thinking of buying or selling in San Diego, call to schedule a consultation at (858) 431-6043.

—Sarah Ward is a realtor with Fine & Coastal Real Estate.