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De Young Properties continues to see high demand for new homes!
Amid our current environment, De Young Properties is pleased to report that interest in new homes at their communities remains strong. Here are five reasons why you should consider purchasing your De Young Properties dream home now:
Interest rates have hit an all-time low, giving potential homebuyers a higher purchasing power, making it more prudent to buy a home. In March, the Federal Reserve cut interest rates, making borrowing as cheap as possible. With interest rates so low, you are not only purchasing your dream home, but you are also making a good investment and buying the rate at which you are getting the loan.
Buyers are not slowing down, don’t snooze or you may lose. The typical home buying season has definitely been altered, but that has not stopped potential homebuyers from purchasing their dream home. In April 2020, amid shelter-in-place orders throughout the country,Zillow reports that website visits were higher than where they were a year ago. Consumers have moved from traditional homebuying shopping methods to virtual or digital.
De Young Properties can attest to this shift in the homebuying process – in the months of March and April, they have experienced strong sales. RidgeView released the final phase of homeites at the end of March – all virtually – and has since almost sold out of the entire community. Additional De Young homesites at EnVision and The Highlands are selling as well.
Good news – this is not 2008. Though the 2008 recession was a scary time for all, we also have a lot of positive things that came from it – meaning, we learned a lot. The current housing market is much different than where we were in 2008. Today, even with historically low rates, property owners have pulled out less than 1/3 as many equity dollars (232 billion vs. 824 billion) as they did in the three years leading up to 2008 – a prime example of what we learned from 2008. See this FresYes blog for more.
Speak with a lending specialist at De Young Mortgage to learn about special financial programs and your buying power. A De Young Mortgage Loan Officer can assist you to find specific options available and tailor those to fit your needs. Schedule an appointment with a De Young Mortgage Loan Officer today for more information!
This is not an offer for extension of credit or the commitment to lend. All loans must satisfy company underwriting guidelines. Information is subject to change at any time and without notice.
Shop for your De Young dream home from the comfort of your couch! Through our Online New Home Specialist, virtual, private and self-service home tour appointments will allow visitors to experience our available homes and communities interactively. Our team can also assist in scheduling virtual tours to ensure a more intimate and exclusive introduction to our Model Homes.
As a local, family-owned business, the De Young team is here for you and our community during this unprecedented time. We look forward to speaking with you when you are ready to find your De Young dream home.
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