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Encinitas Home Mortgage Rates
Nationwide Mortgage Loans offers prime home mortgage rates for refinance, second mortgages, home equity credit lines, purchase refinance loans for North County San Diego homeowners residing in Leucadia, Encinitas or Cardiff by the Sea. Southern California residents can take advantage of special incentives with low interest rates for local homeowners residing in North County.
We recommend that you examine your financing options now while the property values remain at the top of the curve. If home values decline it may become increasingly more difficult to access cash with equity lines and cash out refinance loans. |
Featured Encinitas Home for Sale 336 Andrew Ave.
Call 858-756-2444 for more information about buying or renting this beautiful beach home. |
| San Diego County home sales dropped 35.5% to 2,152 in September from 3,336 a year ago while the average price for a home sold was reduced only by 3.1% to end at $470,000 according to a recent DataQuick report from the La Jolla real estate company. Del Mar, Carlsbad and Encinitas saw stagnant home sales the last quarter, but real estate agents in the area remain optimistic about a quick turn-around for the local real estate along the coast. |
MSA Name |
County Name |
State |
One-Family |
Two-Family |
Three-Family |
Four-Family |
SAN DIEGO-CARLSBAD-SAN MARCOS,
ENCINITAS, CARDIFF,
DEL MAR |
SAN DIEGO |
CA |
$697,500 |
$892,950 |
$1,079,350 |
$1,341,350 |
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Featured Encinitas Home for Sale or Rent - 336 Andrew Ave
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Check out this recently listed coastal home in Beautiful Encinitas. The gated courtyard entry is layered with slate and flagstone, and this hand-crafted rock architecture flows into the living room with a layered stone hearth. You will enjoy the large kitchen w/ walk-in pantry including a stainless Thermador six burner range and oven, stainless sub zero refrigerator, and large island with bar seating.
Visit clotfelterhomes.com or to view this featured beautiful Encinitas home go to 336andrewave.com |
The family room extends from the kitchen and leads to the outdoor deck, overlooking the tropical backyard oasis. One bed and bath downstairs can be used for office or guests. Upstairs master includes fireplace, large walk-in closet, access to the roof top deck with ocean views and a master bath accented with limestone and marble. If you like details, you will love the impeccable wainscoting. Additional amenities include wood plank flooring, upgraded fixtures, high-end doors and windows, tankless water heater, saline pool and spa and much more. |
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This "Tommy Bahaman" style home features a beautiful custom pool with a mosaic orchid on the deep end.
The Jacuzzi spa can seat 6- 8 people and the tropical landscape will make you feel like you are in Kauai.
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North County Agent follow up with you promptly.
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By Nick Rian
 Higher interest rates are pushing some homeowners away from the home of their dreams.
An Encinitas realtor says higher interest rates have weeded out buyers and possibly shortchanged some real estate investors.
"People don't realize when the interest rate goes up one point that's a 14% increase in monthly payment," says realtor Dennis Smith. And that's a significant increase in actual payment. He's talking about Interest-Only and Negative Amortization loans commonly used in Southern California to allow homeowners to get more bang for their dollar. Those loans have variable interest rates and when those climb, monthly payments climb and the balance eats away at the homeowner's equity.
 Home sales in Encinitas have climbed from 21 homes sold in January to 40 sold in May, according to Multiple Listing Statistics. Then sales dropped to 34 at the end of the second quarter. Home prices have also plunged, down $200,000 since January.
The prime interest rate has climbed almost one point since the beginning of the year before leveling off at 8.25%. Smith thinks the rising rate has hurt the Encinitas housing market. Encinitas homeowner Caio Travasos recently asked, "With home equity and second mortgage rates dropping; Is it a good time to refinance my variable rate line of credit?" According to Lynda Nelms of Nationwide, "This is the most common question we get from local borrowers who currently have adjustable rate second mortgages."
"Most people looking in Cardiff, Leucadia or Encinitas are buying by how much they can afford per month not by the price of the property," says realtor Dennis Smith. "That knocks out the marginal buyers, the ones who are stretching to meet what they can afford."
Home Sales and Mortgage Rate Info for North County San Diego Cities |
Oceanside Mortgage Rate Update
Home values for coastal San Diego cities like Oceanside, Escondido, Vista, and San Marcos have begun to decline slightly in 2007. Oceanside and Fallbrook are reporting that home are taking 45- 60 days longet to sell than previous years. |
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Carlsbad Home Equity Rates
Beach cities like Carlsbad have not experienced too much of a home value reduction at this point, but if you have variable interest rates on your mortgage you do not want to risk waiting for any longer. Refinance your equity loans now and get a fixed interest rate. |
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La Jolla Home Equity Rates
Home values in La Jolla and Del Mar have been pretty steady, but have reduced sales prices from 4-7% in some of the pockets in UTC and condos in La Jolla. Residents in Del Mar and Pacific Beach have reported deeper drops in property values than their neighboring town of La Jolla. |
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