Buy This Oceana Retirement Home with a Reverse Mortgage (HECM)

This one bedroom, one bath home in the Oceana retirement community in Oceanside, CA is priced at an amazing $79,500.  And although this is a very good price, watch how purchasing this Oceanside home with a HECM (Reverse Mortgage) loan can make your retirement even better.  Let’s see how a Reverse Mortgage works.

How A Reverse Mortgage Purchase Works

In our example a couple who are both older than 62 years of age (he’s 66 and she’s 62) have decided that their current home is simply too big, and that buying this simple one bedroom home in a planned senior community wouldeft  be just right for them.  So they sell their home in Oceanside and have $120,000 from the sale to invest in a new property.   Since neither of them work any more, and their disposable income comes primarily from Social Security, they would like to preserve as much of the $120,000 as possible to use a backup.  Sure, they could just pay cash of $79,500, leaving them with approximately $40,000, but what if they could buy the home, never make a house payment, and instead have about $75,000 in reserve? Well you’ve asked a great question, and our Oceanside team of real estate specialists would like to help.

A Reverse Mortgage HECM purchase is a government backed loan that allows a senior (62+ years of age) to buy a home with the assistance of the loan, and never have to make another house payment as long as they live in the home.  In this case, with the youngest senior being 62 years of age, the government will pay approximately 58% of the home’s price, or in this case about $46.000.   The senior buyer only has to contribute a portion of the sales price, which in this case would be approximately $33,000.   The result….they get to keep more of the profit from the sale of their current home, and they have more money to use as they wish going into the future.

Want to see this Oceana senior home? We’ll be happy to answer your questions, show you this home, or others like it in the Oceanside area, or just sit down and further explain how Reverse Mortgage (HECM) home purchases might be just right for you.  We are reverse mortgage specialists and certified SRES (Senior Real Estate Specialists).

And thanks for reading, educating yourself, and allowing us to help you solve the real estate puzzle .

Overview of Oceanside CA Home Prices Reveals…….

The trend now is pretty clear.  Home prices for the Oceanside area have trended to a virtual pause.  That is, the housing market here in Oceanside is now very, very stable.  Prices and inventory of homes have not changed much in the past two months, and while buyers still benefit from the historically low interest rates that are available, there seems to be no trend toward prices falling any further.

The graph above (click on it to see it better) indicates that the home prices in Oceanside have truly stabilized, and while they are moving upward, they are doing so in a very slow and measured pace.

Oceanside’s Top Real Estate firm can help you buy or sell your home

Don Reedy and the Prudential California Realty team of experts are once again J.D. Powers and Associates best value for real estate in North San Diego County.  Enjoy reading about homes and other ideas here, and then when you want to see a home, or find out how to get the most for your home, give us a call.

Summer is here. What’s happening to Oceanside home prices?

If you click on the picture above you’ll see that the trend is stable, with some potential for a downward shift in prices.  What makes this clear is that the average price of an Oceanside home has remained stable at $359,900, while at the same time the inventory of homes on the market has increased.  Check out the chart below.

You will see that the number of homes for sale in Oceanside during the past 7 days has increased about 10% over what it has been averaging for the 90-day period coinciding with it.  If home prices were up, I’d say that was a good thing for Oceanside home prices; a sign that home valuations were solid.  But that’s not the case.  It looks as if the market is soft, and this is at a time of year (summer) when prices typically bound up.

It’s a good time to list your home for sale in Oceanside

No, I’m not crazy.  Even though home prices are stable, if your home is a great home, and you are willing to do what it takes to price your home correctly, and stage your home correctly, then the lowest interest rates in perhaps the last thirty years will help you sell now.

It’s a great time to buy a home in Oceanside

Is it possible that home prices will drop further?  Sure, but IMO not likely.  What is more likely is that prices will stay the same, and now, with an increasing number of Oceanside homes for sale, you will be able to find just the right home at just the right price.  And….the best mortgage rates you’ll ever see.

Thinking of buying or selling.  Call me today to talk and learn more.

Fire Mountain Oceanside CA

History of Fire Mountain

Fire Mountain takes its name from Indian lore.  It seems that many years ago Indians occupied this area, and if you look at the map, you’ll see Eternal Hill Cemetery.  There is a rock formation and hill located there, where it is believed that fires lit by the Indians could be seen for many miles, and thus the name Fire Mountain came to be.

Homes in the Fire Mountain Area of Oceanside

This is one of Oceanside, California’s most beautiful areas.  Homes here are set in the hills, many with views, and all enjoying the Pacific Ocean breezes from just west in Oceanside.  Nestled between El Camino Real on the east, and the Pacific on the west, you’ll want to check out the homes here if you want some of the best that Oceanside homes can provide you.

Don’t just look on your own, though.  If you want to get as much information as possible about buying a home in Fire Mountain, then Don Reedy is the Realtor you want. Don is a member of the Oceanside Chamber of Commerce, lives locally, and is part of one of the best real estate organizations in North County, Prudential  California Realty.  Take a moment to learn more about this real estate pro, and then click below to check out some of the homes for sale in Fire Mountain.

Click here to see Homes for Sale in Fire Mountain

Oceana Senior Community Oceanside CA

Click here for Oceana Homes for Sale

If you have been looking for a 55+ senior community in the Oceanside CA area, then Oceana may well be just the right choice for you.  Located conveniently off of El Camino Real just miles from the beaches of downtown Oceanside, this community of active seniors provides living choices and homes at prices that are as affordable as can be. Don’t wait one more minute to learn about how you can buy a home in this Oceanside 55+ community from Don Reedy of Prudential California Realty. Don and his wife have a home in the Oceana senior community, and will be happy to share information or answer questions for you.

The picture above is from the Oceana Community web site (managed by members of the community).  You can click on it to see some of the great activities this Oceanside senior community offers.

Or, just Click Here to learn more about Oceana Senior Community.

Want to see some homes?

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