Buying San Diego Real Estate
San Diego Real Estate – Affordability Caused By Declining Inventory of Single Family Homes Seems to be Decreasing
November 19th, 2009 categories: Buying San Diego Real Estate, San Diego Real Estate, San Diego Real Estate News, Selling San Diego Real Estate
With fewer homes with equity coming to market and the increasing numbers of buyers vying for the more limited inventory, there are few choices left for the family on even a reasonable budget. Federal Tax credits for First Time Buyers and move -up buyers within a specific income threshold has increased the competition for affordable housing. With prices for an average per square foot dwelling now heading into the $300 per foot range, the lack of inventory coupled with the increased demand is reducing affordability.
I have seen availability coupled with affordability drop, seemingly to close out the family even with a fair amount of income if they need to occupy the property in a reasonable time frame ( most short sale purchases can be several months off if lender approved). The numbers of Buyers for more moderate priced homes has mushroomed and this week alone I have viewed many properties through much of the lower half of San Diego County and touching into the upper half up of the county to the $400,000 level for just such a family. Many short sales have no acceptable occupancy time line and the corporate REO’s have limited financing due to the 90 day FHA flipping rule.
The market has heated up very quickly since the extension and expansion of the Federal Tax Credit for first time and for move-up Buyers in the moderately priced home range. The housing supply is dwindling and the current limited inventory in many cases is going into overbid with multiple offers..
Market conditions seem to indicate that the more affordable single family housing is to be found more inland and anything that is priced well and market ready within 20 to 25 minutes of the coast is getting a lot of Buyer showings and multiple offers within days of bringing the property to market.
Affordability as cited by the economic predictions usually deals with statistics based in medians and averages. I am not dealing with statistics but rather real families with real housing needs. Day after day searches bring me to the conclusion that housing affordability has waned and the price of property is increasing as affordability based on lower inventory are declining.
Please Note: This is real life and I didn’t bother to check to see how my empirical evidence aligns with the actual statistics since my clients are suffering through the real life situation and statistical numbers don’t mean much to them in trying to find a property they can call home.
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Federal Home Buyer Tax Credit Extended and Enhanced
November 14th, 2009 categories: Buying San Diego Real Estate, San Diego Real Estate, San Diego Real Estate News, San Diego Relocation, Selling San Diego Real Estate
Federal Home Buyer Tax Credit Extended and Enhanced.
If you are Buying, Selling or Relocating to San Diego and need help from a professional REALTOR®, give me a call or visit my San Diego Real Estate website and sign up for Listing alerts for your favorite San Diego Home and Condominium Property Searches.
I specialize in Single Family Homes and Condominiums throughout the coast and inland areas of San Diego. Some of those communities are La Jolla, University Town Center, Bay Park, Mission Valley, Pacific Beach, Scripts Ranch, Poway, Carmel Mountain Ranch, Rancho Bernardo, Rancho
Penasquitos,Carmel Valley and Solona Beach. If I didn’t mention a city or community that you are interested in, just let me know and i will find you an expert for that community as well.
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San Diego Real Estate …. WOW!…Wireless Discount Coupons with new iPhone App…. YOWZA!!
September 3rd, 2009 categories: Buying San Diego Real Estate, Local San Diego News You Can Use, William's Life in San Diego Musings
San Diego Real Estate …. WOW!…Wireless Discount Coupons with new iPhone App…. YOWZA!!
Wireless is in, paper is out. Even for those that like to clip coupons to their favorite restaurants or department stores. With competition heating up, having access to coupons on your cell phone will make it really easy. Remember to take your phone with you and forget the paper coupon.
Well,that is how it is for some businesses already and there will be growing encouragement on retailers to be sure to add their coupons online as well as running those coupons in newspapers and mailers and making them available to access right on your phone.
The software app was developed by Yowsa and can be downloaded now for iPhone users. Perhaps there will be other platforms in the near future but for now, iPhone is the place. When I have asked people what kind of phone they have and they answer other than the iPhone, I always chuckle and say , “Gee that’s too bad”. The truth is though that I am sure all phones with data plans will eventually have these type of apps. When you think about it, clipping coupons is not always convenient and most often, even when you have a coupon, you forget to take it, at least I do. Read the rest of this entry »
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Spring Fresh with It’s New Promises
April 14th, 2009 categories: Buying San Diego Real Estate, Local San Diego News You Can Use, San Diego Mortgage Banks and Loans Info, San Diego Real Estate, William's Life in San Diego Musings
On March 21st of each year, Spring officially begins on our calendar. In Nature, the cycle for Spring begins when the Morning Dove seeks a place with her mate for life to lay her eggs. But Spring is not just a time for new, there is work to be done. They fly around looking for the essentials to take to their special place and they begin to build. They labor and build the nest re-enforcing with twigs and grasses for mother and dad to begin their process. They never loose sight of their goal to bring forth new into the world. They guard and team effort to be sure that their new lives they together brought forth have every chance for survival they can give them.
Spring brings a new vitality and a richness in the day for our new beginnings. The seedlings struggle and push their way through the earth to catch the glimmer and the light of the new sun, transferring that energy into rapid growth that will bear the fruits and the flowers.
We begin those tasks that will bring about another new year of change. As the plants and birds and other animals know, it is not a time of just passiveness. Before babies are born and the flowers and fruit mature to their full beauty, a life producing energy of work has to take place. Read the rest of this entry »
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Advice For The Home Buyers: Begin with the End Picture In Mind
March 3rd, 2009 categories: Buying San Diego Real Estate, Investing in San Diego Real Estate, Local San Diego News You Can Use, San Diego Mortgage Banks and Loans Info, San Diego Real Estate, Selling San Diego Real Estate
I think all too often, Buyers and Sellers are most often disappointed when they have no clear end picture in mind. What I mean by this is that unless you know what you want and have considered your options carefully and realistically , how do know that what you are seeking is going to lead to the correct or desired conclusion.
I have had buyers tell me that they would like a 3 bedroom home with 2 car garage, it has to have at least 2 full baths and big yard. And when I ask where in San Diego they would like for me to look for that home, I get a rather large area of numerous communities that they want to consider based on some criteria of which they seem not very clear. What this tells me is that the Buyer has yet to put their desired home in the context of an actual place where such a home might exist. In particular, the budgets that are often relayed as fixed also have not correlation to the locations discussed. Read the rest of this entry »
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