San Diego Real Estate News
2013 Projections for the San Diego real Estate Market
March 4th, 2013 categories: Local San Diego News You Can Use, Market and Forecast Updates For San Diego, San Diego Real Estate, San Diego Real Estate News, San Diego Relocation, Selling San Diego Real Estate
I think much has been said or implied that the real estate market recovery is underway. If that is so and it does seem that way at the moment, perhaps there are some projections or a forecast as to what can be expected in 2013. With many many market reports that show the trend lines to decreasing inventory and slight increases in property prices in certain market areas, it would be wrong in my judgment to draw more inference from them than what has already been shown.
With no crystal ball to predict the future, there are some economic indicators that point to more difficulties ahead with the fiscal cliff clearly in front of us. In my estimation, even if there is a temporary solution, the federal deficit looms even larger and there seems to be no consensus about the biggest items in the budget, the entitlements.
The mortgage interest deduction which has always been sacred also appears to be on the table in the continuing negotiations to avoid the fiscal cliff. There are varying opinions on what the effects could be if the mortgage interest deduction is tampered with. Because once that is opened up to some of the considered or proposed changes, thinking that will be it as far a changes goes, usually proves to be a wrong judgment. It will likely be tampered with again and again until it basically would disappear or with such limits imposed that it could still have a profound effects on real estate markets.
We have seen a clear draw down of inventory. What parts of the inventory? The homes that have been remodeled, upgraded and show very well and also the entry level homes that have been picked up for cash by the investors. So what about the rest of the inventory? Some of it at least seems to be being passed up by Buyers or offered on with much lower prices and either rejected by the Sellers in hopes of a better offer, or these homes just remain on the market and are chasing the market instead of leading it.
The Mortgage Relief Act is also expiring at the end of the year and if there is no consensus, some short sale sellers could find themselves in a world of hurt. Not to worry everyone says, this will be extended. OK, so then so lets not worry about it.
In past years I have always been optimistic and I have decided to remain so. After all, interest rates are ridiculously low, prices seem to be increasing, inventory is selling, so what’s to worry about. Perhaps that will be my projection. “Don’t worry about it”. It will all work out for the best. Who’s Best? I suppose the best answer will be, “It depends on Who’s asking”. For those of us living in San Diego and for those that will make their way here, what won’t change is the awesome beauty of our coastline and the great weather in the city where “Happy Happens”. As for the rest of the concerns, “Don’t worry about it”.
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November 15th, 2012 categories: Local San Diego News You Can Use, San Diego Real Estate, San Diego Real Estate News
Five Star Professional
Research that Recognizes Outstanding Service Professionals
William Johnson
RE/MAX Associiates
We are pleased to inform you that you have been named a 2013 Five Star Real Estate Agent. Congratulations on reaching a level of excellence achieved by fewer than 7 percent of the real estate agents in your area.
Your selection is the result of a rigorous research process that included a regulatory and consumer complaint review, and an evaluation of objective criteria associated with real estate agents who provide quality services to their clients. In the end, you are being recognized by the largest and most widely published real estate agent award program in North America.
As a 2013 Five Star Real Estate Agent, you are receiving an honor that reflects your hard work and dedication. We look forward to working with you to share your good news.
Sincerely,
Five Star Professional
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November 1st, 2012 categories: San Diego Mortgage Banks and Loans Info, San Diego Real Estate, San Diego Real Estate News
The California Sun Shines for Homeowners
Courtesy of the San Francisco Chronicle
Principal relief for stressed homeowners
A limited number of underwater homeowners in California will soon be able to get principal reductions of up to $100,000 apiece on Fannie Mae and Freddie Mac loans through the federally funded Keep Your Home California program.
Making sense of the story
- Although the federal agency that oversees Fannie and Freddie had previously refused to allow permanent principal reduction on loans they own or guarantee, in mid-September, the Federal Housing Finance Agency told servicers they could immediately begin accepting money for principal reductions from programs financed by the U.S. Treasury’s Hardest Hit Fund, including Keep Your Home California.
- The California Housing Finance Agency set up four programs under the Keep Your Home name to distribute California’s Share of the funds — $1.9 billion. It allocated $772 million to principal reduction – enough to help an estimated 9,000 borrowers.
- To qualify for the principal reduction in California, homeowners must live in the home, owe more than it is worth, be of low-to-moderate income, and be delinquent or have some hardship that puts them in imminent risk of default.
- The balance on the first mortgage cannot exceed $729,750. Other rules apply, but there is no asset limitation. The maximum reduction is $100,000 per homeowner.
- For more information on the Keep Your Home programs, visit http://keepyourhomecalifornia.org/. Read the full story
http://www.sfgate.com/business/networth/article/Principal-relief-for-stressed-homeowners- 3986774.php
The California Sun Shines for Homeowners
Courtesy of the San Francisco Chronicle
Principal relief for stressed homeowners
A limited number of underwater homeowners in California will soon be able to get principal reductions of up to $100,000 apiece on Fannie Mae and Freddie Mac loans through the federally funded Keep Your Home California program.
Making sense of the story
- Although the federal agency that oversees Fannie and Freddie had previously refused to allow permanent principal reduction on loans they own or guarantee, in mid-September, the Federal Housing Finance Agency told servicers they could immediately begin accepting money for principal reductions from programs financed by the U.S. Treasury’s Hardest Hit Fund, including Keep Your Home California.
- The California Housing Finance Agency set up four programs under the Keep Your Home name to distribute California’s Share of the funds — $1.9 billion. It allocated $772 million to principal reduction – enough to help an estimated 9,000 borrowers.
- To qualify for the principal reduction in California, homeowners must live in the home, owe more than it is worth, be of low-to-moderate income, and be delinquent or have some hardship that puts them in imminent risk of default.
- The balance on the first mortgage cannot exceed $729,750. Other rules apply, but there is no asset limitation. The maximum reduction is $100,000 per homeowner.
- For more information on the Keep Your Home programs, visit http://keepyourhomecalifornia.org/. Read the full story
http://www.sfgate.com/business/networth/article/Principal-relief-for-stressed-homeowners- 3986774.php
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6033 Caminito Del Oeste, San Diego, CA. 92111, Deluxe Townhome
October 20th, 2011 categories: Buying San Diego Real Estate, San Diego Condominium Guide, San Diego Real Estate, San Diego Real Estate News, San Diego Relocation, Selling San Diego Real Estate, Townhome 4Sale
Deluxe View Townhome on Tecolote Canyon
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Overview Maps Photos Features Description |
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William Johnson
RE/MAX Associates
(858) 4876975 William@WilliamEJohnson.com http://WilliamSellsSanDiego.com
Listed by: RE/MAX Associates |
Nearby properties for sale
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San Diego Real Estate August Market Report for Rancho Bernardo
September 20th, 2011 categories: Buying San Diego Real Estate, Investing in San Diego Real Estate, Local San Diego News You Can Use, Market and Forecast Updates For San Diego, San Diego Real Estate, San Diego Real Estate News, Selling San Diego Real Estate
San Diego Real Estate August Market Report for Rancho Bernardo
So How’s Your Market?
There is good news and bad news , which would you like first?
Here is the Good News.
* During the month of August, there are 263 Active Listings in RB ( Rancho Bernardo). The Average Price is $899,718 and the Median Price is $668,880. There were 53 Listings Pending Close of Escrow and 46 Sold Listings during the month. The Average Sold Listing was $694,993 and the median sold was $564,450.
A Recap of the Year to Date Sales shows we had 246 sold homes so far with the high selling price of $4,000000 and the low of $324,900. As you can see, we have a wide variety of single family homes ranging in size from 1200 sq ft to over 9,000.
On the Attached Home side of the housing market we have the following activity that took place in August. There are 58 Active Attached Listings through the end of August. The Average List price was $272,370 and the Median List Price was $278,000. There were 10 Listing Pending Close of Escrow ranging in price from $132,500 to $383,000. The 4 Attached Properties that Sold ranged from $145,000 to $499,876.
A Recap of the Year to Date Sales shows we had 138 Attached Homes Sales with a High Selling Price of $689,000 and a Low Selling Price of $125,000 for 540 sq ft. The Average Selling price was 261,249 for 1,163 sq ft and the Median Sales Price year to date was 234,950 for 1092 sq ft.
That was the Good News! Ready for the Bad News? Home prices are tending up and there is strong evidence that interest rates will likely be going up as well. Sitting and waiting for a better deal in Rancho Bernardo is not likely to happen so if you are considering a new Home or Condo, now is time to get in the market.
*Data obtained from Sandicor MLS and believed to be correct but not gauranteed.
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