Leave a comment » San Diego Real Estate TrendsWhat is the real estate market saying?If you are alive and breathing and listing to radio and television or reading websites or an actual newspaper, it is likely you have heard all the talk about the real estate market. You might think it is the end of the world, it is not. If you are thinking of buying a home, all this talk may have delayed your decision or even made you question the wisdom of home ownership entirely. Here is one man's opinion from the New York Times, entitled A Dream House After All. Maybe the best thing to do first is to take a step back and consider what has taken place over the past year in San Diego real estate, as a whole and specifically the North San Diego Coastal towns we focus on at CoastalHomeFinder.com Here is our updated report with San Diego County real estate stat's which includes residential real estate, condo, town home & detached properties is below:
The North San Diego Coastal Market Trends Report: One thing to note from both reports is that the Months Supply of Inventory for San Diego and the North San Diego Coastal real estate markets fall within the balanced market category, with north San Diego Coastal having a bit higher supply at 6.9 months, and San Diego County having under 5.3 months supply of housing inventory. A couple of interesting stats that came out recently in the distress area of the real estate market in San Diego: For July, Notice of Defaults, the first step in the foreclosure process fell approximately 50 percent from a year ago. To be sure there are debates on why this is. It could be there are less people in trouble, more loan modifications getting done or more short sales being approved. It is most likely all of these factors. Foreclosures: July foreclosures in San Diego county were down 32 percent from a year ago. July Sales Volume for San Diego County was down 19.4% according to MDA DataQuick but median price was up year over year 5.6% to $338,000. I am not sure who, other than the media, has been surprised by the slowdown recently in the number of sales. We should keep in mind that we have just experienced the largest amount of stimulus in history poured into the real estate market. It has now come to an end. With one big exception, mortgage rates are still extremely low. The tax credit has served it's purpose of stabilizing the real estate market. Now the fear debate has heated up again. We are headed for a double dip some say. After 13 months straight of median price increases in San Diego, we are due for a bit of a pause or dip in median prices. I tend to think the over-hyped stories will end up being just that, nice stories, but only time will tell. There are a couple of facts to consider: Mortgage Rates are at all time, historic lows, and prices are significantly less that they were just a few years ago. Lastly, investors are buying right now, some very smart folks that called the fall of real estate are back in the game buying. One of the most helpful ways to figure out your best path, especially in times like these is to look at things from three perspectives: 1. What is the best case scenario? 2. What is the likely scenario? and 3. What is the worst case scenario? Run the numbers. For example, a $417000 loan today in the 4.25% range would cost approximately $2051 per month for principal and interest. If the market dropped to allow you to buy the same house with a $50,000 lower loan amount of $367,000 but mortgage rates went up to 5.5%, your monthly principal and interest payment would actually be higher at approximately $2083 per month. So I suggest looking at it from several different scenarios. Make sure you are buying for the right reasons and that those reasons make sense long term. If you would like to discuss what your options are in today's real estate market just call me directly at 760-602-1000 or Loren@Coastalhomefinder.com See this weeks list of coastal distressed deals
http://www.coastalhomefinder.com/00B020 
Posted on September 02, 2010 05:14:59
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 Loren D. SandersSubscribe to receive Comments via RSS Feed from our site. |
Leave a comment » North San DIego Coastal Real Estate Actvity TodayBuy The Pause!!!
If you click on the map in some cities like Oceanside California, you will find home prices have been moving up. In Del Mar Ca, home prices look like they may have reached a bottom. For San Marcos Ca, the market has been rebounding nicely and in some North San Diego Coastal real estate markets it looks like prices are going down. The curious thing in all these charts is that if you segment out the market in quarters you may even see prices moving up in the lower end of the home market, while prices are still coming down in the upper end. The real estate market is not only local by city but specific by price ranges. Even types of homes can offer stronger pricing, for instance 1 story homes have held their price and moved up due to the low over all inventory of this type of home. During the past three years the North San Diego Coastal locations have done better than inland locations in San Diego. By the way we have had 13 months in a row of median price increases in San Diego County, so a pause in upward movement may be in order. If you are a home buyer you may want to seriously consider buying this pause. The perfect storm of LOW, LOW interest rates and low home prices are likely to make you very happy when you purchase now. Here are some available homes at attractive prices, check them out. If you would like information on the market or want to talk about a potential purchase call me direct 760-602-1000.
http://www.coastalhomefinder.com/00AF35
Posted on August 10, 2010 18:42:02
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Loren D. SandersSubscribe to receive Comments via RSS Feed from our site. |
Leave a comment » North San Diego Coastal Real Estate Update August 9th 2010North San Diego Coastal Real Estate Sales Activity
http://www.coastalhomefinder.com/00AF33
Posted on August 10, 2010 17:37:32
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Leave a comment » Carlsbad Real Estate Market UpdateCarlsbad Real Estate Stat's
http://www.coastalhomefinder.com/00AE62
Posted on July 27, 2010 22:47:17
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Leave a comment » North San DIego Coastal Real Estate ActvityNorth San Diego County Home Market Stats
http://www.coastalhomefinder.com/00AD97
Posted on July 13, 2010 01:30:39
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