July 2015 Real Estate Newsletter

June 30, 2015

Pending Sale – Oceanside

Oceanside home for sale
Oceanside home for sale

Great two bedroom with detached cabana that has bedroom and bath. Walk to the beach. Sold in less than 2 weeks.

Home resale prices steady in county

The S&P Case-Shiller Home Price Index of 20 U.S. cities was 4.5% in April which “was virtually the same as in February and March,” reports the San Diego Union-Tribune. I think this is really great news for the local housing market. Real estate should appreciate at a steady pace and 4.5% is well above the rate of inflation.

June 29, 2015

Pending home sales highest in 9 years

The Wall Street Journal reports on National Association of REALTORS survey showing the U.S. pending home sales were up 0.9% in May to their highest level since April 2006.

June 22, 2015

U.S. existing home sales 5.5 year high

First time home buyers drove existing home sales to a 5.5 year high in May according to the National Association of REALTORS and reported by CNN. “First-time buyers accounted for 32 percent of transactions, the largest share since September 2012,” the article stated. If first time home buyers return to the market at this pace the residential real estate market with take off.

June 21, 2015

New Listing – Oceanside

Oceanside home for sale
Oceanside home for sale

Great two bedroom with detached cabana that has bedroom and bath. Walk to the beach. Offered for $575,000.

County prices appreciate 3.1%

CoreLogic statistics reported in the San Diego Union-Tribune show that home prices in San Diego County were up 3.1% this May when compared to May 2014.

June 17, 2015

Foreclosures up 1% across U.S.

REUTERS reports on RealtyTrac statistics showing that, “A total of 126,868 homes across the country were at some point in the foreclosure process in May, up 1 percent from April and up 16 percent from the same time last year.” Some of this activity could be due to lenders finally clearing their inventory of delinquent loans left over from the recession.

Rent vs Buy Calculator

The New York Times published an online calculator to help analyse whether it is better to purchase a home or rent based on current market conditions. You just adjust the sliders on the page to reflect your estimated costs and the page displays a number at the bottom to help you compare rental costs vs purchasing.

June 16, 2015

Does web traffic sell homes?

Wall Street Journal story reporting on a study by Zillow about whether or not property listings with the most online views sold more quickly than listings with fewer clicks. The answer is “no.” My company slogan is “Real estate sells because of location, price, terms, condition and accessibility – not the name on the For Sale sign,” which is once again proving to be true.

June 13, 2015

8.6% of local homeowners underwater

San Diego Union-Tribune story about Zillow study showing that nearly 40,000 San Diego County homeowners still owe more on their home loans than their properties are worth. This is one of the major factors as to why we have a lack of inventory of homes for sale in our local real estate market.

June 12, 2015

15.4% of U.S. homeowners underwater

BloombergBusiness story on Zillow statistics indicating that 15.4% of homeowners across the U.S. still owe more on their home loans than their property is worth. But this is less by almost half of the 31.4% who were underwater in 2012.

June 10, 2015

Lower homeownership rate predicted

MarketWatch reports on a study by the Urban Institute that predicts that the percentage of people who own homes will drop between now and 2030.

June 9, 2015

City of Poway

Cox San Diego Connections produced a video about the City of Poway which is where I live and do business. Interviews with the mayor, city manager, chamber of commerce president and school board superintendent are featured.

June 8, 2015

Housing headwinds?

Wall Street Journal story about high rent prices leading to home buying. Future demographics may slow this trend according to this article.

June 7, 2015

Buying again after foreclosure

San Diego Union-Tribune article discussing how folks who may have lost a home to foreclosure or short sale during the most recent recession may be able to buy a home again.

June 4, 2015

Another real estate bubble?

Interesting video interview with Lawrence Yun the Chief Economist for the National Association of REALTORS.