August 2015 Real Estate Newsletter

July 31, 2015

Strong seller’s market in San Diego

The San Diego Union-Tribune‘s headline is “San Diego 3rd worst in home supply” for this article about low inventory and high demand is leading to home value appreciation in the county. I prefer to put a more positive spin on it….

July 30, 2015

Closed Sale – Del Mar Highlands

Del Mar Highlands four bedroom, three bath sold in four days. Sold for $910,000.

Jacarte Court
Jacarte Court

 

 

 

 

 

 

 

 

July 28, 2015

County home prices hold steady

San Diego County home price appreciation remained stable at 4.8% from May of last year to May 2015 according to S&P Case-Shiller Home Price Index and reported in the San Diego Union-Tribune. Continuing low inventory and increased demand help drive home prices higher.

July 27, 2015

U.S. home prices show 4.9% increase

USAToday reports on the S&P/Case-Shiller Home Price Index of the top 20 real estate markets in the country that resale home prices were up in the 4-5% range. But, as I’ve been noting in this newsletter over the past year or so, first time home buyers remain a weak spot in the market. For a full and lasting real estate recovery the market needs more first time home buyers.

July 22, 2015

U.S. home sales most since 2007

The National Association of REALTORS reports that existing home sales increased 3.2% according to an article in REUTERS. Thirty percent of June’s home buyers were first time buyers but in a “normal” market about 50% should be first time buyers to keep the pipeline flowing efficiently.

July 21, 2015

Pending Sale – Bay Park

Bay Park Home For Sale
Bay Park Home For Sale

Fabulous views from this three bedroom, two bath, 1,775 sq.ft. home overlooking Mission Bay Park. Offered for $997,000. Sold in one day.

More Info

 

 

 

 

July 17, 2015

Sales, prices up in San Diego

“San Diego County’s housing market had a banner month in June, with sales reaching pre-recession levels and the median sale price rising to a nearly eight year high,” reports the San Diego Union-Tribune.

July 15, 2015

Online property value estimates

Los Angeles Times story about how inaccurate online automated property value estimates can be. I have had this experience with online estimates where a home owner has researched their home’s value online. It’s not possible to create a “generic” value for residential real estate. Every property is unique in its own way.

July 10, 2015

Would a rate hike affect housing?

San Diego Union-Tribune article speculating on what will happen to the local housing market as interest rates go up in the coming months. Some are concerned that raising rates will destabilize the recovering San Diego residential real estate market.

July 7, 2015

The 20 most expensive zip codes in U.S.

CNBC lists the top twenty most expensive zip codes in the country as compiled by Property Shark. Guess which San Diego County zip code area made the list.