Real Estate Newsletter – February 2017

January 31, 2017

San Diego home prices outpace U.S.

“Prices in San Diego County’s housing market in November outpaced the rest of the nation and California, said the S&P CoreLogic Case-Shiller Indices released Tuesday,” reports the San Diego Union-Tribune.

U.S. home prices continue heading up

The Wall Street Journal reports on S&P CoreLogic Case-Shiller’s statistics of the top U.S. housing markets that show, “The 10-city index gained 4.5% over the year, up from 4.3% last month, and the 20-city index gained 5.3% year-over-year, up from a 5.1% increase in October. ”

January 30, 2107

Virtual reality home marketing

San Diego Union-Tribune article about using virtual reality technology to market real estate listings.

January 25, 2017

Median San Diego price under $500K

“The typical home price in San Diego County ended the year under half a million dollars.  In December, the median home price was $495,000, real estate tracker CoreLogic,” and reported in the San Diego Union-Tribune.

January 24, 2017

U.S. home supply @ 17-year low

REUTERS article states that, “U.S. home resales fell more than expected in December as the supply of houses on the market dropped to levels last seen in 1999″ as reported by the National Association of REALTORS. 5.65 million resale properties sold in November 2016 which was the highest total since 2007.

January 19, 2017

Cities with housing shortages

The website Patch published a list of the ten U.S. cities with the highest shortage of homes for sale. Amazingly, San Diego is not one of them even though there is very low inventory of resale homes available to purchase.

January 13, 2017

Closed Sale – Poway

Pending Sale - Poway
Pending Sale – Poway

Summerfield Estates four bedroom, two bath with 1,750 sq.ft on quiet cul-de-sac. Offered for $650,000.00.

Pending Sale – Escondido

Pending Sale Escondido
Home For Sale Escondido

Lake Hodges area 3 bedroom, 3 bath on beautiful 1.75 acre lot. Offered for $889,000.00

January 9, 2017

Mortgage insurance rates reduced

“The Federal Housing Administration announced Monday it will reduce the annual insurance premiums most borrowers will by pay by a quarter of a percent, saving the average homeowner $500 this year, ” writes Phillip Molnar in the San Diego Union-Tribune. San Diego borrowers could save up to $1,200/year.

Home inventory drops

“In December, 1,781 single-family homes changed ownership in San Diego County, 8 percent fewer than in November and 11 percent below the level of December 2015,” according to the San Diego Association of REALTORS and reported by FOX5.

January 2, 2017

Mortgage rates move lower

The Washington Post reports that, “According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average tumbled to 4.2 percent with an average 0.5 point. (Points are fees paid to a lender equal to 1 percent of the loan amount.) It was 4.32 percent a week ago and 3.97 percent a year ago.”

Just Listed – Escondido Executive Home

Home For Sale Escondido
Home For Sale Escondido

Beautiful three bedroom, three bath, 2,598 sq.ft. executive home on 1.75 acres. Attached guest quarters includes bath and kitchenette. Offered for $889,000 by Pete Saxon Realty.

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