Archive for the 'Buying' Category
But First, This Is Downtown Today
Filed Under categories: Buying, Columbia District, Core, Cortez Hill, Downtown, East Village, Gaslamp Quarter/ Horton, Little Italy, Marina District, News You Can Use, Real Estate News
posted by Kea on November 5th, 2008
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CCDC’s Summer/Fall 2008 Downtown Magazine Is Here!
This bi-annual publication provides all of the latest updates and developments in downtown including, going green, parking, lighting, San Diego Civic Center, Harbor Drive Pedestrian Bridge, Tweet Street Park, parking, Affordable Housing, Balboa Theater restoration, North Embarcadero Visionary Plan updates, Education Fair, Children’s Museum and San Diego Quiet Zone. CCDC, Summer/Fall Issue 59.
Click here to read Downtown Today Summer/Winter 2008
Common Sense Prevails in Uncommon Market
Filed Under categories: Buying, News You Can Use, Real Estate News
posted by Kea on November 3rd, 2008
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“Buy A Home – – Or Wait?”
Common sense still prevails in an uncommon market. No one can predict the return of market profits, or the bottom of real estate prices - and they shouldn’t try to predict real estate as an investment. Real estate is still a tangible investment and its’ tangible qualities are more important than ever. While a home holds monetary value, it holds emotional and permanence values. You can live in your home. You can design your home. You can raise your family in your home. So buying a home now will not necessarily improve your portfolio immediately, but it’s an investment you can use and that will be yours when the economic tide turns.
Time To Celebrate…..almost
Filed Under categories: Buying, Finance, News You Can Use, Real Estate News, Selling
posted by Kea on September 10th, 2008
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It’s not time to pop the champagne, but it may ease the jitters felt by millions of homeowners, lenders, realtors now that the Feds have moved forward on a necessary takeover and restructuring of the mortgage giants, Fannie Mae and Freddie Mac.
Treasury Secretary Henry Paulson has organized a well-designed plan for not only placing the companies into the hands of the government for reorganization but restored the ability of the principles of free-market competition to prevail. By limiting the power of these greedy giants with unfair advantages, it will allow competition and innovation back into the industry and ultimately, fair practices and better pricing and safe guards for the consumer.
RENTING VS BUYING: The Debate Continues
Filed Under categories: Buying, News You Can Use, Real Estate News
posted by Raye on June 3rd, 2008
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The following article from the New York Times is one of the best arguments for considering buying that has been written in a very long time. And, the best thing about it? It’s written by a reporter committed to renting - up to now. Although different regions of the country are experiencing different degrees of housing market pains, almost everywhere and every price point is reporting significant decreases in home values. Isn’t the obvious staring us in the face? It means it’s a great time to buy! Duh!
Click here to read NYtimes article: As Home Prices Drop Low Enough, a Committed Renter Decides to Buy
San Diego: Still Want To Rent??
Filed Under categories: Buying, Finance, News You Can Use, Real Estate News, Real Estate Stats
posted by Raye on April 22nd, 2008
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When a market changes from a seller’s to a buyer’s market, it’s not uncommon to for sellers to try and rent and “wait it out”, if they can and for buyer’s to rent and sit on the sidelines licking their chops and waiting for “deals”. But, at some point, it becomes self-defeating trying to time that ubiquitous “bottom” and it’s time to get on with it!
Following are some statistics that should every current renter should know before signing another year lease:
The Department of Commerce reports that between 1995 and 2004, the average renter accumulated a little over $4,000 in net worth.
The average homeowner accumulated $184,400. That translates into $180,000 more, or $1,500 per month.
In other words, each month that the average first-time buyer continues to rent, it costs them $1,500 in lost wealth accumulation.
Furthermore, renters are subject to rent increases as well as higher tax rates because they cannot take a mortgage deduction.
San Diego Housing Market: Time To Jump In?
Filed Under categories: Buying, News You Can Use, Real Estate News
posted by Raye on April 21st, 2008
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The following article published in the usually negative San Diego Union Tribune on April 20, 2008, finds the silver lining in the declining housing market. It’s fairly obvious – it’s time to buy! Or, at least start looking around for a near future purchase. Will prices dip even further? Maybe, maybe not. No one, including the so-called experts can predict the bottom of a market. It’s so clear in hindsight. But, one thing is clear: real estate runs in cycles and we all agree we are in the downward part of the cycle and prices are adjusting. Affordability in the San Diego housing market is becoming a reality for more and more buyers. So, what are you waiting for?
Click here to read the entire article Silver lining in the midst of more bad housing news The San Diego Union Tribune by Dean Calbreath
Can You Believe It?
Filed Under categories: Buying, News You Can Use, Real Estate News
posted by Raye on April 17th, 2008
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As if a tough market were not enough, here comes some buyers suing their agent, protesting in front of his office for two years (someone needs a life!) and ultimately, losing their flimsy case as decreed by a jury with common sense. How ridiculous can it get? I don’t think we have seen the ultimate act yet.
Naturally, realtors are great targets for buyers and sellers frustration. But, ultimately, isn’t the responsibility for a transaction between the parties signing the contract?
Marty Ummel recently purchased a home in the San Diego area and sued her agent. Click here to read the full story.
Housing Recovery 2008 - Is it really coming?
Filed Under categories: Buying, News You Can Use, Real Estate News, Selling
posted by Raye on January 17th, 2008
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There’s an old joke that if you ask 5 real estate analysts to predict the future you will get 7 different answers. Okay, maybe that isn’t exactly how it goes, but you get the idea. Now the California Building Industry Association has come out with a pretty positive projection for 2008 based upon building permits, lower interest rates and pent up demand.
Alan Nevin, chief economist for the association believes we could start seeing a turn around in San Diego as early as this spring. His reasoning is interesting and encouraging and if the start of this year is any indication, he will be correct. Buyers are coming out and realizing they can’t time the bottom and we may already be there. San Diego probably led the way down and will also lead the way up. What a relief to finally hear some good news. It’s cautiously optimistic, but that’s better than the news of the past 2 years.
Excerpt from Alan Nevin’s article:
Housing’s New Reality, Even As Economy Improves
Economic recovery in California in 2008
will only bring stabilization to the home market
This is not the easiest year in San Diego history to forecast. The major problem lies in the myriad of conflicting statistics and indexes at the international, national, state and local levels. After reviewing pages of data and literally dozens of forecasts by learned academics and scholars, I am going out on a limb and taking a very contrarian view of 2008. Most of the forecasts I have reviewed anticipate no start of an economic recovery until late 2008 or early 2009, especially in California. My crystal ball, though cloudy and slightly cracked, has a slightly more optimistic scenario.Click here to read the entire article
Have we hit bottom yet?
Filed Under categories: Buying, Finance, News You Can Use, Real Estate News, Selling
posted by Raye on December 10th, 2007
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Timing the bottom (or top) of a market is a probably one of the most difficult and frustrating pursuits. If we knew where the bottom was (or the top) wouldn’t everyone be rich in real estate and stocks? These benchmarks are never revealed in the current time, only in retrospect. It takes somewhat of a distant perspective to locate when and why a bottom was hit or when a high was reached. But, there are signs and indicators the truly savvy investor can look for and react accordingly.
Another key factor to keep in mind if you are buying, is how long you intend to hold the property. At this point in the market, as long as you intend to hold for 3 to 5 years, don’t wait. Make an offer. There’s no magic in another six months. Really, there isn’t, not in San Diego. Might as well get in there and enjoy your new home.
Click here to read “Buyers are looking for market bottom” from The San Diego Union Tribune
Taking Inventory, Downtown San Diego
Filed Under categories: Buying, Columbia District, Core, Cortez Hill, Downtown, East Village, Gaslamp Quarter/ Horton, Little Italy, Marina District, News You Can Use, Real Estate News, Selling
posted by Raye on September 18th, 2007
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If I’ve heard it once, I’ve heard it a thousand times: “There’s too much inventory downtown. It’s a bubble! It’s going to burst! Prices will fall like a stone!” Well, hysterics aside, let’s take a look at the real picture which means, the big picture which means, taking the long term view as well as the current view and combining it with some important economic factors. Then, I believe the hysteria will melt away and in the foreseeable future, San Diego downtown will rise again with a vengeance. The following article by Alan Nevin of Marketpointe Realty Advisors, featured in the September 2007 Metropolitan Magazine, is a great, well researched article and helps outline and clarify the facts. I invite your feedback and look forward to your responses. Excerpt:
Downtown’s Shrinking New Condo Inventory As builders stop building, the supply of homes no longer is bottomless It has been almost a year since we broached the topic of the Downtown condominium market in this column. Yes, things have changed, and despite the glut of negative press, the glut of condominiums some predicted has not materialized, and business isn’t so bad. The resale market is holding up rather nicely. The inventory of active resale listings at the end of July was 492 compared to 613 one year ago. Days on market remain at about 90. That is a lot longer than ordinary (60 days), but condominiums are selling.
Click here to read the rest of this article