Archive for the 'Selling' Category
7 Reasons to List Your Home During The Holidays
Filed Under categories: News You Can Use, Real Estate News, Selling
posted by Kea on November 20th, 2008
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Buyers are looking all year long!
1. Less Competition - There are fewer homes on the market.
2. Buyers looking during the Holidays are serious and ready to make a decision.
3. December has one of the highest percentages of sales relative to the number of new homes that are listed on the market.
4. Holiday decorations can make a home look warm, festive and more inviting.
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.
Downtown San Diego Market Overview
Filed Under categories: News You Can Use, Real Estate News, Real Estate Stats, Selling
posted by Raye on May 1st, 2008
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Latest Statistics for Downtown
San Diego Real Estate
The following graphs and charts prepared by MarketPointe Advisors are informative and helpful in fairly analyzing the current market in downtown San Diego. Because it is the new home market that has been most severely affected, the downtown has not taken the deep plunge seen in other markets. In fact, the case can be made that we have already hit our bottom and this could be our turn around year.
So far in 2008, the numbers look as good or better than 2007 for the 92101 zip code.
Click here to view MarketPointe Downtown San Diego Housing Market Overview
The MarketPointe Housing Market Overview includes statistics for the following Downtown topics:
1. Map of New Homes For Sale Downtown
2. Downtown San Diego New Homes Sales Trends
3. Downtown’s Best Selling Projects
4. Downtown San Diego New Home and Resale trends
5. Downtown New Home Inventory, Conversions and Resales
6. Resale, Days On Market
7. Downtown San Diego New Home Pricing Trends
8. Downtown San Diego Resale Pricing Trends
9. Downtown Proposed ActivityClick here to view the full report
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
Mortgage Crisis
Filed Under categories: Buying, Finance, News You Can Use, Real Estate News, Selling
posted by Raye on August 23rd, 2007
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In case you haven’t heard, the media has a new darling. They have taken an issue, albeit a serious one, and transformed it to the status of Armageddon.
I’m not denying the current mortgage situation is creating financial havoc and confusion, but I am suggesting that it is a problem that can be solved and lessons will be learned. Some of those lessons should have been learned the last time by lenders who got sloppy in the underwriting department and consumers who got a little too excited and didn’t quite think things through and plan ahead wisely.
The point is that there was a last time and there will probably be a next time with slightly different circumstances and effects. But, last time was corrected and this time will correct, too.
The following article has some great information and explanation for the current problems most of us are facing in one way or another. Greg Wickstram, with First Capital Mortgage, has written an informative and helpful piece leaving out the hysteria and headline grabbing alarms. It is a factual and balanced piece and I think you will find it helpful. Please let me know your thoughts and comments.
Excerpt from Greg’s ‘Mortgage Market Crisis”
Mixed Messages?
Filed Under categories: Buying, Downtown, News You Can Use, Real Estate News, Selling
posted by Raye on July 26th, 2007
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July 17, 2007 Union Tribune Article ‘
Housing Prices In County Hold Their Own – June Sales Volume Is Lowest Since 1997’
Seems like the public is receiving a daily onslaught of real estate and economic news that often contradicts, overlaps and confuses just about everyone. Sorting fact from fiction often depends on which paper and/or reporter you want to believe. Some analysts are known for their predisposition to interpret statistics and data into an optimistic forecast while others will take the same information and use it as the final nail in the coffin.
Is the glass half empty or half full? Is the real estate market still dying a slow death or is it poised to cautiously rebound?
Well, I guess it depends on who you talk to, what you want to believe and if you are reading the lines or in between them. The truth is none of us, not even the experts, know for certain when and where the bottom is until we look back at it. And, none of us can accurately predict when the rise in values will begin again. Read the following article and decide for yourself if overall, the state of the market, while not as good as it used to be, isn’t as bad as it could be and perhaps, the worst is behind us.
Click here to read more from the San Diego Union Tribune Article: Housing Prices In County Hold Their Ground, June Sales Volume Is Lowest Since 1997
Click here to view San Diego Housing Price Tracker
Advantages of using a Downtown Realtor
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 July 16th, 2007
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At the risk of angering some of my colleagues with this article, I’m going to go out on a limb here and state my case which ultimately, will show the benefits to all parties – buyers, sellers and agents. Downtown San Diego is quickly becoming a national and international destination. People are relocating here for work, retirement, second, third and fourth homes and demand is stimulating the growth. That growth translates into high rises that are rapidly changing the skyline. Views today – maybe not tomorrow.
Being informed and up to date on proposed projects and approved projects and their impact on existing high rises is of critical importance. Buyers need to know before making an offer what their view is going to look like two, three, five, ten years from now. This is a disclosure like any other disclosure in real estate. More than once, I have heard an out of area agent dispensing inaccurate information. My dilemma becomes, “Should I correct them and risk offending or say nothing and both of us face a future lawsuit for failure to disclose pertinent information?”
So, You want to wait 6 months to buy???
Filed Under categories: Buying, Downtown, News You Can Use, Real Estate News, Selling
posted by Raye on July 15th, 2007
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Boy, if I had a dollar for every time we have heard that line, I should be able to retire when they all close escrow. But, Buyers have been saying that for about 18 to 24 months. They keep renewing that six month pledge. I have also heard several times the very lovely phrase, “I’m going to wait until I see blood running in the streets.” I understand the thought process and everyone wants “a deal” but, so many of the Buyers we have talked with over the last few years should be living in and enjoying the property they pulled back on. Prices have stayed relatively flat.
Interest rates have ticked up. How much savings could they have realized in interest deduction? How much more are they going to pay for the mortgage today versus 18 months ago? Unless they are buying with the intention of flipping in a year or two (which makes no sense anymore), is it really worth trying to time a market to possibly, not assuredly, save money when 5 years from now that potential savings will be the last thing you remember?