San Diego Real Estate Cafe by Krista Lombardi
Archive for the 'How’s the Market?' Category
The Answer to What’s Probably the Most Asked Question in Real Estate.
Ever find yourself wanting to ask this, or other, question?
So how’s the market? This is probably the question I ask more than any other as a REALTOR® with Prudential California Realty. It seems that everyone whether they’re even buying or selling want to know what’s going on in the real estate market here in San Diego California.
The reason I say here in San Diego is because that’s what’s more relative to most people. The local market is what’s going to affect them. This is why I always emphasise that all of that doom and gloom stuff people see on the television, in print or on the Internet might not be relative to their specific situation. Read the rest of this entry »
Homeowners More Confused Than Ever Now.
Are you confused by the banks recent actions?
If you were facing foreclosure would you agree that this decision by banks makes things even more bewildering? I have seen looking at several sources of information and the numbers aren’t good. Data seems to suggest that homeowners are more confused than ever much in part to the uncertainty caused by the decision of most major banks to stop foreclosure and review their procedures.
Any homeowner facing foreclosure would most importantly like to know by when they have to move out so they can plan accordingly. Knowing the move out date can be a relief of sorts because it’s almost like getting closure and you can also plan for it. I’m sure there’s nothing worse than to have to move out on short notice rather than being able to plan and save money to make the transition as smooth and painless as possible. Read the rest of this entry »
Interesting News Concerning San Diego Home Prices.
Will you pay more for a home if you wait longer?
Have you been wondering what’s going to happen with home prices here in San Diego? Well I’ve been doing some research into this very popular topic of conversation as it is often one of my most asked questions. From what I’ve been reading and hearing it’s projected that home prices will stay level throughout the rest of the year.
Other factors that are sure to affect home prices next year is the stoppage of foreclosures by many large financial institutions. Though California wasn’t on the present list of states where banks will be doing this you can rest assured that once litigation begins, and it will, regarding the legality of some of these foreclosures California, being a state with a large amount of homeowners facing foreclosure, will find a way to be included in this foreclosure review. Read the rest of this entry »
San Diego Gets Gleaming Real Estate Report Card.
San Diego's real estate future is looking bright.
Are you ready for some good news about San Diego real estate? Well Standard and Poor’s/Case -Shiller Home Price Index is how Wall Street evaluates real estate markets throughout the country. San Diego showed great signs of recovery and was second to only San Francisco.
San Diego saw a gain or 9.3% year over year from July 2009 through July 2010 compared to San Francisco who saw an 11.3%. The national average was about 3.2% across the top 20 metro markets in the U.S. This is great news and according to the article San Diego and California have come along way back from the crash just a few years back. Read the rest of this entry »
New Trend in Homes Goes to Less is More
Will we ever see homes of this size become the standard again?
Do buyers still want that 2600sq.ft. home with the large yard? There’s a new trend in real estate and it’s going in the direction of smaller. From young buyers to middle age to seniors. The days of the McMansions are over and people are trying to do more with less. The first obvious reason for this is of course price. Consumers are trying to save money wherever they can and this is a great way to do just that. A home is usually one’s largest expense and any saving here can be huge.
Younger buyers for one can’t afford large home from the onset so they’re naturally looking for small urban dwellings that can save them money on gas and such by being able to walk to most anything they need. Newer construction, at least here in San Diego, had been designed with functionality in mind. Most condo towers downtown have retail on ground floor offering everything from coffee, dry cleaning, pet care and much more. Read the rest of this entry »
Survey Reveals Interesting Opinions with Regards to Mortgage Default.
Are you considering to stop making your mortgage payment? Do you know your options?
A recent survey revealed that most Americans find it unacceptable for people to stop paying their mortgage. This survey was taken mid first quarter of this year so the data is fairly recent. There were some participants that felt that they wold feel differently depending on the person’s personal situation.
Another interesting fact is that around 21% of those survey said their mortgages were more than the value of their home and 48% said their homes had lost some of its value. The survey also revealed a geographical difference when it came to understanding mortgage defaulting. It seems that people on the East coast frown upon walking away from ones mortgage than on the West coast. The Midwest of course came right in the middle as their name foretold. Read the rest of this entry »
Which Real Estate Data is Most Accurate and Properly Represents the Real World?
In real estate trends, who's right, who's wrong and who's just plain lost?
Are you or anyone you know confused about the current San Diego real estate market? With every article the confusion grows because they all seem to have varying perspectives on the market. Whether you’re buyer or seller, which one can you trust? I read from various sources of real estate data to get as large a cross section view of the market as possible.
We’re all familiar with sources such as Realtor.com, Zillow.com and NAR (National Association of REALTORS). The thing we have to understand that the they all arrive at their conclusions, which they then publish, by different data processing methods. This can contribute to the confusion because more often than not each source can come to a completely different inference. Read the rest of this entry »
Home Prices in San Diego Have Been on an Increase Streak
Are San Diego home prices going to continue to rise?
Is the San Diego real estate market stabilizing? Though no one can say with any certainty the data seems to suggest that for a significant stretch in time the San Diego real estate market saw a sustained increase in prices. most of this probably can be attributed to the tax incentives offered on the federal government level and also the state government level.
On the other hand now that most of the incentives for buyers to purchase a home, the price increases will more than likely come to an end or diminish to minute levels. Buyers took advantage of several factors, such as low interest rates, low home prices and tax incentives, thus pushing home sales up.With more buyers than inventory lots of properties saw multiple offers thus small bidding up wars were created.
Ever Wonder How San Diego’s Real Estate Market is “REALLY” Doing?
Which direction is the real estate market REALLY going?
As a REALTOR with Prudential California Realty I’m asked this question more than I can count because I’m involved in San Diego Real Estate. I, like the public at large, have to really read carefully into what the media publishes, says and presents. San Diego real estate is a hot topic of conversation at most places I go and I think it will continue to be for some time to come.
I was reading an article that states that home sales are down compared to last year. As I read along I got to see why the public can be confused by such statements. If you just read the article’s headline you’d only be half right. After reading the entire article and clicking on some of the cities used to compile the data for this specific article I was able to decipher the most important thing all of us in San Diego really care about and that is our local market. Read the rest of this entry »
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