June 2015 San Diego Real Estate Newsletter and Market Report

Great Things Are Happening in San Diego Area Real Estate! 

Inside This Issue…
* What is going on with Dennis & Sunshine…
* Real Estate Report -How many different ways can I say it…Prices up again…Foreclosures Down…
* Mission Valley/SDSU Investor/Student Condo $185K…* Green-Improvement Loans May Cause Problems for Consumers…

* San Diego County Fair started Friday 6/5…

June 2015 Newsletter and San Diego Real Estate Report

* See my Blog Posts at http://sandiegohomes4u.com/blog/
For Interesting articles and Infographics.
* The Student Loan Obstacle to Buying a Home.
* Eco-Friendly Home Features and Sales Price.
* 6 Credit Score Myths.
* Year round Property Maintenance Tips.
* 16 Family Summer Safety Tips.
___ June & July Calendar of San Diego events  –   http://sandiegohomes4u.com/blog

Sunshine & I have been pretty busy with the strong Real Estate Market so we do not have much to report.  We are planning on spending a day at the San Diego County Fair before the Fair closes July 5th, the day after our Anniversary on July 4th. Yes, we were married on “Independence” Day 😉
Her parents were married on July 3 and my parents were married a year before on July 2nd.

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San Diego Area Real Estate Report…
Inventory is down, Prices are rising, Multiple Offers up…Again & Again.

One interesting effect of a weaker-than-expected economy is that the
Federal Reserve does not seem ready to raise short-term interest rates
during summer, as some had suggested might happen.
New projections indicate that rates will remain the same until
September at the earliest.

The dominant storylines in housing are decidedly not negative these days.
Instead, you’re more likely to see top sales and luxury living
highlighted than the woes of foreclosures and short sales.
However, that does not stop the rates from drifting up in anticipation.

In N San Diego County, Month to Month increase for
detached houses was 8.8% to $612,000.
Month to Month increase for attached houses was .8% to $378,000.
Year over year changes were up 4.92% & down .64% respectively.

Median days on the market for N County homes dropped
from 19 to 15 days on the market in May.
Two major factors in that are the continued low interest rates
and the shortage of inventory.

Countywide, the Median Sales Price was up 7.1 percent
to $530,000 for Detached homes
and up 6.1 percent to $348,000 for Attached homes.
Days on Market decreased  9.5 percent for Detached homes
and 13.5 percent for Attached homes.
Supply decreased 21.2 percent for Detached homes
and 21.4 percent for Attached homes.
A balanced buyer/seller market is 5 to 6 months supply.
Our current supply for some markets is less than one month.

There are only 62 active Bank Owned/REO listings and
172 Short Sale Listings out of only 6650 total available
houses & condos in San Diego County.

Buying a home is becoming more of a challenge with the low inventory.
Fortunately, rates are still great.

This is great for sellers but provides challenges for buyers and move up or down  sellers.  Buyers have to be totally ready and very committed to buying.  See me a month or  two before you are ready to start looking so we can be sure you are really ready.

How long is this sellers market going to last? 2 years? 4 years?
I wish I had my crystal ball and so do you.

Number of underwater homes in San Diego falls to 7.7%.
The number of homes underwater is dropping, with about 45,000 homes in the San Diego region having negative equity in the first quarter of 2015.
About 7.7 percent of all residential properties with a mortgage were in negative equity in San Diego County, according to a new analysis from real estate data provider, CoreLogic, compared to 9.9 percent in the first quarter of 2014, and 8.9 percent in Q4 2014.

That 7.7% would be lower if it included homes with NO Loans.

Nationwide, the total number of mortgaged residential properties with negative equity is now at 5.1 million, or 10.2 percent. This marks a 19.4 percent year-over-year decrease from the 6.3 million homes — or 12.9 percent of all mortgaged residential properties — from Q1 2014.

Please feel welcome to call me and see how this information affects you and your  unique circumstances.  Every situation is different. I am here to help you thru your  Real Estate adventure.

Please contact me for the full report and local details.

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Free, Online, Instant North County Home Valuation
Go to http://nsandiegohomesellingguide.com/rapidcma
———————————–New “Investor/Student” Condo in Mission Valley/SDSU for only $185K…Remodeled and Move in ready!!!
Just Listed.  Extremely desirable, top floor 1 bedroom condo with view balcony! Kitchen remodel w/granite countertops, new stainless appliances & new carpet. New vanity in the bathroom. Updated light fixtures. New Dual Pane windows & doors.Investors could rent this in the $1400/mo range.
It Cash Flows with 20% downThe unit is within walking distance to Qualcomm Stadium, 24 Hour Fitness, public transportation, trolley and restaurants. A short block to the trolley with its connections to SDSU (2 stops away so no need to pay high parking fees), Downtown and almost all of San Diego County.

This lovely complex features a clubhouse with pool tables and ping pong tables, 2 pools, 2 spas, 2 tennis courts, BBQ, several calming water fountains, lush landscaping & a great clubhouse making this your own personal resort!

One offer so far.  Hurry, this will be gone soon.

See https://youtu.be/FR6oS6Dku50  for more pictures.

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Green-Improvement Loans May Cause Problems for Consumers…

Well-meaning green energy loan and lease programs that were crafted to put idled contractors to work and pump up home values need to be scrutinized carefully, as real estate agents and consumers are facing difficulties when it comes time to refinance or sell a home with a HERO or PACE loan.
Many homeowners argue they were led to believe such loans went with the house to the buyer, if it was sold or refinanced. However, officials say the disclosures about potential resale or refinance consequences are not clear.  Only 10% of lenders will finance these programs.

http://www.pe.com/articles/hero-768415-program-home.html?page=1

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San Diego County Fair ends Sunday 7/5

Join us for the San Diego County Fair as we present
“A Fair to Remember: a Celebration of World’s Fairs and Balboa Park”.
We’ll commemorate the centennial anniversary of the 1915 Panama-California Exposition held in Balboa Park, and the great traditions and inventions arising from fairs. (Did you know the bicycle, telephone, ice cream cone, Ferris Wheel, and air conditioning were all introduced at a World’s Fair?)

The San Diego County Fair opened on Friday, June 5 and continues through Sunday, July 5. The Fair will be closed Mondays.

25 Days for $25.   Get the Best Pass Ever now!
You know you can’t see everything at the Fair in just one day, so here’s your (early) opportunity for big savings with the Best Pass Ever! That’s one price of $25 for all 25 days of the Fair, regularly $15 each day (adult admission). On sale now!
I always make use of the free parking alternatives you can find on their site.
Check the site for  more information and other ticket deals. – http://www.sdfair.com/ .

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Wishing you a great week, month & year!
We are never too busy for your referrals.

Sunshine Smith, SFR, Realtor &
Dennis Smith, SRES, ABR, e-PRO, CDPE, Realtor
CalBRE Licenses:  Dennis: 00476662  Sunshine: 01249837
RE/MAX BY THE SEA
dennis@sandiegohomes4u.com
http://SanDiegoHomes4u.com/Home.htm  Local: 760-436-0087
Cell/Text:  760-212-8225
View area homes for sale at http://www.sandiegohomes4u.com/MLS_Search.htm
Serving all your San Diego County Real Estate Needs
Let’s connect on Social Media…
http://sandiegohomes4u.com/blog/social-media-urls/

About Dennis Smith

Dennis Smith has written 261 post in this blog.

Dennis and Sunshine Smith are Realtors with RE/MAX BY-THE-SEA in the San Diego area. We have the Local Knowledge and Expertise by assisting buyers, sellers & investors in San Diego County since 1994. http://carlsbadLifestyles.com/

About Dennis Smith

Dennis and Sunshine Smith are Realtors with RE/MAX BY-THE-SEA in the San Diego area. We have the Local Knowledge and Expertise by assisting buyers, sellers & investors in San Diego County since 1994. http://carlsbadLifestyles.com/
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