San Diego Existing Home Sales
San Diego County detached home sales for January 2017 where the highest since 2013! When compared to January 2016, the San Diego County detached home sales were up just slightly by 49 homes.
The real big news for existing home sales in January was that on a nationwide basis, they hit a 10 year high!
The National Association of Realtors (N.A.R.) reported this week that existing home sales jumped 3.3 percent to a seasonally adjusted annual rate of 5.69 million units last month. That was the highest level since February 2007!
Not only in San Diego, but for most of the major regional metropolitan areas, there’s been a persistent shortage of available homes for sale. It is this lack of housing inventory that many in the real estate industry believe is the major cause of the escalating home prices even in the face of increasing mortgage rates. Read more
San Diego Real Estate Site for Sale
18 year old San Diego California real estate is for sale. This site www.brokerforyou.com is now for sale!
Most search engine optimization optimization specialist agree that older sites rank in the search engine results much better than newer sites. Also sites that concentrate on one topic and have a large amount of unique content rank better in the search results when compared to smaller sites.
Just take a look below at ourmonthly unique visitors to this San Diego real estate website! we no longer have an MLS search function on the site nor do we have a lead capture page. With these two upgrades made, with the huge directed San Diego real estate traffic that this site generates it would be hard to believe that at least a few completed transactions could not be directly attributed to the website.
Here in San Diego the average residential home price is over $500,000! Just as an example, let’s say just one new sale per year could be attributed to this website. Also, let’s say that the generated real estate business was a listing and the sale was generated by a cooperating broker. That would mean, that the owner of the real estate site, naturally assuming that they are a California licensed real estate broker, would receive half of the commission. Again to be ultra realistic let’s say that the commission on this one generated real estate transaction was just 5% and that was split 50-50 between the listing office and the sales office. Well, at a $500,000 sale price, this example would result in a $12,500 commission!
It’s not only the unique traffic that’s important to this site it’s that this site is totally focused on generating traffic specific to the San Diego real estate market. Personally I’d say with this type of unique traffic, www.brokerforyou.com has to be one of the busiest San Diego real estate sites!
FHA Home Mortgage Delinquencies Jump
Just reported that in the fourth quarter of 2016 the Federal Housing Authority reported that home mortgage delinquencies increased for the first time since 2006. It should be kept in mind that this home mortgage delinquency jump comes at a time when the FHA was seeing the lowest home mortgage delinquency rates since 1997!
It’s fair to say that the majority of economists were surprised by this home mortgage delinquency junp. Naturally, it’s way too soon to determine if this is just a blip or the start of an ominous trend. Read more
San Diego Home for Sale
View Home 4Br./2Ba + three car garage, family room, home office with dedicated electric line and private side entrance.
San Diego Vista Del Cerro 4Br. View home for sale.this home is in the Vista Del Cerro neighborhood. It’s a one story home with a three car garage and a lightweight metal roof that looks like red tile.
Because the an enclosed patio, that runs the width of the home, that has been professionally enclosed, there is an additional non-permitted approximately 495 ft.² of functional space. This additional space is added to the family room, the master bedroom and also created a private office area with direct access from the side of the home. The office area has a dedicated electric line installed. Read more
San Diego Housing Market Analysis
©2016 By Mark A. Melikian California Certified Residential Appraiser firstname.lastname@example.org P.O. Box 3051 Del Mar, California 92014 858-945-8996
The following is a market data summary of detached and attached properties as reported by the San Diego County MLS system. The data includes all zip codes in San Diego County. All projections discussed in this analysis will be updated throughout the year in subsequent quarterly reports.
San Diego Housing Market Overview: The data provided analyzes residential real estate sales beginning in the year 2000, which is used as the base year. The number of sold listings in San Diego County peaked in 2003 at 42,746 units and decreased through 2008 to 23,972 units. In 2016, the total number of units sold for the year was 36,236, up from 35,232 sales in 2015 (see Figure 1).
Market Overview: The monthly absorption rate (number of units sold in a given month) will mirror the trend we see in the number of sold listings. The peak monthly absorption rate occurred in 2003 with 3,562 units selling per month. In 2008, the monthly absorption rate decreased to a low of 1,998 units. The 2016 monthly absorption rate was 3,020 units, up from 2,936 units in 2015 (see Figure 2). Read more
www.brokerforyou.com – Website Traffic
For last month, www.brokerforyou.com, received over 27,000 unique visitors!
For those of you who may not know the difference between unique visitors and hits, there is a tremendous difference. Unique visitors are one visit to the website counted per unique IP address in a 24-hour period. Website hits, are just the number of individual image or graphic segments that load when a page is accessed. So, if you look at the chart above, you’ll note that for December 2016, www.brokerforyou.com received 27,437 unique visitors! If you look over on that same row to the last column that’s titled ‘hits’, you’ll see that we had 151,510 hits for December 2016. The huge disparity here is because if one page has 20 or 30 graphic elements that load when the page is accessed, you may have one unique visitor for that day, but, it would show that you had 20 or 30 hits. This is why the amount of hits that a site gets, is really irrelevant. Read more
The Trump Real Estate Effect 2017
I’m writing this in the first week of January 2017 and even though where a couple weeks away from the inauguration of Donald Trump, speculation abounds as to how his presidency will effect the real estate market.
While this speculation is going on, a dramatic effect on real estate is happening because just a couple of weeks ago the Federal Reserve Board increased interest rates. But, as I’ve said before, more importantly than the Federal Reserve Board’s interest rate increase was the fact that they stated that they would be raising the interest rates three more times in 2017.
Here in San Diego, with the average residential home price around half $1 million, it is already extremely hard for the majority of working people here to qualify for a home mortgage unless they put a substantial down payment. Naturally, as interest rates increase this will only make the situation worse. Read more
Happy New Year
One of the true joys of the Holiday Season is the opportunity to thank you and wish you the very best for the New Year.
I truly appreciate your contributions to my real estate career success.
May you and your family enjoy a Wonderful Holiday Season and a Happy New Year!
Bob, Judi,Jared,Oakley &Annie
2017 Real Estate Mortgage Outlook
As I’m writing this in mid December 2016 the Federal Reserve Board just hiked short term interest rates inthis past Wednesday. This quarter percent interest rate hike was pretty much universally anticipated, and so did not come as a surprise to the financial community.
What was a surprise to many was the fact that the Federal Reserve Board stated in their Wednesday meeting minutes that they anticipate to raise the interest rate at least three times during 2017.
We all know that rising interest rates are a damper on the real estate market. But, usually when rates first increase, like this Wednesday’s move after a while of inactivity or decreasing rates, the residential real estate activity actually picks up. Some attribute this uptick in the fact that it motivates many potential buyers who had been considering a purchase as well as new buyers entering the market to get their purchase closed as soon as possible so as to avoid any continuing rate hikes.
With the federal reserve actually stating that it anticipates three more rate hikes in 2017, I personally feel that in a month or two, when the real estate statistics are published, we are going to see a big increase in residential sales activity at least for December 2016 through March 2017.
So, right now interest rates for a 30 year fixed rate mortgage were averaging approximately 4.16%, this was up from 4.13% just last week. Now, if we go back a full year, around December 2015 the 30 year fixed rate home mortgage was averaging approximately 3.97%. When one looks at these rates in comparison, the recent Federal Reserve rate hike did not really have a dramatic affect in the 30 year fixed rate home mortgage rates. Read more
2017 San Diego real estate forecast
Just yesterday the stock market was up over 297 points continuing the post-election stock market rally. Also, interest rates and home mortgage rates have been increasing and the 30 year home mortgage hit 4%, the highest since July 2015.
In a recent report by Realtor.com, their ‘Realtor.com®’s 2017 Housing Forecast – Top 100 Metros’ of the 50 United States top metropolitan areas, when based on a combination of home appreciation and sales increases, this report forecast that San Diego California will be number 15. Realtor.com in this 2017 housing market forecast is showing that San Diego is projected to have 6.5% housing price increase.
*Note – the above 2017 housing forecast is just that, a forecast or outlook. So, this could be way off from the way the 2017 real estate market actually plays out. A good example of how what many thought was an accurate forecast, and actually the majority view can be totally off was just prior to the election, many forecast the stock market would crash and the economy would tank if Donald Trump was elected. Well, just like the majority forecast of Clinton win up until 9 o’clock or so of the election night, their forecast about the economy and the stock market has been exactly opposite of the reality! so even though this forecast is by a respected leader in the national real estate market, doesn’t mean that you should act on it without first consulting your own legal and financial advisors.