US Homeownership falls in first quarter of 2016
The United States Census Bureau just reported that for the first quarter of 2016 US homeownership actually fell to 63.6%! As a comparison, the homeownership rate it a high of 69 4.4% in 2004 during what many consider the biggest housing boom in US history.
Currently the US homeownership rate is now only 1/10 of one basis point higher than the all time low heat in the second quarter of 2015! Read more
New home sales fall in March
Even in light of historic low mortgage rates new home sales have been for the third month in a row. March figures which were just reported, show that new home sales were down 1.5% according to the Commerce Department’s report.
Home sales fall
The rate of new home sales as steadily dropped since January 2016. The Commerce Department’s report also showed a huge sales dropped for new home sales in the West. The West showed a drop of 23.6% in March. The only good news in this report as far as new home sales go was the fact that on a year to date pace compared to 2015, we are slightly ahead in the number of sales this year. Read more
San Diego Housing Bubble 2016
Is there a San Diego housing bubble that’s going to burst sometime soon?
Usually it would be very rare on a real estate agents or real estate broker site that have a post about the possibility of another real estate bubble. But, with that said real estate brokers and real estate agents are not economist and basically we in a sales industry, where to be successful you must be optimistic. Now, there’s nothing wrong with being optimistic about your industry. The problem is when industry insiders become overly optimistic and operate with a set of blinders.
This is exactly what happened in the San Diego real estate bubble that started in 2005. I was lucky enough to be one of the very few San Diego real estate professionals who in the summer of 2005 wrote extensively about what I saw as an eminent San Diego real estate market crash. Read more
San Diego Realtor lockboxes
Sentrilock Realtor LockAt the Board these cost over $146 + Tax
I have 10 of these lockboxes. Some are totally brand-new, never used. Most have brand-new batteries installed.
Just $100 each while they last.
Home Prices Jump
The S&P Case-Shiller home price index was just released. And he showed that nationally the average residential home price increased in January and now show a annual rise of 5.7%!
It seems that because all of our shortage of supply in the residential housing market home prices that are now rising at twice the rate of inflation!
Here in San Diego California home prices rose by 4/10 of 1% from December 2015 to January 2016 according to the Case-Shiller report. Actually that increase was 2/10 of a percent lower than the monthly increase reported by Case-Shiller for the period of November to December 2015. But, on an annual basis home prices in San Diego according to Case-Shiller have increased by 6.9% substantially over the national home price increases. Read more
Real Estate Agent San Diego
With over three decades of residential real estate experience, hiring Bob can ensure that you get the best possible price whether buying or selling real estate in San Diego California. Real Estate Agent San Diego Bob Schwartz:
If you are considering buying or selling San Diego real estate you are entering into what for most people will be their biggest monetary transaction of their lives. There is a big difference between a California real estate agent and the California real estate broker. Read more
Californians Vanishing Disposable Income
Just a couple weeks ago I spent the weekend gold prospecting in the Yuma Arizona area. Every time I go to Arizona, I’m always amazed at how much lower their gasoline cost is then our gas cost here in San Diego California.
I took this picture on a Sunday on our way back home to San Diego. When I got back home, I compared the Yuma unleaded gas price to three stations that I passed by here in San Diego.
I noticed that the San Diego price of gasoline on that particular Sunday was at least $.95 a gallon more than what we paid for a gallon of gas just three hours earlier. The highest price difference that I noted was about a dollar five cents a gallon more. Read more
San Diego real estate agent
Using real estate facts in a lighthearted way to get my message of real estate experience to potential clients.
With over 30 years of residential real estate experience I can ensure my clients the best possible real estate deal whether buying or selling San Diego real estate.
Sure, almost any California licensed real estate agent can put your property in the MLS or drive you around and show you homes in a specific neighborhood.
But when it comes to knowing the best way to negotiate for the current market condition, or how to properly price your property to ensure the maximum potential price within your timeframe, that’s where my 30+ years of residential real estate experience really comes in to benefit my clients. Read more
Interest Rates Outlook
Peter Schiff on Fox Business – Interest Rates & Economy bull and bear debate.
Its amazing Dow is down right now again hovering between 15,900-16,500 when just two weeks to a month ago it was just under 18,000. I think Peter has hit the nail right on the head. My friend got hired a few months back at Lowes and was fired a week BEFORE Christmas. They said it was just seasonal. That really got my attention because you would think in a healthy growing economy you would need the extra labor throughout the holidays and even perhaps a week or two maybe even a month after with all the orders and packages …. guess not! Read more
Housing Prices Increase
Last month housing prices moved up the most in Colorado and Washington. The year over year price increases for Colorado were 10.4% and in Washington state home prices increased on a year-over-year basis in December I 10.3%. Yes, Colorado and Washington state posted the largest year-over-year housing price increases for the United States.
The best housing price increases on a year-over-year basis as of December 2015, after Colorado and Washington, were followed by Oregon which showed a 9.1% increase, Iowa with an 8.6% increase and Nevada with an 8% increase.
Now, when you exclude distressed properties from the December housing price data, the states with the largest year-over-year price increases does change slightly. In order of the best twelve-month housing price increase, Colorado still remains first, but now with a slightly lower average 9.7% increase. Also, Washington State and Oregon retain their second and third positions but now with 9.5% increase for Washington and a 9.3% increase for Oregon. In fourth position we now have New York State at 8.5%, followed by Nevada at 8.3%.