2Br.+Loft/3Ba La Jolla Colony University City Home Rental
4130 Caminito Davila, 92122 – $3,480 mo. on a one year lease.
Beautiful, recently renovated home in a park like quiet location and very serene backyard. just steps away from the community pool and spa.
Close to UCSD, restaurants, parks, canyon, beaches, shopping, and freeway access. Minutes to anywhere in San Diego. Read more
Fed Raises Rate Again!
Today the Federal Reserve Board announced its first interest rate hike for 2017! today’s interest rate increase is the second one by the Fed in three months!
This interest rate increase was a quarter of 1% and comes after the Federal Reserve Board increased the interest rates in December by a half of 1%.
When the economy is doing good and expanding its typical that the federal reserve will try to check inflation by increasing interest rates. Read more
Most Expensive Home in New Jersey
Stone Mansion in Alpine, New Jersey is on the market for $50 million dollars, making it the most expensive home on the market in the state.
Maintenance would be ridiculous. I can be barely bothered cleaning my room. imagine cleaning this whole house every month.. and then the gardening. No thanks. you’d need another 50mil to keep this abomination going without it going to pot. Just changing all the light bulbs alone wouldn’t be cheap. Read more
Huge Home – Huge Asking Price Reduction
Well, back in 2015 this California estate was listed at $100 million! In case you didn’t guess it this is Michael Jackson’s Neverland Ranch in Santa Barbara. Now the property is called Sycamore Valley Ranch, and it contains 22 structures on approximately 2,700 acres!
The big news about this California ranch is the fact that it’s just received a $33 million price reduction! Yes, now they can get this great property for just $67 million! Michael Jackson purchased the property back in 1987 four $19.5 million! Read more
Another Real Estate Bubble?
Back in November 2016 I wrote an article about red flags that I saw pertaining to the United States commercial real estate market. If you missed that article here is the direct link: Real estate bubble 2017
Well, just this week I saw another red flag pertaining to the commercial real estate market. Yes, take a look at the photo to the left. I purchased an electronic device last Sunday from Amazon. I ordered it online about 8 o’clock in the morning on Sunday. As you can see from the bag, the online order form showed that it would be delivered between 12 and 2 PM (actually arrived at 12:30 PM) the same day. Now, as a prime member, there was no additional cost for this super quick delivery service.
I didn’t realize it at first, but the experience was so easy and so fast, I now believe that this is a definite danger for the large shopping malls. My article about the real estate bubble that I posted in November 2016 was about real estate limited partnerships (REITS) many of which invest in all types of commercial shopping centers and strip malls. So, for me personally, and I would venture to say probably quite a few other people, when ordering online, not only do you have the convenience and a very competitive price, but think of the time saved from having to go to the mall, find a parking space, fight the crowds and finally waiting at the checkout line before heading back home. Therefore, I really believe that this fast shipping service that Amazon has incorporated and I understand some other big online merchants are looking into, is going to spell big trouble for many shopping malls and thereby the REITS that invest in them.
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 email@example.com 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