San Diego Home Prices
This increase in home prices was slightly below the average for the 20 city index tracked in this report. The average for the 20 cities tracked for April was 4.9% residential home price appreciation. Read more
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San Diego home price appreciation
In a it was shown that San Diego home appreciation continued in April at a rate of 5.3% over April 2014. Surprisingly, San Diego’s home appreciation was lower than the national average for April, which came in at 6.8%.
The fact that home mortgage rates remain under 4% has been a boost to the housing market and home appreciation throughout the country. The other main factor affecting home appreciation is the fact that here in San Diego there is a supply demand imbalance. There is a shortage of homes for sale creating a very tight market. Read more
San Diego Real Estate Market
The San Diego real estate market is one of the hottest markets. currently for home sales, based on recently released industry reports. To clarify, were talking about the length of time the average MLS home listing takes to sell. Naturally, this just means the time that it’s shown on the market that an offer has been accepted, the final closing usually occurs within 30 or 45 days from the acceptance. How quick a MLS home listing has an accepted offer on it is the number one indicator of the strength and popularity of real estate in any city. Read more
San Diego Home Prices Gain
Home resale values rose 5.1 percent from January 2014 to January 2015. The pace is down from the 19.4 percent annual growth seen in January 2014.
Luxury Homes made more expensive by new zoning restrictions.
With some cities tightening zoning rules, unique homes that predate the code revisions may have an edge in the resale market.
Although the trend to build mega-mansions and mini-mega-mansions has subsided, various cities are enacting new zoning restrictions against them. It would seem that these new restrictions are actually boosting the resale values of the existing luxury homes.
First Time Home Buyer Online Education that Pays
Fannie Mae has a new online first time home buyer education course, the HomePath®Ready Buyer™ program, qualifying first-time homebuyers to receive up to three percent of the purchase price in closing cost assistance toward the purchase of a HomePath property, upon completion of an online homebuyer education course. Fannie Mae also will reimburse the $75 cost of the home buyer education course at the time of closing.
“Purchasing your first home can be an overwhelming process,” said Jay Ryan, Vice President of REO Sales, Fannie Mae. “We developed the HomePath Ready Buyer program to provide first-time homebuyers with the knowledge to make informed decisions as they navigate the complexities of the home buying process. Closing cost assistance provides a cushion many first-time buyers need to more confidently face the financial responsibilities of homeownership.” Read more
Real Estate – Millennials Prefer Suburbs
I’m sure this current survey showing that millennial’s prefer suburban living versus the downtown city lifestyle will cause much anxiety within the bureaucratic social engineering crowd.
Here in San Diego, there is no doubt that local government would love to have the majority of the populace be concentrated within the city boundaries. Sure, urban versus suburban living has its advantages as well as disadvantages. Bureaucrats and realtors could argue the pros and cons for an eternity. But, in my eyes. It boils down to the fact that beauty is in the eye of the beholder. Read more