San Diego Home Sales Rise – San Diego Home Prices Fall
San Diego California home prices
Today, DataQuick real estate information reporting services of La Jolla Ca. reported that San Diego home sales increased by 20% , while median San Diego home price dropped 15.1% in June 2009 vs June 2008. Also, this same report showed home sales in the six-county Southern California region in June increased 29% over June 2008. But, here too, for the region, home prices dipped 26.4 %.
John Walsh, MDA DataQuick president talking about their report, said: “The rising median should still be viewed mainly as a sign the market’s moving back toward a more normal distribution of sales across the home price spectrum. Sales in many higher- cost neighborhoods couldn’t have gotten much lower, so this recent uptick in activity should come as no surprise. The recession and problem mortgages are fueling more high-end distress, hence more high-end `bargains.’ What’s missing, still, is a wide-open financing spigot for the would-be buyers of these more expensive homes.”
Federal Energy Compliance Audits on Every Home Sale?
housing market
I have written prior posts on the Cap and Trade Bill and it’s effect on the real estate market because of the mandated home energy audit on the sale of any home.
Recently, I have received input from fellow Realtors that the energy audit provision for home sellers was removed from the bill. Good news, but not the whole story. Though the National Association of Realtors was effective at having this legislation removed from the original bill, this effort does NOT prevent the government from instituting audits at a later time, perhaps after Obama’s re-election!
These audits could cost of thousands of dollars to home sellers. Look at the CURRENT provision now in the current bill:
H.R. 2454 Page 350 – Line 13 – The Administrator shall develop and implement standards for a national energy and environmental building retrofit policy for single-family and multifamily residences …. to facilitate the retrofitting of existing buildings across the United States to achieve maximum cost-effective energy efficiency improvements and significant improvements in water use and other environmental attributes ….
Obama’s big mistake … not pushing harder, like on the Tarp bill and getting Congress to approve the bill WITHOUT any law-maker reading a thousand+ page bill!