San Diego Real Estate Market 2011 Outlook – Forecast – News
San Diego real estate market forecast 2011
San Diego real estate market forecast 2011
San Diego Real Estate 2011 – Year of the Short Sale
It’s that time of the year: The real estate industry is rolling out the shop-worn playbook of optimistic forecasts for the New Year. In San Diego these canned phrases are:
- Solid signs of a firming market,
- With interest rates near all-time lows,
- Buying now is a no-brainer,
- Get in now, before the huge pent-up demand for homes hits,
- What a great time to buy with low interest rates and a good supply of homes for sale,
- Act fast now, or you may be paying thousands more in a few months.
We have heard these same phrases since 2005. The major difference was that in 2005 and 2006 many of the Gurus were adding phrases: Read more 
3 Worst Mistakes San Diego Home Sellers Make
brokerforyou.com
In today’s San Diego challenging real estate market, what seller doesn’t want to increase their profits upon the sale of their home? That seems to be a given priority, especially when so many have taken a negative hit to what was once greater equity. However, with this money making goal in mind, many sellers make huge mistakes in preparing to market and marketing their home. Some mistakes can cost thousands of dollars.
In my thirty-plus years of real estate, I’ve seen sellers try to take on the duties and responsibilities of a real estate broker in the mistaken belief that they can save a commission. Trying to sell their property on their own is the number one mistake sellers make.
The old saying, “penny wise and pound foolish,“ is very applicable to this situation. If you’re a business owner would you represent yourself at an I.R.S. tax audit? If your car had a transmission problem, would you try to fix it on your own? If you had a serious toothache would you just take aspirin for days with hope that it would clear up on its own? Most people would answer no to the above questions. Sure, there are a few who may answer in the affirmative on one or more questions. When the question of selling one’s own home comes up, it seems there is a much higher percentage of people who believe that they can confidently fulfill all the functions of a knowledgeable and professional real estate broker. Read more
Real Estate – Driving Community Satisfaction
Community Satisfaction
What makes people emotionally attached to their communities? A recent Gallup and Knight Foundation survey finds that a community’s social offerings, its physical beauty and its opened to new and different people are key features that make residents love where they live. These factors far outweigh economic considerations when it comes to attracting and retaining residents. The study also finds that residents who are more satisfied with their jobs are more likely to have a strong emotional connection to their community.
San Diego California real estate agents
San Diego Home Prices Up – Home Sale Down
San Diego home prices
The real estate reporting firm MDA DataQuick, reported today that the San Diego median home prices rose slightly by $500 from October to November to $335,000.
Single-family resale homes rose $1,000, from October to $370,000, which was 1.4 percent above year-ago levels. Resale condos also rose, though the $218,000 November median was down 3.1 percent from November’s $225,000.
That was the good news. The bad news reported in the MDA Dataquick report was that San Diego home sales were down for the fifth straight month in a row! The actual drop was 6.7 percent on a year-over-year basis. This continued drop in San Diego real estate sales is very troubling and for me, and a much more important fact than the modest price appreciation. If this trend continues, it’s just a matter of another month or so before the San Diego median home values also turn down.
Real Estate Market and The Kitchen Sink
San Diego California real estate market
The entire real estate sector continues to be supported by:
1) Government stimulus (tax credits),
2) Government guarantees of Fannie and Freddie,
3) Federal support of both the long end of the curve (MBS purchases) and short end (easy monetary policy),
4) Relaxation of mark-to-market accounting rules (banks continue to hold loans at book value, despite being backed by underwater properties), and
5) Government mortgage modification programs.
Seriously….everything has been thrown into this sector, including the kitchen sink…yet it continues its slow death. The only solution to all this is jobs. Without job growth of more than 200K+ per month at minimum, there can be no recovery in the housing sector…..and no recovery in the broader economy, period.
San Diego California real estate
San Diego Housing Problem is Getting Worse
San Diego housing market
The number of delinquencies is a dynamic that obviously changes relative to the environment. I apologize for not providing some insight into the hard numbers that your above post requests. Where are we in this process and how much of the problem has already been written off? Is it getting worse, better, or going to be the same and for how long? Read more