San Diego Home Prices Increase
San Diego home prices
Today, the S&P/Case Shiller Home Price Index was released for January (index is calculated every month and has a two-month lag). The 20-area index real estate home sale prices report showed declines in 18 of the major metro areas, with just San Diego and Washington, D.C. showing home prices increases.
San Diego Housing Market Bottom?
San Diego housing market
Home prices are still a bubble compared to historic norm. According to Case Shiller index, we are still 20% above long term averages. Typical bottom comes at 20% below average. But this is not your typical recession. This is a deflationary crash. This is Great Depression material. These averages themselves are based on a money supply that was inflated by borrowing for many decades. When the money supply deflates, existing prices and salaries cannot be sustained.
Past generations paid less for housing compared to their income. Whatever you do, do not get into too much debt. If you want to buy, buy cash down or with a large down payment. Even if prices do not fall, in many cases, renting can be cheaper if you consider mortgage interest, property taxes, condo fees, maintenance, lost interest/investment income…
San Diego real estate
San Diego County Home Prices and Home Sales Drop
The median price of a home in San Diego County in February fell 4.3 percent according to a report issued byLa Jolla-based MDA DataQuick. DataQuick also reported that Home sales in San Diego County dropped 5.5 percent in February, compared to the same month a year ago.
DataQuick President John Walsh said about this report: “This spring we’ll see an infusion into the market of more traditional buyers, who aren’t necessarily purchasing with an investor mindset. If the stars line up right — low prices, low mortgage rates, available credit, higher job growth and higher consumer confidence — we could see sales shoot back up to more normal levels.”
Downtown San Diego condominiums
San Diego – The Ideal Location For A Solar Home
San Diego solar electric homes
With San Diego’s ideal sunny weather and high electric rates, adding solar to your home could not only pay off in lower electric bills, but, also add to your home’s resale desirability and value.
There are many affordable options to convert your home into a solar home and solar energy technologies can supply for several different uses in a solar home. Passive solar design can provide heating, cooling and natural light for your home. Solar electricity options are available to power home appliances and solar water heating can provide hot water options for laundry and general household water use (showers, cooking, cleaning). When planning a solar home it is important to consider which solar energy options are most efficient, and cost effective for your situation.