Real Estate Market Feb 2015
The National Association of Realtors latest report on the housing market shows that home sales rose a modest 1.2% in February.
The home sales, inventory remains very tight and is limiting the selection of homes for first-time buyers. Last month the home sales inventory was down by half a percent. At this time of year the inventory of homes for sale should be averaging about 5.6%, according to the National Association of Realtors. Read more
Happy St Patrick’s Day
San Diego California real estate
Bob Schwartz San Diego real estate broker with over 30 years of residential real estate experience. – CA Lic. # 00706331
Put Bob’s 30 years of residential real estate experience to ensure that my clients achieve the best possible price marketing or selling residential real estate in the San Diego California real estate market! Read more
New California Real Estate Tax proposal
Well, saying that this is a new California real estate tax is not entirely accurate. What it is is a new proposal for a fee on all real estate sales in California.
Now, not being a lawyer, I’m not really sure what the difference is between a fee and a tax. But, the bottom line for this proposal is that if it is passed, every time a property transfers ownership, the state will collect this fee.
Pretty much my take on this is that every time California creates one of these new taxes or fees, they always start out low. Kind of like our gas tax and then slowly increase over the years. Read more
San Diego Home Prices
With today’s release of the S&P Case-Shiller Home Price Index report, which tracks residential home price appreciation in 20 major cities throughout the United States, San Diego home prices saw a 4.78% year over year appreciation for December 2014.
The S&P Case-Shiller Home Price Index report always has a lag time of two months. Some other notable facts in this report were that the highest year-over-year appreciation for December 2014 was seen in San Francisco, where they had a 9.3% increase. Coming in close second for best appreciation for the December 2012 year-over-year, was Miami at 8.4%. Read more
Rental cost show strong increases
According to an apartment research firm, January had one of the strongest national increases in rent seen since the post-recession period. According to this research firm January saw a very strong 4.9% annual rental increase as well as an equally strong 94.6% occupancy rate.
Naturally, here in California, we lead the nation in high rental amounts! Data from the January rental report also showed that some of the fastest growing rental increases were in Denver, Kansas City, Nashville, Portland, and Charlotte, North Carolina. Read more
Freddie Mac – 2015 Housing Market Outlook
A few highlights from this report:
Home prices to increase 3.9%. This is an increase from their prior report where they expected a 2015 home price increase of 3 1/2%.
A lower revised average 30 year fixed rate mortgage forecast of 3.9% for the year, versus their prior prediction of 4.2%.
Freddie Mac’s (Freddy Mac) chief economist stated:
“Despite the fact the yield curve has flattened, we remain optimistic about the course of the domestic U.S. economy over the next year. Read more
Home Improvements — Going Green
There has been a lot of talk about the Emergency Economic Stabilization Act of 2008,. But do you know what it means for you? If you use energy-efficient products in your home, the law expands and extends valuable federal tax credits for homeowners who make certain upgrades.
Benefits include lower home energy bills, increased indoor comfort and reduced air pollution. In addition, the energy-efficient products eligible for the new federal tax credits actually lower the amount of federal income taxes that taxpayers must pay Uncle Sam. Read more
Rental real estate investing
According to a recent study by really track real estate investors who own residential property in the United States earned an average annual return of 9.06% in the third quarter of 2014. Although this is a good return in light of the fact that most investors are earning under a half a percent on their CDs, this 9.06% was actually down from 9.56% in 2013, according to the study. Read more
San Diego Real Estate Traffic – January 2015
Last month this website had 33,674 unique visitors!