California Real Estate – It’s Over!
California Real Estate – It’s Over!
Yes, I’ve seen this before in 2005. . .home prices still going up while home sales are falling!
For those of you who may not be regular readers here is the link to the first warning blog post that I put out; my first post where I called the real estate market top was June 15, 2021 (https://www.brokerforyou.com/brokerforyou/real-estate-market-downturn/ ) . On June 17 I had a follow-up post ( https://www.brokerforyou.com/brokerforyou/real-estate-market-bust/ ) where I added additional indicators, that to me showed that the market was in a topping phase right now! I put the links to each one of those prior post above, and would suggest if you’re interested, to reread those posts! Read more 
2022 California Real Estate Market Red Flags
2022 California Real Estate Market
The US government’s own statistics are very clear, the California exodus continues. 1.1 Million have fled the state since 2017!
First of all, let me say that I was wrong! Yes, I thought the California housing market would be well on its way into a major crash by now. I believe what was different about this time around, was the fact that California as well as the entire country, went on a huge money giveaway plan to try and stimulate the economy out of the covid mess. Plus, California seem to have endlessly extended the eviction moratoriums. So, I guess in one sense the government’s reckless spending spree, forestalled the inevitable and greatly contributed to the outrageous real estate appreciation of the last few years. Personally oh, it’s my opinion, that a lot of smart people (Elon Musk among them) decided that the best financial move they could ever make was getting out of California and moving their businesses to more business-friendly states. Read more
Is California headed for a huge economic collapse and housing crash
California housing crash
Five states that could be heading for a huge economic collapse and housing crash.
People are moving out of these states in droves. Job losses in these states are near record highs according to data from the Bureau of Labor Statistics. With government stimulus programs ending (eviction moratorium, unemployment assistance, and stimulus checks) and interest rates rising, these job losses could lead to a devastating economic downturn and housing crash.
California real estate market topping out?
California real estate market topping out?
Here in San Diego, we all know that the housing market has really been booming. In my opinion, it’s a combination of unbelievably low mortgage rates and low inventories of affordable housing. This has resulted in properly priced homes selling within a few days or at most a few weeks of being listed. It’s also commonplace to have multiple counteroffers and the property selling for substantially over the listed price.
The San Diego real estate market has reminded me of the effervescence that is often seen in stock market highs. But, this is just my humble opinion, from three decades in the residential real estate market. But now, the first signs of a market top have appeared in San Francisco California. Read more
Southern California real estate market
Southern California real estate market
There is absolutely no doubt that here in Southern California the residential real estate market has become a unlikely beneficiary of the Cove in 19 virus. Yes, the urban downtown areas seem to be less appealing to real estate investors these days because of the lockdown orders and the social unrest that so far has seen to be confined to the inner cities. The big beneficiary here, has been suburban residential real estate. Read more
Southern California Housing Market
Southern California Housing Market Weakest June in 5 years!
Sales fell 6.9% in June compared with May and were down 8% annually, according to CoreLogic. That is the slowest June pace since 2014. Historically, sales usually gain an average 5.8% from May to June.
The median price for all Southern California homes sold in June rose to a record $541,250, up 1.2% compared with a year ago. That is the smallest June gain since 2011.
Sales have been falling on a year-over-year basis for 11 straight months. Making the decline in sales even more surprising was the fact that home mortgage rates also fell more than 50 basis points over the past three months. Usually when home mortgage interest rates decline, housing becomes more affordable, and the entire residential housing market activity picks up.
Despite the lower mortgage rates and a healthy economic backdrop, the market was sluggish, suggesting many would-be buyers remained priced out or concerned about buying near a possible price peak,†wrote Andrew LePage, a CoreLogic analyst, in a release.
LePage noted one caveat — that there was one less business day in June compared with a year ago. Even with that adjustment, however, sales would have come in 5% lower annually. Read more
San Diego Real Estate Market Observations
San Diego Real Estate Market Observations
In this video I give my observations and opinions on the San Diego real estate market in mid-July 2017. actually, these are just my personal opinions so before acting on any of the information here I would advise talking with your accountant and financial advisor prior to making any real estate contractual commitments.
Well, with that said, I can say one thing for certain. That is this market does not look anything like the top of our San Diego real estate market did in the summer of 2005.
Driving the real estate frenzy that ended in the summer of 2005 was the ease of getting mortgages without stringent qualifications. in today’s San Diego real estate market home buyers really have to qualify to handle the mortgage payments. What’s really driving our current San Diego home price appreciation is the basic economic principle of supply and demand. Read more
California Real Estate Outlook
California Real Estate Outlook 2014
By Bob Schwartz, San Diego, California real estate broker
Although the last two years have seen a nice bounce back recovery in almost all of the California’s real estate markets, the last quarter of 2013 saw a pronounce slow-down in real estate sales. Many believe the sales slowdown to be a direct result of rising interest rates and the resulting increase in home mortgage rates.
For those interested in my Outlook for the San Diego real estate market in 2014, I suggest reading my article published on January 5, 2014, entitled 2014 San Diego Real Estate Market Forecast. Today’s article has more to do with underlying problems in California’s economy and what I see as a possible sure remedy that could turn California back into the ‘Golden State’. Read more
California Home Sales Improving
California Home Sales Improving
The number of days that it takes to sell a home has been decreasing as the real estate market is improving. Of the four fastest selling cities in the country, three California cities made the list.
In the country the average days on the market until the home is sold was 95 days. In Oakland, California, the average number of days a house remained on the market in September, 2012 was just 21 days! This was followed by the cities of Stockton and lodi, where the average number of days on the market before a home sold was43 days. The city of San Francisco came in third in the average number of days on the market at 44 days. Read more
California Home Sales Higher In February
California Home Sales
California home sales
According to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide, February’s home sales were up 2.1 percent from January’s revised pace of 517,120 and up 5.5 percent from the revised 500,480 sales pace recorded in February 2011. The statewide sales figure represents what would be the total number of homes sold during 2012 if sales maintained the February pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales.