Housing Market Good News
housing market
The Commerce Department reported today that U.S. housing starts surged in September at their fastest annual pace in 17 months!
Single-family home construction, which accounts for a larger share of the market, increased 1.7 percent while buildings with two or more units rose 51.3 percent.
The largest increase in housing starts was for multi-family units.
Well, like any good news in today’s housing market, one should be kept in mind that even with this jump in housing starts, the total level of housing starts is still very depressed and has been so for the past three years.
San Diego Real Estate Market Forecasting
Real estate market outlook
Real estate market opinions just like political opinions are highly debated and often is unclear who is correct. But, the passage of time always proves who was correct. Read more 
Home Sales Decline in May
Home Sales
Home Sales Decline
The National Association of Realtors® reported today that Existing-home sales were down in May. Existing-home sales fell 3.8 percent to a seasonally adjusted annual rate of 4.81 million in May from a downwardly revised 5.00 million in April, and are 15.3 percent below a 5.68 million pace in May 2010.
Existing-home sales in the West were unchanged at an annual pace of 1.17 million in May but are 10.0 percent lower than a year ago. The median price in the West was $192,300, which is 12.6 percent below May 2010.
Naturally, the National Association of Realtors®, implies that severe weather conditions in parts of the country and tough qualifying conditions for new mortgages were him part, to blame for the sales decline.
One should keep in mind,that seasonally, this is the strongest marketing time for real estate. Also, interest rates are near historic lows, and there is a large inventory of homes for sale.
San Diego downtown condos
Government To Buy Distressed Homes
What would you say to the government purchasing homes from homeowners who’s values have fallen below the current sales value of the homes? Then add the fact that the government will build new homes for those evicted for defaulting on their mortgages! Yes, it’s all true! Read more
Real Estate Short Sale
short sales
What is a short sale? To put it simply, a short sale transaction is a sale of a property in which the outstanding debt (in the form of mortgages – such as purchase loans, refinance loans, home-equity loans, or one of the various other types of loans secured by your property) was more than the price for which the property was sold. Example: 1st and 2nd mortgages totaled $470,000.00 and the property was sold for $325,000.00. The sale price was $145,000.00 “short” of the amount that the seller had originally borrowed – thus the term “short sale.” Since the banks/lenders were essentially paid back less than what you borrowed, you could be deemed to have received a debt “forgiveness” of $145,000.00. A sale of this type requires bank/lender approval. 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.