New Home Sales Off – Prices Up
New Home Sales
This morning the Commerce Department just reported that new-home sales dropped 1.6 percent in February to a seasonally adjusted annual rate of 313,000 homes.
New home sales have fallen nearly 7 percent just since December. The current pace of sales is less than half the 700,000 that economists consider to be healthy.
California Property Tax Scams
California Property Tax Scams
The second installment of San Diego real property tax was due February 1st and becomes delinquent after April 10th. If the delinquent date falls on a weekend or holiday, you have until the close of the next business day to pay your tax bill. So, with April 10th fast approching, San Diego homeowners should be careful of tax scams. Read more
California PROPERTY TAX REDUCTION SCAMS
California PROPERTY TAX REDUCTION SCAMS
Companies using official-sounding names like “Tax Review,” “Tax Adjusters” and “Tax Reassessment” seek to scam homeowners who are worried about their property taxes and declining property values. They send misleading mailers that look like official government agency documents to trick you into sending them money to try to lower your property taxes. Read more
Home Sales Increase
Home Sales
Bob Schwartz, real estate broker
The National Association of Realtors just reported that home sales increased 5 percent in December to the best level since January 2011 and the third straight monthly increase.
Home sales for2011, totaled 4.26 million. That’s up from 4.19 million the previous year, but, below the 6 million that economists equate with healthy housing markets.
The median home sales price in December rose 2.3 percent to $164,500. Read more
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