San Diego Anti-Landlord Ordinance
San Diego Anti-Landlord Ordinance
Critics of the tenant protections and regulations view them as overly burdensome for landlords, potentially hindering their ability to manage their properties or make a profit. Some argue that these regulations discourage investment in rental properties, reduce the supply of affordable housing, and ultimately lead to higher rents.
Until you clean up the vagrants oops I mean unhoused tent people, you will only have a bust on those projects. Look at all of the buildings in Downtown San Diego, because of the thousands of “Unhoused” people, the people living in their apartments are being assaulted by the homeless vagrants and finding them “unhoused” people in front of your business leaving dirt and poo there should be the issue to solve before ever building more buildings that aren’t affordable. Read more 
San Diego real estate market Outlook 2018
San Diego real estate market Outlook 2018
As I write this, the final figures for the fourth quarter of 2017 are not in yet. But it seems that a number of insiders believe that the average home appreciation in San Diego will be approximately 7.2% for 2017.
One major real estate tracking analytical firm has come out with for projection of average appreciation for 2018 in San Diego California of approximately 4.2%. so, you may be asking yourself why the three percentage point drop in the forecast for home appreciation for 2018? I’m going to give my opinion here with my thoughts on why the San Diego home values will not be a strong this year as they were in 2017. Naturally, I’m just a real estate broker and not an economist. But, with that said I’m sure if he got 10 economist in a room and asked them what they thought the average appreciation for San Diego real estate would be in 2018 you would get 10 different opinions.
So, here is my personal opinion on what I see for the San Diego residential real estate market in 2018: Read more
San Diego Real Estate – A Bottom … Not A Reversal
When the San Diego real estate market hits bottom, it will be just that, a bottom, not a reversal. Don’t believe that home prices will spike up and shoot back up to pre-bust levels any time soon! I find that highly doubtful even if the economy were healthy in other sectors because who is going to fuel this reversal? Will it be the people who have foreclosures and short sales on their credit history, or another group of salivating sub-prime buyers?
Credit is tightening up to the point that home buying is truly back to where you actually have to put 5 to 20% down and have a decent credit rating. That will restrict the pool of available buyers considerably, which will prevent another ridiculous up-ride on the home price roller coaster.
The “bottom” will be the new median home price, according to what the local marketplace and income levels dictate, with modest year to year appreciation.
Until the ‘real’ bottom is reached in the San Diego real estate market, expect many false upward spikes driven by people looking at only one set of data and incorrectly timing the best time to buy.
Related prior posts:
#1 Key To Purchasing Real Estate in the San Diego Market
San Diego California Home Sellers Lose Big
The San Diego California Real Estate Great Depression
Believe the local San Diego ‘experts’ that subprime delinquencies are slowing?
San Diego County Foreclosures up 125% from 2007
Jumbo Financing and the Impact on The San Diego Real Estate Market
Another Look at the June Rise in Pending Home Sales
San Diego Home Prices
San Diego California home prices
In yesterday’s San Diego Union Tribune the main story in the business section was titled “County and state home prices facing a ‘double dip’ They’re up from last year, but heading downward, Zillow and Realtors report“. I give credit to the Union for reporting the facts, but to toot my own horn, here is part of what I said back in this blog on 5-1-10, in a post titled San Diego California Home Prices … Worst is Over : “I believe the government tax credits (which may be mostly speeding up sales that would have occurred normally) and the fact that a huge number of loans were due to have their first adjustment this year, could cause a double dip in San Diego housing values.”
My point is that if you want a good indication about the current and future San Diego California home prices, you would be wise to get a free subscription to this blog.
Here are some facts from the most recent Seattle-based Zillow company report:
- San Diego and four other California markets were the only ones nationally that posted price declines in the third quarter after five quarters of increase.
- Zillow figures San Diego values are now 31.1 percent off their peak of $538,100 set in September 2005.
- Zillow’s figures for San Diego in the third quarter showed an overall home value of $370,600, up 4.2 percent year over year but a 0.7 percent decline from the second to the third quarter and 0.3 percent decline from August to September.
- Nationally, home values declined 4.3 percent year over year and 1.2 percent quarter over quarter. They have declined for 17 consecutive quarters and are down 25 percent their peak.
- 23.2 percent of single-family homeowners nationally owe more than their homes are worth.
The San Diego California Real Estate Great Depression
San Diego California real estate property values in many neighborhoods have now surpassed the average nationwide 30% drop seen during the1930's.
San Diego California resale condominium appreciation
In the table below, www.brokerforyou.com looked at selected San Diego neighborhoods that
had 10 or more closed sales in July 2008 & 2007.
The sales data was compiled by DataQuick Information Systems & published in the 8-24-08 edition of the San Diego Union-Tribune.
One should keep in mind the above chart is just for a one year period (July 2007 vs. July 2008) and
San Diego home values topped out around the Summer of 2005!
Below is a similar chart Brokerforyou.com produced and published in 2007 & comparing San Diego condo values from July 2006 to July 2007.
When one compares the condo value drops from the above chart with our latest chart for 2008, the magnitude of the real value loss can be clearly seen. As an example, in Clairemont for the latest one year period the value loss was 36.2%. Now add that to the approximately 20% loss show directly above, and we have a two year loss of just over 56%! The college area condo value drop from 2006 to 2007 was very modest. But, for the latest one year period alone it was down a starraging 51.6%!
Lastly, I would note that these figures do not take into account the very prevalent seller concession (usually payment of thousands in the buyer's closing costs) necessitated by an ultra strong buyers market place.
A few of our related prior posts were:
Yale Professor … House Price Decline Could Be Worse than Great Depression
Survey Says Home Values Must Fall Another 14%
Jumbo Financing and the Impact on The San Diego Real Estate Market
Believe the local San Diego ‘experts’ that subprime delinquencies are slowing?
More homeowners than ever are selling at a loss!
San Diego County Foreclosures up 125% from 2007