San Diego’s New Eviction Rules
San Diego’s New Eviction Rules
Landlords in San Diego are not happy with the new proposed eviction rules in the city.
They say that the eviction rules will force landlords to leave properties neglected rather than doing updates and repairs, because a permit will be required if they desire to evict a tenant at the end of the lease to do updates. Read more 
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
Vacant Housing Inventory
Vacant Housing Inventory
The deluge of Inventory could be worse than the Subprime Housing Crisis in 2008.
Real estate investors are unloading vacant home inventory on the US housing market. Read more
Real Estate Market Recovery
Real Estate Market Recovery
With nationwide lockdowns beginning to lift, buyers and sellers who took a pause during the COVID-19 pandemic are starting to venture out into what used to be the hot summer home-buying market.
The economy and the housing market continue to see signs of improvement—particularly in terms of buyer demand. The labor market impacts continue to shrink while mortgage applications and showing appointments continue to improve. More REALTORS® are closing deals and helping their clients to purchase homes. Read more
San Diego Real Estate Outlook
San Diego Real Estate Outlook
Since the fourth quarter of 2017 the San Diego real estate market inventory has been increasing. Now, it’s still not back to normal, at least not yet. But, the San Diego real estate market has softened as the amount of salable inventory has increased. With rising home mortgage rates being offset somewhat by our strong economy, the immediate outlook for our San Diego real estate market remains clouded.
San Diego real estate market analysis – San Diego Real Estate market facts and opinion. The San Diego California real estate market has seen some tremendous home price appreciation over the last couple of years. One of the main driving factors for San Diego home appreciation has been a huge imbalance in the amount of homes available for sale. This severe shortage of inventory (well at least in the under the $1,500,000 price range) has now been easing, well at least since the fourth quarter of 2017. Read more
California’s HOT Real Estate Market
California’s HOT Real Estate Market
Data from the California Association of realtors shows that the average residential detached home sales price it $605,000 in December 2017! in January 2018, the average residential detached home in San Diego selling price was actually a little lower and came in at $590,000!
California’s HOT Real Estate Market
Now, $590,000 for the average detached home in San Diego is a hell of a lot of money! But, for comparison purposes, out of the six Southern California areas ( Los Angeles, Orange,Riverside, San Bernardino, San Diego, and Ventura) in this report, San Diego actually came in and third-place. of the six Southern California areas in the report the average residential sales price for a detached home was the highest in Orange County, at a staggering $780,000! in second place, was Ventura at $660,720. the lowest priced average home sale for the six areas studied in Southern California was San Bernardino, which came in at $277,000. Read more
San Diego Housing Market Analysis 2017
San Diego Housing Market Analysis 2017
San Diego County Residential Real Estate Market Analysis: 3rd Quarter 2017 ©2017
By Mark A. Melikian California Certified Residential Appraiser appraisals@san.rr.com P.O. Box 3051 Del Mar, California 92014 858-945-8996
The following is a market data summary of detached and attached properties as reported by the San Diego County MLS system. The data includes all zip codes in San Diego County. All projections discussed in this analysis will be updated throughout the year in subsequent quarterly reports.
Market Overview: The data provided analyzes residential real estate sales beginning in the year 2000, which is used as the base year. The number of sold listings in San Diego County peaked in 2003 at 42,746 units and decreased through 2008 to 23,972 units. Based on data from the first three quarters of 2017, the projected total number of units sold for the year will be 38,431, up from 36,236 sales in 2016 (see Figure 1).
Interest Rates Increase
Interest Rates Increase
For the second time this year the Federal Reserve Board has raised interest rates! it was March 15, 2017 that the Federal Reserve first raised interest rates this year. If you’d like to see that story on the first Federal Reserve rate increase, click this link: Fed raises interest rates
Although this was the second interest rate increase this year, it was also the third interest rate increase in the last six months! Read more
California Home Hunting
California Home Hunting – The Millennial Home Buyer
This is a very humorous, and unfortunately very true ( especially here in California)Â Â depiction of a young millennial trying to buy his first home.
I’m sure some might think this is true of our current housing market situation in California . . . and it is! but, the overpriced housing market in California has been around for decades! what’s different now, is the fact that due to a shortage of available, and affordable homes in California the situation has been compounded in the last 2 to 3 years.
The last time I was working with a millennial couple looking for a two-bedroom condominium here in San Diego, it took over a year, and three different offers on properties, before we were able to close escrow on their first home.
Now, keep in mind that my first-time home buyer clients were well qualified for their price range, and with help from their folks were putting 20% down. Yet it was very frustrating to find a decent property that did not have multiple offers on it within days of its original listing.
Home Values Growth – Fastest Rate in Nearly Three Years
Home prices up at fastest rate in nearly three years!
Home Values Growth – Case-Shiller index sees fastest growth since mid-2014.
In just one word, HOT, describes the US residential housing market right now!
Sure, there are many out there right now for forecasting the US housing bubble, or in the very least, a topping out for the momentum in the housing market. But, according to the latest S&P/Case-Shiller 20-city index report, it would seem that these negative forecasters are 180° off base! the latest S&P Case-Shiller 20 city index was up 5.7% when compared to the same time period last year. Read more