Home Prices Strongest in Seven Years
Home Prices Strongest in Seven Years
In the just released quarterly report by National Association of Realtors® A growing number of metropolitan areas had higher median home prices in the fourth quarter, and the national home price showed the strongest year-over-year increase in seven years!
The median existing single-family home price rose in 133 out of 152 metropolitan statistical areas (MSAs) based on closings in the fourth quarter compared with the same quarter in 2011, while 19 areas had price declines. In the third quarter, 120 areas showed increases from a year earlier, while in the fourth quarter of 2011, only 29 metros were up. Read more 
Up Beat Real Estate News
Real estate sales activity improving.
Real Estate News
Home Prices: Favorable home prices and record-low interest rates combined with high demand and a severe shortage of available housing have created a highly competitive housing market in California, with nearly six in ten home sales receiving multiple offers, according to the CALIFORNIA ASSOCIATION OF REALTORS®’ (C.A.R.) “2012 Annual Housing Market Survey.” Read more
New Home Sales Hit Two Year High
New Home Sales
New home sales
The Commerce Department just reported that new home sales in July match the numbers seen in May, which were the highest numbers since April 2010.
New home sales have increased 25% in the past 12 months! So, even though they remain below the typical annual numbers, many believe this is another sign that the housing market is slowly recovering.
Obviously, the two main factors driving the new home sales recovery are today’s near record low interest rates for home mortgages combined with the fact that home prices are still well off their peaks sat in 2005. Read more
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
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