San Diego Neighborhoods
San Diego Neighborhoods
Have you ever wondered what home buyers are really looking for in a neighborhood? Most people would guess the number one thing are good schools, but,as you can see from the graphic below that’s actually number three on the priority list.
So, how do you rate your own neighborhood priorities compared to the results shown here from the national Association of realtors survey? Your comments are encouraged, below.
San Diego Neighborhoods
San Diego’s Cost Of Living
According to the Council for Community and Economic Research, San Diego’s cost of living is 32.3 percent above the national average. Among 22 major metro areas, the only places with a higher cost of living are San Francisco (62.1 percent above the national average), Los Angeles (36.2), Washington D.C. (37.9), and Manhattan (118.0). San Diego compares poorly with other high-tech areas such as Austin, Charlotte, Orlando, and Raleigh, whose living costs are all below the national average. San Jose (Silicon Valley), at 55 percent above the national norm, is the most expensive of the tech centers.
San Diego Little Italy condos
San Diego City and the State of California are in Real Bad Shape
Well, if you are a regular reader of this blog you know what a hit our housing market has taken. But, do you also know how bad San Diego’s finances really are?
Professors say that state pension fund as presently set up have only a 1 in 20 chance of paying their obligations 15 years from now, according to Barron’s.
Jumbo Financing and the Impact on The San Diego Real Estate Market
Certain programs have already gone away or are going away. Right now, it is VERY difficult to finance people who are self employed, who are buying certain condos, who are investors owning more than a certain # of units, etc…
Many thanks to our guest author, Mr.Greg Brooks Southwest area manager San Diego Mortgage Network for this enlightening post. A few our prior popular posts were:
More homeowners than ever are selling at a loss!
Another Look at the June Rise in Pending Home Sales
Home Value Loss … Homeowner Perception vs. Reality
San Diego Real Estate Market Bottom?
Reworked Subprime Loans … 40% End Up Defaulting
San Diego Real Estate … The Coming Next Wave of Foreclosures
Believe the local San Diego ‘experts’ that subprime delinquencies are slowing?
The local San Diego 'experts' who are trying to jump on every tidbit of positive real estate news as proof positive that our San Diego real estate market is finally turning, may just have to re-think their recent touting of slowing subprime delinquencies.
Clayton Fixed Income Services, Inc released a report showing the percentage of subprime borrowers 60 or more days in arrears at the end of July surged for both the 2006 and 2007 vintages, up nearly 7% and 11% compared to June, respectively… Despite a sharp increase in cures… the number of troubled subprime borrowers… is again swelling — the 2006 vintage saw its cure rate rise 11.8%, while the 2007 vintage saw cures rise nearly 20% compared to one month earlier… A large volume of repayment plans put into place earlier this year for troubled subprime borrowers are now failing. downtown San Diego California condominiums
TECH-SAVVY SAN DIEGO
The Scarborough Research study measured the concentration of technology users with a wide range of high-tech habits, and found San Diego to be #4 on the list for most tech-savvy cities. As reported in early May 2008, about ten percent of San Diegans made the cut, ranking above the national average of six percent. The study queried high-tech habits such as blogging or watching cell phone videos.Seattle and San Francisco finished lower in the top 10, with about 9 and 8 percent of Seattle and San Francisco residents, respectively, qualifying as savvy.Ranking as the top three cities in the list were Austin, Texas, Las Vegas, and Sacramento. San Diego downtown real estate
The Steady Rise in San Diego Unemployment
San Diego’s unemployment rate continues to be lower than California and the United States as a whole. The bad news is that it’s been on the rise since March. According to the San Diego Workforce Partnership, in March, San Diego’s unemployment was at 4%, the lowest all year, compared to 5.1% in California and 4.5% in the United States. By July, San Diego’s unemployment stood at 4.8%, while California was at 5.5% and the United States was at 4.9%. National City has been hit the hardest. Most recently the city’s unemployment rate was 9.6%. Imperial Beach’s unemployment rate was at 7.9% and the lowest rates around San Diego County were Valley Center (2.2%), Del Mar (2.3%), and Poway (2.8%). San Diego CA real estate