San Diego Home Prices Rise
San Diego Home Prices Rise
Bob Schwartz, San Diego real estate broker
San Diego County home prices increased 2.4% in April as compared to a year ago. But in my opinion, more importantly, San Diego County home sales increased by 8.6% last month! Read more 
San Diego Real Estate Market – Time To Buy?
San Diego Real Estate Market
httpv://youtu.be/wGDtptowp-4
Is now the time to purchase San Diego real estate?
Yes, the most popular question real estate is always, is now the right time to buy?
One should understand that the residential real estate industry is basically a sales industry. As such, the vast majority of active real estate agents and real estate brokers are always optimistic ( many times overly so) that now, is always a good time to buy real estate. So, in reality, asking the question, is now the right time to buy real estate, it would be more appropriately, and perhaps more accurately answered if it was addressed local economist, preferably not one affiliated with the building industry. Read more
San Diego Home Prices
San Diego Home Prices
San Diego home prices
The Standard & Poor’s/Case-Shiller home-price index released today showed that prices fell in January from December in 16 of 19 cities.
The Case-Shiller monthly index covers half of all U.S. homes. It measures prices compared with those in January 2000 and creates a three-month moving average. The January data are the latest available. Read more
San Diego Home Values
San Diego County Residential Real Estate Market Analysis: 3nd Quarter 2011
By Mark A. Melikian California Certified Residential Appraiser appraisals@san.rr.com P.O. Box 3051 Del Mar, California 92014 858-793-9339
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 2011 data in figures 1 through 4 will be projected based on market data taken from January through September as reported by the San Diego County MLS system. 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 peaks in 2003 at 42,746 units and decreases through 2008 to 23,972 units. *The 2011 projection shows the total number of units sold for the year will be 32,089 (see figure 1). Read more
San Diego County Housing Market Outlook
San Diego County Residential Real Estate Market Analysis: 2nd Quarter 2011
By Mark A. Melikian California Certified Residential Appraiser appraisals@san.rr.com P.O. Box 3051 Del Mar, California 92014 858-793-9339
This part 2 of 3
Market Overview: The mean sold price for a housing unit in San Diego County peaked in 2007 at $621,675. The mean sold price in 2009 decreased to a low of $399,200, a 35.8 percent decrease from the market peak in 2007. *In 2011, the projected mean sold price is $413,794, which would represent a 3.7 percent increase from the 2009 mean sold price and a 33.4 percent decrease from the market peak in 2007 (see figure 3).
San Diego County Housing Market
San Diego County Residential Real Estate Market Analysis: 2nd Quarter 2011
By Mark A. Melikian California Certified Residential Appraiser appraisals@san.rr.com P.O. Box 3051 Del Mar, California 92014 858-793-9339
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 2011 data in figures 1 through 4 will be projected based on market data taken from January through June as reported by the San Diego County MLS system. All projections discussed in this analysis will be updated throughout the year in subsequent quarterly reports.
 San Diego Real Estate 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 peaks in 2003 at 42,746 units and decreases through 2008 to 23,972 units. *The 2011 projection shows the total number of units sold for the year will be 31,190 (see figure 1).
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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 Housing Market Bottom?
San Diego housing market
Home prices are still a bubble compared to historic norm. According to Case Shiller index, we are still 20% above long term averages. Typical bottom comes at 20% below average. But this is not your typical recession. This is a deflationary crash. This is Great Depression material. These averages themselves are based on a money supply that was inflated by borrowing for many decades. When the money supply deflates, existing prices and salaries cannot be sustained.
Past generations paid less for housing compared to their income. Whatever you do, do not get into too much debt. If you want to buy, buy cash down or with a large down payment. Even if prices do not fall, in many cases, renting can be cheaper if you consider mortgage interest, property taxes, condo fees, maintenance, lost interest/investment income…
San Diego real estate
San Diego Home Prices Up – Home Sale Down
San Diego home prices
The real estate reporting firm MDA DataQuick, reported today that the San Diego median home prices rose slightly by $500 from October to November to $335,000.
Single-family resale homes rose $1,000, from October to $370,000, which was 1.4 percent above year-ago levels. Resale condos also rose, though the $218,000 November median was down 3.1 percent from November’s $225,000.
That was the good news. The bad news reported in the MDA Dataquick report was that San Diego home sales were down for the fifth straight month in a row! The actual drop was 6.7 percent on a year-over-year basis. This continued drop in San Diego real estate sales is very troubling and for me, and a much more important fact than the modest price appreciation. If this trend continues, it’s just a matter of another month or so before the San Diego median home values also turn down.
San Diego Housing Problem is Getting Worse
San Diego housing market
The number of delinquencies is a dynamic that obviously changes relative to the environment. I apologize for not providing some insight into the hard numbers that your above post requests. Where are we in this process and how much of the problem has already been written off? Is it getting worse, better, or going to be the same and for how long? Read more