Market Watch: Is ‘Big Change‘ on the Horizon??

Scary times ahead? Well, I suppose ‘tis the season after all… Buckle up, San Diego! Reports are officially in and after months of careful watch, economy observes predict our local housing market is indeed headed for a ‘Big Change’ by the end of 2018.

Have I scared you yet?? Don’t be… while it may be the season for scares and Hollywood horror – let’s keep Halloween out of our housing market update, sound good?  So here’s what they mean when they talk about this intimidating ‘Big Change’… first off, let me just say that overall, this is going to be a good thing!

As we head into the holiday season, our market is holding significantly more inventory than this time last year (21.9% more, to be exact). While our market has experienced a slight shift and slowdown in price increases over these last few months, this coupled with a healthier market supply of homes for sale has created more stable conditions for our San Diego real estate market. All this means is that today’s market has more sellers finally taking advantage of these record-breaking home prices and that creates more options for buyers, less pressure and more power finally allocated back to buyers. This shift was a welcomed relief for buyers and economists alike, and while rumors of a  ‘housing bubble’ could be heard everywhere, luckily our readers knew that this shifting relief was indeed on the horizon.

So here is what’s coming – current conditions will maintain our housing market in a positive (though moderate, ‘healthier’) incline for these last few months of 2018. Our buyer demand for San Diego county consistently maintains remarkable strength (duh! honestly, who doesn’t want to live here??) – however in consideration of rising home prices, interest rates, and the holiday ‘slowdown’ season around the corner, economists and real estate professionals alike will continue to keep a weather eye on the horizon for any further changes to our market.  

[ Editor’s Note: Despite this general market trend assessment, we are still seeing pockets of home sales occurring with very low days on market and unusually high sales prices across San Diego county – these recent sales remain statistical outliers, but continue to occur month-by-month on county housing reports despite recent market shifts.]

Here’s what numbers we’re seeing from this month:

 

Buyers Advice: 
The best advice Finally, some options!!! Not only do you have more options today than you have had available in YEARS… now you also have this general holiday ‘slowdown’ on your side as a buyer right now. What this means for you is less competition in the market, more options available and when you do find you dream home, you have more potential buying power as well! This could be a great time to get out there and get a phenomenal deal!!! 
 
Sellers Advice: ​​​​​​​
Remember to keep things in perspective – yes, shifts are happening and there’s some more competition on market, but homes are STILL selling for record-high sales prices! If you are thinking of selling at some point, keep in mind timing is everything! Our housing market is headed for a stability shift, but right now prices are still increasing! If you have the right agent prepping and marketing your home to be that ‘next-to-sell’, you STILL have the opportunity to sell your housing investment for the highest possible return, ever!   What could you make??
 
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    • Modern Beach Home •   COMING SOON!!!  •  Crystal Sands  •  

    502-518 N. Myers Street, #512

    Oceanside, CA 92054

    3 Bedrooms 2-Story Luxury Unit 1 Block from Beach!
    3 Bathrooms Ocean Views! Underground Parking

     

    Coming Soon! Luxury Beach Residence at Crystal Sands!

    This stunning 2-story unit features 2000+ sq.ft. of spacious living with vaulted ceilings, ample natural light by skylights & floor-to-ceiling windows; immaculate finishes & stunning modern design throughout! Enjoy breathtaking ocean views from either of your 2 west-facing private balconies off the living area or top floor master retreat! 

    Additional features include: Lavish master bath w/ his & her vanity, walk-in shower, jacuzzi tub & XL walk-in closet; fireplace, gourmet kitchen, laundry room, secure underground parking garage with private storage room, elevator, private on-site gym, and so much more! Find this exquisite beach home perfectly located just 1 block from the beach & short walking distance to nearby shops, restaurants, theater, pier & Coaster!

    Crystal Sands offers contemporary architectural design with outdoor living spaces and modern interior features. Complex includes nine luxury beach homes, rising above the Pacific Ocean with authority. Each unit features ocean views, underground parking & exquisite contemporary fixtures and complementary material throughout kitchen, bathrooms, closets and more. Located just steps from San Diego’s finest white sand beach, 3 short blocks from the train station and 2 quick blocks from the pier and Mission blvd with the best shops, dining, theater & attractions within walking distance – Crystal Sands is in a highly desirable location in Oceanside.

    This exquisite home will be listed soon! Don’t hesitate – Call today for more info and updates on this stunning new beach home for sale at Crystal Sands! Don’t wait – Will Sell Fast! 

    Call for More Info:  888.503.3117

     

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      September 2018: San Diego Real Estate Update

      Mind the Gap [in Affordability!]

      We’ve been watching all market factors very closely – with all factors in consideration, we determine there to be a plateau in our market today.  Watch quick video here:

      The main reason is e assess that is really the affordability aspect, in particular the national income level. Over the last year, household income only rose about 2.8% annually. Now we this we’ve had rising housing prices, interest rates up AND building costs increase.. these rising costs on a national level have far outpaced our income averages. What does this mean?

      Well this is what many refer to as the ‘gap’ in affordability. Now here we have hit that ceiling on national average levels of affordability. 

       

      Here’s the stats we are looking at:

      Buyer Advice:

      Finally, there are options!! Actually a great time to be a buyer.  Remember last year, there was so much competition you LITERALLY had no options.. look at the market today, you appreciate how much more opportunity awaits for buyers today!

      Start your search Today!

      Seller Advice:

      For sellers, what it comes down to is pricing to the current market, preparing the property and marketing properly in order to be that ‘next-to-sell’ home. There are still homes selling fast & for record breaking prices – does your home have what it takes?

      Ask for your FREE consultation today!

       

       

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        2018: Happy, Healthy… Homeowners!

         

        As we’re reaching those final dog days of summer here, while the weather reports heat waves and perfect beach days..our housing market has actually shifted into cooldown already. The rumors are true, folks – the shift has happened! Remember, this is a GOOD thing.  For all those crying, “housing bubble!” we see you.. That was soooo 2007, stop it. We have actually entered into a “healthy” market – economists agree, our market conditions have set the stage for stability moving forward.

        What we’re seeing in our market now is about a 2.2 month supply of homes, this is extremely low compared to the rest of the US; however, we expect for that number to increase to around 3 to 3.5 months here soon. This will allow buyers to take their time and not be forced into jumping into the first property that comes on the market… Finally, right?? If you’re interested in becoming a homeowner and making the American Dream your own, now might be your time to pull the trigger and find your dream home!

        Here’s what we’re seeing now:

        Closed Sales decreased 9.5%. Pending Sales decreased 1.9%. Inventory increased 9.4%. The Median Price was up 6.8% to $657,000 for Detached properties and 6.7% to $432,000 for Attached properties. Days on Market increased 8%.

         

        All-in-all, we are looking at a promising future on the horizon for our local housing market. Consumer spending on home goods and renovations are up, and more people are entering the workforce. Employed people spending money is good for the housing market. Meanwhile, GDP growth was 4.1% in the second quarter, the strongest showing since 2014. Housing starts are down, but that is more reflective of low supply than anything else. With a growing economy, solid lending practices and the potential for improved inventory from new listing and building activity, market balance is more likely than a bubble.

         

        Buyers Advice: 

        Buyers, you are now able to be a little more picky than buyers last year.. so you can be more patient, take your time for the right home to come along and really find that “dream home” you’ve been waiting for. Now, we’re not talking major price cuts here… as we said, it’s a healthy market not a housing crash – San Diego Is one of the most desirable places to live in America, so keep your expectations reasonable. Now’s the time to figure out what you really want and hire that Realtor who will work with you, pound the pavement and find that dream home! 

        Sellers Advice: ​​​​​​​

        The best advice I can you right now is this: make sure you will be, what I call the ‘Next-to-Sell-Home”. What I mean by that is that you have to win on all fronts when compared to your competition. Your home either has to be in the same or better condition than the rest, at either the same or better price. Certain factors help set up sellers for success, we’d be happy to walk you through the process.

        Find out about our Hands Free Selling System

         

         

         

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          The Secret’s in the Sale

          We certainly have some interesting times seen in our local markets here in San Diego County. What we’re seeing is an odd disconnect between what’s recorded in our monthly housing stat report and what we real estate professionals are seeing on the ground, working day-to-day in our local market. We dove deep into this month’s market report to find the secret to this mystery – here’s what we found…

          First statistic I’d like to bring attention to is our closed sales this month is DOWN 15% compared to last year .. that’s a significant drop! Now, sales are down.. and the number of homes for sale is actually UP! So we have less homes closed, but more inventory. Now usually this results in prices going down.. however, instead we actually have a 6.3% increase in value (home prices) in closed sales from this month.

          Scratching your head over that one? Yup, we did too.. but we dove deep and here’s what we found:

          We see that yes, we have more inventory, however we’re seeing more homes coming on market that aren’t showing well and are overpriced .. So what we have are these homeowners who see the housing market doing great, so they say, “hey, market’s great – let’s go ahead and list our property.. let’s sell our home”.. But they’re not taking the proper steps to sell their homes for the best results – their homes aren’t being prepped for market properly. These listings aren’t showing well. Some homes aren’t priced at fair market value either – they’re overpriced, they’re not showing well… so naturally, we’re seeing this population of listings sit longer on market.

          Then in contrast, we’re seeing the sellers ( “smart sellers” ) who are taking into account the condition of their property, making it look good …they’re hiring professional realtors to help prep their homes properly for market, having them come in and help prep, PRICE and market their home properly. Sure enough, these sellers are having more success with their homes on market than these other poorly prepped, overpriced homes – more closings & quicker sales with these “smart seller” listings. So despite more inventory, not all listings are equal.. however those “smartly” listed are selling with more success & faster, resulting in our increase in home prices seen still in San Diego county.

          Here’s the stats from this month:

          Buyers Advice: 

          So on the BUY side, BE CAREFUL. Make sure you do your proper research!
          Even if there’s no comps in the neighborhood, make sure you have your realtor to run comps for those homes you’re interested in. You want to make sure these homes are actually priced at fair market value, and seeing as several homes on market today are overpriced, make sure your realtor helps determine if in fact you are getting a fair price when you buy your new home.

          Contact us today!

          Sellers Advice: ​​​​​​​

          On the SELL side, take the time to meet with your realtor – make sure your listing agent really works to sell your home properly. Have them really guide you through this process – have them tell you what you need to do for staging, painting, PRICE..and then the proper marketing plan for your home sale. Note: we ARE still seeing a high demand for these types homes on market – sellers: if you prepare your home for market, you WILL be able to sell with great success! Maybe sell for more than your neighbor did, or get a great listing agent and you could even max out what your neighborhood can sell for.. the secret’s in the sale!

          [ Find out about our Hands Free Selling System… ]

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            What Just Happened to our Market??!

            The market just got hot again.. WHAT??? Now, the market getting hot is by no means out of norm for us here in San Diego.. however HOW it happened certainly is odd!

            We saw a relatively slow market start to emerge over the last couple months (slow by our standards, that is), but then lo and behold, summer is here and we are coming into a HOT summer selling season! Historically, this time of year does tend to see an activity increase across the country, but we’re talking about the slight cool down that happened for just a blink of an eye here. 

            I believe the reason this happened is not just due to it being summer time, kids are out of school and people are getting freed to make a move.. but also I believe this to be in part due to the steady rising interest rates. On June 13th, the Fed raised rates 0.25%; this increase is primarily impacting those currently holding or purchasing with short term loans (such as ARM’s or Interest Only loans). I think this rate increase has been a push for buyers to hop off that fence and buy now versus waiting while the Fed delivers on their promise with raising interest rates close to 6% in our near future.

            Here are the numbers we are seeing for this month…

            Buyers Advice: 

            As you already read in the article above, NOW IS THE TIME TO BUY! You know what type of market we’re in, what factors are on a clock.. so if you do want to purchase a new home in San Diego, any Realtor or Mortgage lender can express the same degree of importance to low interest rates. My advice to you is this – make this a real conversation for yourselves. If you are comfortable with the payment and can see yourself in that house for 5 years.. BUY NOW! Want to talk to a great mortgage lender about getting pre-approved? 

            Contact us today!

            Sellers Advice: ​​​​​​​

            Don’t fall victim to thinking this market is SO hot you don’t need to prepare your home properly – I am seeing far too many homes hit the market that have not been staged, are unclean and have low quality pictures and marketing. Trust me, this will result in a huge chunk taken out from your net proceeds.. don’t start your selling process at such a costly disadvantage. Let us guide you through this process and insure that you WILL get top dollar for your home!

            [ Find out about our Hands Free Selling System… ]

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                •   COMING SOON!   •  

              9332 Babauta Rd, #85   San Diego, CA 92129

              Asking Price: (Call Listing Agent)

               

              2+ Bedrooms Monte Rio Community
              2 Bathrooms Two-Car Attached Garage
              2-Story End-Unit A+ Schools – Great Walkability!

              Coming Soon! You’ll find this charming 2-story Condo nestled safely in the heart of Rancho Penasquitos in the coveted Monte Rio community. This end unit offers the convenience of community condos with excellent amenities & beautiful landscaping, while living space offers privacy like a detached home! Enjoy convenience of attached 2-car garage with no neighbors above or below. 

               

              This unit offers two generous bedrooms and loft space (optional 3rd bedroom), 2 full bathrooms, 2balconies, cozy fireplace in living room & central air/heat system. Monte Rio community: Pet Friendly, Gated, Pool/Spa. 

              Great Location! Close to Hwys 15 & 56; Excellent schools within walking distance; Complex is next door to the coveted Los Penasquitos Canyon Preserve..and so much more! You don’t want to miss this one!

               

              For more info now, call listing agent ~  888.503.3117

              Subscribe Here for Listing Updates & More Condos like this!

               

               

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                [May 2018] San Diego Real Estate Update

                 

                WATCH OUT! Mortgage Rates on the Rise Again!


                They said this day would come.. Well folks, I’m here today to report that sure enough the F.E.D. has just delivered another promised increase to our mortgage rates. Be aware that rates are scheduled to increase several increases are set to occur several more times over the year… 

                As we turn the page and head into the more palatable days of summer, we can expect our local housing market to pick up speed and all signs suggest our housing prices will continue this steady climb into the foreseeable future. With mortgage rates on the rise – buyers will soon realize the real threat time now plays against housing affordability. 

                As for the recent rise in mortgage rates – buyers will realize these climbing rates are not just distant  threats on the horizon, but rather a costly condition of today’s housing market. Especially for first-time buyers and those looking in the lower-tier homes, these steady rising rates should be cause to push buyers out there and purchase their home during these next few summer months before its too late.

                Many sellers and builders are in a good position for financial gains, as the economy continues to favor sales of existing homes and constructing new homes for sale. As we predicted just last month, the market has officially shifted on a national level – after more than two years of waiting, we are finally seeing some upward movement in new listings hitting the market here. Remember, we’re talking slight shifts here – we still maintain a sellers’ market with inventory levels still well below the line of demand, so buyer competition and price increases are still active conditions in our present housing market and likely will continue for the next several months.

                Here’s the numbers to back that up…

                Buyers Advice:

                Ok, now we don’t want to scare you – but as our mission is to serve your best interests first as your real estate advisors. In that effort, we speak candidly here and want to alert our local home buyers to these condition changes within our San Diego housing market. 
                 
                So that being said, here’s our message to all buyers out there: GET OFF THE FENCE!!! Rising mortgage rates are like logs on the fire. Alongside all other factors now in play – trust me, time is the enemy here. Home prices are going to continue to climb, now steadily alongside mortgage rates as well for the foreseeable future – that means as time goes on, buyers will edge closer and closer to their affordability line. Remember, buying versus renting in San Diego is still the better move for most, but NOW IS THE TIME TO BUY!!!! Want to discuss what next move is best for you?
                 
                [ Ask about our Premiere Buyer Services.. ]

                Sellers Advice:

                The competition has arrived… inventory numbers are gradually edging back up and those white hot days of selling your home for $10K+ over asking in just 1 day on market are officially over. However, you should rest assured that our housing market can absorb the impact of these rising mortgage rates for some time here – meaning that your home price will not be negatively impacted by this buying factor at this time. Now that’s not going to be the case indefinitely… time is a factor working against sellers here as well. Eventually home prices will start to feel the market affects of these climbing mortgage rates, especially for lower-tier homes. That being said, your best results will be achieved selling your home sooner rather than later here… right now you can still expect your home will sell fast and for top dollar, so long as you plan properly. Your home can be your best financial asset – don’t leave money on the table.. Take the proper steps to get top dollar for your home today!

                [ Ask us about our Hands Free Selling System… ]

                 

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                  April 2018  –  San Diego Real Estate Update 

                  Can it be true?? Ladies and Gentlemen, no fools’ jokes went into the making of this statement… let it be known: there is finally a significant shift in our San Diego Housing Market! We are just seeing significant evidence of a lasting change to our local market. Basically, what had been several long discouraging months with severe inventory droughts in a scalding HOT sellers’ market has simmered down to what I would say to be a more stable market.  So small shift statistically, but what a significant impact on the market!  

                  Now, this news may be a shocking surprise to you – but don’t be jumping to any sky-is-falling conclusions about this now.. we are seeing only slight shifts here, nothing to indicate we are at any risk of a market collapse, I assure you! What we are seeing is a slight, and long overdue increase in our market inventory finally, though oddly enough also saw slight dip in buyer demand over last few weeks. This may seem odd, but considering all the many other factors in play here like tax season/reforms, stock market, school season, newly increased interest rates, economic stability concerns, or just some awful cocktail of them all gives just cause for buyer numbers to take slight dip momentarily here, as shown below.

                  However we can expect buyer demand recover soon as this recent market shift becomes more evident  – this surge of new inventory brings long-overdue relief onto our buyer market.  More inventory means buyers will finally have more options when out looking for their new dream home (and slight decline in present buyer activity is GREAT news for active buyers now! – More options, less competition, better deals!) For sellers, this shift will mean the end of price gauging and return to more strategic home sale practices.

                  Now you might be asking yourself, “Why is this not a sign of a correction, or market crash???” Well, when the market crashed in 2007 people were stuck with these adjustable rate mortgages which when adjusted, sent their payment through the roof, we don’t have that anymore. Rental rates were extremely low in 2007 so it was cheaper to go rent than to own, we don’t have that anymore. Our population has grown yet we have only managed to build around 22% of the housing that is needed to support those new members of our community. Therefore these signs all point to high demand for housing here.

                  All in all, the market is going to remain very strong for the foreseeable future, however expect to see more inventory and more options for home buyers.

                  Here are some stats to back that up:  

                   

                  Closed Sales are down 15.9%,. Pending Sales are down 3.1%. The Median Sales Price was up 10.4% to $635k for Detached homes and 5.7% to $412k for Attached homes.
                   
                  Buyers Advice: 
                   
                  Alright, it’s time to get off that fence and buy now before interest rates go up even more – the Fed has come out and said they plan to do 2 more increases to interest rates within this year. You will definitely want to get into your new home before that happens! Also, we are finally seeing more homes hit the market, this means you can give yourself more time to be picky and make sure the home has everything you’re looking for! 
                  See all the new inventory for yourself (Click Here)
                   
                   
                  Sellers Advice: ​​​​​​​
                   
                  With competition to sale higher than we have seen in last few years, you will really want to make sure your home stands out from all the rest! To do this best, you will need to make sure the home is suitably decluttered and arranged so it can be shown well, make sure the property photos are amazing & flawless, always review all marketing to make sure it is advertised correctly, and of course, make sure it’s priced right! If this sounds like a lot to do, you’re not alone & that’s why our  team created this specialty selling system that provides sellers with full service, start to finish so we when you list with us, we’ll do the rest, cut out the stress & always deliver the best! 
                  Ask us about our  (Hands Free Selling System)
                   
                   

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                    9516 Welk View Court, Escondido, CA 92026

                     

                    New Listing in Rimrock Estates    •    COMING SOON!   •   Panoramic Westerly Views!

                    Asking: $1,999,900

                    4 Bedrooms Stunning 1-Story Hilltop Home
                    3 Bathrooms Prestigious Rimrock Estates
                    3000 sq.ft. Panoramic Views w/Infinity Pool

                     

                    Schedule your private showing, before it even lists!   Call Joseph,  888.503.3117

                    Coming Soon! Magnificent 4 bed, 3 bath, single-story hilltop residence nestled high within the prestigious Rimrock Estates with breath-taking westerly views stretching 50+ miles across lush rolling hills out to the ocean & the Catalina islands. This spectacular home is stunning inside & out – quality construction masterfully emphasizes these beautiful views in almost every room across the expansive 3000 sq.ft. open-concept  living space. Features include vaulted ceilings, gourmet chef’s kitchen, separate wing with master suite + stunning master bath + HUGE walk-in closet with his & her custom built-ins!

                    Majestic courtyard entry leads through custom iron gate down stone tiled path under vaulted breezeway lined w lush greenery & built-in fire pit. Enjoy unbelievable westerly views from your beautifully landscaped backyard oasis, complete with saltwater infinity pool & spa, outdoor kitchen / bbq / pegola patio. Wrap-around stone walkway continues along the west-facing bluff under an open-beamed pegola complete with a canopy of lush greenery, mature gardens and soothing water fountains throughout.

                    This meticulous home demonstrates true pride of ownership – truly something special. Must see to fully appreciate! This hilltop gem is definitely one you do not want to miss! 

                    Call today! 888.503.3117 

                     

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