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New Scares in San Diego Housing?

With ghouls and cobwebs hung from the trees and the weather cooling, the housing market begins its annual cooldown as well – but thankfully it’s only Halloween that will bring scares to San Diego homeowners this year. On a national scale, buyer and seller activity remained strong, supported by low mortgage rates and a strong economy. Market indicators suggest no significant changes from recent trends, other than the seasonally tempered pace we see this time of year. As we move into the final three months of 2019, buyers will find fewer homes coming on the market, but also less competition for those homes.

Closed Sales increased 10.3 percent for Detached homes and 6.6 percent for Attached homes. Pending Sales increased 21.0 percent for Detached homes and 7.4 percent for Attached homes. Inventory decreased 25.0 percent for Detached homes and 12.4 percent for Attached homes. The Median Sales Price was down 0.6 percent to $643,000 for Detached homes and 2.8 percent to $415,000 for Attached homes. Days on Market increased 3.2 percent for Detached homes and 3.7 percent for Attached homes. Supply decreased 25.8 percent for Detached homes and 8.0 percent for Attached homes. 

In Washington there are discussions around a broad overhaul of the housing finance system, including the re-privatization of Fannie Mae and Freddie Mac and reforms to federal agencies involved with financing substantial portions of the mortgages made every year. Many of these policy conversations and eventual changes will take months or years to be implemented and their impact is not yet clear. While Halloween decorations are beginning to adorn homes around the country, the real estate market this fall is looking far from scary.

Here’s what we saw last month:

BUYER ADVICE:

As we mentioned above, we are heading into the holiday season which means a historically slower time for our housing market. Buyers, this is an opportunity for you – less competition coupled with favorably low interest rates makes this season a prime opportunity to find your dream home AND for a great deal, too!  Advice for you this month is simply to stay active in your home search and be aggressive! Fortunately we can offer you access to not only all active listings in San Diego county, but also thousands of off-market homes not yet listed. Click Here to start your search today!

SELLER ADVICE:

Home inventory levels continue to decline – sellers, this is a prime opportunity for you to sell, but you MUST sell smart. What this means is you need to price your home right, make sure your home is in show-ready condition and do what you must to be that ‘next-to-sell’ home.  If your home is over 15 years old and in original condition, I highly recommend you look into doing basic remodeling and staging work. If the cost of remodeling or staging sounds too pricey, never fear, we will front the cost to get you more money for your home with shorter time on market! Click Here to Get a FREE Consultation with your True Local Expert today!

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    Current market  conditions could motivate stay-put homeowners to move…
    As the summer draws to a close, multiple opposing factors are competing to define the direction of the real estate market.  After the Federal Reserve lowered its benchmark interest rate on July 31st, 30-year mortgage rates continued to decline, approaching all-time lows last seen in 2016.

    Yet most experts agree these reductions are unlikely to bring sufficient relief, at least in the short term, for first-time home buyers. The lack of affordable inventory and the persistence of historically high housing prices continue to affect the housing market, leading to lower-than-expected existing home sales at the national level.

    As many homeowners refinanced their homes to take advantage of declining interest rates, consumer confidence in housing was reported to be at historically high levels. Signs also indicate that homeowners who weren’t even considering a move previously might now be motivated because of higher home buying power. This is great news for the future housing market because although the inventory of affordable homes at this point remains largely stable, it is stable at historically low levels, which may continue to push prices higher and affect potential buyers across the U.S.

    Here’s what we saw last month:

    BUYER ADVICE: I’m predicting to see interest rates down in the 3.5% range over the next 3 month, so you may want to consider running the numbers with your lender to see what the home of your dreams might cost you… the answer might be a pleasant surprise!If you are currently active or recently entered into escrow – follow these rate updates closely, hopefully rates will drop next week for you (this can add up to a significant discount over time)! Once they hit a level you like, don’t forget to lock that rate in! Start your search today so you can be ready!

    SELLER ADVICE: With inventory levels down, you may want to consider putting your home on the market. Less competition is always good for sellers – however, be aware that quality remains an significant factor in today’s market. Homes lacking proper presentation or don’t show well are just not selling right now. I highly recommend you look into doing basic remodeling and staging work. If the cost of remodeling or staging sounds too pricey, never fear, we will front the cost to get you more money for your home with shorter time on market!

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      You’ve heard the news, mortgage interest rates are down! 

      San Diegans are in a great position to purchase. Whether you already own a home, are thinking of buying or you are gearing up to purchase, now may be a good time to make a move or possibly refinance your existing mortgage. 

      The Federal Reserve recently cut its policy rates for the first time since 2008. After trending downward through much of 2019, mortgage rates have again fallen to recent lows.

      In July, the U.S. economic expansion that began in June 2009 became the longest in the nation’s history, marking 121 straight months of gross domestic product growth and surpassing the 120-month expansion from 1991 to 2001. The average rate of growth during this expansion has been a milder 2.3 percent per year compared to 3.6 percent during the 1990s. Although the economy should continue to perform well for the rest of 2019, most economists see a mild recession on the horizon.

      Buyers Advice: 

      Buy, Buy, Buy! Housing affordability is at its highest point its been in the last 18 months. Mortgage rates are hovering below 4%. Record income levels combined with mortgage rates near historic lows mean consumer house-buying power is more than 150% greater today than it was in January 2000, This is the strongest moment of housing affordability in almost a decade – this is the chance to seize this market opportunity before the market changes in 2020 or 2021. This is the time to make your move. Don’t wait until it is too late!

      Survey what’s on the market right now – Click Below to Start Your Home Search Today!

      Click to Search Homes

      Sellers Advice: 

      Don’t be just another home on the market. We are about to see inventory levels and time on market increase and this is due to not preparing the home for market. Make sure to: Declutter, stage, paint, clean and etc… to get the home in the best shape possible. We are seeing record breaking prices for the homes that show well and are priced right. If you are interested in learning more about our award-winning Concierge Selling Services –  Contact Us Today and Ask if Hands-Free Selling is right for you!

      Home Values are still on the rise in San Diego! What’s Your Home Worth Today?

      Click Below for FREE Instant Value Estimate of Your Home…

      FREE Home Value Estimate
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        What Will The FED Do Next ?

        In case you missed the latest gossip on the hill – there has been a lot of talk about the Federal Reserve potentially adjusting the range for the federal funds rate – currently set at 2.25 percent to 2.5 percent.

        These discussions arose despite the economy to the mounting economic pressures of uncertainties remain. In the wake of the President’s most recent political headlines, pressures have been on the rise from trade tensions, failed diplomacy, slowdown of domestic manufacturing and meek business investments. While our residential real estate markets across the country have been performing well within an economic expansion that became the longest in U.S. history as of this month. However, there are signs of a slowing economy. Markets have indeed been trending back to a more relative balance between both buyer and seller interests. paired with market variables maintaining overall stable conditions – our housing market shows strong healthy conditions ahead for the second half of summer and into the foreseeable future.

        The presidential party has turned once again to put the pressure back on The Fed to remedy our perceived present state of economic stress – the proposed change would work by way of cutting fed rates to then spur further economic activity. As expected, The Federal Reserve has denied any changes to rates at this time.  While our economy has indeed maintained growth despite a barrage of stability upsets and uncertainties, we do acknowledge all signs ahead projecting we are soon to be starting a very slow, gradual turn down to a more moderate, “slower” economic condition for the remainder of 2019. If The White House continues to pressure The Fed with the same card, the possibility of a rate reduction in 2019 is definitely on the table following a string of increases over the last several years.

        Here are the stats to back this up:

        Closed Sales went down 17.8% compared to this time last year, however Pending Sales went up 4.5%.  Inventory decreased 5.6 percent for Detached homes but increased 8.2 percent for Attached homes while the average days on market (DOM) for a detached home has only increased by 4.8%. So… with the Median sales price going up 3.2% for Single Family homes and 4.8% for condos and townhomes, this just shows up that we are in healthy market that isn’t increasing in value too rapidly. This tells us there is no need to lower the Fed Rate.

        Buyers Advice: 

        Be prepared for a large amount of not-so-desirable homes on the market. Since the market has rebounded from its lows of 2008 we have seen many homeowners throw their homes on the market without the proper preparation and or pricing. Make sure to hire a True Local Realtor who knows the area and can easily point out the better deals on the market. Inventory levels are up so be prepared to have to filter out the crap!  

        Survey what’s on the market right now –  Start Your Search Today!

        Click to Search Homes

        Sellers Advice: 

        Don’t be just another home on the market. We are seeing inventory levels increase and time on market increase and this is due to not preparing the home for market. Make sure to: Declutter, stage, paint, clean and etc… to get the home in the best shape possible. We are seeing record breaking prices for the homes that show well and are priced right. If you are interested in learning more about our award-winning Concierge Selling Services – Contact Us Today and Ask if Hands-Free Selling is right for you!

        Home Values are still on the rise in San Diego! What’s Your Home Worth Today? Click for FREE Instant Value Estimate of Your Home…

        FREE Home Value Estimate

        TRUE LOCAL REALTY GROUP | partnered with Compass

        P.S. Same Team, New Look!  Our real estate team has decided to make some big changes to our company… We have realigned our company to what truly matters – our local community and the clients we love. We are proud to announce that we are your TRUE LOCAL Experts in San Diego!  

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          A Look Inside the Summer Selling Season

          At this point in the year, we don’t need a crystal ball to see how this summer selling season will go… Although it is not particularly exciting, the forecast is a desirable one.

          Markets across the country are moderating toward a middle ground between buyers and sellers. While the trend has remained of higher sales prices with inventory options running relatively low, buyers are beginning to find wiggle room at some price points and locations… 

          Here’s what we saw this month:

          Buyers Advice: If you are wondering to yourself if now is the right time for you to buy – Please trust me when I say “YES!” Today is always better than tomorrow, and especially six months down the road whenever it comes to buying a home. While buying during the competitive summer months may seem intimidating to some, it’s nothing compared to what is on the horizon for our housing market here in just a few short months even.

          Those looking to buy should start preparing themselves & their finances now in order to move quickly as soon as the home they want comes on the market. Those wanting more information or have questions should contact me today – I would be more than happy to help you, no matter what stage you may be in the process.

          Click to Search Homes

          Sellers Advice: Wondering when the ‘right’ time to sell might be? According to expert analysts, if you intend to sell your home, this year might be the best time to get top dollar for your home. Market indicators suggest the state economy will likely dip nationwide in 2020. This could affect San Diego home prices negatively, though no one believes values will drop like they did in 2008. Rather, they could just remain flat. Home prices are expected to rise in 2019 at just more than 4 percent and local real estate gurus suggest many will start looking to purchase a home late in the year. While summer months have always been promising times to sell your home quickly & for top dollar, for those still in the initial stages of preparing their home for market – now is the time to consult with an expert and start the process!

          View More Seller Tips
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            WHEN YOU PLAY THE GAME OF HOMES…

            You Win or You Didn’t Close

            As we turn the corner on Spring and head straight into the heat of the summer buying season, we’d like to welcome all buyers joining us from across the Seven S.D. Kingdoms to compete in this season of The Game of Homes!

            BRACE YOURSELVES

            Closings are Coming…

            We all know what summer means for us in San Diego – schools’ out, beaches are packed & crowds of buyers are flocking back to the housing market and eager to make a deal. 

            Despite affordability concerns rising, buyers are returning to the market in force & eager to close!  For well-priced homes in desirable locations, the competition is fierce! Those considering buying a home will need to know some things in order to navigate the waters of real estate purchasing… 

            San Diego can be full of surprises since it is known as a technology center and with more people moving in to take jobs or start businesses. For years, tourism had been the city’s greatest relation for its economy, then shifted focus to more professional, biotech, IT, telecommunication Industries to grow its tax base. That means more people are coming in to San Diego County as ‘transplants’ rather than tourists, meanwhile wages are still catching up to the population, housing construction has kept the same near-death pace for 3 years.  That results in a competitive home market with higher demands.

            While we are already seeing buyers returning to the market again in force, several factors indicate that our housing market in San Diego may get more unpredictable in late 2019 into 2020. Those considering selling when the market is ‘right’ should begin the process and consult with an expert for a detailed home valuation assessment.

            What Happened this Month on San Diego’s Housing Market?

            Across San Diego county, most markets report the number of days on market decreased between March and April. Overall, properties are selling more quickly than they did at the beginning of the year. Most homes are selling in fewer than 3 weeks. While this month’s total sales is again slightly below that which we saw last year (- 2.1% for detached homes, – 12.1% for attached), we can attribute these variations to the abnormal & unusually frequent weather disturbances seen since the beginning of 2019.

            Buyers Advice: 

            If you are wondering to yourself if now is the right time for you to buy – Please trust me when I say “YES!” Today is always better than tomorrow, and especially six months down the road whenever it comes to buying a home. While buying during the competitive summer months may seem intimidating to some, it’s nothing compared to what is on the horizon for our housing market here in just a few short months even.. 

            The Millennial Generation will represent a huge chunk of home buyers. Experts predict millennials with new, higher-paid jobs will seize the opportunity at home purchases as prices flat line or even decrease in some housing markets come late 2019 and throughout 2020. This new population of home buyers will make for an even more competitive market, particularly with starter homes. 

            Those looking to buy should start preparing themselves & their finances now in order to move quickly as soon as the home they want comes on the market. Those wanting more information or have questions should contact me today – I would be more than happy to help you, no matter what stage you may be in the process.

            Click to Search Homes

            Sellers Advice: 

            Wondering when the ‘right’ time to sell might be? According to expert analysts, if you intend to sell your home, this year might be the best time to get top dollar for your home. Market indicators suggest the state economy will likely dip nationwide in 2020. This could affect San Diego home prices negatively, though no one believes values will drop like they did in 2008. Rather, they could just remain flat. 

            Home prices are expected to rise in 2019 at just more than 4 percent and local real estate gurus suggest many will start looking to purchasing home late in the year. While summer months have always been promising times to sell your home quickly & for top dollar, for those still in the initial stages of preparing their home for market – now is the time to consult with an expert and start the process!

            View More Seller Tips
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              COMING SOON • NEW HOME FOR SALE • SHADOWRIDGE

              $600,000

              3 Bedrooms Fully Renovated Home
              2.5 Bathrooms Golf Course Views
              1482 sq.ft. Desirable Shadowridge

              Come home to this impressive, fully renovated home in the highly desired neighborhood of Shadowridge, Vista! Meticulously maintained, this stunning home demonstrates true pride of ownership through custom construction, stunning details, vintage charm & quality updates throughout. Virtually flawless attention to detail – this home is guaranteed to impress – you really need to see this one to fully appreciate!

              List Date: End of May 2019

              Don’t miss your chance here – This incredible home is sure to take your breath away & we guarantee it WILL SELL FAST! Call Today for more info or Schedule your Private Tour (BEFORE it lists!) – CALL 888.503.3117

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                Junk on the Market: It’s Spring Cleaning Time!

                Yes you have heard us over the last 5 months sounding like a broken record talking about how inventory levels are up and buyer activity is down… however that is quickly changing! We have seen buyers activity skyrocket in recent weeks which has made a huge impact on the amount of Quality homes on the market.

                What is this from??? Interest rates! Thanks to promises kept by The Federal Reserve, we’ve had low interest rates starting in January 2019 and they’ve stayed down in the low 4’s… yes you heard me right, interest rates right now are at 4.13%. What us Real Estate professionals know is that a lower interest rate is sometimes more important than a lower purchase price!

                Now lets talk about what is happening with inventory… We do have higher inventory levels due to the build up that happened during the last quarter of 2018 and the start of 2019. Perhaps due to skeptical buyers, probably due to rising interest rates… However from our (Boots on the ground) prospective, what really happened was San Diego homeowners rushed to put their homes on the market and threw a high price tag on it just to see if they could get it. What that means now is, quite frankly, we’re seeing some “junk” sitting on the market and inflating our inventory levels. However please rest assured… we still have extremely high demand from buyers right now… however that demand is for quality properties that show well,  are priced right, and are marketed properly!

                As spring and summer months are notorious for hot sales markets, we can expect a rising buyer demand these upcoming weeks and if sellers tend to their listing like their wallets depend on it, we can predict a lot of this inventory to produce sales contracts soon across San Diego county.

                Buyers Advice:  This is an opportune time for buyers to hit the market – take advantage of more inventory selection, less competition, more buying power & better chances in finding your perfect home (and potentially negotiate for a great deal, too)! Looking to Buy Your New Home in 2019 or 2020 ?  Click to Start Your Home Search Today!

                Click to Search Homes

                Sellers Advice:  We’ve been finding many buyers lately who are out there actively searching these days seem to be primarily interested in buying homes that already look nice inside & out – Buyers are consistently searching for only these “Turn-Key” homes. However the majority of the homes on the market right now are NOT in the best of condition. We recommend folks put some money into their home to upgrade, renovate or repair (ONLY if cost to improve will serve to increase home’s assessed value, etc.) If you plan to offer your property as a buyers’ “Move-in Ready” or Turn-Key product, make sure you assess your overall presentation – buyers are getting picky these days so you want to stand out; look fresh, clean & tidy as best you can before listing. Quick tips for DIY listing prep: 1) simplify decor, 2) choose neutral tones & 3) De-Clutter, De-Clutter, De-Clutter! Put your best foot forward when prepping your home for sale – Call today to learn more about our award-winning concierge home selling services, or click to website for more seller help!

                Visit for More Seller Tips
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                  The Buyers Go Marching One by One… Hurrah Hurrah

                  Last month we saw an impressively cold, rainy and even heaps of snow for the majority of the other housing markets across the nation. Even our So.Cal coastline was no exception as we faced weeks of frigid rain and braved the cold alongside the rest of America. Nevertheless, it is worth noting that the San Diego housing market has proven to be resilient despite predictions of a tougher year for the industry.

                  The Buyers Go Marching Two by Two… Hurrah Hurrah

                  It is still too early to say how the entire year will play out, – the overall condition remains fundamentally positive. Buyers have shown great determination toward achieving their homeownership goals.

                  The Buyers Go Marching Three by Three… The First-Timers Stop if Rates Rising…

                  While inventory is up for the sixth consecutive month, closed sales are actually down 14.8% with median sales price up only 2.8% since last year.  This emerging trend to moderation comes after years of price climbs and rising interest rates – though supply is finally on this rise, we are faced with the affordability dilemma as the number of buyers actually able to afford these homes is slowly declining. Though we did see buyers rushing back and ready to buy at the start of 2019. The total number of signed contracts jumped a shocking 4.6% between the end of last year and February 2019, according to the National Association of Realtors (NAR).

                  And They All Go Marching Down.. To Buy A House.. To Get Out of the Rain… Sales BOOM!

                  Most will point squarely to the drop in mortgage rates that occurred in December 2018 as a cause for this rebound and jump in buyer demand. Going forward, it is unlikely we will see such dramatic spikes like this one as supply levels are gaining – (still at about 3.5 months worth versus 6 months needed to be considered a balanced market). Income growth is stronger this year, but again we see the headwind issue as a large share of buyers are still on the edge of being able to afford a home.

                  Here’s what stats we saw last month:

                  So all-in-all, what does this mean for our San Diego housing market? Here’s what we see ahead – We can anticipate the spring housing market will see some signs of a rebound, but it will be slower than expectations compared to years prior. Due to affordability concerns with a large portion of the buyer pool, we can expect to see a disconnect between homebuyer demand and a slightly slower market this spring. Though supply is higher than it’s been in years, we lack entry-level homes and home builders have continued to focus instead on the move-up market. These structural headwinds will be a condition of our local and national housing markets for the rest of this year, and likely remain as a hot topic of economic concern for years ahead.

                  Buyers Advice:

                  As you may have picked up from this month’s market update, there are many recent buyer trends that seem to have clear cause-and-effect patterns – in the recent wake of growing affordability gaps, buyers are becoming increasingly sensitive and/or responsive to the ups & downs of F.ED. interest rates That said, they just lowered rates again to just under 4.4% in February.. *cue buying frenzy!* This is an opportune time for buyers to hit the softened market & make the most of this “pre-season” / calm before the home-buying storm! Take advantage of more inventory selection, less competition, more buying power & better chances in finding your perfect home (and potentially negotiate for a great deal, too!) If you’re looking to buy a home this year – Click to Search Homes!

                  Sellers Advice: ​​​​​​​

                  We’ve been finding many buyers lately who are out there actively searching these days seem to be primarily interested in buying homes that already look nice inside & out – Buyers are consistently searching for only these “Turn-Key” homes. However the majority of the homes on the market right now are NOT in the best of condition. We recommend folks put some money into their home to upgrade, renovate or repair (ONLY if cost to improve will serve to increase home’s assessed value, etc.) If you plan to offer your property as a buyers’ “Move-in Ready” or Turn-Key product, make sure you assess your overall presentation – buyers are getting picky these days so you want to stand out; look fresh, clean & tidy as best you can before listing. Quick tips for DIY listing prep: 1) simplify decor, 2) choose neutral tones & 3) De-Clutter, De-Clutter, De-Clutter!
                  Put your best foot forward when prepping your home for sale – Call today to learn more about our award-winning concierge home selling services, or click below to visit our website for more helpful seller tips and selling strategies… Click for Selling Tips


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                    COMING SOON! • CORONADO RANCH • NEW FOR SALE!

                    663 Hatfield Drive, San Marcos, CA 92078

                    $449,000

                    • Three Bedrooms • Tri- Story Townhome
                    • Three Bathrooms • Two- Car Attached Garage
                    • Spacious 1238 sq.ft. • Low HOA / No Mello-Roos!

                    COMING SOON in Coronado Ranch, San Marcos! Spacious tri-level townhome offers well-maintained, comfortable living within the highly desirable community of Coronado Ranch – Enjoy top-notch amenities while conveniently located close to everything! Just quick walk to CSUSM, hiking trails & some of San Marcos’ best cafe & dining spots; central to 76 & 78 commuter routes.

                    CALL TODAY! 888. 503. 3117 Ask for Your Private Tour!

                    Main floor features beautiful updated kitchen with tile flooring, granite counters, SS appliances & ample cabinet storage. Lots of natural light throughout living space with sliding glass leading out to large private balcony. Spacious guest bedroom & full bath on main. Top floor features generous sized guest bedroom & master bedrooms, both featuring beautiful en-suite bathrooms & walk-in closets.

                    Other features include: attached 2-car garage offers ample storage & W/D. Pet friendly community, and don’t forget about the Pool/spa and the really nice full gym just steps away from this lovely townhome!

                    We’ll be going live with this one soon, but you don’t have to wait! Call Listing Agent today for your off-market tour … OR just Text TAG663 to 760. 209. 8333 (Instantly get more info, pics & listing updates sent to your phone!)

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