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First Quarter is in the books & We’re in a H🔥t Market

The first quarter of 2017 is in the books, so what happened? Well… the market has outdone everyone’s predictions.

We are seeing month over month price increases, we are seeing buyer activity at an all time high, and we aren’t seeing any signs of this slowing down. Why? Because we don’t have enough inventory. I think this is due to the common concern I keep hearing from potential sellers… they are concerned if they sell, they won’t be able to find their next home. (If this is you, read our sellers advice)
With all that being said, here are the stats to back this up:

Closed Sales decreased 0.8% for Detached homes & 14.1% for Attached homes, however inventory decreased 29.9% for Detached homes and 34.7% for Attached homes which caused the  Median Sales Price to increase 7.9% to $565,000! DOM (Days on Market) decreased 13.6% for Detached homes & 17.1% for Attached. All this is telling us we are in a HOT market!

SELLERS ADVICE

One common concern we’re hearing from contingent home sellers is the fear of not finding their next home once they sell (a feeling that quickly disappears once they receive multiple high offers on their house), so we’ve put in place some security blankets for our home-sellers:


# 1 – Make the Sale of their home contingent on them finding their next home.

# 2 – Do a “Rent-Back” which will allow them to stay in their home for 30-90 days.

# 3 – Have a plan to move into an AirBnB while putting their belongings into storage… This works great!


Find out How much you could sell your home for!?

What to do when you get multiple offers? Read Here


BUYERS ADVICE

The competitive market is making it particularly difficult for first-time & contingent buyers…So, How do you make yourself stand out from the crowd?# 1 – Ask your mortgage lender to get you FULLY APPROVED (not pre-approved -Fully Approved).

# 2 – Stay ACTIVE, be AGGRESSIVE on Price & Terms.

# 3 – HIRE a REALTOR, a True Agent with proven experience and positive reviews.


Stay Active & Setup Automated Home Search Updates Here!

  1. 2 beds, 2 full, 1 half baths
    Home size: 1,279 sq ft
  2. 2 beds, 2 full baths
    Home size: 1,063 sq ft
  3. 3 beds, 2 full baths
    Home size: 1,232 sq ft
    Lot size: 3,999 sqft
  4. 2 beds, 2 full, 1 half baths
    Home size: 1,348 sq ft
    Lot size: 1,306 sqft
  5. 3 beds, 2 full baths
    Home size: 1,134 sq ft
    Lot size: 7,499 sqft
  6. 5 beds, 3 full baths
    Home size: 2,465 sq ft
    Lot size: 24,829 sqft
  7. 3 beds, 2 full baths
    Home size: 958 sq ft

See all City of San Diego Real Estate.
(all data current as of 4/26/2017)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

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    1209 Sand Dollar Way, San Marcos CA 92078

    $799,000 – $825,000

     

    4 Beds – 3 Baths – 2,680 sq. ft  3 Car Garage – Built in 2001 – 0.44 Acre Lot

    This is a beautiful home in the highly desirable community of Rancho Dorado. This home features everything you could want, including: the master bedroom on the first floor, large private 0.44 acre lot, 3 car garage, cul-de-sac location and no neighbors behind you. With new paint, beautiful large tile floors, fully remodeled master bath, and an amazing floorplan, this home is not going to last!

     

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      500 W Harbor Dr #1507, San Diego, CA 92101

      $599,900 – $625,000

      Beautifully remodeled residence in CityFront Terrace within the Marina District’s most prestigious building. This unique unit is located in the historic Soap Factory wing of the building which offers amazing brick walls and wood beams. Features a fully remodeled kitchen with a custom movable island, wood barn closet doors, large rustic windows, and beautiful crown molding. This unit is a designers dream! Plenty of storage in this unit due to its custom closets and built-ins. This is a must see & don’t forget to view this amazing communities amenities.

      1 Bed1 Bath

      943 sq. ft

      1 Car – Undergroung Valet

      City Front Terrace @ Marina DistrictResort Style Living

      2 Pools – Gym – Spa

      BBQ area + Entertainment Center

       

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        FED Raises Rates to Slow Down the Market

        Things are a little confusing right now… the FED has raised interest rates with an intent to slow down the market, however all that this has done is push more people into hurrying up and buying (which is a smart move) which in turn has caused for our inventory levels to stay low. As you all know because I say it almost every week… Low Inventory + High Demand = Increase in Prices. This factor combined with tax returns and the spring selling season ahead of us, is a recipe for a strong growing market.

        Here are some numbers to back that up:
        Closed Sales decreased 0.7% for Detached homes however Pending Sales increased 14.2% and the Inventory level decreased 24.3%. The Median Sales Price was up 5.6% to $559,500 for Detached homes and 7.8% to $378,750 for Attached homes. Days on Market decreased 2.3% for Detached homes and 22.0% for Attached homes. All these stats are pointing to a market not ready to slow down.

         

        BUYERS ADVICE

        With low inventory you are likely to see multiple offer situations once you find the home you want.

        Do these 4 things now to avoid missing out on your dream home:

        1) Get Pre-Approved for a loan.

        2) Find out how much you will need for downpayments and closing costs, and have those funds set aside.

        3) Find an agent who will be patient with you, who won’t try and rush you, and hire that agent.

        4) Setup automated search updates on a website you like, then you’ll be updated on all the homes in the area you want to buy in. Use other sources besides Zillow.

        Setup Automated Search Updates Here… ​​​​​​​​

         

        SELLERS ADVICE

        For you folks who are looking to sell then turn around and buy your next home, here is what to do:

        1) Get a ballpark valuation on your current home and figure out how much you will be making on the sale.

        2) Get pre-approved for a loan and figure how much you can afford.

        3) Do a search online and see if there are multiple homes out there that you could see yourself in.

        4) Hire your Real Estate Agent.
        Find out how much your home is worth: Click Here

         

        1. 2 beds, 2 full, 1 half baths
          Home size: 1,279 sq ft
        2. 2 beds, 2 full baths
          Home size: 1,063 sq ft
        3. 3 beds, 2 full baths
          Home size: 1,232 sq ft
          Lot size: 3,999 sqft
        4. 2 beds, 2 full, 1 half baths
          Home size: 1,348 sq ft
          Lot size: 1,306 sqft
        5. 3 beds, 2 full baths
          Home size: 1,134 sq ft
          Lot size: 7,499 sqft
        6. 5 beds, 3 full baths
          Home size: 2,465 sq ft
          Lot size: 24,829 sqft
        7. 3 beds, 2 full baths
          Home size: 958 sq ft

        See all City of San Diego Real Estate.
        (all data current as of 4/26/2017)

        Listing information deemed reliable but not guaranteed. Read full disclaimer.

        Be Sociable, Share!

           

          Real estate professionals across the nation are as busy as ever!

          Everybody in the Real Estate industry is saying the same thing, “the market is hot!” This is what we are hearing around town and it’s also what we are hearing nationwide.

          We have very low inventory levels in San Diego County right now, when you combine that with a lot of buyers entering the market we are going to have a supply and demand issue and most likely see prices continue to climb. One other factor that could be driving buyers into the market is the fact that the Fed has released statements promising to raise interest rates. This is alarming for buyers because if interest rates jump another 0.5% this could push them into a payment they don’t feel comfortable with. However even if rates jump to 5% nobody expects this to affect our market in a negative way. This simply shows that we are in a strong economy and there is confidence in the real estate market.

           

          Now it’s time to look at the numbers.

          Closed Sales were down 15.8% compared to this time last year, however Pending Sales were UP 12.3% . We believe this is from the lack of inventory and buyer activity we had last year in December. THe good news for sellers is that days on Market was down 6.5%, and the Median Sales Price was up 7.6% to $572,190 for Detached homes and 4.3% for Attached homes. Overall outlook looks promising for the real estate market. Onward and upward!

           

          BUYERS ADVICE

          With the limited amount of inventory on the market buyers must be aggressive and active when searching for a home. Remember to hire a Realtor, get all your ducks in a row (Pre-approved), and actively look daily. Keep up the good work, the right opportunity will come! Find Your Home Today.. ​​​​​​​​

           

          SELLERS ADVICE

          The ball remains in your court. Continued low inventory keeps bringing multiple offer situations. Now is the best time to set a new record sales price for your neighborhood!

          Find out how much your home is worth! Click Here

           

          1. 2 beds, 2 full, 1 half baths
            Home size: 1,279 sq ft
          2. 2 beds, 2 full baths
            Home size: 1,063 sq ft
          3. 3 beds, 2 full baths
            Home size: 1,232 sq ft
            Lot size: 3,999 sqft
          4. 2 beds, 2 full, 1 half baths
            Home size: 1,348 sq ft
            Lot size: 1,306 sqft
          5. 3 beds, 2 full baths
            Home size: 1,134 sq ft
            Lot size: 7,499 sqft
          6. 5 beds, 3 full baths
            Home size: 2,465 sq ft
            Lot size: 24,829 sqft
          7. 3 beds, 2 full baths
            Home size: 958 sq ft

          See all City of San Diego Real Estate.
          (all data current as of 4/26/2017)

          Listing information deemed reliable but not guaranteed. Read full disclaimer.

          Be Sociable, Share!

            What’s in store for the 2017 Real Estate Market???

            First we need to look back at what happened in 2016. 2016’s story was a story of consistent growth. We saw month over month increase in prices for 11 out of 12 months, and nationwide we saw this trend for 10 out of 12 months. The year-over-year comparison shows that the number of homes for sale has been fewer in most communities throughout San Diego, and the average Days on Market has decreased over 18%.

            What does this tell us about the upcoming 2017 year?

            It tells us that we are going to see a strong, stable, and constantly growing market.

            We will continue to see a trend of low inventory which in turn will continue to drive prices up. We will continue to see buyers enter the market due to high rental prices and still historically low interest rates. Also, we will continue to see consumer confidence in our market here in San Diego due to population and job growth, simply because San Diego is awesome!

            To back all this up here are the stats: 
            In December Sales increased 19.1% YoY, Inventory decreased 14.3% YoY, and the Median Sales Price was up 5.6% to $561,250 for Detached homes and 8.8 percent to $370,000 for Attached homes. This all shows us that we are heading into 2017 with a strong market behind us!

            BUYERS ADVICE

            We have extremely low inventory right now, but this is largely due to the lack of sellers willing to list their homes during the Holidays. We tend to see inventory pick up come late January early February. I am advising all my clients to get their ducks in row now (Or 5 months before they plan to buy) that way when inventory picks up they will be ready.

            Start your search here

            SELLERS ADVICE

            As long as inventory stays low you will be in the driver’s seat. Think about it this way, if you need to rent the home back from the buyers, or make your sale contingent on you finding suitable housing, that is more likely to be acceptable now due to low inventory. That’s of course as long as your home is marketed properly, shows well, and is priced right!

            Want to know how much your home is worth? Click Here

             

            1. 2 beds, 2 full, 1 half baths
              Home size: 1,279 sq ft
            2. 2 beds, 2 full baths
              Home size: 1,063 sq ft
            3. 3 beds, 2 full baths
              Home size: 1,232 sq ft
              Lot size: 3,999 sqft
            4. 2 beds, 2 full, 1 half baths
              Home size: 1,348 sq ft
              Lot size: 1,306 sqft
            5. 3 beds, 2 full baths
              Home size: 1,134 sq ft
              Lot size: 7,499 sqft
            6. 5 beds, 3 full baths
              Home size: 2,465 sq ft
              Lot size: 24,829 sqft
            7. 3 beds, 2 full baths
              Home size: 958 sq ft

            See all City of San Diego Real Estate.
            (all data current as of 4/26/2017)

            Listing information deemed reliable but not guaranteed. Read full disclaimer.

             

            Be Sociable, Share!

              Are Millennials driving today’s housing demand?

              All signs point to YES! With 42% of all homes sold by Millennials, I think it’s sdar-november-2016-mkt-overviewsafe to say they are a huge factor to this thriving housing market. Millennials are all grown up and ready to embark on their home-buying journey, which in turn is making their parents, a.k.a. “empty-nesters” realize, it might be the time to downsize. I believe both of these factors combined with low interest rates are causing this strong housing demand. Here are some numbers to back that up:

              Pending Sales increased 17.6% for Detached homes and 15.4% for Attached homes. Which in turn caused inventory for Detached homes to decrease 12.4%, and a staggering 28.7% for Attached homes. With this huge decrease in homes for sale you can guess what happens next.

              yes prices have gone up! The Median Sales Price is up 8.6% for Detached homes, and 10.3% for Attached properties year over year. Yes you heard me right, over 10% increase in values for most Attached Homes. The best part about it, there are no signs of this slowing down going into next year.

              BUYERS ADVICE

              If you’re wondering why there are very few houses on the market, know that it is only going to get worse going into the Holidays. We usually see a slight slow down through November however come December we will see even less homes come to market. However we also see a lot of buyers stop their search during the Holidays so that means potentially less competition for you! See if there are any homes available in the area you are looking for Click Here 

              SELLERS ADVICE

              We keep hearing from our clients that they have been told that the market is slow during this time of the year. All I have to say is look at the numbers, the numbers never lie! Pending Sales have went through the roof and inventory levels are down, those numbers tell us it’s a perfect time to sell. Want to know the value of your home? Find out for free here

               

              1. 2 beds, 2 full, 1 half baths
                Home size: 1,279 sq ft
              2. 2 beds, 2 full baths
                Home size: 1,063 sq ft
              3. 3 beds, 2 full baths
                Home size: 1,232 sq ft
                Lot size: 3,999 sqft
              4. 2 beds, 2 full, 1 half baths
                Home size: 1,348 sq ft
                Lot size: 1,306 sqft
              5. 3 beds, 2 full baths
                Home size: 1,134 sq ft
                Lot size: 7,499 sqft
              6. 5 beds, 3 full baths
                Home size: 2,465 sq ft
                Lot size: 24,829 sqft
              7. 3 beds, 2 full baths
                Home size: 958 sq ft

              See all City of San Diego Real Estate.
              (all data current as of 4/26/2017)

              Listing information deemed reliable but not guaranteed. Read full disclaimer.

              Be Sociable, Share!
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