Search All San Diego Foreclosures

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. 4 beds, 3 full, 1 half baths
    Home size: 2,130 sq ft
    Lot size: 10,889 sqft
  2. 2 beds, 2 full baths
    Home size: 1,025 sq ft
  3. 3 beds, 2 full baths
    Home size: 1,128 sq ft
    Lot size: 10,890 sqft
  4. 2 beds, 2 full, 1 half baths
    Home size: 1,078 sq ft
  5. 3 beds, 2 full baths
    Home size: 1,280 sq ft
    Lot size: 5,662 sqft
  6. 2 beds, 2 full baths
    Home size: 1,286 sq ft
    Lot size: 26,190 sqft
  7. 3 beds, 2 full baths
    Home size: 1,313 sq ft
    Lot size: 39,639 sqft

See all City of San Diego Real Estate.
(all data current as of 5/28/2017)

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

Be Sociable, Share!

    MARKET BEHAVES AS PREDICTED AS WE ENTER THE FINAL MONTH OF 2016!!!

    As we head into the final month to wrap up 2016, not mOct snapshotuch has changed since the year began:

    Low interest rates and a small increase in prices month over month.

     

    Market predictions have been spot on! The market has kept a comfortable growing pace thanks to continuing high job growth and low mortgage rates.

    The one big drag on the market has been low inventory levels, unfortunately there is little to indicate that the low inventory situation will resolve anytime soon; some might say this is a good thing because it will keep us in this same pattern, however,

    I think with more inventory, we could see prices flatten out and finally see a flat consistent market.

    Here are some stats for what we saw last month: Pending Sales increased 9.6% for Detached homes and 8.0% for Attached homes. Inventory decreased 12.7% for Detached homes and 29.7% for Attached homes. The Median Sales Price was up 11.5% to $580,000 for Detached homes and 8.7% to $380,500 for Attached homes. Days on Market decreased 14.6% for Detached homes and 13.9%for Attached homes.

    With all these positive stats, builder confidence is higher than it has been a long time, yet new development is low because of the cost to build in San Diego is so high. I believe in 2017 we will see a lot more new construction hit the market which will help us get to more sustainable inventory level. However we will have to wait and see what 2017 brings us! Stay tuned next month for our 2017 predictions.

    BUYERS ADVICE

    Continue to look through the Holidays! A lot of buyers step away from looking during this time of the year, however we some of our investor clients find the best deals right around now. Less people looking means less competition so stay active! Click Here

    SELLERS ADVICE

    We have stopped listing homes for the remainder of the year and will not list until Jan 10th, this is because we know how important the first 2 weeks on market are and we want to make sure we have the biggest audience possible. So, enjoy the Holidays and use the time off to take care of all those little repairs that need to be done, then come January you can have your property ready for market!

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

     

    1. 4 beds, 3 full, 1 half baths
      Home size: 2,130 sq ft
      Lot size: 10,889 sqft
    2. 2 beds, 2 full baths
      Home size: 1,025 sq ft
    3. 3 beds, 2 full baths
      Home size: 1,128 sq ft
      Lot size: 10,890 sqft
    4. 2 beds, 2 full, 1 half baths
      Home size: 1,078 sq ft
    5. 3 beds, 2 full baths
      Home size: 1,280 sq ft
      Lot size: 5,662 sqft
    6. 2 beds, 2 full baths
      Home size: 1,286 sq ft
      Lot size: 26,190 sqft
    7. 3 beds, 2 full baths
      Home size: 1,313 sq ft
      Lot size: 39,639 sqft

    See all City of San Diego Real Estate.
    (all data current as of 5/28/2017)

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

    Be Sociable, Share!
      Web Design and Seo Services