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That’s it… I Need to Set the Record Straight…

We are NOT Facing Another Housing Bubble!!

 

Last week, our team and myself attended the annual National Real Estate Conference downtown where we were fortunate enough to be audience to a multitude of panels comprised of the best-of-the-best in all areas of real estate – many market issues were discussed but the topic brought up by all panelists from builder reps, to city councilmen, to economics professors surrounded this mounting nationwide concern of a potential market bubble.
 
Let’s set the record straight here… experts agree – the issue is not when the bubble will happen, but rather when will this inventory crisis end ?!
 
Let’s compare this year’s numbers to when we did experience the market crash in 2007 –  the calculated scales are currently tilted slightly in favor of buying vs. renting, versus the extreme opposite where 2007 pointed severely in favor of renting as the more affordable option (when considering renting costs vs. the current conventional loan offerings). Also in 2007, we were building in excess with 225,000 homes per year (in California), however despite today’s population having grown by 4 million, we are building under 80,000 homes per year. What shocks me here is how we are growing by nearly 400,000 people each year, yet only building 80,000 new homes..?! Something doesn’t add up here! 
 

Here’s what I’m talking about:

Buyers Advice: 
 
Don’t believe the hype around buying a fixer! Due to San Diego’s high demand for homes, our fixer-upper properties are not selling for that much less than the move-in ready homes. Most of the time, it is actually more affordable to buy a home already remodeled, rather than putting up the capital yourself after purchase. Also, it’s going to be easier for most San Diegans to increase your loan by $50K to buy that move-in ready home, versus a fixer and $70K+ paid out of pocket in order to do a similar remodel.
However, if you are still interested in a fixer, here’s a good place to start:
 
Sellers Advice: 
 
Hire a designer, not a stager! While staging usually does pay for itself and typically helps homes sell much faster, the typical seller in today’s market is still living in the home they wish to sell and it’s a designer they need, not a stager. We like to hire our interior designer to go through the home and create a list of things that should to be changed, all while using the clients furniture already in home to ‘stage’. This saves our clients money while still getting top dollar for their homes!
See what else we offer our sellers: Click Here 
 

  1. 3 beds, 3 baths
    Home size: 2,175 sq ft
    Lot size: 6,098 sqft
  2. 4 beds, 2 baths
    Home size: 1,352 sq ft
    Lot size: 6,599 sqft
  3. 4 beds, 2 baths
    Home size: 1,772 sq ft
    Lot size: 7,840 sqft
  4. 3 beds, 2 baths
    Home size: 1,514 sq ft
    Lot size: 8,712 sqft
  5. 4 beds, 3 baths
    Home size: 1,973 sq ft
  6. 4 beds, 3 baths
    Home size: 1,958 sq ft
  7. 3 beds, 2 baths
    Home size: 1,120 sq ft
    Lot size: 6,098 sqft

See all City of San Diego Real Estate.
(all data current as of 12/18/2017)

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

 
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    San Diego Real Estate Update, September 2017

    Fall is Here! 

    Weather is Finally Cooling Down…

    But When Will this HOT Market Do the Same ??

    This time of year marks the bittersweet transition out of summer & into fall. Life seems to slow down as the weather starts to cool & the kids are back in school. Similarly, the housing market has historically seen a slight cool down in buyer activity around this time.
     
    However, market savvy buyers and sellers know that deals can still be made well into the school months – and with inventory levels still very low, we can expect competition to remain fierce to buy available listings. We are seeing very low days-on-market with multiple offer situations becoming less and less unusual for sellers on today’s market.

    All-in-all, as San Diego may now be finally cooling down outside, it’s safe to say that the heat in this housing market is here to stay!   Here are some stats to back that up…

    • Closed Sales decreased 6.4 percent for Detached homes and 11.0 percent for Attached homes.

    • Inventory decreased 27.9 percent for Detached homes and 22.1 percent for Attached homes. 

    • Days on Market decreased 9.4 percent for Detached homes and 15.4 percent for Attached homes. Supply decreased 31.0 percent for Detached homes and 21.1 percent for Attached homes. The prevailing trends lasted through summer.

    Buyers Advice: 
     
    We are so often asked the same question, “when is a good time to buy?”. Without a crystal ball, it’s hard to give a definitive answer for that question, but what we like to say is that the best time to buy is simply when you are able to buy. With home values still on the rise, there is a lot of talk that there will be an increase in mortgage rates within the year – so if you were thinking of buying in the next year or so, you should try to do so sooner than later to avoid facing higher monthly payments!
     
    * Pro Tip: Speak with a lender to help determine what monthly payments you are comfortable making.. Don’t have a Lender? We have some great recommendations! 
     
     
    Sellers Advice: 
     
    Sellers are seeing their homes sell with multiple offers in a very short amount of time, and for Top Dollar! We are in a HOT Sellers’ Market – Sellers carry most of the control here. With more pressure on buyers to make a purchase, buyers might be willing to make more concessions to help you accept their offer and seal the deal. You may be able to ask to rent-back the home for a short period to give you more time for moving and/or make your home sale contingent upon you first finding a new place to live.
     
    Of course, the best approach to help optimize your home sales return is to simply have the right agent in your corner. Be sure to find an agent that is dedicated to you & deliver your best results!
     

    1. 3 beds, 3 baths
      Home size: 1,333 sq ft
      Lot size: 1.34 ac
    2. 3 beds, 3 baths
      Home size: 2,175 sq ft
      Lot size: 6,098 sqft
    3. 3 beds, 3 baths
      Home size: 1,368 sq ft
    4. 2 beds, 3 baths
      Home size: 1,108 sq ft
      Lot size: 1.31 ac
    5. 2 beds, 2 baths
      Home size: 1,477 sq ft
    6. 2 beds, 2 baths
      Home size: 997 sq ft
    7. 3 beds, 2 baths
      Home size: 1,851 sq ft
      Lot size: 4,791 sqft

    See all City of San Diego Real Estate.
    (all data current as of 12/18/2017)

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

     

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      Just Listed!  

      OPEN HOUSE ALERT!!! 

      Join us this weekend to see this beautiful, Move-in Ready townhome for yourself – Don’t hesitate, this one won’t last!!

      OPEN HOUSE! This Saturday, Nov. 18th from 11-2  !!

      660 Hatfield Drive,  San Marcos, CA 92078

      $415,000

      2 Bedrooms Tri-Level Townhome
      2.5 Bathrooms 2-Car Attached Garage
      1209 sq.ft. Coronado Ranch Community

      Move-in Ready! This beautiful 2 bed/2.5 bath/1209 sqft townhome is located in the desirable gated community of Coronado Ranch! Perfect Starter Home or Investment Rental Property!

      Located in Coronado Ranch, San Marcos

      Well-maintained, tri-level townhome features open concept kitchen with large island, SS appliances, granite countertops & stunning dark cherry cabinets with adjoining dining & living area on main level. Sliding glass doors lead out to large balcony off the living room. Upstairs offers two master suites with private baths and walk-in closets. Charming & thoughtful details throughout; including arched doorways, window treatments, designer lighting and custom built-ins. Attached two car garage below with W&D and ample storage.  

      Awesome location! Easy walk to Cal State San Marcos, commuter routes, restaurants & shopping! Several community amenities, including a pool, hot tub, gym, playground, clubhouse & BBQ area! 

      Affordability  •  Great Location • Award-winning Schools • Walk to CSUSM • Close to 78 & 15 Freeways • Great Starter Home/Rental Opportunity!

      NOT ON MLS!  See this awesome townhome BEFORE it hits the market!!!

      Want to See More? Just call Joseph for a Private Tour  

      (760) 209-8333

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        Is this Price Climb Over Yet??

        For the last two years, we have watched the steady climb of home prices happen across the nation. For us here in San Diego, we have actually been experiencing this rise for almost 7 years now… and shows no sign of slowing down! 

        Just this summer, prices have already made a 6% average increase across the county…that happened in just 2 months?? So after 7 years, you can imagine how significant an impact this has been on some homes!

        The climb is a direct result of the current market’s lack of inventory. We currently hold 26.7% less inventory today than we did a year ago. That means that active home sales today become hosts to lots of multiple offer situations, lots of appraisal issues and LOTS of happy sellers! 

        But we have to wonder, when is this going to slow down??

        My short answer is yes, maybe and no. Summer is coming to an end, and we can expect to see a slight decline in buyer activity during this time..however with this consistent inventory shortage plaguing our current housing market, we can’t be certain whether or not this brief lull in activity will have a leveling impact on the market.  What we need to have happen is for our inventory to increase up to a 3-month supply. This would allow for the market to finally regain balance and prices to level out to a more stable 3% rise per year. While the solution really is that simple in theory, the real world here continues to show no indication of this happening any time soon, therefore our prices will continue to climb with no signs of slowing down.

        Here are some stats to back that up…

        The Median Sales Price is up to 10.7% to $620,000 for Detached homes, and 6.7% to $405,000 for Attached homes. Closed Sales decreased to 8.6%, Pending Sales increased 5.55%, however the largest and most jarring market change is the decrease in inventory down 26.7% from last year – this caused the Days on Market time to decrease down to 12.6%.

        All in all, these indicators point to a strong, healthy market that is not showing signs of slowing down any time soon.

         

        1. 3 beds, 3 baths
          Home size: 1,333 sq ft
          Lot size: 1.34 ac
        2. 3 beds, 3 baths
          Home size: 2,175 sq ft
          Lot size: 6,098 sqft
        3. 3 beds, 3 baths
          Home size: 1,686 sq ft
        4. 3 beds, 3 baths
          Home size: 1,686 sq ft
        5. 3 beds, 3 baths
          Home size: 1,368 sq ft
        6. 2 beds, 3 baths
          Home size: 1,108 sq ft
          Lot size: 1.31 ac
        7. 2 beds, 2 baths
          Home size: 1,477 sq ft

        See all City of San Diego Real Estate.
        (all data current as of 12/18/2017)

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

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          NEW Luxury Townhomes at Sombrilla!

          311 South Myers St., Unit 2

          Oceanside, CA 92054

          Have it all! Modern design & scenic ocean views from this luxury townhouse at Sombrilla! Thoughtful architectural design and top of the line interior finishes set this home apart from anything else this close to the beach. This impressive 2+ bedroom, 2.5 bath townhome is a tribute to modern excellence through stunning design, luxurious finishes and captivating views. 

          You’ll enjoy spacious living inside its 3 levels of sleek hardwood floors with natural lighting flowing in abundance through the skylights and magnificent floor-to-ceiling windows, plus a flexible open loft space that could be an optional 3rd bedroom.

          Top floor master suite extends over an entire floor complete with exquisite master bath, custom walk-in closets, and 2 large outdoor patios – featuring picturesque white water ocean & pier views!

          Open the large patio doors to welcome in calming/cool ocean breezes into your master suite. Fall into a deep, restful sleep by the peaceful lull of ocean sounds, and in the coolness of the ocean breeze..

          Located only steps away from San Diego’s finest beach – you’ll love coming home to this luxury Oceanside oasis! Get into an amazing luxury home in a great location while you can!

          Want to see more? Call Joseph – (888) 503-3117

          Oceanside is currently a great beachside community with gorgeous white sand beaches. You can’t get this beachside experience or investment value anywhere else in San Diego – and with several town projects currently in motion to revitalize the area, you won’t be able to get a property of this caliber for this low price again. This property is only steps to the sand in a great & up-and-coming area; truly a value investment property that will only appreciate over time! Get in now for a truly luxurious property for an unbelievable value!

          Call Joseph – (888) 503-3117

           

           

           

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            We are feeling the pain… the inventory shortage pain!

             

            We have seen a slowdown in sales in most parts of San Diego… but we continue to see prices increase! This is because we still have a lot of buyers entering the market, presumably due to our thriving local economy, our unemployment rate being well below the national average, and we have also seen wages increase.  So what can we expect moving forward? We will continue to see the crunch on inventory which, in turn, will cause bidding wars and price increases. For homeowners who are thinking about selling? This is great news! For buyers? Not so much… However, we are expecting to see a spike in new development with lots of new construction hitting the market in the next 4-12 months, so stay tuned!

             

            Here are some stats to back that up:

            Closed sales decreased 8.7% compared to this time last year, the more shocking number is that Inventory has decreased 26.4%! Yes that is a big difference and something that needs to increase if we wish to see a more stable controlled market. This has caused our Median Sales Price to increase 10.1% across the county.

             

            July 2017 Real Estate update

            Buyers Advice: 
             
            Buyers really need to be patient, yet aggressive. Be patient by resisting the urge to jump into a deal just because the market is so competitive – wait until you find the right deal, and then be aggressive and go after it! Remember, having the right agent at the ready is a great way to ensure you will have a strong offense to close the deal.
            For helpful tips, watch my video for 3 Buying Hacks!  
             
             
            Sellers Advice: 
             
            This market is hot and when you are selling anything, timing is everything. So if you are thinking of selling this year, now is the time to do it. Make sure to hire a great agent who will be looking out for your best interest. There is a common scam we are seeing happen right now – don’t let this be you! Watch this video to learn more.
             

            1. 3 beds, 3 baths
              Home size: 1,333 sq ft
              Lot size: 1.34 ac
            2. 3 beds, 3 baths
              Home size: 2,175 sq ft
              Lot size: 6,098 sqft
            3. 3 beds, 3 baths
              Home size: 1,686 sq ft
            4. 3 beds, 3 baths
              Home size: 1,686 sq ft
            5. 3 beds, 3 baths
              Home size: 1,368 sq ft
            6. 2 beds, 3 baths
              Home size: 1,108 sq ft
              Lot size: 1.31 ac
            7. 2 beds, 2 baths
              Home size: 1,477 sq ft

            See all City of San Diego Real Estate.
            (all data current as of 12/18/2017)

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

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              The Battle Continues… the Inventory Battle that is!

              Throughout most of the County, we continue to battle an inventory shortage issue which is causing home values to significantly increase. This condition has lead many people to believe that we must be in some type of market bubble; however, the problem with this logic is that there are no valid indications of the market slowing down. Quite the opposite. We live in a market now without subprime mortgages, $0 down loans, or no stated income loans – lenders have MUCH stricter qualifications that serve as a market safeguard during a rising sales spike. Now, if we apply the law of averages, we can predict that things will eventually slow down, but so long as inventory stays this low, all signs confirm that this competitive sales market is here to stay.

              Here are the numbers I am referring to…

              June 2017 San Diego Real Estate Market updates

              Closed sales have decreased -4.3% from this time last year, even worse is the current amount of inventory is down to -25.2% !!! With such minimal levels of inventory, of course the Median sales price has increased to 8% compared to this time last year, and caused the average days on market to decrease 31.2%.

               

              Buyers Advice: 

              This market is hot, so don’t get burned and rush to buy something out of fear. Get prepared and take your time… wait for the right opportunity to arise. For helpful tips, watch my video for 3 Buying Hacks!

              Click Here to Watch Video

               

              Sellers Advice: 

              If you have been on the fence about selling, it’s time to get off! You’ve probably seen a few signs go up in your neighbors’ yards, then in no time there’s moving vans bringing in your new neighbors. It’s clear that now is a great time to sell; however, we continue to get the same questions and concerns… what to do if you need to buy a home after selling ? Well… we have a guide for that!

              1. 3 beds, 3 baths
                Home size: 2,175 sq ft
                Lot size: 6,098 sqft
              2. 2 beds, 2 baths
                Home size: 1,359 sq ft
              3. 4 beds, 2 baths
                Home size: 1,352 sq ft
                Lot size: 6,599 sqft
              4. 4 beds, 2 baths
                Home size: 1,772 sq ft
                Lot size: 7,840 sqft
              5. 5 beds, 3 baths
                Home size: 2,967 sq ft
                Lot size: 5,127 sqft
              6. 3 beds, 2 baths
                Home size: 1,514 sq ft
                Lot size: 8,712 sqft
              7. 3 beds, 3 baths
                Home size: 1,490 sq ft
                Lot size: 2,613 sqft

              See all City of San Diego Real Estate.
              (all data current as of 12/18/2017)

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

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                1536 Sapphire Lane, Vista, CA 92081

                $675,000

                Beautifully remodeled home in the highly desirable community of Shadowridge, Vista! This home features everything you could want, including: amazing corner lot location, vaulted ceiling entryway, beautiful large windows, perfect floorplan, and a tranquil backyard setting. This home also offers amazing finishes such as hardwood floors, granite counter-tops, custom built cabinetry, gorgeous lighting, and amazing landscaping. Don’t forget about the 3 car garage, outdoor kitchen,and no HOA Fee! This one won’t last!

                4 Beds  Shadowridge Community
                2.5 Baths  HOA Fees: $0
                2,701 sq.ft.  Lot Size: 5,186 sq.ft.
                3-car, Attached Garage  Year Built: 1991
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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. 3 beds, 3 baths
                    Home size: 1,631 sq ft
                  2. 4 beds, 4 baths
                  3. 3 beds, 3 baths
                    Home size: 1,333 sq ft
                    Lot size: 1.34 ac
                  4. 3 beds, 3 baths
                    Home size: 2,175 sq ft
                    Lot size: 6,098 sqft
                  5. 3 beds, 3 baths
                    Home size: 1,686 sq ft
                  6. 3 beds, 3 baths
                    Home size: 1,686 sq ft
                  7. 3 beds, 3 baths
                    Home size: 1,368 sq ft

                  See all City of San Diego Real Estate.
                  (all data current as of 12/18/2017)

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

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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. 3 beds, 3 baths
                      Home size: 1,631 sq ft
                    2. 4 beds, 4 baths
                    3. 3 beds, 3 baths
                      Home size: 1,333 sq ft
                      Lot size: 1.34 ac
                    4. 3 beds, 3 baths
                      Home size: 2,175 sq ft
                      Lot size: 6,098 sqft
                    5. 3 beds, 3 baths
                      Home size: 1,686 sq ft
                    6. 3 beds, 3 baths
                      Home size: 1,686 sq ft
                    7. 3 beds, 3 baths
                      Home size: 1,368 sq ft

                    See all City of San Diego Real Estate.
                    (all data current as of 12/18/2017)

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

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