The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported today that Home sales increased 117.1 percent in October in California compared with the same period a year ago, while the median price of an existing home fell 39.9 percent.
“The year-to-year decline in the statewide median home price was smaller in October than the previous month for the first time in 11 months,” said C.A.R Vice President and Chief Economist Leslie Appleton-Young. “However, there is still no conclusive indication that prices have begun to stabilize.” For San Diego, the report showed the median home price for October was down 9.6% vs. September and off 37.4% from October 2007.*To view the full post and charts, please visit the San Diego real estate market blog
The Standard & Poor's/Case-Shiller U.S. National Home Price Index just released, tumbled a record 16.6% during the quarter from the same period a year ago. Prices are at levels not seen since the first quarter of 2004. The 20-city index fell by 17.4% in September compared with a year ago, the largest drop since its inception in 2000. *To view the full post, please visit theSan Diego real estate market blog
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The Federal Reserve said it will buy up to $100 billion in direct obligations from mortgage giants Fannie Mae and Freddie Mac as well as the Federal Home Loan Banks. The Fed also will buy $500 billion in mortgage-backed securities, pools of mortgages that are bundled together and sold to investors.
The National Association of Realtors just released data showing existing-home sales – including single-family, townhomes, condominiums and co-ops – fell 3.1 percent in October. NAR's chief economist, Mr. Lawrence Yun, said: “Many potential home buyers appear to have withdrawn from the market due to the stock market collapse and deteriorating economic conditions. We have favorable affordability conditions, but we need more than that to give buyers with jobs the confidence they need.*To view the full post, please visit the San Diego real estate agent sales blog
In a report released by MDA DataQuick the median sales price for homes in Southern California fell to $300,000 in October, a level not seen since 2003 and a 41% drop from the peak price set in the spring and summer of 2007. *To view the full post, please visit the San Diego real estate agent blog
Zillow Real Estate Market Reports just released a report that shows home values in San Diego decreased -14.70% in the third quarter of 2008, compared to the third quarter of 2007. This San Diego value loss was 5% greater than the national home value drop for the same period. San Diego real estate
The loan limits for FNMA had been at $417,000 going into this year. As part of the "Economic Stimulus Package" the limits were raised based on a formula to a maximum amount of $729,250. The current loan limit under the formula is $697,500 in San Diego County. These loan limits will expire on January 1st.*To read the full post, please visit the San Diego real estate blog
Whether investing in real estate or the stock market, one should not ignore losses because of an irrational belief in the mantra "I'm investing for the long term.” Smart investors always set stop loss points to limit their downside risk. *To view the full post and chart graphic, please visit the San Diego California real estate blog.
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DataQuick, a San Diego based real estate tracking company released a report showing the median price for homes and condos in San Diego California tumbled to $300,000 last month from $445,000 in October 2007.
The good news is that there were 21,532 homes and condos sold in Southern California last month, up 67 percent from the year-ago period.
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Bob Schwartz | www.brokerforyou.com | 619-286-5604
8028 Mission Vista Drive, San Diego, CA
San Carlos 3Br/2.5Ba w/Mountain & Canyon Views
3BR/2.5BA Townhouse
offered at $405,000
Year Built
1983
Sq Footage
1,538
Bedrooms
3
Bathrooms
2 full, 1 partial
Floors
2
Parking
Unspecified
Lot Size
3,571 sqft
HOA/Maint
$88 per month
DESCRIPTION
Most desirable and largest 3 Br. floor plan in Belaire! Semi-attached PUD w/Cent. Air! Premium location w/panoramic views! Newer (Apprx. 3Yr old) copper water pipes & newer roof! Fireplace, cathedral ceilings, 2 car attached garage! Two Br’s have been combined to make a very spacious 2nd. Br. (can be easily restored).
If you have a buyer who likes a view, this home will sell itself!! Newer Roof! Home has been totally re-plumbed with copper water pipes. Upgraded gas stove & space saver micro, breakfast nook, central air, tile & hardwood flooring, upgraded bath sinks, mirrored closets rear yard wood decking. This model combines warm traditional New England styling with modern space, beauty, convenience and efficiency. Spacious living room with dramatic vaulted ceiling. Good sized kitchen with Breakfast nook, Quality cabinets - tile counter tops and a water line for icemaker. Formal dining room bay window. A real feeling of spaciousness and style! All windows dual glazed for energy conservation. Attached garage w/opener & direct access into home. Spacious Master Bedroom! Low dues provide front lawn/greenbelt maintenance. Belaire is a world away in feeling...a world of green hillsides, natural canyons, the San Diego River, and a very attractive community. Right next door is the 5,700- acre Mission Trails Regional Park, one of the nation¹s largest urban-area parks, a preserved wonderland of rugged back country, deep gorges, wood-shaded creeks, lake and hiking trails. Truly, a very unique place to live and share in all that San Diego has to offer without a long commute. All measurements are approximate. Sq. Ft. per tax rolls. Seller to select all related services. Really a must see home and community!
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Central A/C
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