Fed Cuts Interest Rate to Help Housing - 10/31/07 02:42 PM
The central bank cut its federal funds rate from 4.75% to 4.5%. The rate is what banks charge each other for overnight loans and affects everything from auto loans to credit card rates. A few of out prior posts about interest rates were:San Diego Home Values Fall 5.6% & Sales Drop … (0 comments)
Worst Wildfire in San Diego’s History - 10/23/07 11:16 PM
To date, it’s estimated over 250,000 acres have burned and over 1,200 homes have been damaged or destroyed. Tonight, it looks like the strong Santa Ana wind condition is ending. With much better weather forecasts, additional Federal water dropping aircraft and assets arriving, it is hopeful that this terrible event is … (5 comments)
San Diego California Wildfires - How to Help and Where Help is Needed - 10/23/07 09:27 AM
We hope this email finds you, family and friends safe and sound. Please take care of yourself, each other and stay tuned to radio and tv reports for the latest wildfire updates and official information. Here is information from the Surfrider community if you live in an unaffected area there are … (0 comments)
San Diego Real Estate … the Worst is Yet to Come - 10/18/07 11:07 PM
Thinking of selling your
San Diego home? Should you sell now or wait?
Who really knows? The only thing I can assure my clients of, is I will get them
the best possible price, buying or selling for the current market time. Where
market is going, is pure speculation
With that … (2 comments)
#1 Cause of San Diego Housing Value Decline - No, it’s NOT subprime loans! - 10/18/07 09:40 AM
Sure, a small percentage of home buyers, with poor credit, were taken advantage of by unscrupulous loan representatives between 2000 and 2005. However, in the middle to upper end San Diego neighborhoods in which I work, this is not the problem. The simple truth is that the problem was GREED! Yes, … (5 comments)
San Diego Condo Values Plunge - 10/18/07 03:26 AM
For San Diego, the market top was around the summer of 2005. Since than, many neighborhood real estate values have been on a continuing decline. A very important point to keep in mind, is that most published sales data (including chart data below) do not reflect the very prevalent buyer concessions … (0 comments)
San Diego Home Appraisal Accurate? - 10/18/07 03:18 AM
Working mostly as a listing broker, I always receive calls from appraisers who want to confirm the reported MLS sales price, ask about the condition of the property and if the seller gave any buyer concessions. By concessions, I’m referring to payment of buyers closing/loan costs or adding some improvement to … (0 comments)
Housing Market - Ben Bernanke Fed Chief - 10/18/07 03:13 AM
Fed Chief Bernanke said the deepening housing slump will probably keep dragging on economic growth, but he again pledged to "act as needed" to help the financial markets. Also, today Treasury Secretary Henry Paulson warned: "But let me be clear, despite strong economic fundamentals, the housing decline is still unfolding and … (0 comments)
San Diego Real Estate — It’s Always Tough To Go Against The Majority Opinion - 10/15/07 01:37 PM
In the San Diego California real estate market in 2005 the real estate community and prevaling majority opinion was that all the real estate bubble talk was just that ....talk, based on on unfounded opinion. I guess I could have joined the crowd, but I had seen too many signs of … (0 comments)
San Diego condo values Drop Over 30% in One Year! - 10/13/07 05:27 PM
For San Diego, the market top was around the summer of 2005. Since than, many neighborhood real estate values have been on a continuing decline. Largest value drop on the chart below was 34.2% in Mission Valley (92108). In Mission Valley there were 30 sales in 2007 and 32 sales in … (0 comments)
The Fed rate is a great move, but, at least as far as housing goes in San Diego, will be of little help. - 10/13/07 05:03 PM
The San Diego homeowner who purchased in 2005 even with a FIXED rate loan for 90% of the purchase price, will today find that the mortgage amount is in many cases thousands of dollars greater than the current resale value. *Please click San Diego real estate blog to view the full … (0 comments)
Home Mortgage Rates Actually HIGHER After Fed Rate Cut! - 10/13/07 10:19 AM
Watching San Diego home mortgage rates, it seemed to me that they had
actually increased after the 1/2 percent Fed rate cut. To confirm this, I
contacted one of San Diego's largest home mortgage lenders. Here is his reply:
Please note that mortgage rates are very
VERY individualized, now more … (2 comments)
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The central bank cut its federal funds rate from 4.75% to 4.5%. The rate is what banks charge each other for overnight loans and affects everything from auto loans to credit card rates.
