san diego real estate market: San Diego Real Estate Correction is Not Over
- 06/23/10 10:21 AM
San Diego real estate sales, after the just expired tax credits, look like they are about to soften again.
It would seem that the federal tax credits merely postponed, delayed, or softened a meaningful and inevitable correction. Plus, I don’t know if low interest rates alone will keep existing home sales on the upswing, Don’t be fooled by the upcoming home sales reports because many of the homes that went under contract in April had closings scheduled for May and June.
Just like we saw with Cash for Clunkers, these government cash programs just pull sales forward with little real new … (0 comments)
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san diego real estate market: San Diego Real Estate Bottom?
- 04/21/09 04:08 AM
San Diego real estate market… I have the idea that many think our economic downturn will last forever, near capitulation point, so all the doom and gloom today, is to be expected.
Even though I'm more optimistic than some, a mid-2009 recovery seems a bit early to me; late '09 or sometime in '10 seems more likely.
In Orange County Calif., housing economist Mark Schniepp said:Home sales sharply higher (to their highest levels since October of 2005). Prices appear to be stabilizing in some areas; overall, prices during February were not off as sharply as they had been. For the … (3 comments)
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san diego real estate market: San Diego real estate - 2009
- 01/28/09 06:29 AM
Many local mortgage lenders feel that San Diego & Southern California were the prime locations for the adjustable Option ARM loans. Now, just when many believed the mortgage crisis was winding down, San Diego real estate will be facing another major obsticle.
My first post on this problem was San Diego Real Estate … The Coming Next Wave of Foreclosures, published on 7-17-08. It took a little while, but now the major media outlets have picked up on this problem.
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san diego real estate market: San Diego Real Estate … Are Interest Rates the Key?
- 01/13/09 08:23 AM
Will historically low interest rates be the key to turning around or putting a bottom in place for the San Diego housing bust? Mortgage rates are near their lowest levels in nearly 40 years. Plus, the government wants to offer new borrowers a 4.5% mortgage rate as an incentive.
But, if you are unemployed or worried about your job, what the current mortgage rates are, is of little importance. *To read the full post and see a video on this, please visit the San Diego real estate market blog.
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san diego real estate market: The Great San Diego Real Estate Bust
- 12/10/08 03:57 AM
This is a must watch video, with a lot of solid points.
This real estate bust is NOT fair! Already the California legislature is considering a four month moratorium on foreclosures. In July, a new California law requiring lenders to try a number of times to contact homeowners prior to filing a notice of default has delayed the foreclosure process by 30 days. Plus, Obama is said to be in favor of a 90 nationwide foreclosure moratorium. With the average mortgage payments in San Diego running about $2,000 a month, who is paying for these moratoriums? Just one guess! To help, … (3 comments)
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san diego real estate market: San Diego Home Loan Limits For 2009
- 11/22/08 09:39 AM
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
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san diego real estate market: San Diego Home Prices Drop 33% in October - Is A Bottom In Sight?
- 11/19/08 03:41 AM
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.
Use the links below to help you with your San Diego Real Estate Search and Information from your San Diego Realtor.
San Diego real estate blog
San Diego MLS home listings
San Diego neighborhood real estate activity
San Diego downtown real estate
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san diego real estate market: Housing Markets Are Local - Real Estate Conditions
- 11/05/08 04:18 AM
Local market patterns frequently differ from state and national trends. Differences in housing markets become more apparent when you compare neighborhoods, communities, and counties. For example, in some markets home prices may have fallen by large margins, even as much as 50 percent from their peak. But other markets have experienced small declines, and a few markets have registered slight increases on occasion in recent months. The same is true of the share of distressed sales in different markets.*To read the full post, please visit the San Diego real estate market blog
San Diego Real Esate Sales Increase San Diego … (0 comments)
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san diego real estate market: San Diego Home Mortgage Lenders …
- 11/02/08 05:05 PM
It's a shame, but in today's San Diego real estate environment, home lenders have taken on the personification of evil. It seems we are always hearing about San Diego banks or home mortgage lenders who do not want to work with homeowners in trouble.
Though this may have held some validity a year or two ago, it is just the opposite today. Effective July 1, 2008, a new California law mandates that the lenders try to contact and work with homeowners prior to filing a notice of default. *To read the full post, please visit the San Diego real estate blog
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san diego real estate market: San Diego Real Estate Market
- 10/06/08 06:30 AM
San Diego real estate is very scarce. Most of San Diego open space is owned by the military/Government/parks. So, San Diego real estate can never really go down much in value. If you don't buy a home in San Diego now, the rising prices will never let you purchase as good a value. Act now! *To view the full post, please visit the San Diego home sales blog
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san diego real estate market: The June Rise in Pending Home Sales
- 08/14/08 04:47 PM
The number of existing homes entering the purchase contract stage during June rose 5.3 percent after a downwardly revised decline of 4.9 percent in May. Sounds good at first blush, but, in San Diego and most other housing bubble areas, it is estimated that One-third of all home sales are now distressed properties. On a year-over-year basis, pending home sales are DOWN 12.3 percent. The real key for the San Diego housing market is NOT home sales, but, home prices! To me, today's San Diego anemic housing activity indicates that home prices will continue their fall and even accelerate in Winter … (0 comments)
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san diego real estate market: San Diego ... The Coming Next Wave of Foreclosures or It's Far From Over
- 07/29/08 06:34 AM
The first wave of foreclosures occurred due to the re-setting of some "sub-prime" loans. These loans were predominantly the 80/20 loans that were used to assist buyers to obtain property with no down payment. Later in the cycle of the origination of these loans, the documentation requirements were lessened considerably, so that by 2005, buyers were able to obtain 80/20 loans to purchase property with little- to no-income documentation. Buyers speculated on properties increasing in value and had little regard for the payments. As the loans re-set (usually 2-3 years later), the buyers found themselves unable to make the payments or … (0 comments)
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san diego real estate market: Will the Proposed Goverment Plans Stop the Slide?
- 04/15/08 07:30 PM
Former 22nd. Labor Secretary under President Clinton, Robert Reich has strong opinions on this subject. Mr. Reich is a graduate of Harvard, Oxford and Yale which add quite a lot of credibility to his views. He believes that the Fed's rescue plan will not work, because the average consumer is too heavily indebted to increase, or even sustain, spending in this recessionary environment, regardless of the easing of monetary policy. In inflation adjusted terms, the median wage today is below what it was in 1999. A man in his 30s earns 12% less than someone his age did 35 years ago. … (0 comments)
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san diego real estate market: #1 Question Asked About San Diego California Real Estate
- 03/14/08 08:54 AM
For San Diego, the summer of 2005 was the peak in the real estate bubble. Now almost 2 1/2 years into the steady deterioration of San Diego home values, the predominant question asked by most potential home buyers is: “Has the San Diego real estate market bottomed out, or when do you think the bottom will be in place?” Obviously, no one can accurately predict when any market, especially the San Diego real estate market, will bottom and reverse course, except in hindsight. California real estate agents and brokers are continually advised not to give legal advice or financial planning advice. … (5 comments)
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san diego real estate market: Home Sales & Prices Drop in the West
- 01/02/08 03:06 AM
The National Association of Realtors(R), released it's November report yesterday. The headline was a very modest increase in national home sales. What did not make the headlines was that existing-home sales in the West were 25.0 percent below a year ago and the median price in the West was 6.8 percent lower than November 2006.
*To view the full story, please visit the San Diego California real estate blog
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San Diego real estate sales, after the just expired tax credits, look like they are about to soften again.
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