Posts
Wednesday, September 12, 2007
3 Stories
In California it is no secret land is at a premium and I believe we are really seeing that now as the amount of 3 story condos seems to be increasing. I have previewed many of these units and I have come to the conclusion you better like stairs. I am curious to see how the sales will do. I personally when I make my next move will be to a single level, but here that is no easy task. I work with many buyers who like single level living as well. I will be surprised to see how there sales go.
Friday, July 27, 2007
Proceed With Caution
There has been much talk in this market about forclosures, short sales and auctions. Many buyers call me and say they want these what they mean is they want a great deal. What most buyers do not know with the lower price tag comes with costs in other places. Because the seller is no longer owning the home the buyer will not receive disclosures meaning information pertaining to the condition of the home. Banks may or may not cover the costs for a termite inspection and repair which means the buyer will need to pay for this in addition they will need to purchase their own home warranty. These are all services normally provided by the seller. When you go to the auction prices are normally brought well below market to generate interest. I have found with some of these auctions the buyer is required is to pay a 5-10% fee on top of the final purchase price of the home. So the buyer is actually covering the normal percentage the seller pays to a real estate agent to sell there home and secure a buyer.
So why do I bring this up?? There is currently 13 months of inventory in San Diego County on the Multiple listing service. With so many homes to choose from find a home where it is still owned by the seller and is reasonable with expectations to selling there home. You can find your "Deal" there!
So why do I bring this up?? There is currently 13 months of inventory in San Diego County on the Multiple listing service. With so many homes to choose from find a home where it is still owned by the seller and is reasonable with expectations to selling there home. You can find your "Deal" there!
Tuesday, March 27, 2007
Newer Home With Room To Grow
Thursday, March 08, 2007
Tuesday, March 06, 2007
If I May?
My Job here is to post the latest real estate news and I can say the worst that was expected did not seem to happen at least not yet. Rates are good prices have come down but we are still hanging in there, and I have come across a great loan program to be posted next, but If I may I would like to completely step out of base and mention something exciting in my small family. After 2 weeks of Lake Hodges being open and fishing being poor according to the North County Times (2/22/07) "There were 185 anglers who reported 52 bass and and 21 crappie. Top catch was John Sturm, Oceanside, on a top water bait."
John Sturm would be my husband who is an devoted bass fisherman as well as a devoted husband and son, and technology coordinator at Pacific View Charter School.
Yes I would like to sing his praises as he would never think to. To my wonderful husband ! Way to go John! I love you! Stay tune as I get back to Real Estate and share a new loan program with you. Take Care.
John Sturm would be my husband who is an devoted bass fisherman as well as a devoted husband and son, and technology coordinator at Pacific View Charter School.
Yes I would like to sing his praises as he would never think to. To my wonderful husband ! Way to go John! I love you! Stay tune as I get back to Real Estate and share a new loan program with you. Take Care.
Sunday, January 07, 2007
Downtown Is Booming!
I am very excited with what is happening in downtown Oceanside. There is the Fairfield Time Share Resorts, on the southeast corner of Pacific Street and Civic Center Drive. This project is scheduled to be completed in 2007.
We also will be seeing a Westin hotel as well. I was surprised myself to see all the development that will be placed. Such as the future home of Oceanside Terraces. There will be two levels of underground parking that will serve this mixed-use project. It is adjacent to the Regal Cinemas, on Cleveland Street and Mission Avenue, Oceanside Terraces will include restaurant and commercial space, offices, and 38 condominiums.
There are many other sites and what seems to be the theme is these will all be multi level buildings that will include commercial areas, retail, as well live-work lofts. I think Oceanside is being rediscovered and next? (The San Diego Chargers) Stay tuned!
We also will be seeing a Westin hotel as well. I was surprised myself to see all the development that will be placed. Such as the future home of Oceanside Terraces. There will be two levels of underground parking that will serve this mixed-use project. It is adjacent to the Regal Cinemas, on Cleveland Street and Mission Avenue, Oceanside Terraces will include restaurant and commercial space, offices, and 38 condominiums.
There are many other sites and what seems to be the theme is these will all be multi level buildings that will include commercial areas, retail, as well live-work lofts. I think Oceanside is being rediscovered and next? (The San Diego Chargers) Stay tuned!
Thursday, January 04, 2007
November Existing Home Sales Rise Again
November Existing-Home Sales Rise Again
RISMEDIA, Jan. 2, 2007-Existing-home sales continued to recover last month following a rise in October, with the level of sales activity suggesting a turn in the market, according to the National Association of Realtors®.
Total existing-home sales - including single-family, townhomes, condominiums and co-ops - rose 0.6% to a seasonally adjusted annual rate of 6.28 million units in November from a level of 6.24 million in October, but were 10.7% below the 7.03 million-unit pace in November 2005.
David Lereah, NAR's chief economist, said modest gains are expected for home sales. "As the housing market recovers from its correction, existing-home sales should be rising gradually during 2007 - it looks like we may have reached the low point for the current cycle in September," he said. "We've entered a more sustainable period of home sales now, and we expect greater support for prices over time as inventory levels are eventually drawn down."Total housing inventory levels fell 1.0% at the end of November to 3.82 million existing homes available for sale, which represents a 7.3-month supply at the current sales pace.
The national median existing-home price for all housing types was $218,000 in November, which is 3.1% lower than November 2005 when the median price was $225,000. The median is a typical market price where half of the homes sold for more and half sold for less. "For every 1.0 percent drop in home prices, we project an additional 50,000 buyers are drawn into the market," Lereah said.
According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage was 6.24% in November, down from 6.36% in October; the rate was 6.33% in November 2005.
NAR President Pat Vredevoogd Combs, from Grand Rapids, Michigan, and vice president of Coldwell Banker-AJS-Schmidt, said the performance of long-term interest rates is a pleasant surprise. "Mortgage interest rates are the lowest they've been since January, and it's the first time since August of 2005 that interest rates are lower than a year earlier," said Combs. "This is increasing buying power at the same time that sellers are showing a willingness to negotiate price and terms. Combined with a plentiful supply of homes on the market, there's a window for buyers now with conditions that we haven't seen prior to the beginning of the housing boom in 2001."
Single-family home sales increased 0.2% to a seasonally adjusted annual rate of 5.52 million in November from a pace of 5.51 million in October, but were 10.2% lower than the 6.15 million-unit level in November 2005. The median existing single-family home price was $217,200 in November, which is 3.6% lower than a year ago.
Existing condominium and cooperative housing sales rose 3.1% to a seasonally adjusted annual rate of 757,000 units in November from a downwardly revised 734,000 in October, but were 13.6% below the 876,000-unit pace in November 2005. The median existing condo price was $224,600 in November, which is unchanged from a year ago.
Regionally, existing-home sales in the Northeast increased 6.0% to a level of 1.06 million in November, but were 4.5% below November 2005. The median existing-home price in the Northeast was $269,000, down 2.2% from a year earlier.
Existing-home sales in the West rose 0.8% to an annual pace of 1.32 million in November but were 17.5% lower than a year earlier. The median price in the West was $351,000, down 0.8% from November 2005.
Existing-home sales in the Midwest were unchanged in November, holding at a level of 1.42 million, and were 9.6% lower than November 2005. The median price in the Midwest was $165,000, which is 3.5% below a year ago.
Existing-home sales in the South fell 1.6% to an annual sales rate of 2.47 million in November, and were 10.2% below a year ago. The median price in the South was $179,000, down 3.2% from November 2005.
RISMEDIA, Jan. 2, 2007-Existing-home sales continued to recover last month following a rise in October, with the level of sales activity suggesting a turn in the market, according to the National Association of Realtors®.
Total existing-home sales - including single-family, townhomes, condominiums and co-ops - rose 0.6% to a seasonally adjusted annual rate of 6.28 million units in November from a level of 6.24 million in October, but were 10.7% below the 7.03 million-unit pace in November 2005.
David Lereah, NAR's chief economist, said modest gains are expected for home sales. "As the housing market recovers from its correction, existing-home sales should be rising gradually during 2007 - it looks like we may have reached the low point for the current cycle in September," he said. "We've entered a more sustainable period of home sales now, and we expect greater support for prices over time as inventory levels are eventually drawn down."Total housing inventory levels fell 1.0% at the end of November to 3.82 million existing homes available for sale, which represents a 7.3-month supply at the current sales pace.
The national median existing-home price for all housing types was $218,000 in November, which is 3.1% lower than November 2005 when the median price was $225,000. The median is a typical market price where half of the homes sold for more and half sold for less. "For every 1.0 percent drop in home prices, we project an additional 50,000 buyers are drawn into the market," Lereah said.
According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage was 6.24% in November, down from 6.36% in October; the rate was 6.33% in November 2005.
NAR President Pat Vredevoogd Combs, from Grand Rapids, Michigan, and vice president of Coldwell Banker-AJS-Schmidt, said the performance of long-term interest rates is a pleasant surprise. "Mortgage interest rates are the lowest they've been since January, and it's the first time since August of 2005 that interest rates are lower than a year earlier," said Combs. "This is increasing buying power at the same time that sellers are showing a willingness to negotiate price and terms. Combined with a plentiful supply of homes on the market, there's a window for buyers now with conditions that we haven't seen prior to the beginning of the housing boom in 2001."
Single-family home sales increased 0.2% to a seasonally adjusted annual rate of 5.52 million in November from a pace of 5.51 million in October, but were 10.2% lower than the 6.15 million-unit level in November 2005. The median existing single-family home price was $217,200 in November, which is 3.6% lower than a year ago.
Existing condominium and cooperative housing sales rose 3.1% to a seasonally adjusted annual rate of 757,000 units in November from a downwardly revised 734,000 in October, but were 13.6% below the 876,000-unit pace in November 2005. The median existing condo price was $224,600 in November, which is unchanged from a year ago.
Regionally, existing-home sales in the Northeast increased 6.0% to a level of 1.06 million in November, but were 4.5% below November 2005. The median existing-home price in the Northeast was $269,000, down 2.2% from a year earlier.
Existing-home sales in the West rose 0.8% to an annual pace of 1.32 million in November but were 17.5% lower than a year earlier. The median price in the West was $351,000, down 0.8% from November 2005.
Existing-home sales in the Midwest were unchanged in November, holding at a level of 1.42 million, and were 9.6% lower than November 2005. The median price in the Midwest was $165,000, which is 3.5% below a year ago.
Existing-home sales in the South fell 1.6% to an annual sales rate of 2.47 million in November, and were 10.2% below a year ago. The median price in the South was $179,000, down 3.2% from November 2005.
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