|
Welcome to North San Diego County Coastal’s most comprehensive Real Estate resource. Check out: "Real Estate Tides"&"What is Going On In The Market?"
|
Buyers Want Your Home for as Little as Possible.
Are you thinking of selling your home? You should know exactly what it's worth before making such an important decision.
Find Out More >
View All Offers >
|
Responsive, Reliability & Down to Earth person
Situation that stands out most is "Good Discussion about Comparable Sales"
Steve & Karen T/Don & Kathy K
Read Quote >
View All Quotes >
|
 Compare three mortgages at one time.
Download TripleCalc now. It's free. |
Christie Kramer & Associates
are some of The Top Selling Real Estate Experts™
Find Out More > |
|
|
 |
|
|
In North County San Diego, the median price for all home sales – attached and detached – decreased 2.8% in June from May to $418,000. Detached homes in North County decreased 4.85%, from May to June, from $515,000 to $490,000.Detached home prices OUTSIDE North County decreased 3.75% from May to June from $400,000 to $385,000.
June median single-family detached homes in North San Diego County fell 26.5%, from $667,000 in June 2007. The median price OUTSIDE North County for single-family homes fell 28.3% from the $537,250 a year ago last month. The countywide median price of homes sold decreased from $435,000 in May 2008 to $418,000 in June 2008 and was down 30% from the June 2007 number.
|
|
|
|
Attached home prices in North County decreased during June by 11.3%, from
$300,000 a month earlier to $266,000. Non-North County attached home prices decreased 10.7% in June; from $280,000 to $250,000. North County attached homes decreased 33.3% from $399,000 a year ago last month.
Median days-on-market for single-family detached homes in North County remained at 50 days between May and June. The number of North County single-family homes sold increased 1.5% last month, from 729 to 740. There was a year-to-year decrease of 7.62% from the 801 homes sold in June 2007.
|
|
 |
|
The residential real estate market has swung from the seller’s market of three years ago when home prices were increasing as much as 20 to 30 percent per year to the buyer’s market today where prices have decreased and there’s an abundant inventory of homes from which to choose. That’s good news for those looking to buy a home. Interest rates continue to at record lows, at least for the short-term future. An abundant selection of homes on the market together with low interest rates combines to make the present an excellent time to buy a home.
Home prices will not begin to stabilize until the number of Bank Owned Properties (also known as (REOs) begins to decline.
|
 |
|
The current condition of the housing market needs to be kept in perspective. House values rose 88 percent on a national average – higher in California – over the past decade. The number of U.S. households is expected to increase 15 percent over the next decade, creating a continued high demand for housing.
Even with the lower appreciation levels in home prices, there will be a strong investment incentive over the long term to buy homes in North San Diego County.
The economic stimulus package passed recently by Congress and signed by President Bush now offers safer and more affordable opportunities for people to buy homes. The temporary increases in federally insured and conventional loan limits could stimulate 250,000 home sales nationwide and, buy allowing owners of distressed properties to refinance, could rescue as many as 210,000 home from foreclosure nationwide.
|  When will the Market Hit Bottom? Part II
Added February 28, 2008
There have been several opinions on when the market will hit bottom. One method of analysis that is consistent with the experts’ prediction is to look at the historical sales data and forecast the trend by ignoring the effects of the market frenzy that took place after 2001. Graph I illustrates the trend in the median sale price for San Diego County. A close look at price increase before the downturn in the 1990s is similar to the increase prior to 2001.
|
|
|
Graph II isolates the steep increase of 2001 to 2005. By continuing the normal price increase shown by the trend line exemplified in yellow and the price decrease shown by the trend line exemplified in red, the end of the decline is somewhere in early 2009. |
|
|
Government intervention or economic recession would effect the slope of the trend but does it make sense that even substantial intersession would change the direction of the market in less than 18 months? |
If you request information:
We will never rent, share, sell your information, period.
Financing Your Home >Financing Contingencies
Standard real estate purchase agreements usually contain language that releases the purchaser from an agreement if they are unable to get financing within a specified period of time. This contingency includes a full return of the earnest money deposit. If you are buying a home, you should read the financing clause carefully and be sure that you fully understand the terms of the agreement.
You are usually required to apply for your loan promptly and to comply with requests from the lender for any documentation needed to complete the loan application. The contract will also set a time limit by which you must have loan approval. If your lender cannot meet the financing deadline and needs additional time to complete the loan, you must ask the sellers for a written extension.
|
| Q |
What house is considered to be the first house with running water in America?
|
| A |
John Headly's home built in Newport, RI in 1723, was equipped with an underground pipe from the nearby spring.
|
 See More Real Estate Trivia > |
|
|
|
- NUMBER1EXPERTS™ 
