Our own Leo Gore on NBC, Channel 7. "Navy homecoming means big bucks"
Click image to watch video!
Save Money San Diego with Norman Bramstedt
click for audio Real Time Real Estate - March 13, 2010
Ocean Beach Clean-up Volunteers! Thank you!
2009 Community Service Day: Ocean Beach Cleanup Nov. 28, 2009
Save Money San Diego with Carey Guthrie & Laura Lothian
Trends in San Diego Real Estate - Sept 13, 2009 on AM 1360
Twitter, Technology & Real Estate
Follow this link to the California Association of Realators article with Jane Loveday:
http://www.car.org/newsstand/crem/past-issues/august2009/technology0809/
Everyday Heros Walk-a-thon: Windermere Pacific Coast on KUSI
San Diego Daily Transcript
San Diego median home prices increase for 5th straight month
By JEN LEBRON KUHNEY, The Daily Transcript
Friday, September 11, 2009
The median price of detached resale homes in San Diego County rose for the
fifth straight month in August, while sales dipped slightly.
A report from the San Diego Association of Realtors (SDAR) showed the median
price of a detached single-family home sold rose 0.8 percent from $372,000
to $375,000.
Attached homes, such as condominiums and townhomes, had their median price
rise nearly 8 percent from $210,000 in July to $226,000 in June.
Mulitple bids on lower-priced properties is driving up the median price,
said Alan Gin, University of San Diego economics professor.
The five-month trend may show that the market has hit bottom, or even shows
proof that the housing market has turned the corner, he said.
But it does not mean the local economy as a whole is out of the woods.
Gin said the positive news in the housing market is a good sign, but
questions about unemployment linger.
Should unemployment continue to rise and a new wave of foreclosures enters
the market at an inopportune time, Gin said the housing market could take a
turn for the worse.
However, he said it is not likely.
Last time the median prices of attached and detached homes were this high
were September 2008.
The total number of attached and detached homes was down 11.3 percent from
August to July with 2,622 sales.
However, the drop off is not something to "take much stock in," Gin said.
"I wouldn't consider (an 11.3 percent decline in sales) a big change given
that June and July were pretty big months in terms of housing," he said.
He said an activity drop in August is a normal, seasonal change.
Last month's sales were a 6 percent increase over August 2008.
Year-to-date, 2009 is out-pacing 2008 by almost 4,500 units sold, a 28
percent increase.
One thing that has been driving sales this year is the first-time homebuyer
tax credit offered by the federal government.
The tax credit is equal to 10 percent of the home's purchase price or $8,000
whichever is less. It expires on Dec. 1.
Erik Weichelt, president of SDAR, said Realtor associations, particularly in
California, are pushing Congress to extend and expand the tax credit.
Aside from extending the deadline to sometime in 2010, Realtors are hoping
to increase the limit of the credit to $15,000.
However, not much headway has been made lately as Congress has been focusing
on other issues like healthcare, Weichelt said.
Six-year Realtor Jane Loveday, of Windermere Pacific Coast Properties, said
she started noticing buyers heating up the market in March; she added
activity has been increasing steadily since.
Even more buyers have contacted her within the past few months, specifically
trying to obtain the tax credit.
"I do have a couple of buyers who are specifically wanting to close by
November 30 but whether they can find a property and get an accepted offer I
can't guarantee. That (the tax credit) is a huge stimulus to them."
One of the problems facing potential buyers is a lack of inventory at lower
price points.
Weichelt said there is less than a month and a half supply of inventory
priced below $250,000.
He said almost every property that comes onto the multiple listing service
in that price range has multiple offers on it within days.
