Thursday, November 20, 2014

Statistics

North San Diego County Real Estate Housing Statistics | October 2014

The median price for all North County home sales – attached and detached – decreased to $508,250 in October 2014 compared to September 2014.

Detached homes in North County decreased by 5.83 percent in October 2014 to $565,000 compared to $600,000 in September 2014.
The HomeDex affordability percentage for all homes in North San Diego County – attached and detached remained at 32 percent in October 2014.
The number of North San Diego County SFD listings (active and contingent) decreased 5.25 percent in October 2014 compared to September 2014.
Median days-on-market for single-family detached homes sold in North County increased to 34 days in October 2014 compared to 27 days in September 2014.
According to the California Association of REALTORS®, the Unsold Inventory Index for existing, single-family detached homes in San Diego County was 4.3 months in October 2014, down from 4.4 months in September 2014, and up from 3.7 months reported in October 2013. The index indicates the number of months needed to deplete the supply of homes on the market at current sales rate.

Wednesday, October 22, 2014

California Real Estate Market Stuck in Low Gear

September Sales Limited by High Prices and 

Relatively Tough Lending Standards 


     September 2014 California single-family home and condominium sales fell 5.6 percent to 32,017 units from 33,931 in August. In the past 12 months, sales are down 4.4 percent from 33,484 sales in September 2013. September 2014 sales were the lowest September sales since 2007. On a regional basis, over the past 12 months sales are down 3.7 percent in the Bay Area, 4.9 percent in Southern California, and 8.3 percent in the Central Valley.
     “The California real estate market is stuck in low gear,” said Madeline Schnapp, Director of Economic Research for PropertyRadar. “High prices and relatively tough lending standards have pushed many would be homeowners to the sidelines.”
     The steady decline of lower priced distressed properties available for sale has been a key factor depressing sales. Whereas in September 2013 23.0 percent of sales were distressed properties, in September 2014 distressed property sales comprised only 16.6 percent of the total. In September 2011, 55.2 percent of sales were distressed property sales.
     The median price of a California home in September was 385,000 dollars, down 1.3 percent from 390,000 dollars in August. Median prices have been flat 390,000 dollars since June 2014. On a year-ago basis, median home prices gained 8.5 percent, the slowest monthly gain since June 2012. Month-over-month price variations are impacted heavily by the sales of non-distressed properties, which in September comprised 83.5 percent of total sales. A better measure of median price movement occurs when sales are divided into distressed property sales and non-distressed property sales. The median price of non-distressed homes fell 1.4 percent for the month but increased 5.3 percent over the past 12 months. Meanwhile the median price of distressed homes was unchanged for the month is up 7.8 percent from a year ago. On a county level, median price increases have slowed or peaked in many of California’s largest counties. In September 13 of California’s 26 largest counties experienced monthly price declines compared to only six in March.
     “From mid-2012 through June of this year, median prices in most of California’s largest counties were experiencing double digit year-over-year increases,” said Schnapp. “Since then, median prices increases have slowed or reversed in response to a fall-off in demand.”
     In other California housing news:
     • Improvement in negative equity has stalled due to a slowdown in price appreciation. In September, negative equity positions were nearly unchanged from August. Slightly more than 1.0 million California homeowners, or 11.6 percent remain underwater. Historically elevated levels of negative equity will continue to exert a drag on the California real estate market.
     • Cash sales totaled 7,252 in September and were 22.4 percent of total sales. Cash sales have been steadily declining since reaching a peak of 40.0 percent of total sales, or 14,028, in August 2011. Since then, cash sales have fallen 48.3 percent.
     • Flip sales fell 10.3 percent for the month and are down 34.2 percent for the year. Flip sales are defined as properties that have been resold within six months. Flip sales comprised 3.5 percent of total sales in September, down from 3.7 percent of in August. Flip sales peaked in October 2012 at 5.1 percent of total sales and have declined 43.8 percent since then.
     • Institutional Investor LLC and LP purchases fell 16.8 percent for the month and are down 19.8 percent from August 2013. As the supply of distressed properties dwindle and prices rise, institutional investor demand has retreated due to the lower return on investment. In general, Institutional Purchases have posted consistent monthly declines since peaking in December 2012 and are down 51.9 percent since then. Trustee sale purchases by LLC and LPs are down nearly 90.0 percent from their October 2012 peak.
     • Foreclosure starts, Notices of Default (NODs), fell 3.5 percent between August and September and are down 12.0 percent from September 2013. The downward trend extends a longer-term downward trend that began in March 2009. Foreclosure sales increased 11.2 percent for the month and are down 12.8 percent for the year.
Home Sales 
CASeptemberSales
Home Sales – Single-family residence and condominium sales by month from 2007 to current divided into distressed and non-distressed sales. Distressed sales are the sum of short sales, where the home is sold for less than the amount owed, and REO sales, where banks resell homes that they took ownership of after foreclosure.  All other sales are considered non-distressed.
Year-over-Year Home Sales
SeptemberY-o-YSales
Year-over-Year Home Sales – Single-family residences and condominiums sold during the same month for the current year and prior years divided into distressed and non-distressed sales.
Median Sales Prices vs. Sales Volume 
SeptemberMedian

Median Sales Price vs. Sales Volume – Median sales price (left axis) of a California single family home versus sales volume (right axis), by month from 2005 to current.  Median sales prices are divided into three categories: All single-family homes (blue line), distressed properties (red line), and non-distressed properties (green line). Monthly sales volume (right axis) are illustrated as gray and lavender bars.  The gray bars are distressed sales and the lavender bars are non-distressed sales.
California Homeowner Equity 
NegEquity
California Home Owner Equity – A model estimate of California homeowners segregated into various categories of levels of homeowner equity for a given month.  Homeowner numbers represent a percentage of total California homeowners. 
Cash Sales 
SeptemberCash 
Cash Sales – The blue bars (right axis) illustrate cash sales of single-family residences and condominiums by month. The red line (left axis) illustrates cash sales as a percentage of total sales by month.
Flipping 
SeptFlipping
Flipping – The number of single-family residences and condominiums resold within six months.
Market Purchases by LLCs and LPs 
 SeptGranteePurchases
Market Purchases by LLCs and LPs – The blue bars (right axis) illustrate market purchases of single family residences and condominiums by LLCs and LPs from 2007 to current. The red line graph (left axis) illustrates LLC and LP purchases as a percentage of total sales by month.
Market Sales by LLCs and LPs 
SeptGrantorSales
Market Sales by LLCs and LPs – The blue bars (right axis) illustrate market sales by LLCs and LPs of single-family residences and condominiums by month. The red line graph (left axis) illustrates sales as a percentage of total sales by month.
Trustee Sale Purchases by LLCs and LPs  
SeptTrusteeSales
Trustee Sale Purchases by LLCs and LPs – The blue bars (right axis) illustrate trustee sale purchases (foreclosure sales) of single-family residences and condominiums by LLCs and LPs from 2007 to current. The red line graph (left axis) illustrates purchases as a percentage of total trustee sales by month.
Foreclosure Notices and Sales 
SeptForeclosureActivity 
Foreclosure Notices and Sales – Properties that have received foreclosure notices — Notice of Default (green) or Notice of Trustee Sale (blue) — or have been sold at a foreclosure auction (red) by month.
Foreclosure Inventories
SeptForeclosureInventory 
Foreclosure Inventory – Preforeclosure inventory estimates the number of properties that have had a Notice of Default filed against them but have not been Scheduled for Sale, by month. Scheduled for Sale inventory represents properties that have had a Notice of Trustee Sale filed but have not yet been sold or had the sale cancelled, by month. Bank-Owned (REO) inventory means properties sold Back to the Bank at the trustee sale and the bank has not resold to another party, by month.
By by Madeline Schnapp
Real Property Report Methodology
California real estate data presented by PropertyRadar, including analysis, charts and graphs, is based upon public county records and daily trustee sale (foreclosure auction) results. Items are reported as of the date the event occurred or was recorded with the California county. If a county has not reported complete data by the publication date, we may estimate the missing data, though only if the missing data is believed to be 10 percent or less of all reported data.

Saturday, September 6, 2014

JUST LISTED

Murrieta Hot Springs - Rancho Bella Vista




Listed at $305,000 - $325,000

3 plus bedroom, 3 bath , 2005 sq.ft.


Wow! This beautiful 2 story end of the cul de sac home is nestled in the quiet neighborhood of Rancho Bella Vista. Home features 4 bed/3 bath, 3 bedrooms plus a loft upstairs along w/ laundry room and convenient den downstairs. Open floor plan is perfect for entertaining. Beautiful kitchen w/large eat at counter. Plenty of cabinetry for storage w separate pantry. Formal living room with a gas fireplace and TV nook. Lots of windows bring in the natural light to the family room. Sliding glass doors lead to large concrete patio, separate garden area and dog run. Master Bedroom has a spacious double door entry and walk in closet. The master bath features dual sinks, separate shower and tub. Walking distance to local California Distinguished and National Model elementary school.


Contact Cecilia Godoy 760.822.2757 - Berkshire Hathaway HS

Tuesday, June 3, 2014

"PRICES ARE UP 19% FROM LAST YEAR" - SHOULD I CONSIDERING SELLING?


Maybe you're wondering if now is the time to put your home on the market and buy something new. Home prices in San Diego County reached a post-Great Recession high in March. The S&P/Case-Shiller Index showed Tuesday that prices rose 1.3 percent from February to March. In the previous Case-Shiller report, San Diego County led the nation’s appreciation at 1 percent.


Here are 9 things you need to ask yourself before selling your home

1) Can I afford to sell?
If you're interested in buying another home after you sell, consult with a mortgage specialist to make sure that you will be able to qualify for your next home, especially if you're eyeing a property that is more expensive.
2) Am I prepared to handle the stress?
People don't realize how stressful selling a home can be. For instance, some sellers may be offended if they receive a low offer or if the buyer sends them a list of repair requests after the home inspection is complete. The buyer may not appreciate your home as much as you do. Don't take it personally.
3) Do I understand my competition?
Your agent can prepare a market analysis of recent sales in your area to help you understand how your home compares to the competition. In the lingo of the industry, these are called "comps."
4) Can I improve this house?
Buyers today demand a very clean and updated home. Consider replacing outdated brass fixtures and adding new lighting fixtures to give your home an updated feel at a reasonable cost. 
  • Focus on top renovation selling points, which include:
  • Updated kitchen
  • Curb appeal and landscaping
  • Fresh exterior/interior paint

5) How can I get more money for my house?
Your home should be staged and show ready, all the time. Remove personal items and consider temporary storage if your home has too much clutter.
6) Am I realistic about how much my house is worth?
If you really want to know your home's value, get an appraisal before you put your house on the market and price it accordingly.
7) Should I offer an incentive?
You may want to consider paying some of the closing costs. Many buyers have money for the down payment, but they've forgotten about the other costs involved. Other incentives to ask your agent about include a painting allowance and a home warranty.
8) Why did I buy this home?
Think back to when you bought your home. What was it about this home that caught your eye? If it was important to you then, it will likely be important to your buyer!
9) When should I list?
Spring and fall are the best times to list a property, but a well-presented home will sell at any time of the year.
By Michael Timmermann

Wednesday, May 28, 2014

Is a Surveillance Camera Right for You?




Many people turn to surveillance cameras as a way to make their home and office more secure. There are so many different types of security measures on offer however that is can be hard to know whether this is the right type of equipment for your needs. This article explores the different security measures and tools available and what the advantages and disadvantages of each of them are. 

CCTV cameras can be attached to the outside of the building, can be placed over the door step, can be placed inside or can be entirely hidden from view. There are even dummy cameras available that provide a good deterrent aspect but don't actually incur any additional cost of filming. All cameras that can be seen work well as a deterrent. A burglar is far less likely to break into a home when there is the chance they will shown doing so on video surveillance footage. CCTV cameras don't necessarily sound an alarm however if security is breached in some way. In this respect they may be able to film a crime being committed but they won't necessarily be able to put a stop to it. Having the footage available however does mean there is more chance of getting your things back if they have been stolen. 

Burglar alarms are another way that people add security to their homes. These have a large number of problems however. First of all burglaries are usually very quick and the perpetrator can be long gone by the time the police or a security firm have arrived on the scene. Secondly the alarm can in some cases be stopped by simply locating the control panel and breaking it. Cats and other animals can also sometimes trip the alarm when they jump through an open window which can cause problems for everyone. 

The ideal solution is to have both surveillance monitoring of some kind as well as a motion sensor, this way you get the best of all worlds. If this stretches the budget too far however then it is better to simply go with some kind of camera equipment. This provides the best value for money in terms of security. In the past it was just the wealthiest members of society who were able to afford security equipment such as cameras, but these days the prices have come right down and now everyone can benefit. Nanny cameras and hidden indoor cameras are another very popular type of security surveillance. Camouflaged cameras can allow you to see things that you would otherwise not be privy to. Parents like to be able to check their nannies are caring for their children well, employers like to be able to check everything is just as it should be in the workplace. 

Another scenario in which hidden cameras are ideal is for the use of gathering evidence. If you are being targeted or victimized, having hard evidence to show the police can mean something can be done. Without the proof however the police may be hesitant to take any real action. There is no doubt that cameras are a valuable and versatile security tool. Surveillance can assist in a number of different ways to keep everyone safe and free from harm. If you are unsure of what type you need the first step is to define what exactly you want the security camera for and then decide how much you are willing to spend. 

When you search online you will find a host of companies offering surveillance camera equipment and monitoring devices. Make sure you buy from a reputable company with a good website. There is more choice online than in high street shops so it is best to buy your equipment here. From a wildlife camera to tracking devices, go online to find out what is available and get the best prices.

by Kathryn Dawson

Thursday, May 8, 2014

Owning a Home is a Smart Financial Investment

32% of people looking to buy a home in the next two years



Americans are becoming more optimistic about buying a home, with 67% of people saying they plan on purchasing a home, and of that amount, 32% are looking to buy within the next two years.
The PulteGroup (PHM) Home Index surveyed 1,004 adults on their sentiment about the U.S. economy and how current housing conditions are impacting future homebuyers.   
According to the survey results, 74% of adults feel the economy has remained steady or improved in the last year.
As a result, 57% of adults think now is a good or excellent time to purchase items they want or need, especially when it comes to entering the housing market.  
Millennials and move-up buyers are the most engaged consumer segments, with 85% and 71%, respectively, intending to purchase a home in the future. 
“For the first time in years, Americans have a growing sense of optimism that the housing market is improving, and that these positive changes may be sustainable,” said Margaret Gramann, senior vice president of sales for PulteGroup. 
“This favorable outlook is giving them the confidence to pursue more meaningful, big-picture life opportunities they may have otherwise put on hold,” Gramann added.
There are two main drivers to purchasing a home: the need for more space and the view that owning a home is a smart financial investment.
Currently 70% of home shoppers plan to spend as much or more money on their next home, along with 64% of people saying they prefer to spend on a home that’s move-in ready rather than spend less and renovate.
“Whether it’s a first-time or move-up buyer, or an active adult, purchasing a home is a major life decision and Americans are recognizing the importance of maximizing what they view as a long-term investment,” said Gramann.  “They’re aiming to create value in a home that meets their specific wants and needs from day one, and if that means spending more money, they’re willing to do so because of confidence in the market.” 
And as consumer demand for housing increases, so does the demand for more credit.
For borrowers who already have a home, the demand for home equity lines of credit is increasing.
Experian found a 41% increase in originations year over year, with 70% of HELOCs coming from super prime consumers. See the inforgraphic for more detail (click image for bigger picture). 
infographic

Thursday, March 27, 2014

Time for boomers to sell and move on? The state of real estate

The state of real estate

The housing market appears to be on a steady recovery track since its crash in late 2006, and "homes prices are 5 percent off of the historical normal," according to Sean Aggarwal, chief financial officer of residential real estate website Trulia.
In 2013 the housing market was up big—11.3 percent—according to theCase-Shiller Home Price Indices, making it the best year since 2005. Las Vegas, Los Angeles and San Francisco had the largest boosts last year, up more than 20 percent. Though this year, projections are not expect to shoot through the roof like last year. The research firm Clear Capital, which serves the mortgage and lending industry, projects that in 2014 home prices will rise between 3 and 5 percent.
This spring's selling season looks to be an attractive one, according to Wells Fargo chief financial officer Tim Sloan, who recently said on CNBC's "Squawk Box" that home affordability continues to be "very attractive."
Given last years stellar rise and this years projected growth, which is more in line with historical norms, near-retirees might be considering exiting the market in the near future in case home prices reverse course. It's the age old dilemma of getting out now or staying in the game, as homes come with a level of risk, just like any other asset.
One reason home sales might not continue to climb as they did last year is rising interest rates—the main driver for this being the Fed's likely move to continue tapering.
Despite prices still being up year–over–year, this week's Standard & Poor's/Case-Shiller 20-city home price index showed a dip in January—the third month in a row. This was mainly due to a perfect storm of a brutal winter, low inventory and rising interest rates. Despite the fact that the index dropped just .01 percent for the last 3 months, Yale economics professor and co–founder of the index Robert Shiller did say on this week's "Squawk on the Street" that the market is "gradually slowing...according to the data we have".
Also, this week's U.S. Department of Commerce report showed that new home sales in February were down both 3.3 percent from January and 1.1 percent from a year ago .
Robert Shiller: Housing could weaken more
Robert Shiller, Case-Shiller Index co-founder and Yale University professor of economics, breaks down today's key housing data and explains how investors can dictate housing momentum.