San Diego Real Estate Information Blog
Mark Stuart with Berkshire Hathaway HomeServices California Properties in La Jolla talks about the reality, not the perception, of dealing in real estate during the winter and holiday months. Percentage of sales vs. summer months, income properties, and other facts about dealing in real estate during the winter in San Diego.
Is your real estate investment property efficient? You might be surprised if you own a single family home or condo! Just because your income covers your mortgage, or because you own the property free and clear does not make it an efficient rental. By really understanding the numbers you can make yourself thousands more each year doing absolutely nothing.
How is the Real Estate Market in San Diego?
Well, following a stronger than expected 1st quarter, the real estate market continues to move higher, with two major components being the driving forces. Both supply and demand, coupled with ongoing low rates are keeping the market healthy. That being said, it is also becoming a hyper local situation with regards to average market times and buyer activity.
Supply and Demand:
Overall, the demand ratio (active vs, pending properties) continues to be strong for sellers. While this can be frustrating for buyers, they may take heart in knowing situations such as this drive prices upward, so getting in to the market should leave them with equity in short order. Supply is up over last year, but is still far below the peak sales and activity periods of 2005.
Rates remain near historic lows, but have risen steadily over the last 12 months. Conforming fixed rates are in the low to mid 4’s, while jumbo products are still in the low to mid 3's. This inversion of rates has been a major factor in driving the luxury markets to near all time highs, and coupled with with limited inventory slow but steady pricing pressure should continue throughout the summer.
Location, Location, Location:
Due to the slow rise in rates, affordability in traditional neighborhoods is beginning to price out some buyers, stabilizing price growth, while highly coveted communities such as Carmel Valley, La Jolla, and luxury coastal communities continue to see very strong activity.
Outlook for the rest of 2014:
As long as rates stay below 5.5% for conventional loans and 5% for jumbos, we should see modest price growth on a macro scale, while individual neighborhoods will see variable rates of return. The only way to determine what is going on in your neighborhood is by doing a demand study to show the most accurate and real time activity.
Markets can flip in a hurry, as we saw in 2012. Seemingly overnight things turned from a strong buyer's market to a historically strong seller's market. While no one has a crystal ball, making practical decisions are always prudent and perhaps now more than ever.
Give me a call any time to discuss your individual situation.
Lately with the San Diego real estate market normalizing again, I’ve been seeing a resurgence in self representation…or more accurately stated “attempted” self representation. I say this as the success rate for folks representing themselves in real estate transactions is far below those who use an agent.
First, let me remind you I did dozens of transactions using a number of different agents prior to becoming one myself with Berkshire Hathaway HomeServices. I know what I’m talking about from both sides of the coin.
Listen, it certainly isn’t rocket science to fill out a real estate contract. There certainly is an art and a skill to developing a marketing strategy for marketing a home or to get noticed in a multiple offer situation for buyers. In any case in real estate, you need to separate yourself from the crowd and make it known you’ll be easy to work with and perform every step of the way.
One thing is absolutely for sure. A listing agent ONLY has a contractual duty to their seller. If you are told you are getting a % off of the commissoion, that has zero to do with the actual market price of the property. Remember, list price is ONLY a marketing tool and never is a reflection of true market value!!!
When a seller does an “entry only” or For Sale By Owner type listing, they are potentially signaling to the market that they may be difficult to negotiate with, and that they don’t have the experience to follow the contracts as written to make a smooth transaction happen. Deals fall apart for many different reasons. This drives away buyers which invariably lowers the potential sales price of the property.
There is a reason I am affiliated with Berkshire Hathaway HomeServices…reputation. When we buyers and sellers walk in the door they know we will be tough but fair, educated, and capable of dealing with each twist and turn each transaction inevitably takes.
Find yourself a good one and stick with them. You’ll be better off for it.
Mark Stuart with Berkshire Hathaway HomeServices California Properties give you his forecast for the 2014 San Diego real estate market. Performance projections are merely an estimate based upon forseeable market data. While no one has a crystal ball, 2014 should provide for moderate growth typical of a balanced market between buyers and sellers.
Mark Stuart with Berkshire Hathaway HomeServices California Properties is happy to present his La Jolla 92037 real estate market trends report for November 2013. Included is information on home pricing, activity trends, as well as information for real estate buyers and sellers. For more information on homes for sale in your La Jolla neighborhood, visit: http://www.freesandiegosearch.com/san-diego-coastal/la-jolla/
Best San Diego Mobile Real Estate Search App
We've officially launched what is easily the best mobile real estate search app available for La Jolla, Pacific Beach, Mission Beach, or homes for sale anywhere in San Diego. Free and easy to use on iphone, android, ipad or tablet. It is 100% accurate 100% of the time and, just like http://www.freesandiegosearch.com, it is powered by data complied directly from Sandicor, the local realtor's MLS system.
The free (no registration required!) app offers a very cool home scan feature which allows users to simply point the phone in the direction they are interested in searching and available properties instantly appear to review! Free to use, or register to save searches, favorite properties, or have new properties emailed to you directly. Search open houses, new to market, price reductions, and more.
Simply visit http://www.freesandiegosearch.com/mobile-real-estate-search-app/ to download, or learn more at our YouTube video below.
Mark Stuart, with what on September 23rd will become Berkshire Hathaway HomeServices, talks about the change and how he and Karla fit in with the new company as one of the leading agents nationwide.
Prudential California Realty is changing to Berkshire Hathaway HomeServices and Mark and Karla Stuart will continue their leadership as one of the top producing realtor teams in the nation, and serving La Jolla, Pacific Beach, and most San Diego communities.
Check out what is happening in your neighborhood at http://www.freesandiegosearch.com