Even though the number of homes on the market has been restrained by coronavirus, demand for housing remains high. While some homebuyers may be able to delay purchasing, others are on a tight schedule and have no choice but to move forward. Plus, they may want to lock in today's low mortgage rates. If that describes you, you may be wondering … [Read more...]
Home Values Could Hit a Record High This Year
While COVID-19 has suppressed quite a bit of economic activity across the board, there are indications that the housing market remains healthy. In fact, some analysts are predicting that home values could climb during 2020. Even with coronavirus to deal with, the reality is that many homebuyers still need to move forward with their purchases and … [Read more...]
Will We Be Able to Avoid an Unfolding Mortgage Crisis?
Right now, unemployment is on track to compete with what this country saw in the Great Depression as a result of COVID-19. Millions of Americans can’t keep up with their bills, including their mortgages. By passing the CARES Act, Congress has provided a buffer for individuals and families—but also potentially hastened a developing crisis in the … [Read more...]
SDSU to Move Forward With Satellite Campus Project in Mission Valley
You might be aware that San Diego State University (SDSU) has been trying to purchase the stadium site at Mission Valley as the proposed location for a new satellite campus. Now, the California State University Board of Trustees has given SDSU the green light. This follows the Measure G vote back in November 2018, which also supported the … [Read more...]
2020 San Diego Housing Market Looks Healthier Than Real Estate Markets Elsewhere in CA
Have you seen the latest study from Zillow? The site writes, “A panel of more than 100 U.S. economists and real estate experts was asked to rate their 2020 expectations for home value growth compared to the nation in 25 large markets nationwide.” Going by the results, it looks like San Diego’s housing market is expected to fare better than those of … [Read more...]
Conventional Loan Limits in San Diego Raised for 2020
If you are hoping to qualify for a conventional loan to purchase a home in San Diego or elsewhere in SoCal, I have some exciting news for you for the New Year. The conventional loan limits for 2020 are going up! The Federal Housing Finance Agency (FHFA) made the announcement on November 26th. Let’s look at the new loan limits throughout the … [Read more...]
Income Up? Now Is a Great Time to Purchase or Refinance in San Diego
Have you been earning more in recent times than you did in the past? If so, your good fortune reflects a regional trend as described by the US Department of Commerce’s Bureau of Economic Analysis (BEA). According to the data, between 2017 and 2019, there was a 5.7% increase in income per capita in the San Diego metro area. This can be compared with … [Read more...]
With Home Prices at a Low Year-Over-Year, Now is the Time to Harvest the Fruits of San Diego’s Real Estate Market
Heading into fall, we have great news for San Diego homebuyers. According to data from CoreLogic, the median price for homes in San Diego County has dropped. This is something which hasn’t happened in 7 years. Last year at this time, the median cost of a San Diego home was $584,500. This year, it is $584,000. Even though that drop is small, we … [Read more...]
Negative Equity Has Fallen Dramatically Since the Recession
Most of us have stories from the recession days. You probably knew homeowners who were “underwater”—who owed more on their homes than they were worth. You might even have been in that position yourself. If so, you may have wondered how common it is for homeowners to find themselves underwater in today’s world. Have things improved since the … [Read more...]
Been Thinking of a Refinance? Take Advantage of Today’s Low Rates
Did you know that mortgage rates have been low for the past six months? You may recall last month’s post when I shared data that those low rates held steady through July. Now, I have really fantastic news for August—and that is that rates have dropped even further, making this the perfect time to get a refinance. The World Property Journal has … [Read more...]
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