U.S. home sales unexpectedly fell in January, leading to the biggest year-on-year decline in more than three years, as a persistent shortage of houses pushed up prices and kept first-time buyers out of the market.Uphill Battle for First Time Buyers The drive home is an uphill battle these days, especially for first-time homeowners who are … [Read more...]
Hammers and Nails
Buyer traffic is likely increasing so much because of the severe shortage of existing homes for sale. Realtors are reporting the lowest supply on record and are not expecting the situation to improve anytime soon. While housing starts did rise steadily throughout 2017, they did so very moderately and are still not close to historically normal … [Read more...]
San Diego Home Lender Testimonials
Stephanie Nisan - RealtorMaureen and I were actually introduced through a mutual friend over our love of dog rescue. I run a non-profit call The Animal Pad and an all breed animal dog rescue and Maureen became our volunteer director. Professionally, I am not a big fan of lenders and I decided, okay, I’ll give Maureen a shot and took one … [Read more...]
California Housing Market: Going Forward
With California dominating the country’s 20 hottest real estate markets, an increase in home prices and a flash of buyer activity during May has lead to more than the usual seasonal momentum. San Diego county has seen its fair share of activity, with an ample supply of homes available for interested buyers.As summer unfolds, the market finds … [Read more...]
Return of the First-Time Home Buyers in San Diego
The National Association of Realtors® (NAR) announced that during the month of May sales of existing homes were at their highest rate in six years. This was on the heels of outstanding residential construction reports.Pushing 5.1 percent higher in April sales of single-family homes, condos and townhomes slide in at a seasonally adjusted annual … [Read more...]
The True Cost of Renting a House
Renting is becoming increasingly more expensive in San DiegoAccording to a report recently released by Zillow, rents in April of 2015 were 4% higher than the year before. It’s the fastest increase we’ve seen in 24 months, overrunning home prices which only rose by 3%.The affordability of rent is becoming increasingly more expensive. As of right … [Read more...]
Home Sales Increasing in San Diego as Rates Stay Low
The Housing Market Is Breaking RecordsIn the most recent report from the National Association of Home Builders, existing home sales skyrocketed in April to their highest annual levels since October 2013. This surge has been fuelled by pent up demand, as well as sustained job growth and a long stretch of low mortgage interest rates.The growth in … [Read more...]
Home Sales Are Rebounding in San Diego
Interest Rates Are Low With 30-year fixed interest rates averaging the lowest we've seen in months, many homeowners are wondering if now is the time to refinance. And while personal situations may dictate whether refinancing at these low rates is a good decision, there are some other factor to examine as well. And that’s only existing single family … [Read more...]
Why Mortgage Preapproval Is A Must
Before you start looking for a new home or attending open houses, it is important to go through the preapproval process. When it comes to buying a home, shopping around without a preapproval letter is the same as going to the mall without bringing your purse or wallet, useless.Buying a new home is exciting, and many buyers often become eager and … [Read more...]
All-Cash Home Sales Fall To Six-Year Low
This summer, our country saw a decline in the purchase of homes through all cash home sales. In June 2014, all cash sales only made up a total of 33 percent of home sales in the country. This was the lowest we have seen since September 2008, which is what most people consider the unofficial start of the financial crisis. 33 percent is 3.3 percent … [Read more...]