Here is the monthly real estate report for El Cajon. I have included the numbers for all 3 zip codes. This report is for single family homes only. If you would like the numbers for condos, just let me know. If you would like to see another area or some great graphs of the market trends visit My Website
92019
There are currently 80 Active listings in El Cajon 92019. Ranging from $317,000 for 2 bedroom, 2 bathroom, 1131 square feet to $1,495,000 for 6 bedrooms, 6 bathroom, 4287 square feet.
45 properties are pending (currently in escrow).
31 properties SOLD (closed escrow) in February. Ranging from $228,000 for 3 bedrooms, 1 bathrooms, 1036 square feet to $1,155,000 for 4 bedrooms, 4 bathrooms, 3540 square feet. The average market time for the homes that sold was 45 days.
92020
There are currently 55 Active listings in El Cajon 92020. Ranging from $215,000 for 3 bedroom, 2 bathroom, 1357 square feet to $1,250,000 for 6 bedrooms, 5 bathroom, 5368 square feet.
39 properties are pending (currently in escrow).
22 properties SOLD (closed escrow) in February. Ranging from $190,050 for 2 bedrooms, 1 bathrooms, 964 square feet to $705,000 for 4 bedrooms, 3 bathrooms, 2893 square feet. The average market time for the homes that sold was 57 days.
92021
There are currently 54 Active listings in El Cajon 92021. Ranging from $267,000 for 3 bedroom, 1 bathroom, 1223 square feet to $979,000 for 4 bedrooms, 4 bathroom, 3424 square feet.
32 properties are pending (currently in escrow).
16 properties SOLD (closed escrow) in February. Ranging from $222,500 for 3 bedrooms, 2 bathrooms, 1238 square feet to $835,000 for 5 bedrooms, 3 bathrooms, 3455 square feet. The average market time for the homes that sold was 49 days.
Showing posts with label El Cajon Homes For Sale. Show all posts
Showing posts with label El Cajon Homes For Sale. Show all posts
Tuesday, March 4, 2014
Monday, February 3, 2014
El Cajon Monthly Real Estate Report - January 2014
Here is the monthly real estate report for El Cajon. I have included the numbers for single family homes in all three of the El Cajon zip codes. Please visit my website to see other areas and to view graphs that show the El Cajon Real Estate Market Trends.
92019
There are currently 86 Active listing in El Cajon (92019). They range from $324,000 for 3 bedrooms, 2 bathrooms, 1134 square feet to $1,495,000 for 6 bedrooms, 6 bathrooms, 4287 square feet.
45 properties are pending (currently in escrow).
20 properties sold (closed escrow) in January. Ranging from $200,000 for 3 bedrooms, 1 bathroom, 1064 square feet to $1,100,000 for 5 bedrooms, 4 bathrooms, 4201 square feet. The average time on the market was 52 days.
92020
There are currently 61 Active listings in zip code 92020. They range from $274,900 for 3 bedrooms, 2 bathrooms, 1082 square feet to $1,250,000 for 6 bedrooms, 5 bathrooms, 5368 square feet.
27 properties are pending (currently in escrow).
17 properties sold (closed escrow) in January. Ranging from $230,500 for 2 bedroom, 1 bathroom, 895 square feet to $1,229,000 for 4 bedrooms, 5 bathrooms, 4568 square feet. The average time on the market was 55 days.
92021
There are currently 61 Active listings in zip code 92021. They range from $219,000 for 3 bedrooms, 2 bathrooms, 1222 square feet to $979,000 for 4 bedrooms, 4 bathrooms, 3424 square feet.
30 properties are pending (currently in escrow).
22 properties sold (closed escrow) in January. Ranging from $270,000 for 3 bedroom, 2 bathroom, 1377 square feet to $475,000 for 5 bedrooms, 4 bathrooms, 3259 square feet. The average time on the market was 50 days.
92019
There are currently 86 Active listing in El Cajon (92019). They range from $324,000 for 3 bedrooms, 2 bathrooms, 1134 square feet to $1,495,000 for 6 bedrooms, 6 bathrooms, 4287 square feet.
45 properties are pending (currently in escrow).
20 properties sold (closed escrow) in January. Ranging from $200,000 for 3 bedrooms, 1 bathroom, 1064 square feet to $1,100,000 for 5 bedrooms, 4 bathrooms, 4201 square feet. The average time on the market was 52 days.
92020
There are currently 61 Active listings in zip code 92020. They range from $274,900 for 3 bedrooms, 2 bathrooms, 1082 square feet to $1,250,000 for 6 bedrooms, 5 bathrooms, 5368 square feet.
27 properties are pending (currently in escrow).
17 properties sold (closed escrow) in January. Ranging from $230,500 for 2 bedroom, 1 bathroom, 895 square feet to $1,229,000 for 4 bedrooms, 5 bathrooms, 4568 square feet. The average time on the market was 55 days.
92021
There are currently 61 Active listings in zip code 92021. They range from $219,000 for 3 bedrooms, 2 bathrooms, 1222 square feet to $979,000 for 4 bedrooms, 4 bathrooms, 3424 square feet.
30 properties are pending (currently in escrow).
22 properties sold (closed escrow) in January. Ranging from $270,000 for 3 bedroom, 2 bathroom, 1377 square feet to $475,000 for 5 bedrooms, 4 bathrooms, 3259 square feet. The average time on the market was 50 days.
Monday, June 3, 2013
El Cajon Real Estate Market Report - May 2013
Here are the real estate statistics for May. I have included the numbers for single family homes in El Cajon. They are divided by the three El Cajon zip codes. If you would like statistics for another area, please feel free to let me know.
92019
There are currently 46 active real estate listings in El Cajon (92019), ranging from $265,000 for 3 bedrooms,2 bathroom, 1266 square feet to 1,999,999 for 4 bedrooms, 6 bathrooms, 5890 square feet.
53 properties are pending (currently in escrow).
34 properties sold (closed escrow) ranging from $276,000 for 4 bedrooms, 3 bathrooms, 1900 square feet to $690,000 for 4 bedrooms, 3 bathrooms, 3124 square feet. The average time on the market was 51 days.
92020
There are currently 46 active real estate listings in El Cajon (92020), ranging from $299,000 for 2 bedrooms,1 bathroom, 800 square feet to 1,595,876 for 6 bedrooms, 5 bathrooms, 5368 square feet.
49 properties are pending (currently in escrow).
36 properties sold (closed escrow) ranging from $190,000 for 3 bedrooms, 1 bathrooms, 1064 square feet to $754,900 for 4 bedrooms, 2 bathrooms, 2439 square feet. The average time on the market was 36 days.
92021
There are currently 34 active real estate listings in El Cajon (92021), ranging from $279,900 for 2 bedrooms,1 bathroom, 1008 square feet to 2,600,000 for 5 bedrooms, 7 bathrooms, 8331 square feet.
51 properties are pending (currently in escrow).
56 properties sold (closed escrow) ranging from $375,000 for 2 bedrooms, 1 bathrooms, 1000 square feet to $840,000 for 4 bedrooms, 4 bathrooms, 4565 square feet. The average time on the market was 46 days.
92019
There are currently 46 active real estate listings in El Cajon (92019), ranging from $265,000 for 3 bedrooms,2 bathroom, 1266 square feet to 1,999,999 for 4 bedrooms, 6 bathrooms, 5890 square feet.
53 properties are pending (currently in escrow).
34 properties sold (closed escrow) ranging from $276,000 for 4 bedrooms, 3 bathrooms, 1900 square feet to $690,000 for 4 bedrooms, 3 bathrooms, 3124 square feet. The average time on the market was 51 days.
92020
There are currently 46 active real estate listings in El Cajon (92020), ranging from $299,000 for 2 bedrooms,1 bathroom, 800 square feet to 1,595,876 for 6 bedrooms, 5 bathrooms, 5368 square feet.
49 properties are pending (currently in escrow).
36 properties sold (closed escrow) ranging from $190,000 for 3 bedrooms, 1 bathrooms, 1064 square feet to $754,900 for 4 bedrooms, 2 bathrooms, 2439 square feet. The average time on the market was 36 days.
92021
There are currently 34 active real estate listings in El Cajon (92021), ranging from $279,900 for 2 bedrooms,1 bathroom, 1008 square feet to 2,600,000 for 5 bedrooms, 7 bathrooms, 8331 square feet.
51 properties are pending (currently in escrow).
56 properties sold (closed escrow) ranging from $375,000 for 2 bedrooms, 1 bathrooms, 1000 square feet to $840,000 for 4 bedrooms, 4 bathrooms, 4565 square feet. The average time on the market was 46 days.
Wednesday, May 1, 2013
El Cajon Real Estate Market Report - April 2013
Happy May Day everyone. Here are the real estate statistics for El Cajon for the month of April 2013. I have included the numbers for single family homes for all three zip codes. If you would like th stats for condos or another area, please feel free to let me know.
92019
There are currently 44 Active listings. Ranging from $279,000 for 2 bedrooms, 2 bathrooms, 1152 square feet to $1,999,999 for 4 bedrooms, 6 bathrooms, 5890 square feet.
44 properties are pending (currently in escrow).
20 properties sold (closed escrow) in April. Ranging from $245,000 for 3 bedrooms, 2 bathrooms, 1014 square feet to $725,000 for 4 bedrooms, 4 bathrooms, 3330 square feet. The average time on the market was 70 days.
92020
There are currently 38 Active listings. Ranging from $220,500 for 2 bedrooms, 2 bathrooms, 1128 square feet to $1,595,873 for 6 bedrooms, 5 bathrooms, 5368 square feet.
51 properties are pending (currently in escrow).
24 properties sold (closed escrow) in April. Ranging from $224,900 for 1 bedrooms, 1 bathroom, 774 square feet to $675,000 for 3 bedrooms, 2 bathrooms, 3000 square feet. The average time on the market was 43 days.
92021
There are currently 35 Active listings. Ranging from $299,900 for 3 bedrooms, 2 bathrooms, 1358 square feet to $900,000 for 5 bedrooms, 4 bathrooms, 4861 square feet.
77 properties are pending (currently in escrow).
47 properties sold (closed escrow) in April. Ranging from $171,000 for 2 bedrooms, 1 bathroom, 878 square feet to $659,000 for 4 bedrooms, 3 bathrooms, 2873 square feet. The average time on the market was 54 days.
92019
There are currently 44 Active listings. Ranging from $279,000 for 2 bedrooms, 2 bathrooms, 1152 square feet to $1,999,999 for 4 bedrooms, 6 bathrooms, 5890 square feet.
44 properties are pending (currently in escrow).
20 properties sold (closed escrow) in April. Ranging from $245,000 for 3 bedrooms, 2 bathrooms, 1014 square feet to $725,000 for 4 bedrooms, 4 bathrooms, 3330 square feet. The average time on the market was 70 days.
92020
There are currently 38 Active listings. Ranging from $220,500 for 2 bedrooms, 2 bathrooms, 1128 square feet to $1,595,873 for 6 bedrooms, 5 bathrooms, 5368 square feet.
51 properties are pending (currently in escrow).
24 properties sold (closed escrow) in April. Ranging from $224,900 for 1 bedrooms, 1 bathroom, 774 square feet to $675,000 for 3 bedrooms, 2 bathrooms, 3000 square feet. The average time on the market was 43 days.
92021
There are currently 35 Active listings. Ranging from $299,900 for 3 bedrooms, 2 bathrooms, 1358 square feet to $900,000 for 5 bedrooms, 4 bathrooms, 4861 square feet.
77 properties are pending (currently in escrow).
47 properties sold (closed escrow) in April. Ranging from $171,000 for 2 bedrooms, 1 bathroom, 878 square feet to $659,000 for 4 bedrooms, 3 bathrooms, 2873 square feet. The average time on the market was 54 days.
Monday, April 1, 2013
El Cajon Real Estate Report March 2013
I hope everyone had a great month and a Happy Easter. Here are the real estate statistics for all three zip codes in El Cajon. These numbers are for single family homes. If you would like the numbers for a different area or for condos, feel free to let me know.
92019
There are currently 32 active listings in El Cajon zip 92019. Ranging from $204,900 for 2 bedroom, 1 bathroom, 706 square feet to $1,788,000 for 4 bedroom, 5 bathroom, 4498 square feet.
39 properties are pending, (currently in escrow).
34 properties sold (closed escrow) in march. Ranging from $195,100 for 3 bedroom, 1 bathroom, 945 square feet to $721,500 for 5 bedroom, 4 bathroom, 4489 square feet. The average time on the market was 38 days!
92020
There are currently 41 active listings in El Cajon zip 92020. Ranging from $199,000 for 2 bedroom, 1 bathroom, 846 square feet to $1,595,000 for 6 bedroom, 5 bathroom, 5368 square feet.
40 properties are pending, (currently in escrow).
30 properties sold (closed escrow) in march. Ranging from $160,000 for 2 bedroom, 1 bathroom, 754 square feet to $820,000 for 3 bedroom, 4 bathroom, 3388 square feet. The average time on the market was 44 days!
92021
There are currently 42 active listings in El Cajon zip 92021. Ranging from $175,000 for 3 bedroom, 2 bathroom, 1568 square feet to $859,000 for 5 bedroom, 4 bathroom, 4861 square feet.
75 properties are pending, (currently in escrow)!
29 properties sold (closed escrow) in march. Ranging from $202,000 for 1 bedroom, 1 bathroom, 866 square feet to $700,000 for 4 bedroom, 4 bathroom, 3624 square feet. The average time on the market was 72 days.
92019
There are currently 32 active listings in El Cajon zip 92019. Ranging from $204,900 for 2 bedroom, 1 bathroom, 706 square feet to $1,788,000 for 4 bedroom, 5 bathroom, 4498 square feet.
39 properties are pending, (currently in escrow).
34 properties sold (closed escrow) in march. Ranging from $195,100 for 3 bedroom, 1 bathroom, 945 square feet to $721,500 for 5 bedroom, 4 bathroom, 4489 square feet. The average time on the market was 38 days!
92020
There are currently 41 active listings in El Cajon zip 92020. Ranging from $199,000 for 2 bedroom, 1 bathroom, 846 square feet to $1,595,000 for 6 bedroom, 5 bathroom, 5368 square feet.
40 properties are pending, (currently in escrow).
30 properties sold (closed escrow) in march. Ranging from $160,000 for 2 bedroom, 1 bathroom, 754 square feet to $820,000 for 3 bedroom, 4 bathroom, 3388 square feet. The average time on the market was 44 days!
92021
There are currently 42 active listings in El Cajon zip 92021. Ranging from $175,000 for 3 bedroom, 2 bathroom, 1568 square feet to $859,000 for 5 bedroom, 4 bathroom, 4861 square feet.
75 properties are pending, (currently in escrow)!
29 properties sold (closed escrow) in march. Ranging from $202,000 for 1 bedroom, 1 bathroom, 866 square feet to $700,000 for 4 bedroom, 4 bathroom, 3624 square feet. The average time on the market was 72 days.
Friday, March 1, 2013
El Cajon Real Estate Report February 2013
Here are the numbers for the active, pending and sold listings in El Cajon. I have included the statistics for all 3 zip codes and for single family homes only. If you would like the numbers for condos or another area, please feel free to give me a call.
92019
There are currently 42 Active listings. Ranging from $299,900 for 4 bedrooms, 2 bathrooms, 2068 square feet to $1,688,000 for 4 bedrooms, 5 bathrooms, 4498 square feet.
39 properties are pending, (currently in escrow).
17 properties sold (closed escrow) in February. Ranging from $230,000 for 3 bedrooms, 1 bathroom, 1352 square feet to $560,000 for 5 bedrooms, 3 bathrooms, 3474 square feet. The average time on the market was 86 days.
92020
There are currently 27 Active listings. Ranging from $235,000 for 2 bedrooms, 1 bathroom, 753 square feet to $1,550,000 for 6 bedrooms, 5 bathrooms, 5368 square feet.
43 properties are pending, (currently in escrow).
24 properties sold (closed escrow) in February. Ranging from $160,000 for 2 bedrooms, 2 bathroom, 1044 square feet to $700,000 for 3 bedrooms, 3 bathrooms, 2500 square feet. The average time on the market was 51 days.
92021
There are currently 36 Active listings. Ranging from $249,900 for 3 bedrooms, 2 bathrooms, 1026 square feet to $1,495,000 for 3 bedrooms, 3 bathrooms, 5500 square feet.
60 properties are pending, (currently in escrow).
24 properties sold (closed escrow) in February. Ranging from $160,000 for 2 bedrooms, 1 bathroom, 832 square feet to $665,000 for 3 bedrooms, 3 bathrooms, 3007 square feet. The average time on the market was 83 days.
92019
There are currently 42 Active listings. Ranging from $299,900 for 4 bedrooms, 2 bathrooms, 2068 square feet to $1,688,000 for 4 bedrooms, 5 bathrooms, 4498 square feet.
39 properties are pending, (currently in escrow).
17 properties sold (closed escrow) in February. Ranging from $230,000 for 3 bedrooms, 1 bathroom, 1352 square feet to $560,000 for 5 bedrooms, 3 bathrooms, 3474 square feet. The average time on the market was 86 days.
92020
There are currently 27 Active listings. Ranging from $235,000 for 2 bedrooms, 1 bathroom, 753 square feet to $1,550,000 for 6 bedrooms, 5 bathrooms, 5368 square feet.
43 properties are pending, (currently in escrow).
24 properties sold (closed escrow) in February. Ranging from $160,000 for 2 bedrooms, 2 bathroom, 1044 square feet to $700,000 for 3 bedrooms, 3 bathrooms, 2500 square feet. The average time on the market was 51 days.
92021
There are currently 36 Active listings. Ranging from $249,900 for 3 bedrooms, 2 bathrooms, 1026 square feet to $1,495,000 for 3 bedrooms, 3 bathrooms, 5500 square feet.
60 properties are pending, (currently in escrow).
24 properties sold (closed escrow) in February. Ranging from $160,000 for 2 bedrooms, 1 bathroom, 832 square feet to $665,000 for 3 bedrooms, 3 bathrooms, 3007 square feet. The average time on the market was 83 days.
Monday, February 4, 2013
El Cajon Real Estate Market Report - January 2013
It's a new month so that means it is time for the real estate market reports. Here are the statistics for El Cajon. I have included the numbers for single family homes in all three El Cajon zip codes.
92019
There are currently 44 active Real Estate listings in El Cajon zip code 92019. Ranging from $204,900 for 2 bedrooms, 2 bathrooms, 706 square feet to $1,688,000 for 4 bedrooms, 5 bathrooms, 4498 square feet.
31 properties are pending (currently in escrow).
24 properties sold (closed escrow) in January. Ranging from $171,690 for 3 bedrooms, 2 bathrooms, 1158 square feet to $825,000 for 5 bedrooms, 5 bathrooms, 5128 square feet. The average time on the market was 85 days.
92020
There are currently 32 active Real Estate listings in El Cajon zip code 92020. Ranging from $204,900 for 2 bedrooms, 1 bathroom, 774 square feet to $1,595,000 for 6 bedrooms, 5 bathrooms, 5368 square feet.
43 properties are pending (currently in escrow).
33 properties sold (closed escrow) in January. Ranging from $187,500 for 2 bedrooms, 1 bathroom, 950 square feet to $656,000 for 3 bedrooms, 3 bathrooms, 2944 square feet. The average time on the market was 55 days.
92021
There are currently 34 active Real Estate listings in El Cajon zip code 92021. Ranging from $229,999 for 3 bedrooms, 2 bathrooms, 1704 square feet to $1,495,000 for 3 bedrooms, 3 bathrooms, 5500 square feet.
56 properties are pending (currently in escrow).
26 properties sold (closed escrow) in January. Ranging from $185,000 for 3 bedrooms, 3 bathrooms, 1610 square feet to $799,000 for 4 bedrooms, 3 bathrooms, 4296 square feet. The average time on the market was 46 days.
If you or anyone you know is considering buying or selling a home in El Cajon, please give me a call. I would be happy to help.
92019
There are currently 44 active Real Estate listings in El Cajon zip code 92019. Ranging from $204,900 for 2 bedrooms, 2 bathrooms, 706 square feet to $1,688,000 for 4 bedrooms, 5 bathrooms, 4498 square feet.
31 properties are pending (currently in escrow).
24 properties sold (closed escrow) in January. Ranging from $171,690 for 3 bedrooms, 2 bathrooms, 1158 square feet to $825,000 for 5 bedrooms, 5 bathrooms, 5128 square feet. The average time on the market was 85 days.
92020
There are currently 32 active Real Estate listings in El Cajon zip code 92020. Ranging from $204,900 for 2 bedrooms, 1 bathroom, 774 square feet to $1,595,000 for 6 bedrooms, 5 bathrooms, 5368 square feet.
43 properties are pending (currently in escrow).
33 properties sold (closed escrow) in January. Ranging from $187,500 for 2 bedrooms, 1 bathroom, 950 square feet to $656,000 for 3 bedrooms, 3 bathrooms, 2944 square feet. The average time on the market was 55 days.
92021
There are currently 34 active Real Estate listings in El Cajon zip code 92021. Ranging from $229,999 for 3 bedrooms, 2 bathrooms, 1704 square feet to $1,495,000 for 3 bedrooms, 3 bathrooms, 5500 square feet.
56 properties are pending (currently in escrow).
26 properties sold (closed escrow) in January. Ranging from $185,000 for 3 bedrooms, 3 bathrooms, 1610 square feet to $799,000 for 4 bedrooms, 3 bathrooms, 4296 square feet. The average time on the market was 46 days.
If you or anyone you know is considering buying or selling a home in El Cajon, please give me a call. I would be happy to help.
Wednesday, January 2, 2013
El Cajon Real Estate Market Report - Dec 2012
Happy New Year. I can't believe it is 2013! Where did 2012 go? It is time for the monthly real estate market report for El Cajon. Below are the real estate statistics for December 2012. I have included the numbers for active listing, pending properties and single family homes that sold. The information is divided into the 3 El Cajon zip codes. If you would like information for another area or condos please feel free to give me a call.
92019
There are currently 44 active listings in El Cajon zip code 92019. These are homes that are currently on the market and available to purchase. They range from $235,000 for 2 bedrooms, 1 bathroom, 1180 square feet to $1,688,000 for 4 bedrooms, 5 bathrooms, 4498 square feet.
33 properties are pending (currently in escrow).
22 properties sold in December. Ranging from $205,000 for 3 bedrooms, 1 bathroom, 1209 square feet to $695,000 for 3 bedrooms, 2 bathrooms, 2942 square feet. The average time on the market was 47 days.
92020
There are currently 40 active listings in El Cajon zip 92020. These are homes that are currently on the market and available to purchase. They range from $230,000 for 3 bedrooms, 2 bathrooms, 1435 square feet to $1,595,000 for 6 bedrooms, 5 bathrooms, 5368 square feet.
45 properties are pending (currently in escrow).
28 properties sold in December. Ranging from $185,000 for 2 bedrooms, 1 bathroom, 994 square feet to $640,000 for 3 bedrooms, 3 bathrooms, 2780 square feet. The average time on the market was 77 days.
92021
There are currently 32 active listings in El Cajon zip code 92021. These are homes that are currently on the market and available to purchase. They range from $171,900 for 2 bedrooms, 1 bathroom, 878 square feet to $1,495,000 for 3 bedrooms, 3 bathrooms, 5500 square feet.
47 properties are pending (currently in escrow).
35 properties sold in December. Ranging from $185,000 for 3 bedrooms, 2 bathrooms, 1198 square feet to $845,000 for 4 bedrooms, 4 bathrooms, 3505 square feet. The average time on the market was 91 days.
92019
There are currently 44 active listings in El Cajon zip code 92019. These are homes that are currently on the market and available to purchase. They range from $235,000 for 2 bedrooms, 1 bathroom, 1180 square feet to $1,688,000 for 4 bedrooms, 5 bathrooms, 4498 square feet.
33 properties are pending (currently in escrow).
22 properties sold in December. Ranging from $205,000 for 3 bedrooms, 1 bathroom, 1209 square feet to $695,000 for 3 bedrooms, 2 bathrooms, 2942 square feet. The average time on the market was 47 days.
92020
There are currently 40 active listings in El Cajon zip 92020. These are homes that are currently on the market and available to purchase. They range from $230,000 for 3 bedrooms, 2 bathrooms, 1435 square feet to $1,595,000 for 6 bedrooms, 5 bathrooms, 5368 square feet.
45 properties are pending (currently in escrow).
28 properties sold in December. Ranging from $185,000 for 2 bedrooms, 1 bathroom, 994 square feet to $640,000 for 3 bedrooms, 3 bathrooms, 2780 square feet. The average time on the market was 77 days.
92021
There are currently 32 active listings in El Cajon zip code 92021. These are homes that are currently on the market and available to purchase. They range from $171,900 for 2 bedrooms, 1 bathroom, 878 square feet to $1,495,000 for 3 bedrooms, 3 bathrooms, 5500 square feet.
47 properties are pending (currently in escrow).
35 properties sold in December. Ranging from $185,000 for 3 bedrooms, 2 bathrooms, 1198 square feet to $845,000 for 4 bedrooms, 4 bathrooms, 3505 square feet. The average time on the market was 91 days.
Monday, December 3, 2012
El Cajon Real Estate Market Report November 2012
Merry Christmas everyone. December is here and that means it is time to see how the El Cajon real estate market looked for the month of November. I am including the numbers for single family detached homes for all three of the El Cajon zip codes. If you would like information for condos or another area, please feel free to let me know.
92019
There are currently 49 active listings. Ranging from $235,000 for 2 bedroom, 1 bathroom, 1180 square feet to $1,688,000 for 4 bedroom, 5 bathroom, 4498 square feet.
47 properties are pending (currently in escrow).
24 properties sold in November. Ranging from $170,000 for 2 bedroom, 1 bathroom, 837 square feet to $875,000 for 4 bedroom, 4 bathroom, 3359 square feet. The average time on the market was 92 days.
92020
There are currently 37 active listings. Ranging from $220,000 for 2 bedroom, 1 bathroom, 1352 square feet to $1,595,000 for 6 bedroom, 5 bathroom, 5368 square feet.
47 properties are pending (currently in escrow).
22 properties sold (closed escrow) in November. Ranging from $170,000 for 2 bedroom, 1 bathroom, 648 square feet to $650,000 for 3 bedroom, 3 bathroom, 3628 square feet. The average time on the market was 46 days.
92021
There are currently 42 active listings. Ranging from $215,000 for 3 bedroom, 2 bathroom, 1704 square feet to $3,900,000 for 4 bedroom, 6 bathroom, 7745 square feet.
54 properties are pending (currently in escrow).
36 properties sold in November. Ranging from $160,000 for 2 bedroom, 1 bathroom, 804 square feet to $655,000 for 4 bedroom, 3 bathroom, 2870 square feet. The average time on the market was 49 days.
Wow, by looking at the numbers you can see there have been some serious changes in the real estate market. Inventory is way down and the buyers are back. If you are considering selling a home, now is the time to do it. Do not wait until after the holidays like so many others. Get your property listed NOW while there is less competition and the buyers are hungry.
I will be working through the holidays and I am here to answer all your questions. When you hear of anyone thinking of buying or selling a home, I would appreciate you recommending me. I would like to wish you and your family and very Merry Christmas and a safe and Happy New Year.
92019
There are currently 49 active listings. Ranging from $235,000 for 2 bedroom, 1 bathroom, 1180 square feet to $1,688,000 for 4 bedroom, 5 bathroom, 4498 square feet.
47 properties are pending (currently in escrow).
24 properties sold in November. Ranging from $170,000 for 2 bedroom, 1 bathroom, 837 square feet to $875,000 for 4 bedroom, 4 bathroom, 3359 square feet. The average time on the market was 92 days.
92020
There are currently 37 active listings. Ranging from $220,000 for 2 bedroom, 1 bathroom, 1352 square feet to $1,595,000 for 6 bedroom, 5 bathroom, 5368 square feet.
47 properties are pending (currently in escrow).
22 properties sold (closed escrow) in November. Ranging from $170,000 for 2 bedroom, 1 bathroom, 648 square feet to $650,000 for 3 bedroom, 3 bathroom, 3628 square feet. The average time on the market was 46 days.
92021
There are currently 42 active listings. Ranging from $215,000 for 3 bedroom, 2 bathroom, 1704 square feet to $3,900,000 for 4 bedroom, 6 bathroom, 7745 square feet.
54 properties are pending (currently in escrow).
36 properties sold in November. Ranging from $160,000 for 2 bedroom, 1 bathroom, 804 square feet to $655,000 for 4 bedroom, 3 bathroom, 2870 square feet. The average time on the market was 49 days.
Wow, by looking at the numbers you can see there have been some serious changes in the real estate market. Inventory is way down and the buyers are back. If you are considering selling a home, now is the time to do it. Do not wait until after the holidays like so many others. Get your property listed NOW while there is less competition and the buyers are hungry.
I will be working through the holidays and I am here to answer all your questions. When you hear of anyone thinking of buying or selling a home, I would appreciate you recommending me. I would like to wish you and your family and very Merry Christmas and a safe and Happy New Year.
Friday, November 2, 2012
El Cajon Real Estate Market Report - October 2012
Here is the monthly real estate report for all three zip codes in El Cajon, for the month of October. I have included the statistics for single family homes in El Cajon. If you would like information for condos or another area, please fee free to let me know.
92019
There are currently 51 Active listings for homes for sale in El Cajon zip code 92019. Ranging from $245,000 for 3 bedrooms, 2 bathrooms, 1540 sqft to $1,688,000 for 4 bedrooms, 5 bathrooms, 4498 sqft.
42 homes are pending, in escrow.
30 properties SOLD (closed escrow) in October, ranging from $215,000 for 3 bedrooms, 2 bathrooms, 1040 sqft to $820,000 for 5 bedrooms, 4 bathrooms, 4489 sqft. The average time on the market was 98 days.
92020
There are currently 43 Active listings for homes for sale in El Cajon zip code 92020. Ranging from $169,000 for 2 bedrooms, 1 bathroom, 648 sqft to $979,900 for 6 bedrooms, 3 bathrooms, 4038 sqft.
47 homes are pending, in escrow.
27 properties SOLD (closed escrow) in October, ranging from $191,000 for 2 bedrooms, 1 bathroom, 754 sqft to $750,000 for 6 bedrooms, 4 bathrooms, 3779 sqft. The average time on the market was 41 days.
92021
There are currently 53 Active listings for homes for sale in El Cajon zip code 92021. Ranging from $190,000 for 2 bedrooms, 1 bathroom, 1030 sqft to $3,900,000 for 4 bedrooms, 6 bathrooms, 7745 sqft.
60 homes are pending, in escrow.
36 properties SOLD (closed escrow) in October, ranging from $185,900 for 2 bedrooms, 3 bathrooms, 1696 sqft to $631,500 for 3 bedrooms, 3 bathrooms, 3176 sqft. The average time on the market was 61 days.
92019
There are currently 51 Active listings for homes for sale in El Cajon zip code 92019. Ranging from $245,000 for 3 bedrooms, 2 bathrooms, 1540 sqft to $1,688,000 for 4 bedrooms, 5 bathrooms, 4498 sqft.
42 homes are pending, in escrow.
30 properties SOLD (closed escrow) in October, ranging from $215,000 for 3 bedrooms, 2 bathrooms, 1040 sqft to $820,000 for 5 bedrooms, 4 bathrooms, 4489 sqft. The average time on the market was 98 days.
92020
There are currently 43 Active listings for homes for sale in El Cajon zip code 92020. Ranging from $169,000 for 2 bedrooms, 1 bathroom, 648 sqft to $979,900 for 6 bedrooms, 3 bathrooms, 4038 sqft.
47 homes are pending, in escrow.
27 properties SOLD (closed escrow) in October, ranging from $191,000 for 2 bedrooms, 1 bathroom, 754 sqft to $750,000 for 6 bedrooms, 4 bathrooms, 3779 sqft. The average time on the market was 41 days.
92021
There are currently 53 Active listings for homes for sale in El Cajon zip code 92021. Ranging from $190,000 for 2 bedrooms, 1 bathroom, 1030 sqft to $3,900,000 for 4 bedrooms, 6 bathrooms, 7745 sqft.
60 homes are pending, in escrow.
36 properties SOLD (closed escrow) in October, ranging from $185,900 for 2 bedrooms, 3 bathrooms, 1696 sqft to $631,500 for 3 bedrooms, 3 bathrooms, 3176 sqft. The average time on the market was 61 days.
Thursday, October 18, 2012
Monday, October 1, 2012
El Cajon Real Estate Market Report - September 2012
October is here so it is to see what happened in the El Cajon real estate market during the month of September. I have included information for single family homes in all three of the El Cajon zip codes. If you would like information regarding a different area or for condos, just let me know.
92019
There are currently 49 Active real estate listings in El Cajon zip code 92019. Ranging from $239,000 for 3 bedrooms, 2 bathrooms, 1014 square feet to 1,899,000 for 4 bedrooms, 5 bathrooms, 4498 square feet.
54 properties are pending (currently in escrow).
28 properties sold (closed escrow) in September. Ranging from $190,000 for 3 bedrooms, 1 bathroom, 935 square feet to $702,600 for 6 bedrooms, 5 bathrooms, 6700 square feet. The average time on the market was 51 days.
92020
There are currently 54 Active listings in El Cajon zip code 92020. Ranging from $199,000 for 3 bedrooms, 1 bathroom, 1053 square feet to 975,000 for 3 bedrooms, 4 bathrooms, 3388 square feet.
39 properties are pending (currently in escrow).
31 properties sold (closed escrow) in September. Ranging from $165,000 for 3 bedrooms, 1 bathroom, 846 square feet to $700,000 for 4 bedrooms, 3 bathrooms, 2879 square feet. The average time on the market was 64 days.
92021
There are currently 68 Active listings in El Cajon zip code 92021. Ranging from $199,000 for 3 bedrooms, 2 bathrooms, 1454 square feet to 3,900,000 for 4 bedrooms, 6 bathrooms, 7745 square feet.
58 properties are pending (currently in escrow).
40 properties sold (closed escrow) in September. Ranging from $153,000 for 3 bedrooms, 2 bathrooms, 1124 square feet to $620,000 for 4 bedrooms, 4 bathrooms, 3373 square feet. The average time on the market was 59 days.
92019
There are currently 49 Active real estate listings in El Cajon zip code 92019. Ranging from $239,000 for 3 bedrooms, 2 bathrooms, 1014 square feet to 1,899,000 for 4 bedrooms, 5 bathrooms, 4498 square feet.
54 properties are pending (currently in escrow).
28 properties sold (closed escrow) in September. Ranging from $190,000 for 3 bedrooms, 1 bathroom, 935 square feet to $702,600 for 6 bedrooms, 5 bathrooms, 6700 square feet. The average time on the market was 51 days.
92020
There are currently 54 Active listings in El Cajon zip code 92020. Ranging from $199,000 for 3 bedrooms, 1 bathroom, 1053 square feet to 975,000 for 3 bedrooms, 4 bathrooms, 3388 square feet.
39 properties are pending (currently in escrow).
31 properties sold (closed escrow) in September. Ranging from $165,000 for 3 bedrooms, 1 bathroom, 846 square feet to $700,000 for 4 bedrooms, 3 bathrooms, 2879 square feet. The average time on the market was 64 days.
92021
There are currently 68 Active listings in El Cajon zip code 92021. Ranging from $199,000 for 3 bedrooms, 2 bathrooms, 1454 square feet to 3,900,000 for 4 bedrooms, 6 bathrooms, 7745 square feet.
58 properties are pending (currently in escrow).
40 properties sold (closed escrow) in September. Ranging from $153,000 for 3 bedrooms, 2 bathrooms, 1124 square feet to $620,000 for 4 bedrooms, 4 bathrooms, 3373 square feet. The average time on the market was 59 days.
Thursday, September 6, 2012
El Cajon Real Estate Market Report - August 2012
Here are the real estate statistics for all 3 zip codes in El Cajon for the month of August. I have included the numbers for the active, pending and sold single family homes.
92019
There are currently 62 active listings in zip code 92019. Ranging from $169,200 for 2 bedrooms, 1 bathroom, 837 square feet to $1,899,000 for 4 bedrooms, 5 bathrooms, 4498 square feet.
51 properties are pending (currently in escrow).
38 properties sold (closed escrow) in August. Ranging from $230,000 for 3 bedrooms, 2 bathrooms, 1283 square feet to $790,000 for 5 bedrooms, 4 bathrooms, 3400 square feet. The average time on the market was 53 days.
92020
There are currently 49 active listings in zip code 92020. Ranging from $192,000 for 2 bedrooms, 1 bathroom, 816 square feet to $999,900 for 6 bedrooms, 3 bathrooms, 4038 square feet.
50 properties are pending (currently in escrow).
33 properties sold (closed escrow) in August. Ranging from $182,000 for 2 bedrooms, 1 bathroom, 1020 square feet to $699,000 for 5 bedrooms, 3 bathrooms, 3579 square feet. The average time on the market was 36 days.
92021
There are currently 58 active listings in zip code 92021. Ranging from $204,900 for 2 bedrooms, 1 bathroom, 804 square feet to $3,900,000 for 4 bedrooms, 6 bathrooms, 7745 square feet.
75 properties are pending (currently in escrow).
40 properties sold (closed escrow) in August. Ranging from $50,000 for 3 bedrooms, 2 bathrooms, 1509 square feet (on land lease) to $660,000 for 5 bedrooms, 3 bathrooms, 3727 square feet. The average time on the market was 77 days.
92019
There are currently 62 active listings in zip code 92019. Ranging from $169,200 for 2 bedrooms, 1 bathroom, 837 square feet to $1,899,000 for 4 bedrooms, 5 bathrooms, 4498 square feet.
51 properties are pending (currently in escrow).
38 properties sold (closed escrow) in August. Ranging from $230,000 for 3 bedrooms, 2 bathrooms, 1283 square feet to $790,000 for 5 bedrooms, 4 bathrooms, 3400 square feet. The average time on the market was 53 days.
92020
There are currently 49 active listings in zip code 92020. Ranging from $192,000 for 2 bedrooms, 1 bathroom, 816 square feet to $999,900 for 6 bedrooms, 3 bathrooms, 4038 square feet.
50 properties are pending (currently in escrow).
33 properties sold (closed escrow) in August. Ranging from $182,000 for 2 bedrooms, 1 bathroom, 1020 square feet to $699,000 for 5 bedrooms, 3 bathrooms, 3579 square feet. The average time on the market was 36 days.
92021
There are currently 58 active listings in zip code 92021. Ranging from $204,900 for 2 bedrooms, 1 bathroom, 804 square feet to $3,900,000 for 4 bedrooms, 6 bathrooms, 7745 square feet.
75 properties are pending (currently in escrow).
40 properties sold (closed escrow) in August. Ranging from $50,000 for 3 bedrooms, 2 bathrooms, 1509 square feet (on land lease) to $660,000 for 5 bedrooms, 3 bathrooms, 3727 square feet. The average time on the market was 77 days.
Tuesday, August 14, 2012
Great Investment
I came across a new listing in the condo complex that I live in and thought, WOW! The unit has 2 bedrooms, 2 full bathrooms and has 1371 square feet. It is located on the third floor, providing lots of privacy and views of the golf course and mountains. The best part is that it is listed for $175,000. Let's take a look at the numbers and see why I said WOW.
$175,000 list price
- $6150 (3.5 down payment. Yes the complex is FHA approved.)
__________
168,850 Loan amount
$808.00 (monthly payment and interest based on 3.9% interest rate)
$182.00 (estimated monthly property tax)
$ 51.00 (estimated monthly insurance)
$250.00 (current monthly HOA fee)
$127.00 (monthly mortgage insurance required with less than 20% down payment)
$1418.00 (total monthly payment)
Units like this one are currently renting for $1450-$1600. WOW! Own a home for less than rent or buy an investment property for instant cash flow! (FHA loans are for owner occupied purchases. Loans for investors would require higher down payment and change the numbers.) Please pass this one along to anyone you know who is looking for an investment opportunity or anyone who is tired of paying their landlord's mortgage. There are other great deals out there. Give me a call!
$175,000 list price
- $6150 (3.5 down payment. Yes the complex is FHA approved.)
__________
168,850 Loan amount
$808.00 (monthly payment and interest based on 3.9% interest rate)
$182.00 (estimated monthly property tax)
$ 51.00 (estimated monthly insurance)
$250.00 (current monthly HOA fee)
$127.00 (monthly mortgage insurance required with less than 20% down payment)
$1418.00 (total monthly payment)
Units like this one are currently renting for $1450-$1600. WOW! Own a home for less than rent or buy an investment property for instant cash flow! (FHA loans are for owner occupied purchases. Loans for investors would require higher down payment and change the numbers.) Please pass this one along to anyone you know who is looking for an investment opportunity or anyone who is tired of paying their landlord's mortgage. There are other great deals out there. Give me a call!
Wednesday, August 8, 2012
El Cajon Real Estate Market July 2012
Here are the July real estate statistics for the 3 zip codes in El Cajon. I have included the numbers for active, pending, and sold single family detached homes.
92019
There are currently 62 active listings in El Cajon (92019). Ranging from $188,000 for 2 bedrooms, 1 bathrooms, 837 square feet to $1,899,000 for 4 bedrooms, 5 bathrooms, 4498 square feet.
56 properties are pending (currently in escrow).
24 properties sold (closed escrow) in July. Ranging from $200,000 for 3 bedrooms, 2 bathrooms, 1400 square feet to $625,000 for 5 bedrooms, 5 bathrooms, 3835 square feet. The average time on the market for the properties that sold was 70 days.
92020
There are currently 48 active listings in El Cajon (92020). Ranging from $159,000 for 2 bedrooms, 1 bathrooms, 754 square feet to $1,000,000 for 6 bedrooms, 3 bathrooms, 4038 square feet.
52 properties are pending (currently in escrow).
34 properties sold (closed escrow) in July. Ranging from $165,000 for 2 bedrooms, 1 bathrooms, 840 square feet to $620,000 for 3 bedrooms, 3 bathrooms, 2508 square feet. The average time on the market for the properties that sold was 46 days.
92021
There are currently 59 active listings in El Cajon (92021). Ranging from $214,500 for 3 bedrooms, 2 bathrooms, 1384 square feet to $3,900,000 for 4 bedrooms, 6 bathrooms, 7745 square feet.
71 properties are pending (currently in escrow).
43 properties sold (closed escrow) in July. Ranging from $119,900 for 1 bedrooms, 1 bathrooms, 546 square feet to $530,000 for 4 bedrooms, 3 bathrooms, 3274 square feet. The average time on the market for the properties that sold was 73 days.
92019
There are currently 62 active listings in El Cajon (92019). Ranging from $188,000 for 2 bedrooms, 1 bathrooms, 837 square feet to $1,899,000 for 4 bedrooms, 5 bathrooms, 4498 square feet.
56 properties are pending (currently in escrow).
24 properties sold (closed escrow) in July. Ranging from $200,000 for 3 bedrooms, 2 bathrooms, 1400 square feet to $625,000 for 5 bedrooms, 5 bathrooms, 3835 square feet. The average time on the market for the properties that sold was 70 days.
92020
There are currently 48 active listings in El Cajon (92020). Ranging from $159,000 for 2 bedrooms, 1 bathrooms, 754 square feet to $1,000,000 for 6 bedrooms, 3 bathrooms, 4038 square feet.
52 properties are pending (currently in escrow).
34 properties sold (closed escrow) in July. Ranging from $165,000 for 2 bedrooms, 1 bathrooms, 840 square feet to $620,000 for 3 bedrooms, 3 bathrooms, 2508 square feet. The average time on the market for the properties that sold was 46 days.
92021
There are currently 59 active listings in El Cajon (92021). Ranging from $214,500 for 3 bedrooms, 2 bathrooms, 1384 square feet to $3,900,000 for 4 bedrooms, 6 bathrooms, 7745 square feet.
71 properties are pending (currently in escrow).
43 properties sold (closed escrow) in July. Ranging from $119,900 for 1 bedrooms, 1 bathrooms, 546 square feet to $530,000 for 4 bedrooms, 3 bathrooms, 3274 square feet. The average time on the market for the properties that sold was 73 days.
Wednesday, June 6, 2012
A Hoarder House?
Yesterday I showed a house in El Cajon to some clients and while it wouldn't be featured on the TV show "Hoarders" it was close! There was stuff everywhere. Every horizontal surface was covered with stacks of items. Only the center of the floor was visible. The furniture was large and I do not think I have seen so many bookshelves in one place outside of the library! Closet doors would not close and I was seriously afraid to open any cabinet for fear of what would tumble out at us. Every room was like this. As you can imagine with all this stuff the place did not smell airy. It smelled of dust, dirty clothes and random old food. This my friends is not the way to get your home sold!
I have heard the rants and justifications from sellers before. "Well, the buyer will just need to look past it". Um how? You can't see any walls, floor or counters! "My home has the lived in feel, I don't like a prim and stuffy feel." The air is so stuffy I can't breathe! "I don't have time to organize." How are you going to move it all when we close escrow? "The carpet is new and will clean up nice". It is thread bare along the only accessible path. "We never use the fireplace so the bookcase in front is better" How will a buyer know the house has a fireplace?
If you are trying to sell your home you have to be realistic! The buyers who come to view a home want to be able to visualize themselves in the space. They cannot do this if there is hardly space for them in the room. The existing items are a distraction and become overwhelming to the buyers. When they see a messy and cluttered home you are NOT creating excitement or something that makes the buyers feel this is a move up to a better life. On the contrary it is depressing and who wants to live in a place that makes you feel like that?
When a buyer sees a dirty and cluttered space it tells them that the seller doesn't take care of their things and doesn't care. The buyer often thinks that this applies to the house as well. If someone can't sort through the years worth of mail or clean the dishes why would they assume that leaks are fixed quickly and regular maintenance done? By having a cluttered, messy home you are putting negative thoughts into the buyer's mind about the property. This is not a good thing.
One of the big things buyers want is space, usually the more the better. By having a cluttered mess the buyers see that the place is too small. Having closets over stuffed they assume there is not enough storage in the home. It is imperative that you get rid of items to open up the home and give a positive impression rather than a negative one. Get rid of the items in front of the windows, open the drapes, let the light shine in and allow the buyers to see that the house has windows and light!
I know it can be hard and overwhelming to pack up a home that you have lived in for a long time. I know, I just did it a couple of years ago. But if you are selling your home you are going to have to move so why not get a jump on the process and get better offers to negotiate? Not to mention if you start clearing out the junk you will have less to move in the end and if you are paying a mover the less you move the less it will cost you! You do not have to do it all in one day, start with one room or even one closet. Decide what you are taking with you, what you will donate and what is trash. Yes, I said it trash! Another hint would be to start using your reserves and not buying more. Really, do you want to move 49 cans of green beans and 14 cases of toilet paper? No more Costco runs!
Start before you put the home on the market and have a neat, organized home for the buyers to view. Continue the process as the home sells. You will be helping your home sell quicker and for more money and when it finally does sell your moving day will be much smoother. Good luck and happy sorting!
I have heard the rants and justifications from sellers before. "Well, the buyer will just need to look past it". Um how? You can't see any walls, floor or counters! "My home has the lived in feel, I don't like a prim and stuffy feel." The air is so stuffy I can't breathe! "I don't have time to organize." How are you going to move it all when we close escrow? "The carpet is new and will clean up nice". It is thread bare along the only accessible path. "We never use the fireplace so the bookcase in front is better" How will a buyer know the house has a fireplace?
If you are trying to sell your home you have to be realistic! The buyers who come to view a home want to be able to visualize themselves in the space. They cannot do this if there is hardly space for them in the room. The existing items are a distraction and become overwhelming to the buyers. When they see a messy and cluttered home you are NOT creating excitement or something that makes the buyers feel this is a move up to a better life. On the contrary it is depressing and who wants to live in a place that makes you feel like that?
When a buyer sees a dirty and cluttered space it tells them that the seller doesn't take care of their things and doesn't care. The buyer often thinks that this applies to the house as well. If someone can't sort through the years worth of mail or clean the dishes why would they assume that leaks are fixed quickly and regular maintenance done? By having a cluttered, messy home you are putting negative thoughts into the buyer's mind about the property. This is not a good thing.
One of the big things buyers want is space, usually the more the better. By having a cluttered mess the buyers see that the place is too small. Having closets over stuffed they assume there is not enough storage in the home. It is imperative that you get rid of items to open up the home and give a positive impression rather than a negative one. Get rid of the items in front of the windows, open the drapes, let the light shine in and allow the buyers to see that the house has windows and light!
I know it can be hard and overwhelming to pack up a home that you have lived in for a long time. I know, I just did it a couple of years ago. But if you are selling your home you are going to have to move so why not get a jump on the process and get better offers to negotiate? Not to mention if you start clearing out the junk you will have less to move in the end and if you are paying a mover the less you move the less it will cost you! You do not have to do it all in one day, start with one room or even one closet. Decide what you are taking with you, what you will donate and what is trash. Yes, I said it trash! Another hint would be to start using your reserves and not buying more. Really, do you want to move 49 cans of green beans and 14 cases of toilet paper? No more Costco runs!
Start before you put the home on the market and have a neat, organized home for the buyers to view. Continue the process as the home sells. You will be helping your home sell quicker and for more money and when it finally does sell your moving day will be much smoother. Good luck and happy sorting!
Wednesday, May 23, 2012
Where Are All the For Sale Houses?
The real estate recovery has been in the news a lot lately. Many of you may be aware that the San Diego real estate market is drastically different than it was just a year ago. Previously the issue was that there were so many houses on the market and the prices were still declining. This caused many would be home buyers to sit on the fence and wait for the market to stabilize before making their purchase. Well what a difference a year makes.
Last month there were aproximately 7700 houses and condos on the market in all of San Diego county. Today there is just 6740. The combination of historically low interest rates, pent up buyer demand and investors making their move have all contributed to the decline in inventory. Right now there is actually a shortage of available properties. At the peak of the recession there was a 13 month supply of inventory, today just over a 1 month.
So what does that mean to you? Well, if you are buyer you need to be prepared for this and understand that you are going to need to be patient. New listings are not flooding the market. You are not going to have 20-30 houses to look at that meet your needs, in fact if you are in the under $250,000 range you are going to be lucky to have 5 (depending on area, size, etc). You are going to need to act quickly and not wait for the weekend to view a property and submit an offer. When a quality listing hits the market you need to be ready, meaning be prequalified for your loan and ready to make a decision. You may also have to compromise on what you are looking for or raise your price point. The days of "low balling" an offer are over. You need to understand what homes are selling for in the area and submit a competitive, clean offer at market value.
If you are a seller you should be taking advantage of the low inventory. If you are considering selling you need to get your home on the market. Why wait until the banks release more REO's or the buyers purchase a different home? You will need to be smart and understand that you still have to price the home to sell. An overpriced home will not sell no matter what the inventory or market is like. A home that is priced above market value is not going to sell. It will not appraise so the buyer will not be able to get the loan and an investor will be a savvy buyer that thinks only of the bottom line. You will also need to understand that while most areas of the county have seen a stabilization of prices, this does not mean that prices are significantly rising. The market will bounce around down here at the bottom and slowly improve. There is not going to be a sharp increase in prices which will bring you back up to where it was at the height within the next year.
If are considering buying or selling, give me a call. I will assist you in understanding what the market value of a home is and help you through the entire process.
Last month there were aproximately 7700 houses and condos on the market in all of San Diego county. Today there is just 6740. The combination of historically low interest rates, pent up buyer demand and investors making their move have all contributed to the decline in inventory. Right now there is actually a shortage of available properties. At the peak of the recession there was a 13 month supply of inventory, today just over a 1 month.
So what does that mean to you? Well, if you are buyer you need to be prepared for this and understand that you are going to need to be patient. New listings are not flooding the market. You are not going to have 20-30 houses to look at that meet your needs, in fact if you are in the under $250,000 range you are going to be lucky to have 5 (depending on area, size, etc). You are going to need to act quickly and not wait for the weekend to view a property and submit an offer. When a quality listing hits the market you need to be ready, meaning be prequalified for your loan and ready to make a decision. You may also have to compromise on what you are looking for or raise your price point. The days of "low balling" an offer are over. You need to understand what homes are selling for in the area and submit a competitive, clean offer at market value.
If you are a seller you should be taking advantage of the low inventory. If you are considering selling you need to get your home on the market. Why wait until the banks release more REO's or the buyers purchase a different home? You will need to be smart and understand that you still have to price the home to sell. An overpriced home will not sell no matter what the inventory or market is like. A home that is priced above market value is not going to sell. It will not appraise so the buyer will not be able to get the loan and an investor will be a savvy buyer that thinks only of the bottom line. You will also need to understand that while most areas of the county have seen a stabilization of prices, this does not mean that prices are significantly rising. The market will bounce around down here at the bottom and slowly improve. There is not going to be a sharp increase in prices which will bring you back up to where it was at the height within the next year.
If are considering buying or selling, give me a call. I will assist you in understanding what the market value of a home is and help you through the entire process.
Tuesday, May 15, 2012
FHA Condos - Do They Really Exist?
With all the media coverage on the historically low interst rates and lower home prices, it is no wonder that there are many first time home buyers looking to make a purchase. A FHA loan is often the way to go for these buyers since the down payment can be as little as 3.5%. For many, this can be a double edged sword. I have numerous buyers right now who qualify for $150,000 using a FHA loan. They are interested in buying their first condo and are very excited and ready to go. They quickly realize that it is not going to be as easy as they thought. See when using a FHA loan there are some special criteria that must be met in order to qualify for the loan. Not only do the individuals need to qualify in terms of income, debt and credit but the condo unit and condo complex also need to qualify.
The condo unit has to be habitable. The condo systems such as electricity, plumbing and heat all need to be in good working order. There needs to be flooring, no peeling paint or holes, and a working stove. With a $150,000 purchase price limit, in San Diego this is the very bottom of the home price range. Many of the condos are in very rough condition and will not meet the FHA requirements. Let's say we do find one in decent condition, that is only the first hurdle. Now we need to take a look at the complex. The complex needs to have minimum of 51% owner occupied units. As more investors snap up the units that are in rough shape and rent them out the lower this percentage becomes. Leaving fewer and fewer complexes that meet this requirement. The third hurdle is that in order to go FHA the complex must not have a high delinquency rate of the HOA fees. With so many homeowners losing their condo many times the HOA fees are not paid for months at a time and if the property is a short sale many banks will NOT agree to pay the back HOA fees. The HOAs need to be in good shape in order for FHA to be possible. The complexes that have the higher owner occupied percentages and lower delinquency rates tend to be the more expensive complexes, which are out of the buyer's budget. I tell you this to keep you informed so that you go into your home search with your eyes wide open. For example in zip code 92019 there are only 11 complexes on the FHA approval list and most do not have condos listed for under $150,000.
So where does that leave you? It is not impossible to find a FHA condo for under $150,000 but you need to understand that not every condo you see on a listing website will work for you. You will need to have patience and understand the rules you are playing by. This will allow you to make informed decisions and be less likely to be disappointed when you find a condo you love but doesn't qualify for FHA. You will understand that there is stiff competition for properties of this type and be able to write competitive offers when you do find one that suits your needs. So go into the house hunt with knowledge and understanding. Understand what you are up against and don't give up. Keep looking and pushing and you will find what you need but give yourself plenty of time to do it.
The condo unit has to be habitable. The condo systems such as electricity, plumbing and heat all need to be in good working order. There needs to be flooring, no peeling paint or holes, and a working stove. With a $150,000 purchase price limit, in San Diego this is the very bottom of the home price range. Many of the condos are in very rough condition and will not meet the FHA requirements. Let's say we do find one in decent condition, that is only the first hurdle. Now we need to take a look at the complex. The complex needs to have minimum of 51% owner occupied units. As more investors snap up the units that are in rough shape and rent them out the lower this percentage becomes. Leaving fewer and fewer complexes that meet this requirement. The third hurdle is that in order to go FHA the complex must not have a high delinquency rate of the HOA fees. With so many homeowners losing their condo many times the HOA fees are not paid for months at a time and if the property is a short sale many banks will NOT agree to pay the back HOA fees. The HOAs need to be in good shape in order for FHA to be possible. The complexes that have the higher owner occupied percentages and lower delinquency rates tend to be the more expensive complexes, which are out of the buyer's budget. I tell you this to keep you informed so that you go into your home search with your eyes wide open. For example in zip code 92019 there are only 11 complexes on the FHA approval list and most do not have condos listed for under $150,000. So where does that leave you? It is not impossible to find a FHA condo for under $150,000 but you need to understand that not every condo you see on a listing website will work for you. You will need to have patience and understand the rules you are playing by. This will allow you to make informed decisions and be less likely to be disappointed when you find a condo you love but doesn't qualify for FHA. You will understand that there is stiff competition for properties of this type and be able to write competitive offers when you do find one that suits your needs. So go into the house hunt with knowledge and understanding. Understand what you are up against and don't give up. Keep looking and pushing and you will find what you need but give yourself plenty of time to do it.
Tuesday, May 1, 2012
El Cajon Real Estate Market Report - April 2012
Here are the El Cajon real estate market conditions for the month of April 2012. I have included the number of active listings, pending homes and the homes that sold in April for all three zip codes in El Cajon. If you would like the stats for condos or another zip code, please feel free to give me a call.
92019
There are currently 61 active real estate listings in El Cajon, ranging from $191,180 for 3 bedroom, 2 bathrooms, 1180 square feet to $1,799,000 for 3 bedrooms, 4 bathrooms, 4702 square feet.
52 properties are pending (in escrow).
19 properties sold (closed escrow) in April. Ranging from $196,000 for 2 bedroom, 1 bathroom, 1011 square feet to $560,000 for 4 bedrooms, 3 bathrooms, 3279 square feet. The average time on the market was 60 days.
92020
There are currently 48 active real estate listings in El Cajon (92020). Ranging from $165,000 for 2 bedrooms, 1 bathroom, 792 square feet to $900,000 for 4 bedrooms, 3 bathrooms, 2926 square feet.
51 properties are pending (in escrow).
28 properties sold (closed escrow) in April. Ranging from $139,000 for 2 bedrooms, 1 bathroom, 720 square feet to $730,000 for 4 bedrooms, 3 bathrooms, 2761 square feet. The average time on the market was 49 days.
92021
There are currently 58 active real estate listings in El Cajon (92021). Ranging from $119,900 for 2 bedrooms, 1 bathroom, 681 square feet to $3,900,000 for 4 bedrooms, 6 bathrooms, 7745 square feet.
58 properties are pending (in escrow).
30 properties sold (closed escrow) in April. Ranging from $114,500 for 2 bedrooms, 1 bathroom, 604 square feet to $710,000 for 5 bedrooms, 4 bathrooms, 6229 square feet. The average time on the market was 78 days.
92019
There are currently 61 active real estate listings in El Cajon, ranging from $191,180 for 3 bedroom, 2 bathrooms, 1180 square feet to $1,799,000 for 3 bedrooms, 4 bathrooms, 4702 square feet.
52 properties are pending (in escrow).
19 properties sold (closed escrow) in April. Ranging from $196,000 for 2 bedroom, 1 bathroom, 1011 square feet to $560,000 for 4 bedrooms, 3 bathrooms, 3279 square feet. The average time on the market was 60 days.
92020
There are currently 48 active real estate listings in El Cajon (92020). Ranging from $165,000 for 2 bedrooms, 1 bathroom, 792 square feet to $900,000 for 4 bedrooms, 3 bathrooms, 2926 square feet.
51 properties are pending (in escrow).
28 properties sold (closed escrow) in April. Ranging from $139,000 for 2 bedrooms, 1 bathroom, 720 square feet to $730,000 for 4 bedrooms, 3 bathrooms, 2761 square feet. The average time on the market was 49 days.
92021
There are currently 58 active real estate listings in El Cajon (92021). Ranging from $119,900 for 2 bedrooms, 1 bathroom, 681 square feet to $3,900,000 for 4 bedrooms, 6 bathrooms, 7745 square feet.
58 properties are pending (in escrow).
30 properties sold (closed escrow) in April. Ranging from $114,500 for 2 bedrooms, 1 bathroom, 604 square feet to $710,000 for 5 bedrooms, 4 bathrooms, 6229 square feet. The average time on the market was 78 days.
Subscribe to:
Posts (Atom)
AddThis
