Is anyone interested in listening to some music? Call me if you want to go to the El Cajon - Concerts on the Green. Great way to unwind after a busy week on a cool summer night.
Fridays, 6:00 to 8:00 pm
El Cajon Plaza / Amphitheatre
200 Civic Center Way
(formerly 200 East Main Street)
Parking is available at the El Cajon Courthouse on W.D. Hall Drive
Here is the schedule for the remainder of the summer.
July 30 Java (Dance)
August 6 The Stilettos (Rockabilly)
August 13 The Cat-illacs (Rock & Roll)
August 20 The Coolrays (Beach Boys Tribute)
August 27 Diamond is Forever (Neil Diamond Tribute)
September 3 FX5 (Dance)
Friday, July 30, 2010
Thursday, July 29, 2010
S.D. home prices up 12.4% in May
BY JENNIFER DAVIES UNION-TRIBUNE STAFF WRITER
ORIGINALLY PUBLISHED JULY 27, 2010 AT 6:49 A.M., UPDATED JULY 27, 2010 AT 2:58 P.M.
San Diego home prices increased 12.4 percent in May from a year ago and San Diego was the only metro area in the country with 13 months of consecutive increases in home prices, says the latest Standard & Poor’s Case-Shiller Home Price Index released Tuesday.
San Diego’s increase was the second highest of the 20 metro areas surveyed, with San Francisco taking the top spot with an 18.3 percent increase.
On a monthly basis, San Diego saw its home prices increase 1.1 percent. Since spring is one of the busiest times for home selling, Case-Shiller also provides seasonally adjusted numbers, which showed San Diego with a slightly lower increase at 0.6 percent.
On a nationwide level, prices in the 20 metro areas Case-Shiller tracks were up 4.6 percent from May 2009.
Despite the increases, there are plenty of reasons to be pessimistic about the housing market for the rest of the year.
While prices nationally have improved from the lows hit in April 2009 — San Diego hit its Case-Shiller low in May 2009 — they’ve essentially been flat for much of the past seven months. According to Case-Shiller’s index, home prices in San Diego are at about the same level they were in June 2003.
Maureen Maitland, vice president of Index Services at Standard & Poor’s, said the end of tax credits and the busiest home-buying season means there is little else to prop up home prices.
“Sure, April and May look good. But you have to look at the trends,” she said. “Going forward, all bets are off. You need true economic recovery for the housing market to be sustained.”
Kelly Cunningham, an economist with National University System Institute for Policy Research, said he doesn’t foresee the San Diego region going through another gut-wrenching drop in housing prices but he also doesn’t see any eye-popping gains, either.
“It’s going to be kind of stagnant is the best way to put it,” he said.
Still, stagnant might not be all that bad when compared to other parts of the country. San Diego and other California cities have been performing better than their counterparts in the Sunbelt because they didn’t go through frenzied building sprees during the bubble.
“In coastal California, we have constrained housing development,” Cunningham said. “It comes back down to supply and demand. We don’t have the problems that Las Vegas, Phoenix or even Riverside have.”
Jennifer Davies: (619) 293-1373; jennifer.davies@uniontrib.com
ORIGINALLY PUBLISHED JULY 27, 2010 AT 6:49 A.M., UPDATED JULY 27, 2010 AT 2:58 P.M.
San Diego home prices increased 12.4 percent in May from a year ago and San Diego was the only metro area in the country with 13 months of consecutive increases in home prices, says the latest Standard & Poor’s Case-Shiller Home Price Index released Tuesday.
San Diego’s increase was the second highest of the 20 metro areas surveyed, with San Francisco taking the top spot with an 18.3 percent increase.
On a monthly basis, San Diego saw its home prices increase 1.1 percent. Since spring is one of the busiest times for home selling, Case-Shiller also provides seasonally adjusted numbers, which showed San Diego with a slightly lower increase at 0.6 percent.
On a nationwide level, prices in the 20 metro areas Case-Shiller tracks were up 4.6 percent from May 2009.
Despite the increases, there are plenty of reasons to be pessimistic about the housing market for the rest of the year.
While prices nationally have improved from the lows hit in April 2009 — San Diego hit its Case-Shiller low in May 2009 — they’ve essentially been flat for much of the past seven months. According to Case-Shiller’s index, home prices in San Diego are at about the same level they were in June 2003.
Maureen Maitland, vice president of Index Services at Standard & Poor’s, said the end of tax credits and the busiest home-buying season means there is little else to prop up home prices.
“Sure, April and May look good. But you have to look at the trends,” she said. “Going forward, all bets are off. You need true economic recovery for the housing market to be sustained.”
Kelly Cunningham, an economist with National University System Institute for Policy Research, said he doesn’t foresee the San Diego region going through another gut-wrenching drop in housing prices but he also doesn’t see any eye-popping gains, either.
“It’s going to be kind of stagnant is the best way to put it,” he said.
Still, stagnant might not be all that bad when compared to other parts of the country. San Diego and other California cities have been performing better than their counterparts in the Sunbelt because they didn’t go through frenzied building sprees during the bubble.
“In coastal California, we have constrained housing development,” Cunningham said. “It comes back down to supply and demand. We don’t have the problems that Las Vegas, Phoenix or even Riverside have.”
Jennifer Davies: (619) 293-1373; jennifer.davies@uniontrib.com
Monday, July 26, 2010
Wednesday, July 14, 2010
What is Title Insurance?
Title insurance companies, unlike property or medical insurance companies work to eliminate risk before something happens. Title insurance premiums are paid to identify and eliminate potential claims and risk before they happen. Medical and homeowner insurance premiums are paid to insure against an unpredictable future event. Title insurance premium is paid once, during escrow while other types of insurance are paid at regular intervals and are renewed.
The goal of a title company is to conduct a thorough search and evaluation of public records to prevent any future claims. The experts are trained to identify the rights others may have to your property, such as recorded liens, legal actions, disputed interests, rights of way or other encumbrances on your title. They should have extensive experience in local Boundary Lines and Easement locations which will enable them to forecast potential obstacles in a transaction.
There are 2 different types of title companies. Direct Writers issue their own policy and have reserves set aside to back the policies of title insurance they issue. Title Agents operate like a direct writer, however they do not issue their own policy of title insurance but rather pay a fee to the direct writer for the right to issue a policy of title insurance.
The goal of a title company is to conduct a thorough search and evaluation of public records to prevent any future claims. The experts are trained to identify the rights others may have to your property, such as recorded liens, legal actions, disputed interests, rights of way or other encumbrances on your title. They should have extensive experience in local Boundary Lines and Easement locations which will enable them to forecast potential obstacles in a transaction.
There are 2 different types of title companies. Direct Writers issue their own policy and have reserves set aside to back the policies of title insurance they issue. Title Agents operate like a direct writer, however they do not issue their own policy of title insurance but rather pay a fee to the direct writer for the right to issue a policy of title insurance.
Tuesday, July 6, 2010
El Cajon Real Estate Market Report For June 2010
Here is the real estate market report for El Cajon for the month of June. Below you will find information for the 3 El Cajon zip codes. This report includes information for single family homes only, condos are not included.
92019
There are 107 active listings ranging from $219,000 for 3 bedroom 2 bath, 1180 sqft to $2,595,000 for 4 bedroom 6 bath, 5890 sqft.
52 properties are pending, in escrow.
25 properties sold in June ranging from $185,000 for 2 bedroom 1 bath, 955 sqft to $778,000 for 4 bedroom 4 bath, 3702 sqft. The average market time was 70 days.
92020
There are currently 97 active listings ranging from $159,000 for 2 bedroom 1 bath, 780 sqft to $999,900 for 4 bedroom 4 bath, 4700 sqft.
53 properties are pending, currently in escrow.
24 properties sold in June ranging from $230,000 for a 4 bedroom 2 bath, 1616 sqft to $612,000 for 4 bedroom 3 bath, 2946 sqft. The average market time was 45 days.
92021
There are currently 104 active listings ranging from $189,000 for a 2 bedroom 2 bath, 1050 sqft to $1,795,000 for 3 bedroom 2 bath, 7500 sqft.
49 properties are currently pending, in escrow.
29 properties sold in June ranging from $190,000 for 2 bedroom 2 bath, 960 sqft to $980,000 for 4 bedroom 6 bath, 4389 sqft home. Average market time was 64 days.
If you would like me to run the numbers for you in a different area, please feel free to give me a call.
92019
There are 107 active listings ranging from $219,000 for 3 bedroom 2 bath, 1180 sqft to $2,595,000 for 4 bedroom 6 bath, 5890 sqft.
52 properties are pending, in escrow.
25 properties sold in June ranging from $185,000 for 2 bedroom 1 bath, 955 sqft to $778,000 for 4 bedroom 4 bath, 3702 sqft. The average market time was 70 days.
92020
There are currently 97 active listings ranging from $159,000 for 2 bedroom 1 bath, 780 sqft to $999,900 for 4 bedroom 4 bath, 4700 sqft.
53 properties are pending, currently in escrow.
24 properties sold in June ranging from $230,000 for a 4 bedroom 2 bath, 1616 sqft to $612,000 for 4 bedroom 3 bath, 2946 sqft. The average market time was 45 days.
92021
There are currently 104 active listings ranging from $189,000 for a 2 bedroom 2 bath, 1050 sqft to $1,795,000 for 3 bedroom 2 bath, 7500 sqft.
49 properties are currently pending, in escrow.
29 properties sold in June ranging from $190,000 for 2 bedroom 2 bath, 960 sqft to $980,000 for 4 bedroom 6 bath, 4389 sqft home. Average market time was 64 days.
If you would like me to run the numbers for you in a different area, please feel free to give me a call.
Jamul Real Estate Report For June 2010
Happy July everyone! I hope you had a fun and safe 4th of July. Here are the real estate statistics for Jamul for the month of June.
There are currently 97 Active listings, ranging from $149,900 for a 2 bedroom 1 bath, 906 sqft, extreme fixer to $2,350,000 for a 6 bedroom, 5 bath, 6264 sqft home.
6 properties are pending, currently in escrow.
3 properties sold in June ranging from $360,000 for 3 bedroom, 3 bath, 2292 square foot home to $504,000 for a 3 bedroom, 3 bath, 3065 square foot home. The average market time was 61 days.
There are currently 97 Active listings, ranging from $149,900 for a 2 bedroom 1 bath, 906 sqft, extreme fixer to $2,350,000 for a 6 bedroom, 5 bath, 6264 sqft home.
6 properties are pending, currently in escrow.
3 properties sold in June ranging from $360,000 for 3 bedroom, 3 bath, 2292 square foot home to $504,000 for a 3 bedroom, 3 bath, 3065 square foot home. The average market time was 61 days.
Thursday, July 1, 2010
Bank of America Loan Modification Program
I have been getting a lot of requests for this information so I thought I would share with it everyone. Here is the link to Bank of America's website for Home Mortgage assistance.
Bank of America - Home Affordability Modification Program
If you do not qualify for a modification or you decide to sell your home through a short sale, please call me. I would be happy to explain the process and get it started.
Bank of America - Home Affordability Modification Program
If you do not qualify for a modification or you decide to sell your home through a short sale, please call me. I would be happy to explain the process and get it started.
Wednesday, June 30, 2010
San Diego 4th of July Fireworks 2010
Here are some of the places you can catch Fourth of July Fireworks this year.
SAN DIEGO
SeaWorld San Diego - Celebrate Independence Day on July 3rd, 4th & 5th starting at approximately 9:30 p.m.
Ocean Beach Pier – On July 4th, Fireworks begin at 9 p.m and will be synchronized to KYXY Radio's patriotic music.
Port of San Diego: at 9 p.m. - San Diego Bay is the place to be on Sunday, July 4, 2010. You can see these fireworks from Shelter Island, Harbor Island, Spanish Landing, Embarcadero Marina Parks North and South, Cesar Chavez Park, Coronado Tidelands Park and the Imperial Beach Pier.
La Jolla Cove Fireworks - over La Jolla Cove at 9 p.m. on the 4th (858) 454-1444.
Mira Mesa Recreation Center/ Mira Mesa Community Park: July 4th, Fireworks begin at 9 p.m. and will be synchronized to KYXY Radio's patriotic music.
Rancho Bernardo Fireworks begin at 9 p.m. and will be synchronized to KYXY Radio's patriotic music.
NORTH COUNTY
Poway -The fireworks to begin at 9 p.m.
The San Diego County Fair - The fireworks will begin at 9 p.m.
San Marcos at Bradley Park – Fireworks will begin at 9
Escondido Grape Day Park – Fireworks will begin at 9 p.m. and will be synchronized to KYXY Radio's patriotic music.
Vista's Brengle Terrace Park 4th of July - Fireworks to begin at 9 p.m
EAST COUNTY
Lake Murray Fireworks - Fireworks to begin at 9:15 p.m.
Ramona Fireworks - Olive Peirce Middle School, Fireworks to begin at 9 pm. and will be synchronized to KYXY's radio's patriotic music.
El Cajon Fireworks : Kennedy Park, Fireworks to begin at 9 p.m. synchronized to KYXY Radio's patriotic music.
Santee Salutes July 4th: - Fireworks to begin at 9 p.m.
Spring Valley Swap Meet – Fireworks to begin at 9 p.m.
SOUTH BAY
National City: Kimball Park - Fireworks to begin at 9 p.m.
SAN DIEGO
SeaWorld San Diego - Celebrate Independence Day on July 3rd, 4th & 5th starting at approximately 9:30 p.m.
Ocean Beach Pier – On July 4th, Fireworks begin at 9 p.m and will be synchronized to KYXY Radio's patriotic music.
Port of San Diego: at 9 p.m. - San Diego Bay is the place to be on Sunday, July 4, 2010. You can see these fireworks from Shelter Island, Harbor Island, Spanish Landing, Embarcadero Marina Parks North and South, Cesar Chavez Park, Coronado Tidelands Park and the Imperial Beach Pier.
La Jolla Cove Fireworks - over La Jolla Cove at 9 p.m. on the 4th (858) 454-1444.
Mira Mesa Recreation Center/ Mira Mesa Community Park: July 4th, Fireworks begin at 9 p.m. and will be synchronized to KYXY Radio's patriotic music.
Rancho Bernardo Fireworks begin at 9 p.m. and will be synchronized to KYXY Radio's patriotic music.
NORTH COUNTY
Poway -The fireworks to begin at 9 p.m.
The San Diego County Fair - The fireworks will begin at 9 p.m.
San Marcos at Bradley Park – Fireworks will begin at 9
Escondido Grape Day Park – Fireworks will begin at 9 p.m. and will be synchronized to KYXY Radio's patriotic music.
Vista's Brengle Terrace Park 4th of July - Fireworks to begin at 9 p.m
EAST COUNTY
Lake Murray Fireworks - Fireworks to begin at 9:15 p.m.
Ramona Fireworks - Olive Peirce Middle School, Fireworks to begin at 9 pm. and will be synchronized to KYXY's radio's patriotic music.
El Cajon Fireworks : Kennedy Park, Fireworks to begin at 9 p.m. synchronized to KYXY Radio's patriotic music.
Santee Salutes July 4th: - Fireworks to begin at 9 p.m.
Spring Valley Swap Meet – Fireworks to begin at 9 p.m.
SOUTH BAY
National City: Kimball Park - Fireworks to begin at 9 p.m.
Monday, June 28, 2010
Alpine Home Just Listed
Check out this wonderful Alpine home for sale. It features 3 bedrooms and 2 full baths. Call me today for all the details and to schedule an appointment to see.
Coyote Attacks 12-year-old Girl in Spring Valley
June 28, 2010 (Spring Valley) - A coyote attacked a 12-year-old girl in Spring Valley around 9:30 p.m. tonight. According to Lt. Washington with the San Diego Sheriff, the animal pounced on the girl on Jamacha Road, approximately one block from Spring Valley Library and La Presa Middle School.
Fortunately the girl was not bitten, however parents should keep an eye on children and use caution if walking or jogging alone.
East County Magazine has also received reports of unusually aggressive attacks by coyotes on large dogs in Blossom Valley, as well as a report of a coyote chasing a 9-year-old on horseback near Lake Jennings.
Coyote attacks on humans, while not common, do occur with the majority of attacks in Southern California. Even adults have been subject to attack, including a Canadian singer who died after she was attacked by a pack of coyotes in a park. Fatalities are rare; in the U.S. only one death has ocurred from a coyote attack--a three-year-old child playing unattended in a Glendale yard.
For information on how to protect yourself, your children and your pets from coyote attacks, including details on where to find "coyote rollers" to keep coyotes from jumping into fenced yards, see our website at http://www.eastcountymagazine.org/
Fortunately the girl was not bitten, however parents should keep an eye on children and use caution if walking or jogging alone.
East County Magazine has also received reports of unusually aggressive attacks by coyotes on large dogs in Blossom Valley, as well as a report of a coyote chasing a 9-year-old on horseback near Lake Jennings.
Coyote attacks on humans, while not common, do occur with the majority of attacks in Southern California. Even adults have been subject to attack, including a Canadian singer who died after she was attacked by a pack of coyotes in a park. Fatalities are rare; in the U.S. only one death has ocurred from a coyote attack--a three-year-old child playing unattended in a Glendale yard.
For information on how to protect yourself, your children and your pets from coyote attacks, including details on where to find "coyote rollers" to keep coyotes from jumping into fenced yards, see our website at http://www.eastcountymagazine.org/
Tuesday, June 22, 2010
Farmers' Markets - A Taste of Summer
Summer is here and you know what that means...yummy, fresh fruits and veggies. Here are some San Diego area Farmer's Markets that you might want to check out.
Cardiff Seaside Market, 2087 San Elijo Ave, 7am-10pm daily, 760-767-5555
Carlsbad Farmers' Market, Roosevelt St. between Frand and Carlsbad Village, Wed & Sat, 1pm-5pm, 760-434-2553
Chula Vista Farmers' Market & Open Air Bazaar, Center St. & 3rd, Thurs, 3pm-6pm, 619-422-1982
Otay Ranch Farmers' Market, 2015 Birch Rd & East Lake Blvd, Tues, 4pm-7pm, 619-522-1982
City Heights Farmers' Market, Wightman St between Fairmont and 43rd, Sat, 9am-1pm, 760-751-4193
Clairemont Market and Bazaar, Schweitzer Elementary School, Sat, 3pm-6:30pm
Coronado Farmers' Market, Old Ferry Landing, 1st St and B Ave, Tues, 2:30-6pm, 760-741-3763
Del Mar Farmer's Market, El Camino del Mar & 10th, City Hall parking lot, Sat, 1pm-4pm, 760-727-1471
East Village Farmers' Market, 8th and Market, Sat, 8am-3pm, 619-232-1430
Horton Square Farmers' Market, Horton Square downtown, Thur, 11am-3pm, 760-741-3763
3rd Ave Farmers' Market and International Bazaar, 400 block of 3rd Ave, Sun, 9am-1pm, 619-279-0032
Encinitas Farmers' Market, Paul Ecke Elementary, Sun, 10am-2pm, 760-745-8877
Escondido Farmers' Market, Grand Ave between Juniper and Kalmia St, Tues, 3:30pm-7pm, 760-745-8877
Hillcrest Farmers' Market, 3960 Normal St, Sun, 9am-2pm, 619-237-1632
La Jolla Farmers' Market, La Jolla Elementary, Sun 9am-1pm, 858-454-1699
La Mesa Farmers' Market, La Mesa Village on Allison St, Fri, 3pm-6pm, 619-440-5027
Little Italy Mercato, Date st and India, Sat, 9-1:30pm, 619-233-3769
Mission Valley Farmers' Market, Westfield Mall East Parking lot, Fri, 3pm-7pm, 619-795-3363
North Park Farmers' Market, University and 32nd, Thurs, 3pm-sunset, 619-237-1632
Ocean Beach Farmers' Market, Newport Ave between Cable and Bacon, Wed, 4pm-8pm, 619-279-0032
Oceanside Farmers' Market, Pier View Way and Coast Hwy 101, Thurs, 9am-1pm, 619-440-5027
Pacific Beach Farmers' Market, Promenade Mall, Mission Blvd between Reed and Pacific Beach Blvd, Sat, 8am-noon, 760-741-3763
Point Loma Farmers' Market, Liberty Station, Sun, 9:30am-2:30pm, 619-795-3363
Poway Farmers' Market, Midland Rd and Temple St, Sat, 8am-11:30pm, 858-668-4576
Ramona Certified Farmers' Market, Collier Park, 626 E St, Sat, 8:30am-12:30pm, 760-788-1924
Rancho Bernardo Farmers' Market, Bernardo Winery, Fri, 9am-noon, 760-500-1709
Scripps Ranch Farmers' Market, Scripps Poway Pkwy and Spring Canyon Rd, Sat, 9am-1pm, 858-586-7933
Solana Beach Farmers' Market, South end of Cedros Ave, Sun, 1pm-5pm, 858-755-0444
Temecula Farmers' Market, Pronenade Mall, outside of JC Penney, Wed, 9am-1pm, 760-728-7343
Tierrasanta Farmers' Market, De Portola Middle School, Thurs, 3pm-7pm, 858-272-7054
UCSD Farmers' Market, UCSD Bookstore, Lyman Lane and Library Walk, Tues, 10am-2pm, 858-534-4248
Valley Center Farmers' Market, Valley Center Community Center, Thurs, 3pm-7pm, 760-751-4193
Vista Farmers' Market, County Courthouse, Sat, 8am-noon, 760-945-7425
Cardiff Seaside Market, 2087 San Elijo Ave, 7am-10pm daily, 760-767-5555
Carlsbad Farmers' Market, Roosevelt St. between Frand and Carlsbad Village, Wed & Sat, 1pm-5pm, 760-434-2553
Chula Vista Farmers' Market & Open Air Bazaar, Center St. & 3rd, Thurs, 3pm-6pm, 619-422-1982
Otay Ranch Farmers' Market, 2015 Birch Rd & East Lake Blvd, Tues, 4pm-7pm, 619-522-1982
City Heights Farmers' Market, Wightman St between Fairmont and 43rd, Sat, 9am-1pm, 760-751-4193
Clairemont Market and Bazaar, Schweitzer Elementary School, Sat, 3pm-6:30pm
Coronado Farmers' Market, Old Ferry Landing, 1st St and B Ave, Tues, 2:30-6pm, 760-741-3763
Del Mar Farmer's Market, El Camino del Mar & 10th, City Hall parking lot, Sat, 1pm-4pm, 760-727-1471
East Village Farmers' Market, 8th and Market, Sat, 8am-3pm, 619-232-1430
Horton Square Farmers' Market, Horton Square downtown, Thur, 11am-3pm, 760-741-3763
3rd Ave Farmers' Market and International Bazaar, 400 block of 3rd Ave, Sun, 9am-1pm, 619-279-0032
Encinitas Farmers' Market, Paul Ecke Elementary, Sun, 10am-2pm, 760-745-8877
Escondido Farmers' Market, Grand Ave between Juniper and Kalmia St, Tues, 3:30pm-7pm, 760-745-8877
Hillcrest Farmers' Market, 3960 Normal St, Sun, 9am-2pm, 619-237-1632
La Jolla Farmers' Market, La Jolla Elementary, Sun 9am-1pm, 858-454-1699
La Mesa Farmers' Market, La Mesa Village on Allison St, Fri, 3pm-6pm, 619-440-5027
Little Italy Mercato, Date st and India, Sat, 9-1:30pm, 619-233-3769
Mission Valley Farmers' Market, Westfield Mall East Parking lot, Fri, 3pm-7pm, 619-795-3363
North Park Farmers' Market, University and 32nd, Thurs, 3pm-sunset, 619-237-1632
Ocean Beach Farmers' Market, Newport Ave between Cable and Bacon, Wed, 4pm-8pm, 619-279-0032
Oceanside Farmers' Market, Pier View Way and Coast Hwy 101, Thurs, 9am-1pm, 619-440-5027
Pacific Beach Farmers' Market, Promenade Mall, Mission Blvd between Reed and Pacific Beach Blvd, Sat, 8am-noon, 760-741-3763
Point Loma Farmers' Market, Liberty Station, Sun, 9:30am-2:30pm, 619-795-3363
Poway Farmers' Market, Midland Rd and Temple St, Sat, 8am-11:30pm, 858-668-4576
Ramona Certified Farmers' Market, Collier Park, 626 E St, Sat, 8:30am-12:30pm, 760-788-1924
Rancho Bernardo Farmers' Market, Bernardo Winery, Fri, 9am-noon, 760-500-1709
Scripps Ranch Farmers' Market, Scripps Poway Pkwy and Spring Canyon Rd, Sat, 9am-1pm, 858-586-7933
Solana Beach Farmers' Market, South end of Cedros Ave, Sun, 1pm-5pm, 858-755-0444
Temecula Farmers' Market, Pronenade Mall, outside of JC Penney, Wed, 9am-1pm, 760-728-7343
Tierrasanta Farmers' Market, De Portola Middle School, Thurs, 3pm-7pm, 858-272-7054
UCSD Farmers' Market, UCSD Bookstore, Lyman Lane and Library Walk, Tues, 10am-2pm, 858-534-4248
Valley Center Farmers' Market, Valley Center Community Center, Thurs, 3pm-7pm, 760-751-4193
Vista Farmers' Market, County Courthouse, Sat, 8am-noon, 760-945-7425
Wednesday, June 16, 2010
More Sales, Higher Prices May Indicate Shift in California Housing Market
Wednesday, June 16th, 2010, 11:15 am
The housing market in California showed rising sales and prices in May, indicating a possible shift in local areas.
Home sales in Southern California rose in higher-priced areas, while sales are accelerating in San Francisco. The monthly rate of mortgage defaults and subsequent level of foreclosures also drew back last month.
As discounted bargains dried up in SoCal's lower-cost inland areas, sales migrated to higher-priced coastal neighborhoods over the past year, according to San Diego-based real estate information provider MDA DataQuick.
A total 22,270 new and resale houses and condos closed escrow in May in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties. It marked a 9.7% increase from the month before and a 7.2% increase from the same time a year earlier.
Tax incentives and low mortgage rates fed sales in mid- to high-end areas, where sellers have become more motivated over the last year, MDA said. The median sales price in SoCal jumped $20,000, or 7%, from April to $305,000. The median sales price, which topped $300,000 for the first time in 20 months, is now 22.5% higher than the same time last year.
"Last month's jump in the regional median sale price is the flipside of what we saw a year ago, when low-cost inland foreclosures dominated and sales in the costlier coastal towns struggled for a pulse," said MDA DataQuick president John Walsh. "Today the bargains on foreclosures are fewer and farther between, and the high-end is approaching a normal sales rate."
Walsh added: "The important thing to remember, though, is that what we saw in May was partly driven by government stimulus. In the second half of the year the market will have to stand on its own again, barring new forms of government involvement. Prices will be tested if there's any sudden move by lenders to release a flood of distressed properties."
North along the Californian coast, the San Francisco housing market is seeing a bit of its own revival. Home sales activity is accelerating, working inventory down from historic highs, according to the San Francisco Association of Realtors.
"As closed sales activity has rebounded, sellers have regained some leverage in negotiations," says Association president John Lee, in a statement. "Prices at the low-end of the market are stable while pricing volatility in higher-priced segments remains."
The median single-family home price rose slightly on a yearly basis to $752,500 in May. Despite the relatively flat appreciation, pricing conditions appear stable, according to the Rosen Consulting Group, a California-based real estate and regional economics research consulting firm.
"Rising housing affordability, driven by attractive pricing and low mortgage rates combined with a more optimistic view of the economy assisted by government incentives have brought buyers back to the market," the Rosen Consulting Group said in a statement.
"Recognizing the shifting market conditions, sellers who have been waiting for more favorable market conditions to place their homes on the market should begin to do so in coming months."
Writen by Diana Golobay.
http://www.housingwire.com/2010/06/16/more-sales-higher-prices-may-indicate-shift-in-california-housing-market
The housing market in California showed rising sales and prices in May, indicating a possible shift in local areas.
Home sales in Southern California rose in higher-priced areas, while sales are accelerating in San Francisco. The monthly rate of mortgage defaults and subsequent level of foreclosures also drew back last month.
As discounted bargains dried up in SoCal's lower-cost inland areas, sales migrated to higher-priced coastal neighborhoods over the past year, according to San Diego-based real estate information provider MDA DataQuick.
A total 22,270 new and resale houses and condos closed escrow in May in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties. It marked a 9.7% increase from the month before and a 7.2% increase from the same time a year earlier.
Tax incentives and low mortgage rates fed sales in mid- to high-end areas, where sellers have become more motivated over the last year, MDA said. The median sales price in SoCal jumped $20,000, or 7%, from April to $305,000. The median sales price, which topped $300,000 for the first time in 20 months, is now 22.5% higher than the same time last year.
"Last month's jump in the regional median sale price is the flipside of what we saw a year ago, when low-cost inland foreclosures dominated and sales in the costlier coastal towns struggled for a pulse," said MDA DataQuick president John Walsh. "Today the bargains on foreclosures are fewer and farther between, and the high-end is approaching a normal sales rate."
Walsh added: "The important thing to remember, though, is that what we saw in May was partly driven by government stimulus. In the second half of the year the market will have to stand on its own again, barring new forms of government involvement. Prices will be tested if there's any sudden move by lenders to release a flood of distressed properties."
North along the Californian coast, the San Francisco housing market is seeing a bit of its own revival. Home sales activity is accelerating, working inventory down from historic highs, according to the San Francisco Association of Realtors.
"As closed sales activity has rebounded, sellers have regained some leverage in negotiations," says Association president John Lee, in a statement. "Prices at the low-end of the market are stable while pricing volatility in higher-priced segments remains."
The median single-family home price rose slightly on a yearly basis to $752,500 in May. Despite the relatively flat appreciation, pricing conditions appear stable, according to the Rosen Consulting Group, a California-based real estate and regional economics research consulting firm.
"Rising housing affordability, driven by attractive pricing and low mortgage rates combined with a more optimistic view of the economy assisted by government incentives have brought buyers back to the market," the Rosen Consulting Group said in a statement.
"Recognizing the shifting market conditions, sellers who have been waiting for more favorable market conditions to place their homes on the market should begin to do so in coming months."
Writen by Diana Golobay.
http://www.housingwire.com/2010/06/16/more-sales-higher-prices-may-indicate-shift-in-california-housing-market
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