Real Estate News – Case-Shiller Housing Report
Home Prices in San Diego
San Diego – April 29, 2010
The newest Case-Shiller Index is out, and it seems to be good news for all San Diego homeowners.
The Case-Shiller index is maintained by Standard and Poors, and is generally regarded as one of the best home value reports in the nation. Although changes have recently been made to the report to reflect the seasonal fluctuations, this month’s report indicates that San Diego is among the few cities that have shown gains in housing prices.
Home prices rose 0.9% in February. Sound small? Well this increase is up 7.9% from last year, and compared with the other twenty cities measured in the report, shows that San Diego housing prices continue an upward, steady progression.
What was the other big news in this report? Well, home sales in the lower segment of the market have been brisk most of the year, with investors and first time home buyers snapping up homes to take advantage of the lower prices and great interest rates. But the news this month is that homes priced above $460,000 finally began to increase as well. The increase in value was a similar 0.9% increase, but this marks the first time in over 4 years that these homes have begun to show life.
Contact us if you want more detailed information.
No related posts.
Equal Housing Opportunity. Equal Opportunity Employer.
April 09, 2011 at 10:51 am, Alan Phillips said:
Sir;
I currently have my home on the market Petaluma, Ca 94954. As a retired couple we are looking to downsize to a small er home just for the two of us. We have our eyes set on the north castal area of San Diego county probably Carlsbad Oceanside areas. I also an working with a realtor in DelMar. in findingh the right home.
I have large amount of equity in my home and have it on the high side of the asking prices for the area. I am also competing in an area of foreclosures and REO’s in my area. With the proceds of my current home I be able to put a large (approx 50%) down on the home in San Diego.
April 09, 2011 at 11:40 am, Don said:
Alan,
It’s a tough market out there for home sellers, and yes, foreclosures and REO’s will end up hurting the amount you’ll be able to sell your home for up in Petaluma. It’s the same down here in Carlsbad and Oceanside. I believe it will be at least five more years before we work our way through this mess, so in my opinion prices are likely to remain stagnant during the period.
What to do, then, about your situation? If you’re over 62, then you would qualify for a reverse mortgage plan to buy your new home down here in San Diego. You can tell your current Realtor if you want to do that, and I would be happy to put him/her in touch with a very talented Reverse Mortgage Specialist. He will be able to give you facts about how much equity would be required to do a Reverse Mortgage purchase (it’s called the HECM program), and IF IT MAKES SENSE FOR YOU TO DO SO.
Please email me at DonReedySanDiego@gmail.com if you want me to put you in touch with my Reverse Mortgage Specialist. What you’re doing; that is, planning and doing research, will almost always bring you the very best result you and your wife can have. Congratulations on that!
Best to you,
Don Reedy