Actual national home inventory (although inventory in the San Diego housing market was way down) displayed an increase between February 2012 and March 2012, as well, and the average days on the market for a home decreased from 111 days to 89 days in that same month span, which are other positive indicators.  While median list prices vary across national markets, the data collected by Realtor.com indicated a slight upward swing, causing many a home owner to take note.

If you are considering buying a home or selling your current home, these statistics can provide insight into the current real estate market.  Combining these statistics with historically low interest rates (3.88% for a conventional 30 year mortgage last week), could help you in determining your decision. To get more details on the study and comparisons to previous months and years and see the actual graphing trends, please click here.

Realtor Don Reedy

When you look at home prices in Oceanside, CA for single family homes that are now listed, you find that the median price of a home in the Oceanside area has actually increased ever so slightly.  At the same time, however, the number of homes for sale in the Oceanside area has likewise increased.

Why are home prices in Oceanside rising?

In terms of supply and demand, the
market is getting cooler – more
supply is coming on the market
relative to the sales demand.
However, in recent weeks prices
have been moving higher. Since it is
technically a Buyer’s market, this
price trend may be a result of
improved quality (newer, larger
homes) of the homes being listed.

If this trend continues, we may see prices, particularly the median prices, of homes in the Oceanside, CA area continue to rise through the summer.  If you want to talk to me about helping you put a market value on your current home, please contact me. 

Last week’s inventory was 310 homes that had been on the market for 155 days.  While the change toward a strengthening market is not bold, it is apparent that the new inventory of 302 homes with just about the same market time indicates a positive trend.

Vista, California is a unique area, with properties listed as high as $4.2 million, and as low as $120,000.  If you are seeking a roof over your head, at prices not seen in decades, then Vista may be the place to begin your Search for homes. And certainly if you want the California Lifestyle with land, views, prestige and comfort, then the Vista homes in and around Elevado Hills are waiting to be discovered.

Vista CA Condo and Townhome Pricing

Vista, CA is continuing to suffer from tepid sales of condominium and townhome sales.  The inventory of 78 homes (condos and town homes) have been on the market for approximately 160 days, and you can see that the trend for prices continues to fall.

With condo prices ranging from $65,000 to $349,000, it would seem that there are enough homes to appeal to buyers if they were serious buyers.  But again, this market continues to show no signs of improving soon, and so for both buyers and sellers our advice remains the same.  ACT NOW to Search for Homes while the market favors making money for sellers and making sense for buyers.

The programs available from CalHFA are as follows:

^. California Homebuyer’s Downpayment Assistance Program (CHDAP)
^. Cal30 – Conventional Loan Program
^. SMART
^. Community Stabilization Home Loan Program (CSHLP)

The programs available from HCD are as follows:

^. Building Equity and Growth in Neighborhoods Program (BEGIN)
^. CalHome Program
^. Neighborhood Stabilization Program I (NSP-I)
^. Neighborhood Stabilization Program II (NSP-II)
^. HOME Investment Partnership Program (HOME)

For a summary of the features of each of these programs, click here .

Contact me to discuss any of these programs at 760-802-9713.

The information above is presented compliments of the California Association of Realtors

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.

News About FICO Scores and Credit

April 28, 2010

What Makes your Credit Score (FICO) Go Down?

We get questions all the time about how late payments and foreclosures impact a homeowner’s FICO or credit scores.  According to EquiFax, Experian and Transunion, the three biggest credit setting agencies, late payments, foreclosures, short sales and bankruptcies lower your scores, and your scores will be impacted as below.

How Much Does Your Credit Score Go Down?

• Thirty Days Late on Payment (30) – 10 to 100 point loss.
• Ninety Days Late on Payment (90) – 70 to 135 point loss.
• Foreclosure – 130 to 240 point loss.
• Short Sale – 130 to 240 point loss.
• Bankruptcy – 130 to 240 point loss IN ADDITION TO ABOVE LOSSES

If you’re behind on your payments, and no matter what is happening with your job, health, etc., you should carefully consider the impact of being or staying late on your house payments.  We will be happy to take some time to consult with you, and sometimes we can help, but we can always lend an ear and shake out the cobwebs.

$8000 Buyer's Tax Credit Is Expiring

April 27, 2010

$8000 Buyers Tax Credit Is Expiring

On April 30th, with a couple of exceptions for those who have served overseas in 2009 (military and civil service), the $8000 Buyers Tax Credit will expire for once and for all.  This has been a boon to the real estate market in terms of sales volume, with over 47% of all new homes sales being made by first time homebuyers utilizing the credit to buy a house.

What effect will the expiration of the Tax Credit have on home pricing?

Can you say “downward pressure?”  In these last days of the tax credit I have been working with buyers who know that they have $8000 more to play with in terms of making an offer without affecting their bottom line.  This has resulted in offers that are higher, and those higher offers will be off the table in four days.  The result will be a weakening demand by first time home buyers, and that weakening demand will result in home prices in San Diego and other parts of the country declining for the time being.

If you happen to be in the military, then the $8000 Buyers’ Tax Credit will not expire for one more year, and if you fall into this category, please contact us now so that we can educate you about how to take advantage of this continuing benefit to our service men and women.

Home Pricing Information Carlsbad CA

CLICK ON THE IMAGE ABOVE TO READ MORE EASILY

April 26, 2010

Carlsbad home prices continue to perplex some of us. The median listing price of a home in Carlsbad is $795,000. The number of homes on the market continues to rise, and the number of days on the market continues to fall.

Normally those numbers would indicate that housing costs in Carlsbad would rise, but we don’t see this happening. In fact, the number of homes that continue to come on the market seem to be influencing buyers to continue to want the best prices they can get, and that in turn is holding prices stable to somewhat lower.

Valley Center Home Prices

CLICK THE IMAGE EASIER TO MAKE IT EASIER TO READ

April 23, 2010

Home prices in Valley Center are very, very stable right now.  The number of homes on the market is stable at 132 homes, and the median price has remained stable for some weeks now.  Look for this to continue, as this area appeals to buyers who take longer to purchase, but who seem to be willing to invest in the rural lifestyle Valley Center housing provides.