North SD County Market Snapshot through January, 2017

North San Diego County Real Estate Housing Snapshot |  Through January 2017

  Monthly Indicators

  • Median Sales Price of Detached Homes – $649,000
  • Median Sales Price of Attached Homes – $420,000
  • Median Sales Price of All Homes – $525,000

January brings out a rejuvenated crop of buyers with a renewed enthusiasm in a new calendar year. Sales totals may still inevitably start slow in the first half of the year due to ongoing inventory concerns. Continued declines in the number of homes available for sale may push out potential buyers who simply cannot compete for homes selling at higher price points in a low number of days, especially if mortgage rates continue to increase.

-Closed Sales increased 6.3 percent for Detached homes but decreased 7.0 percent for Attached homes

-Pending Sales increased 18.8 percent for Detached homes and 0.7 percent for Attached homes.

-The Median Sales Price was up 7.4 percent to $649,888 for Detached homes and 13.5 percent to $420,000 for Attached homes.

-Days on Market decreased 4.2 percent for Detached homes and 30.8 percent for Attached homes.
-Supply decreased 25.0 percent for Detached homes and 35.7 percent for Attached homes.

In case you missed it, we have a new U.S. president. In his first hour in office, the .25 percentage point rate cut on mortgage insurance premiums for loans backed by the Federal Housing Administration (FHA) was removed, setting the table for what should be an interesting presidential term for real estate policy. FHA loans tend to be a favorable option for those with limited financial resources. On a brighter note, wages are on the uptick for many Americans, while unemployment rates have remained stable and relatively unchanged for several months. The system is ripe for more home purchasing if there are more homes available to sell.

For Full Report Click Here

*  FOR A DETAILED REPORT FOR YOUR SPECIFIC NEIGHBORHOOD OR ZIP CODE CONTACT ME: kara@bremproperties.com

Current as of February 4, 2016. All data from Sandicor®, Inc. Report © 2016 ShowingTime


Posted on January 9, 2017 at 2:54 pm
Kara Brem | Posted in Uncategorized |

List of SD County’s Holiday Lights and Glittering Festivities

San Diego Family presents the county’s most comprehensive list of holiday light shows and glittering festivities

6646-elegant-tern-pl-noco

Download San Diego Family’s Map of Christmas light displays and take it with you

 

North County Inland

CARMEL MOUNTAIN RANCH, 92128
Fairway Village, east and west sides of Stoney Gate Pl. 80 homes decorated in “Holiday Magic”. Dec. 10-Jan.1, 5:30-10:30 pm.

ESCONDIDO, 92027
2609 Meadowlark Ln. An inflatable world for Christmas with over 35 inflatables and 1,000 lights. Candy canes for kids on Fri. & Sat., 6-9 pm. Dec. 1-Jan. 1, 5-10 pm. Dec. 24-26, 9am-10pm.

POWAY, 92064
12631 Stoutwood St. Off Twin Peaks Rd. & Deerwood St. Nicknamed “The Griswolds.” Dec. 1-Jan. 1, 5:30-10 pm weekdays, 11 pm weekends.

Hickory Ct./Hickory St., 12659 Butterwood Ct. and Rockrose Ct. All off Twin Peaks Rd. & Silverset St. named “Candy Cane Courts.” Entire cul-de-sacs are lit up. Dec. 10-24, 6-9 pm.

RAMONA, 92065
23542 Bassett Way. “Happy Lights Ramona” with 30,000+ lights animated to music on 106.9 FM using 996 computer channels to control the lights. Nov. 24-Jan. 1; Sun-Th, 5:30-10 pm; and Fri & Sat, 5:30-11 pm.

RANCHO PEÑASQUITOS, 92129
Oviedo St. Off Black Mountain Rd. “Christmas Card Lane.” Also enter off Twin Trails Dr. & Carmel Mountain Rd. Dec. 9-31, dusk-10 pm.

SAN MARCOS, 92069, 92078
1639 Knob Hill. Off Nordahl Rd. Between Tam O’ Shanter Dr. & Augusta Dr.; 29th year of decorating. 100,000+ lights plus themed displays. Nov. 24-Dec. 30, 5-9 pm. See Santa Dec. 14-23, 6:30-8 pm. www.ChristmasOnKnobHill.com

North County Coastal

CARLSBAD, 92009, 92011
7607 Romeria St. Nicknamed “The Carlsbad Christmas House”. Walk up to see the animated window display, swimming penguins, surfing Santa, Snoopy skating and three snow machines. Food drive donations accepted. Dec. 4-31, 5-9 pm.

6646 Elegant Tern Pl. Real Santa’s mailbox for the kids and treats nightly. Santa writes back a free personalized letter to each child. Free community event Dec. 17 with cotton candy, crafts, bubbles and a special guest. Dec. 3-25, 5-10 pm.

6646-elegant-tern-pl-noco

OCEANSIDE, 92056, 92057
1615 Quiet Hills Dr. Lights synchronized to over 10 songs on 87.9 FM. http://ChristmasOnQuietHills.com

2329 Snead Dr. Lights, lights, lights, Santa arrives by hot air balloon, nativity scene, animated elves and Santa village light display. Walk up to see a Christmas scene in the garage. Dec. 5-31, 5:30-9 pm.

1562 Peacock Blvd. Rudolph, Christmas trees and lights. Dec. 10-Jan. 5. 5:30-10 pm.

1562 Peacock Blvd. – Oceanside

Holidays at LEGOLAND, California. Enjoy live entertainment, twinkling lights, festive holiday songs and dancing with LEGO Friends Live, snow flurries, nightly fireworks Dec. 26-31, and the annual Kids’ New Year’s Eve Party on Dec. 31. Nov. 25-Jan. 1. 760-918-5346. www.LEGOLAND.com

legoland Christmas Lights

Oceanside Harbor Parade of Lights. Boats decorated in holiday lights circle Oceanside Harbor. Dec. 10, 7 pm. 760-722-5751. www.oceansideyc.net

San Diego Botanic Garden “Garden of Lights”. 125,000+ lights illuminating the Garden. Horse-drawn wagon rides, live music, holiday crafts, visits with Santa and marshmallow roasting. Dec. 3-23 and 26-30, 5-9 pm. Adults, $15-$20, children 3-12, $5. 230 Quail Gardens Dr., Encinitas. 760-436-3036. www.SDBGarden.org

South Bay

CHULA VISTA, 91910, 91911, 91914, 91915
Whitney St./Mankato. Circle between First and Second Ave. off H St. & 1st Ave. “Christmas Circle.” 59th year of decorating 55+ homes. Dec. 10-26, 5-10 pm.

PARADISE HILLS, 92139
2160 Reo Dr. 14th year of decorating. Nov. 21-Dec. 31, 7pm-midnight. On Dec. 17, free cookies and cocoa, 6:30-9 pm and Santa will be there from 6:30-8 pm.

CORONADO, 92118
Hotel del Coronado. Hotel del Coronado Celebrate the magic of the holidays as America’s beachfront legend transforms into a winter wonderland of ice and lights, sparkles and snowflakes. With its magnificent outdoor ice skating rink and DELights, The Del is celebrating all things shiny and bright. Join friends and family for lavish feasts, Victorian teas, festive parties and holiday traditions. 1500 Orange Ave. 619-522-8490. www.hoteldel.com

Downtown San Diego

Luminaria. Trees, lamp posts, roofs and courtyards all decorated with lights. Along 30th St. and Fern St. from Juniper to Grape to Beech. Nov.27-Jan. 1. www.SouthParkScene.com

The Forward House in Bankers Hill. Experience the sight and sounds of the season at 108 Ivy St. (1st & Ivy). Built in 1905 for Mayor John Forward Sr, adorned with lights every season since 1998. Nov. 24-Dec. 31, 5–10 pm. 619-533-7904. www.amsecmortgage.net

the Forward House Christmas Lights

San Diego Central

BALBOA PARK
Jungle Bells at the San Diego Zoo. Celebration of Lights and Carol of the Jungle Bells light experiences, Twinkle Light Trolley and live entertainment. Dec. 10-Jan. 2, 9 am-8 pm (til 5 pm Dec. 24). 619-231-1515. www.sandiegozoo.org

CLAIREMONT, 92117
Lana Dr. & Jamar. Off Mt. Abernathy Ave. Circular street. “Clairemont Christmas Park”. 40+ homes decorated. Dec. 1-24.

5404 Mt. Burnham Dr. Features a 96-channel animated light display to 98.5 FM. North Pole village display, train and animated figures display in garage. Dec. 12-31, 6-10 pm.

EL CERRITO, 92115
4210 E Overlook Dr. Nicely decorated home includes 4-ft snowmen, lights, an English phone booth, nutcrackers, life-size sleigh and non-toxic falling snow. Dec. 5-Jan. 5, dusk to 10 pm.

4210 E Overlook christmas lights

MIRA MESA, 92126
8866 Cassioepia Way. Decorated house with a Disney theme. Dec. 10-31, dusk-10 pm.

10780 Foxwood Rd. Decorated house with a Scooby Doo theme. Dec. 10-31, dusk-10 pm.

11505 Elbert Ct. Decorated house with a PAW Patrol theme. Dec. 10-31, dusk-10 pm.

SCRIPPS RANCH, 92131
Stonebridge Parkway and Merritage Ct. Nicknamed “Merry-tage Court”, entire street lit up with fun themes. Dec. 1-31, 5:30-9:30 pm.

merry Tage Court

TIERRASANTA, 92124
5306 Belardo Dr. Off Via Valarta at Via Playa De Cortes. 100,000 lights and decorations all sequenced and animated to music at 106.1 FM. Nov. 26-Dec. 26, 6-10 pm. www.belardolights.com

10927 Baroque Lane. A Winter wonderland with shooting star display, animated ski village, miniature village, snowmen and more. Dec. 9-28, 6-10 pm.

10927 Baroque Lane – Tierrasanta

San Diego Coastal

POINT LOMA, 92106
Garrison St. & Chatsworth. Off Rosecrans. “Garrison Street Lights”. Dec. 1-31. dusk-10 pm.

Mission Bay Christmas Boat Parade of Lights. Over 100 vessels. Begins on Quivira Basin. Dec. 10, starts at 7 pm. 858-488-0501. www.mbyc.org

San Diego Bay Parade of Lights. 45th Anniversary. “It Began with a Roar – San Diego Zoo Celebrates 100 Years” theme. Dec. 11 & 18, 5 pm. Starts off Shelter Island, goes through the harbor and ends at the Ferry Landing, Coronado. www.sdparadeoflights.org

SeaWorld’s Christmas Celebration. SeaWorld is decked out with more than a million holiday lights, a 40-ft. tree with an animated light show and the all-new Rudolph’s Christmastown. Also visit Snow Hill with real snow (Dec. 17-Jan. 1 only). SeaWorld’s Christmas Celebration runs Nov. 19-Jan. 1. www.seaworldsandiego.com

seaworld Christmas Lights

Sights and Sounds of Christmas. Walk the Temple grounds and enjoy more than 130,000 lights and nativity scenes. Free. Dec. 1-Jan. 1, 5-11 pm. San Diego Temple, 7474 Charmant Dr., UTC.

sights and sounds of Christmas

East County

EL CAJON, 92020, 92021
Jingle Bell Hill (also known as Pepper Dr. Lights). Solomon Ave./Pegeen Pl. and surrounding area. Off 67 & Bradley. Dec. 7-26, Mon-Th, 6-9 pm, Fri-Sun, 6-10 pm.

11456 Pegeen Pl. “Nightmare Before Christmas” theme, complete with Jack, Sally, Zero, the Mayor & Oogie Boogie. Santa may make a surprise visit. Dec. 5-Jan. 1, Mon-Th, 6-9 pm and Fri-Sun, 6-10 pm.

1838 El Pico Dr. Off Hacienda Dr. 53rd year decorating the 20-ft. star that’s 100 ft. up. Nov. 29-Dec. 31. Also see a 55-ft. train. Dec. 8-31, dusk-10 pm.

9777 Valley Ranch Rd. Cul-de-sac of lights programmed to 89.1 FM/87.9 FM. Giant dazzling trees, twinkling stars and a Winter Wonderland of computerized light and music shows. Nov. 28-Dec. 31, 5-10:30 pm.

9777 Valley Ranch christmas lights

1552 Cajon Greens Pl. Light-o-rama with a 20-ft. tree, thousands of lights, leaping arches, yard decorations, roof slopes of lights and video projector. Nov. 25-Jan. 2, Sun-Th, dusk-10 pm and Fri-Sat, dusk-midnight.
LAKESIDE, 92040
10248 Paseo Palmas Dr. 20+ houses nicknamed “Tinsel Town.” Dec. 5-25, 5:30-9 pm.

13518 Appaloosa Dr. 48 channels of lights dancing to 88.1 FM. Dec. 1-Jan. 1, 5-10 pm.

LA MESA, 91941, 91942
6266 De Camp Dr. 22-ft tree of light and more. Lights dance to Christmas songs. Dec. 1- 25, 5-9 pm.

6266 de camp dr

9367 Urban Dr. Decorated with lots of lights and inflatables. Dec. 1-31, dusk-10 pm.

9367 Urban Dr. christmas lights

7817 Quince St. House lit up. Donations for Humane Society accepted. Dec. 6-31, dusk-10 pm.

8045 Stadler St. Inflatables matched with traditional illuminations. Dec. 1-24, dusk-10 pm.

LEMON GROVE/LOMITA, 91945
689 Meadowbrook Dr. Off Jamacha Rd. South of Lemon Grove. Occasional sightings of Santa and Mrs. Claus. Dec. 8-Jan. 1, dusk-10 pm.

2618 Sheri Lane. Cul-de-sac turns into Santa Claus Lane. Light show at 6:30 pm and every 30 minutes on 89.9 FM. Dec. 1-31, 5:30-9:30 pm.

SANTEE, 92071
Starlight Circle/Sunburst Santee. Tomel Court, off Magnolia. Many homes lit up. Dec. 17-26, dusk-10 pm.

9325 Pebble Beach Dr. Displays on house and yard set to music. Dec. 1-31, dusk-10 pm.

9435 Saint Andrews Dr. Santee’s gingerbread house with over 12,000 lights. Nov. 28-Jan. 1, dusk-10pm.

9435 Saint Andrews christmas lights

9773 Roe Dr. 27,000 Christmas lights dance to 10 songs over 128 computer channels. Food Bank and St. Jude donations accepted. Dec. 3-Jan. 2. Sun-Th, 6-10 pm and Fri & Sat, 6-11 pm. www.DBChristmas.com
SPRING VALLEY, 91977
4037 N. Bonita St. Lots of lights, music and decorations. Dec. 15-Jan. 5, dusk-11 pm.

If you know of any beautiful Christmas light displays in San Diego County that aren’t listed, contact us to be included next year: 619-685-6970; family@sandiegofamily.com

Updated: December 2016


Posted on December 5, 2016 at 4:40 pm
Kara Brem | Posted in Uncategorized |

North SD County Market Snapshot through October, 2016

North San Diego County Real Estate Housing Snapshot |  Through October 2016

  Monthly Indicators

  • Median Sales Price of Detached Homes – $650,000
  • Median Sales Price of Attached Homes – $410,000
  • Median Sales Price of All Homes – $579,000

As we enter the final quarter of 2016, not much has changed since the year began. Market predictions have been, in a word, predictable. A relatively comfortable pace of activity has been maintained thanks to continuing low unemployment and mortgage rates. The one basic drag on market acceleration has been inventory decline. There is little to indicate that the low inventory situation will resolve anytime soon.

-Closed Sales increased 6.9 percent for Detached homes and 1.4 percent for Attached homes

-Pending Sales increased 10.9 percent for Detached homes and 9.7 percent for Attached homes

-The Median Sales Price was up 11.1 percent to $650,000 for Detached homes and 7.9 percent to $410,000 for Attached homes

-Days on Market decreased 11.6 percent for Detached homes and 20.0 percent for Attached home

-Supply decreased 16.1 percent for Detached homes and 27.8 percent for Attached homes

Builder confidence is as high as it has been in more than a decade, yet the pace of economic growth has been slow enough to cause pause. A low number of first-time buyer purchases and a looming demographic shift also seem to be curbing the desire to start new single-family construction projects. As older Americans retire and downsize, single-family listings are expected to rise. The waiting is the hardest part.

For Full Report Click Here

*  FOR A DETAILED REPORT FOR YOUR SPECIFIC NEIGHBORHOOD OR ZIP CODE CONTACT ME: kara@bremproperties.com

Current as of October 4, 2016. All data from Sandicor®, Inc. Report © 2016 ShowingTime


Posted on November 28, 2016 at 9:28 am
Kara Brem | Posted in Uncategorized |

North County SD Market Snapshot through September, 2016

North San Diego County Real Estate Housing Snapshot |  Through September 2016

  Monthly Indicators

  • Median Sales Price of Detached Homes – $635,000
  • Median Sales Price of Attached Homes – $395,000
  • Median Sales Price of All Homes – $558,000

As anticipated at the outset of the year, demand has remained high through the first three quarters of 2016, propping up sales and prices despite heavy reductions in inventory and months of supply across the country. With rental prices and employment opportunities in a consistent climb, year-over-year increases in home buying are probable for the rest of the year but not guaranteed.

-Closed Sales decreased 1.9 percent for Detached homes and 20.4 percent for Attached homes

-Pending Sales increased 26.0 percent for Detached homes and 5.8 percent for Attached homes.

-The Median Sales Price was up 7.6 percent to $635,000 for Detached homes and 10.5 percent to $395,000 for Attached homes

-Days on Market decreased 5.1 percent for Detached homes and 20.6 percent for Attached homes.

-Supply decreased 12.5 percent for Detached homes and 26.3 percent for Attached homes.

In general, today’s demand is driven by three factors: Millennials are reaching prime home-buying age, growing families are looking for larger homes and empty nesters are downsizing. However, intriguingly low interest rates often prompt refinancing instead of listing, contributing to lower inventory. Recent studies have also shown that short-term rentals are keeping a collection of homes off the market.

For Full Report Click Here

*  FOR A DETAILED REPORT FOR YOUR SPECIFIC NEIGHBORHOOD OR ZIP CODE CONTACT ME: kara@bremproperties.com

Current as of October 4, 2016. All data from Sandicor®, Inc. Report © 2016 ShowingTime


Posted on November 3, 2016 at 9:09 am
Kara Brem | Posted in Uncategorized |

North SD County Market Snapshot Through July 2016

North San Diego County Real Estate Housing Snapshot Through July 2016

Current as of August 4, 2016. All data from Sandicor®, Inc. Report © 2016 ShowingTime

  Monthly Indicators

  • Median Sales Price of Detached Homes – $636,000
  • Median Sales Price of Attached Homes – $410,000
  • Median Sales Price of All Homes – $555,000

Even as prices rise in many communities, homes are selling faster now than they have in the past several years. This creates a situation where buyers need to move fast in order to secure homes, and they may have to pay more for them. While increasing prices generally coax more selling activity, there has been some hesitancy among potential sellers who worry that they will not be able to buy a desirable and reasonably priced home once they sell.

 

-Closed Sales decreased 19.4 percent for Detached homes and 23.6 percent for Attached homes.

-Pending Sales increased 6.6 percent for Detached homes and 3.8 percent for Attached homes. 

-The Median Sales Price was up 2.7 percent to $636,750 for Detached homes and 9.3 percent to $410,000 for Attached homes.

-Days on Market decreased 13.2 percent for Detached homes and 33.3 percent for Attached homes.

-Supply decreased 8.8 percent for Detached homes and 30.4 percent for Attached homes.

-The national unemployment rate recently dropped 0.3 percent to 4.7 percent, but some states felt more of a pinch in their own figures.

Low housing supply has already prevented an outright national boon in sales activity, despite a continuation of near record-low mortgage rates and an unemployment rate under 5.0 percent deep into 2016. The issue is not purchasing power. Many areas are falling behind last year's closed sales totals simply because of lack of available inventory. As this continues, higher prices may put a deeper squeeze on the current buyer pool.

For Full Report Click Here

 

*  FOR A DETAILED REPORT FOR YOUR SPECIFIC NEIGHBORHOOD OR ZIP CODE CONTACT ME: kara@bremproperties.com

Current as of August 4, 2016. All data from Sandicor®, Inc. Report © 2016 ShowingTime


Posted on August 25, 2016 at 5:04 pm
Kara Brem | Posted in Uncategorized |

North San Diego County Real Estate Housing Snapshot

North San Diego County Real Estate Housing Snapshot |  Through June 2016

  Monthly Indicators

  • Median Sales Price of Detached Homes – $650,000
  • Median Sales Price of Attached Homes – $412,500
  • Median Sales Price of All Homes – $556,000

 

Halfway through 2016, residential real estate markets are performing as predicted at the beginning of the year. Sales and prices have been going up in most areas, while the number of homes for sale and total months' supply of inventory have been going down. Meanwhile, many sellers have been getting a higher percentage of their asking price, and supply continues to struggle to meet demand. The message may be repetitive, but it is largely positive.

-Closed Sales decreased 13.3 percent for Detached homes and 8.1 percent for Attached homes.

-Pending Sales decreased 1.9 percent for Detached homes and 0.4 percent for Attached homes.

-The Median Sales Price was up 7.2 percent to $650,000 for Detached homes and 7.3 percent to $412,500 for Attached homes.

-Days on Market decreased 11.4 percent for Detached homes and 20.7 percent for Attached homes.

-Supply decreased 9.1 percent for Detached homes and 34.8 percent for Attached homes.

-The national unemployment rate recently dropped 0.3 percent to 4.7 percent, but some states felt more of a pinch in their own figures.

Similarly, the low inventory situation is showing signs of strain in markets where there are few homes for purchase. With an interest rate increase still in the cards this year, combined with the American political landscape and global economic events, a cooldown could occur by winter. Presently, however, summery growth prevails as many locales are reaching near-record prices not seen in more than a decade. 

For Full Report Click Here

Information provided by: North San Diego County Association of Realtors®

*  FOR A DETAILED REPORT FOR YOUR SPECIFIC NEIGHBORHOOD OR ZIP CODE CONTACT ME: kara@bremproperties.com


Posted on July 29, 2016 at 11:21 am
Kara Brem | Posted in Uncategorized | Tagged

The Current California Market Affordability Index

The California Market through the Lens of Affordability Relatively flat housing prices and higher interest rates have slightly reduced home-buying affordability for Californians in the third quarter of 2015.

In Q3 2015, home-buyers needed to earn a minimum annual income of $98,350 to qualify for the purchase of a $487,420 statewide median-priced, existing single-family home. This reflected a slight rise from second-quarter 2015’s median home price of affordability but remained in reach for 38 percent of the population; those making an annual income of $78,840 or more.

 Viewed over a longer time frame, the affordability index appears to        have stabilized for the past three years around 30 percent, a  significant drop over the post crisis peak of the affordability index from  2012. We may be in a stable period of “30 percent affordability”,  caused by high – if flattening prices, and slightly higher rates. 

 One factor that could affect affordability is the prospect of the Federal  Reserve implementing its proposed series of graduated increases in  rates over the next two years. If the Fed increased the federal funds  rate at a slow and steady pace, California housing affordability will decline initially, but could stabilize as the state economy continues to grow and the labor market continues to improve, despite a weaker growth in China and Europe.

 


Posted on December 4, 2015 at 7:44 am
Kara Brem | Posted in Uncategorized |

How to Prepare Your Home for Colder Weather

How to Prepare Your Home for Colder Weather

 

Do you make a checklist of home maintenance and repair tasks before summer arrives? You should, and you should make a similar to-do list ahead of winter. An afternoon of maintenance in the fall can save time and money when the cold hits. Here are several areas to check and inspect before the cold arrives:

 

Gutters — Clean them out before and after the leaves fall. To make the occasional cleanup job even quicker, install gutter guards, which help prevent leaves from clogging up gutters.

 

Roof — While you have the ladder out, take a look at the roof. Check for damaged or torn shingles and replace them, or give your trusted roofer a call. Next inspect the flashing around skylights, the chimney and any roof vents. Replace bad flashing before a winter storm tests it for you. Also, screen over any gable vents to the attic. A warm, dry place is exactly what pests are looking for on a cold night.

 

Windows — After the heat of summer, the seals around windows can expand and contract, and the rubber can become brittle. Check for air leaks around your home, including around window frames. If you find gaps, re-caulk as necessary.

 

Chimney — Over time, soot and creosote can build up in chimneys, which can become dangerous. You can clean out the ashes yourself, but if you use your fireplace often, schedule a more advanced cleaning with a chimney sweep each year.

 

Furnace — Annual furnace maintenance is an important task to leave to a professional who can make sure the system is safely able to keep you warm throughout the winter. What can homeowners do? Change the air filter regularly to ensure proper and efficient airflow.

 

Detectors — Fall is a good time to replace the batteries in both smoke and carbon monoxide detectors. Use daylight saving time as a reminder, and make the battery change right after you set back the clocks in your home.

 

Yard — Fall is no time to skimp on yard maintenance. Make sure to keep the leaves raked or mulched, as leaves can hold moisture in the soil and cause a variety of lawn diseases. Fall is also the perfect time to aerate the lawn.


Posted on September 30, 2015 at 2:39 pm
Kara Brem | Posted in Uncategorized |

Don’t Lose Faith, Would-Be Home Buyers: It Will Get Better

The housing recovery is good news for the U.S. economy and homeowners, but would-be buyers may feel priced out. But fear not: Relief is on the way, according to an article posted on July 23, 2015 by Realtor.com.

It’s been a seller’s market in residential real estate for more than a year now. That’s fantastic for homeowners, and for the U.S. economy overall, but let’s get real: It creates a challenging environment for people who are trying to buy their first home. Fear not, first-time home buyers! Things are going to get better—soon.

The main reason we’ve seen above-average price appreciation is limited inventory. And that leads to bidding wars. Thankfully, higher prices ultimately help solve this problem by encouraging more owners to put their homes up for sale.

So the market is clearly shifting toward more of a balance in the second half of the year. Combined with a temporary reprieve from rising mortgage rates and slightly easier access to credit, buyers should find it easier to purchase a home in the months ahead.

Listings have grown an average of 4.5% over the past three months. New construction is also finally stepping up to relieve pressure as well, with single-family permits up 9% year to date over last year.

And prospective buyers are noticing the difference. From our daily surveys of visitors to realtor.com® who are looking to buy a home, the No. 1 reported obstacle to making a purchase in June remained “I have not yet found a home that meets my needs.” However, the percentage of respondents reporting this problem declined from 42% in January to 37% in June.

 

 

For first-time buyers, the fact that they’re “just starting to explore” became their No. 1 obstacle in June, bumping the issue of finding a suitable home for the first time this year.

Don’t get me wrong—supply is still tight. But we are moving in the right direction. We should see the median age of inventory—the number of days a house sits on the market—plateau and even increase in the months ahead as a result of supply expanding. This will be a clear sign that the market is moving toward more of a balance.

Access to credit has been holding back many potential sellers and buyers from participating in this market. That, too, is slowly changing for the better. Mortgage credit availability was 5% higher in June than in June 2014, according to data from the Mortgage Bankers Association.

Meanwhile, even though mortgage rates are now well off their lows, with the average 30-year fixed-rate firmly above 4%, rates have retreated more than 10 basis points from their recent highs. “Lock” and “float-down” are two moves to put in your dance arsenal this summer and autumn if the direction of rates is unnerving you.

Finally, the upcoming change of season should favor you first-time buyers, assuming you are flexible about timing and can find a home that fits your needs. Families with school-age children are far less likely to compete for homes on the market after the beginning of the school year, which for many is in August. While inventory levels will also be lower due to the season in most areas of the country, the fall could turn into a great time to buy.


Posted on July 27, 2015 at 10:23 am
Kara Brem | Posted in Uncategorized |

Pending Home Sales Reach Highest Mark In 9 Years!


Pending Home Sales Reach Highest Mark In 9 Years!


The National Association of Realtors (NAR) recently released their Pending Home Sales Index Report and revealed that it is at its highest level since April 2006. The Pending Home Sales Index is “a forward-looking indicator based on contract signings”. The higher the Pending Home Sales Index number, the more contracts have been signed by buyers that will soon translate to sales. Every region of the country has experienced year-over-year gains in pending sales.  

NAR’s Chief Economist, Lawrence Yun cites job creation as a major reason that the housing market has boomed this spring, going on to say,  "It's very encouraging to now see a broad based recovery with all four major regions showing solid gains from a year ago and new home sales also coming alive."  Yun went on to caution that,
"Housing affordability remains a pressing issue with home-price growth increasing around four times the pace of wages. Without meaningful gains in new and existing supply, there's no question the goalpost will move further away for many renters wanting to become homeowners."


So What Does This Mean To Buyers?

There is a lot of competition out there right now for your dream home. Prices are going to continue to climb, act now before you are priced out of your future home.


What Does This Mean to Sellers?

If you are on the fence about listing your home for sale right now and debating whether now is the time to move on with your plans of relocating… now is the time! There are more buyers that are ready, willing and able to buy their first, second, third, vacation, or investment property now than there has been in years! The supply of homes for sale is not keeping up with the demand of these buyers. Listing your home for sale now will give you the most exposure to buyers and the best sales price.


Bottom Line

Whether you are planning on buying or selling a house this year, waiting to act no longer makes sense.

 

  Posted: 30 Jun 2015 04:00 AM PDT by National Association of Realtors®


Posted on July 1, 2015 at 8:58 am
Kara Brem | Posted in Uncategorized |

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