San Diego Real Estate News & Blog (Page 160)

Recently there has been a lot of talk about home prices and if they are accelerating too quickly. As we mentioned before, in some areas of the country, seller supply (homes for sale) cannot keep up with the number of buyers who are out looking for homes, which has caused prices to rise. The great news about rising prices, however, is that according to CoreLogic’s Homeowner Equity Report, the average American household gained over $14,000 in equity over the course of the last year, largely due to home value increases. The map below was created using the same report from CoreLogic and shows the average equity gain per mortgaged homeRead More →

Every summer, families across the country decide if this will be the year they sell their current house and move into their dream home. Mortgage rates have hovered around 4% for all of 2017, forcing buyers off the fence and into the market, resulting in incredibly strong demand RIGHT NOW!! At the same time, inventory levels of homes for sale have dropped dramatically as compared to this time last year. Trulia reported that “U.S. home inventory has tumbled 8.9% over the past year and has now fallen for nine consecutive quarters.” There is now 20% less inventory than there was five years ago. Here isRead More →

Some Highlights: According to NAR’s Profile of Home Buyers & Sellers, the share of recent homebuyers who were single at the time of purchase held steady at 24% last year. The percentage of first-time buyers who were single females rose to 17% (up from 16%), as the share of single men dropped from 11% to 8%. The primary reason for buying a home amongst singles was the desire to own a home of their own (38% for women and 37% for men). Source: Housing Market & Real Estate NewsRead More →

According to the National Association of Realtors®’ 2017 National Housing Pulse Survey, 84% of Americans now believe that purchasing a home is a good financial decision. This is the highest percentage since 2007 – before the housing crisis. Those surveyed pointed out five major reasons why they believe homeownership is a good financial decision: Homeownership means the money you spend on housing goes towards building equity, rather than to a landlord Homeownership creates the opportunity to pay off a mortgage and own your home by the time you retire Homeownership is an investment opportunity that builds long-term wealth and increases net worth Homeownership means aRead More →

In today’s highly competitive real estate market, where inventory levels are not keeping up with the constant stream of buyer demand, there are steps you can take to ensure you are most prepared for success when buying a home. The 3 tips we are going to expand on today come from a recent blog by Trulia entitled, The Skinny on Skinny Inventory.  1. Be Prepared “Homebuyers should talk with a lender, real estate agent, and a home inspector BEFORE finding a home to make an offer on.” Being intentional, pre-approved, and prepared will set you up for the accelerated time tables that come with aRead More →

If you thought about selling your house this year, now more than ever may be the time to do it! The inventory of homes for sale is well below historic norms and buyer demand is skyrocketing. We were still in high school when we learned the concept of supply and demand: the best time to sell something is when supply of that item is low and demand for that item is high. That defines today’s real estate market. Lawrence Yun, Chief Economist at the National Association of Realtors, recently commented: “Buyer interest is solid, but there is just not enough supply to satisfy demand. Prospective buyers are beingRead More →