Market Update | Prices Slip, Still Up Year-Over-Year

posted on September 13th, 2017 | filed under: Buying Strategies, Market Update, NoCo SD Market Conditions, Uncategorized

After reaching an all-time record high in July at $610,000, the median price for single-family, resale homes in San Diego County drifted downwards in August.

Nevertheless, the median price was up 9% year-over-year. That’s sixty-three months in a row the median price has been higher than the year before.

The median price for condominiums also slipped the past two months after reaching a new all-time high in June. And, as with single-family, homes, the median price was up 6.7% year-over-year, again, that’s sixty-three months it has been higher than the year before.

Home sales, meanwhile, were down 4.5% from last August. Year-to-date, home sales are off 4.3%. Condo sales were down 9.3% but are up 5.2% year-to-date. Read the rest of this entry »

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SOLD for $550,000! La Jolla Townhome

posted on July 31st, 2017 | filed under: Uncategorized

Best Location in Complex! Upgraded townhome on quiet, tree lined greenbelt with wood floors, light and bright kitchen, fireplace. Bathrooms have slab granite, new toilets, fixtures and lighting. Spacious and private balcony, perfect for entertaining. Master suite with vaulted ceilings and two balconies. 2 car garage with direct access and laundry area. Fantastic LA Jolla/UTC location close to schools, shopping & dining. Short walk to community Pool/Spa, Lit Tennis Courts & Clubhouse.

Offered at $550,000  |  More Photos & Info

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JUST LISTED! Ocean & Lagoon Views, Carlsbad

posted on June 6th, 2017 | filed under: Uncategorized

Tranquil Carlsbad beach home w/ forever ocean & lagoon views. Enjoy lovely sunsets from this beautiful Llewellyn Shores condo. Featuring elevated ceilings, bright upgraded kitchen w/ granite & stainless appliances, freshly painted, new carpet in hallway & bedrooms, all new windows & recessed lighting throughout. Spacious stepdown master has a cozy fireplace and opens onto a large balcony to sit & watch the waves roll in. Quick & easy beach access, close to Carlsbad Village Shops, dining & commuter rail.

Offered at $1,050,000-$1,100,000  |  Property Website

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SOLD for $602,000! Rural Vista At It’s Finest

posted on June 6th, 2017 | filed under: Uncategorized

Updated entertainers home on .39 Acre Lot. Incredibly spacious & versatile floor plan with entry level bedroom & bathroom. Updates include: Solar Heating (paid off by seller at COE) Brand new kitchen, 2 New Bathrooms, New Master Suite with private entrance, New tankless water heater and Heating/AC units. Engineered wood flooring, brand new carpet, new windows, can lighting and freshly painted throughout. Swimming pool comes complete w/ outdoor bathroom/shower & poolside rec room.

Now Offered at $599,000-$629,000  | Property Website

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SOLD for $425,000 – California Ranch Style Home | San Diego Country Estates

posted on June 6th, 2017 | filed under: Uncategorized

California ranch-style home on .62 Acres in San Diego Country Estates. Great open layout, vaulted ceilings, spacious kitchen opens to living room, bonus family room & formal dining. Master suite opens to a serene patio. Room for one horse. New Heat/AC. Enjoy mountain views & resort-like community amenities: 2 pools, tennis courts, 2 parks, BBQ, picnic area, access to hiking trails, 2 Equestrian centers w/ riding trails. Neighborhood has 2 elementary schools & bus service to the high school.

 

Offered at $399,000 – $429,000

Virtual Tour

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Your Market Update | Median Home Price Nearing Record High

posted on May 18th, 2017 | filed under: Uncategorized

The median price for single-family, re-sale homes in San Diego County approached the record high of $585,000 set in November 2005 in April. The median price is now only 3% from setting a new record.

The median price for condominiums set a new record high in March.

Home and condo sales were both lower in April compared to the year before.

Properties are being sold quickly. Average Days on Market, which calculates the time from when a property first goes on the market to when it enters escrow, effectively taking it off the market, was thirty-three days for homes compared to an average of fifty-seven days since January 2001.

Days of Inventory is just under two months at fifty-eight days. The average is one-hundred and forty-two. NUGGETS Below are links to some real estate articles we thought might be useful, or at least informative for you.

A BUYERS’ AND SELLERS’ GUIDE TO MULTIPLE OFFER NEGOTIATIONS: FROM THE NATIONAL ASSOCIATION OF REALTORS®

This white paper from the NAR’s includes tips for both buyers and sellers.

THE ADVANTAGES OF OWNING REAL ESTATE IN A SINGLE-MEMBER LLC: FROM MARKETWATCH Tax simplicity + liability protection

Single-member limited liability companies (SMLLCs) are limited liability companies (LLCs) with only one member (owner). As with a corporation, operating a business or investment activity as an LLC generally protects your personal assets from exposure to liabilities related to the activity — under applicable state law. However, SMLLCs offer some unique tax attributes that make them ideal real estate ownership vehicles. Here’s the story on their advantages.

Read the rest of this entry »

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SOLD for $530,000! Sea Mesa, Oceanside

posted on April 27th, 2017 | filed under: Uncategorized

Property Website

Charming Sea Mesa home with huge vaulted ceilings, exposed beams and high end vinyl floors in the expansive great room. Open kitchen with updated tile flooring leads to family room with wet bar. Spacious master suite has vaulted ceilings and updated bath. Newer dual pane windows. Large private lot in quiet location with RV/Boat parking and just minutes to Oceanside beaches. The Sea Mesa neighborhood has lovely ocean breezes, mountain views and no HOA or Mello-Roos. Close to Buddy Todd Park, EZ access to freeways, shopping & dining.

PENDING| Now Offered at $535,000

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Thank You For Joining Us At The Belching Beaver Brewery!

posted on April 21st, 2017 | filed under: Uncategorized

A BIG Thank You to everyone that came out and enjoyed Happy Hour with us at the Belching Beaver Brewery on March 14th.

We had so much fun and truly enjoyed having the opportunity to share some laughs with everyone. We are so blessed to have such a wonderful community of friends and clients.

Here is a fun video of the event. Enjoy!

Photo Gallery

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Market Update | Real Estate’s New Normal

posted on April 18th, 2017 | filed under: Buying Strategies, Market Update, NoCo SD Market Conditions, Uncategorized

Once upon a time, in a market far, far away, the National Association of REALTORS® decreed that six months of inventory indicated a “balanced” market. This was for the national market. In regional markets, your mileage would vary.

In San Diego, our mileage varied. A “balanced” market here was one-hundred and forty-two days of inventory from January 2000 through December 2006. That was a period of normalcy for the county.

Those days are long gone. During the Great Recession of 2007 through 2011, inventory levels spiked as sales plummeted and foreclosures jumped. Days of Inventory then averaged two-hundred and eleven.

Beginning in 2012, sales rose to normal levels, but inventory went down the drain.

There are three main reasons for the lack of inventory over the past five years, all of which seem intractable.

First, baby boomers aren’t moving. According to an AARP survey, 87% of baby boomers over the age of 65 want to stay in their homes. The main reason is to be near family and friends. Another reason is to avoid excess capital taxes. Selling a principal residence allows for either a $250K shield if single, or a $500K shield if married. Any gains over those amounts are taxed as capital gains. There are some ways around this, most of which involve setting up trusts. That is something you would need to discuss with your tax attorney and/or accountant.

Second, a significant number of the homes that were foreclosed on were bought by hedge funds and big private-equity groups who bought in bulk from the banks. Then, rather than flipping the homes, they rented them out to the families who had been foreclosed upon.

Frank Nothaft an economist with Corelogic, says in 2006 there were nine million single family houses in in the rental stock.  That number increased by three million in the following seven years, he said. Read the rest of this entry »

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Market Update | Condo Prices Set New Highs in February

posted on March 21st, 2017 | filed under: Buying Strategies, Market Update, NoCo SD Market Conditions, Uncategorized

Both the median and average prices for condos set new all-time highs in February. It was also the fifty-seventh month in a row the median price has been higher than the year before. The median price for single-family, re-sale homes was higher, year-over-year, for the fifty-seventh month in a row. Home sales eked out 0.5% gain compared to last February. Condo sales, on the other hand, were just over one-third the monthly average since January 2001. The inventory of actively listed single-family, re-sales homes in San Diego County continues to define the market. There were 3,587 homes for sale as of March 10th. The average number of homes for sale each month since January 2001 is almost 8,582. Days of Inventory, or how long it would take to sell all the homes on the market at the current rate of sales is sixty days. The average in San Diego County 146 days.

The sales price to list price ratio jumped to its highest level since last July: 98.2%.

New Housing Law for Teachers as we wrote about several months ago, the inability of people who serve the community to afford to live here has a deleterious effect on the community. Last fall, Governor Brown signed the “Teacher Housing Act of 2016” to make it easier for school districts to provide affordable housing for their employees. Authored by Mark Leno, the former Democratic state senator from San Francisco, the law gives districts explicit permission to set aside housing exclusively for its employees and, crucially, to take advantage of state and federal tax credits to develop these projects. Under prior law, projects that make use of these low-income housing subsidies had to be open to all tenants who met the income guidelines, to prevent public funds from subsidizing housing discrimination. The new law makes an exception for teachers and district employees.

Read the rest of this entry »

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