Market Update | Prices & Sales Continue Rising

posted on January 6th, 2017 | filed under: Buying Strategies, Market Update, NoCo SD Market Conditions, Uncategorized

1-6-17Prices of both homes and condos were up in November.

The median price for single-family, re-sale homes and condos was higher than the year before for the fifty-fourth month in a row.

Home sales were up for the fourth month in a row and are up 1.9% year-to-date.

Inventory, or the lack thereof, is keeping prices up. In November, there were only 4,494 active home listings. The average since January 2001 is 8,660.

With NIMBYism rampant in San Diego County, witness the voting down of the Lilac Hills project, which would have built 1,746 new homes in Valley Center, the outlook for new construction is grim.

NOVEMBER SALES STATISTICS

SINGLE-FAMILY HOMES

Year-Over-Year

• Median home prices increased by 4.8% year-over-year to $549,700 from $524,750.

• The average home sales price rose by 3.8% year-over-year to $699,552 from $674,046.

• Home sales rose by 21.8% year-over-year to 1,876 from 1,540.

• Total inventory_ fell 8.5% year-over-year to 7,345 from 8,025. • Sales price vs. list price ratio rose by 0.1% year-over-year to 97.9% from 97.8%.

• The average days on market fell by 8.1% year-over-year to 41 from 45.

Read the rest of this entry »

posted by Jeff DeChamplain // Leave A Comment

Market Update | C.A.R.’s 2017 California Housing Market Forecast

posted on December 8th, 2016 | filed under: Buying Strategies, Market Update, NoCo SD Market Conditions, Uncategorized

trends-at-a-glance-nov-2016Following a dip in home sales in 2016, California’s housing market will post a nominal increase in 2017, as supply shortages and affordability constraints hamper market activity, according to the “2017 California Housing Market Forecast,” released today by the CALIFORNIA ASSOCIATION OF REALTORS ®’ (C.A.R.) .

The C.A.R. forecast sees a modest increase in existing home sales of 1.4 percent next year to reach 413,000 units, up slightly from the projected 2016 sales figure of 407,300 homes sold. Sales in 2016 also will be virtually flat at 407,300 existing, single-family home sales, compared with the 408,800 pace of homes sold in 2015.

“Next year, California’s housing market will be driven by tight housing supplies and the lowest housing affordability in six years,” said C.A.R. President Pat “Ziggy” Zicarelli. “The market will experience regional differences, with more affordable areas, such as the Inland Empire and Central Valley, outperforming the urban coastal centers, where high home prices and a limited availability of homes on the market will hamper sales. As a result, the Southern California and Central Valley regions will see moderate sales increases, while the San Francisco Bay Area will experience a decline as home buyers migrate to peripheral cities with more affordable options.”

C.A.R.’s forecast projects growth in the U.S. Gross Domestic Product of 2.2 percent in 2017, after a projected gain of 1.5 percent in 2016. With California’s nonfarm job growth at 1.6 percent, down from a projected 2.3 percent in 2016, the state’s unemployment rate will reach 5.3 percent in 2017, compared with 5.5 percent in 2016 and 6.2 percent in 2015.

The average for 30-year, fixed mortgage interest rates will rise only slightly to 4.0 percent in 2017, up from 3.6 percent in 2016, but will still remain at historically low levels.

The California median home price is forecast to increase 4.3 percent to $525,600 in 2017, following a projected 6.2 percent increase in 2016 to $503,900, representing the slowest rate of price appreciation in six years.

“With the California economy continuing to outperform the nation, the demand for housing will remain robust even with supply and affordability constraints still very much in evidence. The net result will be California’s housing market posting a modest increase in 2017,” said C.A.R. Vice President and Chief Economist Leslie Appleton-Young. “The underlying fundamentals continue to support overall home sales growth, but headwinds, such as global economic uncertainty and deteriorating housing affordability, will temper stronger sales activity.”

Read the rest of this entry »

posted by Jeff DeChamplain // Leave A Comment

SOLD for $625,000! Quiet Carmel Valley Townhome

posted on November 8th, 2016 | filed under: Uncategorized

27_8438291_79729_bpo-_79729_-127Quiet townhome in highly desirable Chateau Village. Totally updated kitchen, gorgeous granite, quiet close cherry cabinets, newer high end appliances. Lovely private back patio with brand new pavers along a quiet wooded area. Abundant natural light throughout, high windows and vaulted ceilings. Double master suites upstairs. Rear master suite overlooks woods, large soaking tub & walk in closet. BRAND NEW A/C. Easy guest parking. Walkable to Del Mar Heights shopping and movie theater. LOW Mello Roos!

Offered at $629,000 | More Info & Photos

posted by Jeff DeChamplain // Leave A Comment

Market Update | Granny Flat Restrictions Eased

posted on October 21st, 2016 | filed under: Buying Strategies, Market Update, NoCo SD Market Conditions, Uncategorized

trends-at-a-glance-oct-2016Granny Flat Restrictions Eased

Lawmakers in Sacramento have reduced the regulations on adding “granny flats”.

Granny flats, so-called because they were originally intended to house elderly parents, were beset by many local regulations that increased their cost.

The new legislation, which goes into effect in January, reduces and/or eliminates many of the restrictions put in place by local governments.

The intent of the law is to add more units to the housing stock.

The legislation says that as long as the granny flat meets current zoning guidelines, the homeowners can avoid having to get a conditional use permit.

Local agencies would be blocked from charging connection fees for the granny flats for water and sewer service. Other requirements, such as adding fire sprinklers for small accessory dwelling units even if the primary residence doesn’t need them, are eliminated under the legislation.

Anthony Andaya, president of the Pacific Southwest Association of Realtors, said granny flats allow for extra rent cash to offset the rising price of homes.

“This allows homeowners to get a little more income out of their properties, which is nice for owners to counteract some of their larger costs right now,” he said.

Lack of inventory and new home building has contributed to the recent run-up in home prices.

This is a step in the right direction, but as Steve Russell, executive director of the San Diego Housing Federations said, “It’s a modest step. Anything that contributes to housing supply is part of the solution … it’s a big drop in the bucket but it’s still just a drop in the bucket.”

Read the rest of this entry »

posted by Jeff DeChamplain // Leave A Comment

SOLD for $415,000! Coastal Carlsbad Townhome

posted on August 12th, 2016 | filed under: Uncategorized

1_8319559_76302_EA-76302-101

Coastal Carlsbad – Walk to the Beach!

Spacious townhome West of I-5 with 2 roomy master suites. Large open living area w/ balcony, dining room & wet bar, well appointed kitchen & interior laundry. Freshly painted w/ brand new carpet throughout. 1 Car attached garage w/ direct access to unit. Tropical gated community w/ pool, spa, barbecues, lush greenery, meandering waterways and tree-lined walks. Close to Everything: Carlsbad Village, Schools, Freeways, Shopping, Restaurants & Lagoon. Walk to the Beach!

Reduced! Offered at $425,000 | More Info & Photos

posted by Jeff DeChamplain // Leave A Comment

SOLD for $605,000! Golf Course Views in Lake San Marcos

posted on August 12th, 2016 | filed under: Uncategorized

10_8325139_76304_EA-76304-112SOLD for $610,000! Resort Style Living in Lake San Marcos

Beautiful Single Level Home on the 2nd hole of St. Marks Golf Course. Spacious floorplan with formal living, dining and bonus sunroom. Indoor & outdoor living is well integrated in this home, perfect for entertaining with 2 outdoor patios. Wood laminate floors, new carpet in bedrooms & freshly painted throughout with epoxy floor in garage. Buyer can enjoy access to pools, tennis courts & many other amenities with Lake & Lodge lease. Great schools, NO HOA or Mello Roos, close to all!

Seller Will Consider Offers Between $599,000-$619,000 | More Info & Photos

posted by Jeff DeChamplain // Leave A Comment

SOLD for $685,000! Cul-De-Sac Home in Gated Community of Seagate Terrace

posted on August 4th, 2016 | filed under: Uncategorized

6_8341429_77028_bpo-77028-106Welcome Home! This gorgeous cul-de-sac home is located on a .39 Acre view lot in the gated community of Seagate Terrace. Brand new culinary kitchen complete with quartz countertops, center island, custom cabinets and top-of-the-line stainless appliances. Open floor plan with new hardwood floors and convenient bedroom and full bathroom downstairs. Private backyard oasis complete with waterfall, pond, BBQ island, planting beds, canyon views, lots of open space and ocean breezes. 3-car attached garage.

Offered at $690,000 | More Info & Photos

 

posted by Jeff DeChamplain // Leave A Comment

Market Update | Scammers Posing as Your Real Estate Agent

posted on July 26th, 2016 | filed under: Buying Strategies, Market Update, NoCo SD Market Conditions, Uncategorized

trends-at-a-glance-sep-2016Scammers Posing as Your Real Estate Agent

Wanted to share with you this great article from Money Magazine.

There’s a scam afoot, or, shall we say, a-wire that prospective homebuyers may want to be on the lookout for, and it happens like this: You’re nosing around the real estate market — maybe even close to buying a house or piece of property. And then you get a message from your real estate agent urging you to wire money to secure the deal.

As you might have guessed, a scammer is spoofing your real estate agent’s account and is waiting for your money.

How a Scammer Finds Their Target

Hackers snatch passwords when people log into free Wi-Fi networks or click on things like those cute-puppy emails. They search your inbox or your real estate agent’s inbox for any messages related to real estate transactions. Once they find you’re in the process of buying a home, they’ll send a fake message from your agent or attorney, title representative (or other trusted source), alerting you to new money wiring instructions to a fraudulent account. Once your money is wired, it’s likely gone for good.

To read the full article, click on this link:

http://time.com/money/4481906/real-estate-scam/

Read the rest of this entry »

posted by Jeff DeChamplain // Leave A Comment

SOLD for $215,000! | Minutes to Oceanside Beaches

posted on July 20th, 2016 | filed under: Uncategorized

9_8324895_76303_bpo-76303-108Minutes to Beach in Gated Arbor Hill Complex! 

Recently Updated: New tub/shower in bathroom,  new carpet in bedrooms, wood laminate floors, freshly painted, LED can lighting, Granite counter tops, maple cabinets, tile floors in kitchen and bath, large patio with storage closet. Community amenities include large grassy areas, pool/spa, clubhouse, fitness center, sauna and 2 laundry rooms. Convenient location close to shops, restaurants, Sprinter and just minutes to downtown Oceanside, beaches, 78 and I-5 Freeways. Low HOA’s!

Offered at $215,000 | More Info & Photos

posted by Jeff DeChamplain // Leave A Comment

SOLD for $ 940,000 – Cul-De-Sac Home in Carmel Valley

posted on July 7th, 2016 | filed under: Uncategorized

 

1_8289595_75330_EA-75330-101_copyLocated in desirable cul-de-sac neighborhood in the heart of Carmel Valley! Elegant Watercolors collection home by Hovnanian. First time on the market “Reef” plan-one of the largest in the collection. Home features energy saving solar system, entry level bedroom/bath, vaulted ceilings, spacious yard, freshly painted exterior, 3-car garage. Enjoy all Carmel Valley has to offer: parks, community events, beaches, hiking, shopping, dining and entertaining. Award winning schools, no HOA fees & low Mello Roos!

Offered at $965,000 | More Info & Photos

 

posted by Jeff DeChamplain // Leave A Comment

Jeff DeChamplain