Category Archives: Real Estate News

Some relevant news about the Real Estate Market

The Real Estate Market is Like a Box of Chocolates—

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Hello and Happy Valentine’s Day!

The Real Estate Market is Like a Box of Chocolates—Valuable and in Demand

Are you thinking of buying a home or selling the one you have? It’s a great time to get into the market. The majority of Americans say that now is a good time to buy, because interest rates are low and home values are up.

This month’s information gives you the lowdown on our National real estate market. While page one offers the facts and statistics on the current state of the market, page two outlines a few predictions about home prices, sales activity and new construction and for some extra advice, click here:

Sweet Market Time!  and  Consider This

If you’re curious about the local market, I can give you the scoop! Just give me a call and I’ll be more than happy to fill you in. Feel free to pass this information along to your family and friends who are thinking of buying or selling this year.

Click here for a great off market listing, please contact me if you want more information on this amazing property: Great Opportunity

 

Want the inside scoop on the national housing market?

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The housing market is back and better than ever in many areas of the country. If you’re in the market to buy a home, you’ll find that interest rates are still at historic lows and homes are still considered affordable in most areas. If you’re thinking of selling your home, it may sell for closer to its list price and may be on the market for less time.

 

This month’s information features statistics that provide a snapshot of what’s going on in the national market. You’ll get the scoop on everything from home prices to how much inventory is available to who’s buying and selling.

To access this information click here: Buy or Sell This Year??

For additional tips see: Competing Offers

If you’re curious about how this compares to what’s going on in our local market or are curious about the value of your home, call me for more information. I’m never too busy to share my knowledge of the local market and provide you with a free market analysis of your home. Pass this information on to your family and friends to give them the scoop on the national housing market.

Have You Thought About Selling Your Home

Happy New Year!

If you’ve been tossing around the idea of putting your home on the market or buying a new home, now is a great time to do so.  For buyers this means that homes are still affordable and interest rates are low. For sellers this means that home values are increasing and lower inventory in many areas means more competition for your home.

The information this month gives you an overview of the top reasons for buying and selling now. While page one outlines three reasons to buy, page two offers three great reasons to sell. To access this information click here: Now Is The Time

As a bonus, click this link for an article on the home buying habits of different generations: Home Buying Habits

Check out my latest listing on Via Tapia, please feel free to share this information with anyone you wish to.

I’m always available to answer any questions you have about our local real estate market. If you’ve been thinking of selling your home or buying a new one, please contact me. And if you have family or friends who are thinking of buying or selling, I would love to help them as well.

Is now a good time to put your home on the market?

Potential sellers may be hesitant to put their home on the market in the winter because of the misconception that it’s not an optimal time for selling. However, regardless of the time of year there are always buyers in the market for a new home. An advantage of selling in the winter is that you can stage your home to take advantage of the indoor warmth of the season.

This month’s information offers several ideas to help you stage your home for a winter sale, such as placing a warm throw over the corner of the sofa to encourage a cozy feel and turning up the thermostat. Page two outlines of a few of the benefits of selling your home in the winter. To access these pages, please click here: How to Sell your Home this Winter

As a bonus, check out the following information for house hunting tips: House Hunting Ideas

If you’re interested in selling your home, please contact me to learn more about its value and our local market. Be sure to share this information with family or friends who may be thinking about putting their homes on the market.

From my family to yours: Have a happy and safe holiday season with your loved ones.

What Will 2013 Hold for the Housing Market?

Many people are curious about what the housing market will look like in 2013. Since housing is seen as a leading indicator of economic recovery, even people who aren’t looking to enter the market are anxious to see if this will be the year that the market fully recovers.

This month, I’m including information to help you understand the status of both the national and local housing markets. The first page offers predictions and projections for the national housing market this year. Page two provides three reasons why it’s important to pay attention to what’s going on in your local market. Although the national market can give you an idea of the overall state of housing, only the local market directly impacts you and your home.

To see the full report please click on this link:

2013 Real Estate Information

Many buyers and those wanting to refinance are curious about the Mortgage industry. I have included a little more information on that industry here:

Mortgage Information

If you want to learn more about the local market, or are thinking of buying or selling your home, contact me for more information.

And of course: … if you know of someone who would appreciate the level of service I provide, please call me with their name and business number.  I’ll be happy to follow up and take great care of them.

Have a GREAT 2013!!!

Is Now the Time to Buy or Sell?

With spring on the horizon, many people are beginning to think about selling their homes. Even those not currently considering a move are curious about the state of the American housing market.

The information I’m enclosing this month is intended to give you an overview of what’s going on in the national housing market. The statistics offered on page one provide a glimpse into current trends and predictions for the year, while page two delves into the financing choices of recent homebuyers. Feel free to share this timely information with your family or friends.

You can download the article here: The State of America’s Housing Market!

As a bonus this month, on the back of this letter are some interesting facts on what Americans are buying. That article is available here: What Americans are Buying

Please call me if you would like a market analysis of your home or more information about our local real estate market.

I amavailable at FrankAtrash@gmail.com or at 619-739-0008

Is this the time to stop renting and buy?

FACTS:

  1. Rents are increasing. This is economics 101. Supply and Demand. As families lose their homes to foreclosure, they cannot get loans and so they have to rent. Thus: Increased Demand.
  2. First time buyers are at historic highs and builders in San Diego battle regulation and shortage of land. Both of these factors limit the supply of rental homes.
  3. Thus increased demand and limited supply. Result: Rapidly rising rents. Statistics indicate that rents rose by 4-8% last year and are expected to do the same this year.
  4. Interest rates are at a 40 year low. These rates are unheard of (6-7% is a ‘normal’ rate) and they will not last forever. As the economy improves inflation will follow and so will interest rates. If you can lock in these rates now your mortgage payment will not increase for the next 30 years.
  5. Essentially the outflow of cash for housing (rent = mortgage) will remain fixed with a mortgage and will increase if you rent.
  6. Housing is having a 50% off sale. This will not last. Why? See 1 and 2 above. It does not take a rocket scientist to figure out that savvy real estate investors see this as clearly as I do. They can very quickly do the calculation and see that if they buy a home and put a renter into it, they will IMMEDIATELY make money (just a little now, but lots more later), and in less than no time have their tenant pay off their mortgage and earn all sorts of cash flow, let alone have an asset that has appreciated along with inflation (at least). Housing will not just continue to fall. The rule of arbitrage in the capitalistic market will prop up prices. Investors will fill the gap as rents increase and mortgages stay the same.
  7. The mortgage Interest Deduction (MID) makes housing even cheaper. Most people do not buy based on price but on cash flow (it is a secondary issue in my mind, important but not as much as cash flow). If you buy right, your cost of living in a home can be LESS than renting.
  8. Inflation. Historically, rents keep pace with inflation (as do the values of real estate). So while your cost of rent goes up with inflation, your mortgage actually gets cheaper! WHAT! Yes your fixed cost ‘feels’ like less because of inflation. Imagine if you could buy a gallon of milk at the same price it is now for the next 30 years (or as much as it was 30 years ago). You would buy as many as you could. THAT’s how a mortgage works. You fix the cost of housing for the next 30 years…and then it becomes FREE! What a deal.
  9. Lack of a Down Payment or Poor Credit: If you do not have either, this is no longer an excuse. The government, via the FHA loan program, is making it possible to buy homes with as little as 3% down (that’s $9,000 on a $300,000 home). And credit is not as important in most cases. You do need a job though, and I think most readers of this article have one of those.

With this backdrop I DO NOT understand why more renters are not examining the option of buying.

Allow me to do a No Cost, No obligation evaluation for you.  My lender and I will look at your situation and do a side-by-side comparison of renting vs. owning for you. Then YOU decide.

PLEASE do not let this opportunity pass you by without at least examining the possibility.  Remember you soon forget the mistakes you make but you always regret the opportunities you missed.

Contact me at FrankAtrash@gmail.com or at 619-739-0008

Housing Now More Affordable in San Diego

Courtesy California Association of Realtors (C.A.R.)
See tables below!

Lower home prices and record-low interest rates in the third quarter of 2011 contributed to an improvement in housing affordability for California home buyers, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported today.

The percentage of home buyers who could afford to purchase a median-priced, existing single-family home in California rose to 52 percent in the third quarter of 2011, up from 51 percent in second-quarter 2011 and was up from 46 percent in the third quarter of 2010, according to C.A.R.’s Traditional Housing Affordability Index (HAI).

C.A.R.’s HAI measures the percentage of all households that can afford to purchase a median-priced, single-family home in California.  C.A.R. also reports affordability indices for regions and select counties within the state.  The Index is considered the most fundamental measure of housing well-being for home buyers in the state.

“While housing affordability has improved in most areas of the state, would-be buyers, especially first-timers, are having difficulty getting loans,” said C.A.R. President Beth L. Peerce.  “When affordability is high, first-time buyers typically make up a large share of the market, such as in the mid-90s, when first-timers made up half of the market.  First-timers have made up just a third of the market this year, illustrating the hurdles many home buyers are experiencing in qualifying for a home loan.”

Home buyers needed to earn a minimum annual income of $61,530 to qualify for the purchase of a $292,120 statewide median-priced, existing single-family home in the third quarter of 2011.  The monthly payment, including taxes and insurance, would be $1,540, assuming a 20 percent down payment and an effective composite interest rate of 4.63 percent.  The effective composite interest rate in second-quarter 2011 was 4.85 percent and 4.78 percent in the third quarter of 2010.

Regionally, housing affordability rose in most counties in the San Francisco Bay Area but was down in Los Angeles County and Fresno County.  At 77 percent, San Bernardino County was the most affordable, while San Mateo County was the least affordable, with only 25 percent of households able to purchase the county’s median-priced home.

Visit http://www.car.org/marketdata/data/haitraditional/ to see C.A.R.’s historical housing affordability data.  For first-time buyer housing affordability data, visit http://www.car.org/marketdata/data/ftbhai/.

CALIFORNIA ASSOCIATION OF REALTORS® Traditional Housing Affordability Index

C.A.R. Region/County 3rd Qtr 2011 2nd Qtr 2011 3rd Qtr 2010
California single-family existing 52 51 46 r
California condo/townhome 62 60 57 r
Los Angeles Metropolitan Area 53 52 49
Inland Empire 69 69 66 r
San Francisco Bay Area 38 35 31 r
United States 67 67 64
San Francisco Bay Area
Alameda 36 35 31 r
Contra-Costa (Central County) 27 26 21
Marin 25 24 23 r
Napa 48 47 41
San Francisco 26 24 22
San Mateo 29 22 21
Santa Clara 34 32 30
Solano 75 75 71
Sonoma 46 46 40 r
Southern California
Los Angeles 42 46 38 r
Orange County 33 31 28 r
Riverside County 65 64 61 r
San Bernardino 77 77 74 r
San Diego 42 41 38 r
Ventura 45 41 40
Central Coast
Monterey 56 56 56 r
San Luis Obispo 40 37 36 r
Santa Barbara 37 35 26 r
Santa Cruz 32 32 28
Central Valley
Fresno 69 70 65 r
Kings County 76 72 64
Madera 74 72 68
Merced 74 76 75 r
Placer County 64 64 60
Sacramento 72 72 68
Tulare 73 73 68

r = revised

*   Los Angeles Metropolitan Area is a five-county region that includes Los Angeles County, Orange County, Riverside County, San Bernardino County, and Ventura County **  Inland Empire includes Riverside County and San Bernardino County ***S.F. Bay Area has been redefined to include the following counties: Alameda, Contra Costa, Marin, Napa, San Francisco, San Mateo, Santa Clara, Solano, and Sonoma

CALIFORNIA ASSOCIATION OF REALTORS® Traditional Housing Affordability Index

C.A.R. Region Housing
Arrordability Index		 Median Home Price Monthly Payment Including PITI Minimum Qualifying Income
California single-family existing 52 $292,120 $1,540 $61,530
California condo/townhome 62 $228,810 $1,200 $48,190
Los Angeles Metropolitan Area 53 $275,950 $1,450 $58,120
Inland Empire 69 $172,090 $910 $36,250
San Francisco Bay Area 38 $491,920 $2,590 $103,610
United States 67 $169,500 $890 $35,700
San Francisco Bay Area
Alameda 36 $463,030 $2,440 $97,520
Contra-Costa (Central County) 27 $610,970 $3,220 $128,680
Marin 25 $786,320 $4,140 $165,620
Napa 48 $340,150 $1,790 $71,640
San Francisco 26 $632,580 $3,330 $133,230
San Mateo 29 $703,000 $3,700 $148,070
Santa Clara 34 $587,500 $3,090 $123,740
Solano 75 $192,350 $1,010 $40,510
Sonoma 46 $342,230 $1,800 $72,080
Southern California
Los Angeles 42 $324,830 $1,710 $68,420
Orange County 33 $520,310 $2,740 $109,590
Riverside County 65 $200,970 $1,060 $42,330
San Bernardino 77 $133,290 $700 $28,070
San Diego 42 $369,800 $1,950 $77,890
Ventura 45 $420,400 $2,210 $88,540
Central Coast
Monterey 56 $265,000 $1,400 $55,810
San Luis Obispo 40 $357,710 $1,880 $75,340
Santa Barbara 37 $398,180 $2,100 $83,860
Santa Cruz 32 $490,000 $2,580 $103,200
Central Valley
Fresno 69 $142,690 $750 $30,050
Kings County 76 $130,530 $690 $27,490
Madera 74 $120,830 $640 $25,450
Merced 74 $120,210 $630 $25,320
Placer County 64 $264,980 $1,400 $55,810
Sacramento 72 $166,580 $880 $35,090
Tulare 73 $120,170 $630 $25,310

Call your Representative, with one vote they can increase the value of your home!

Facts: Courtesy California Association of Realtors (CAR). The opinions are my own!

My prediction: Homes priced below the limit (whatever that limit will be) will rise in price over time, while those above the limit will languish. Read below for details.

Senate votes to extend loan limits

Late last week, the Senate passed an amendment to an appropriation bill that
would reinstate the conforming loan limits to $729,750 through December
2013.  The Senate and House now are working out the differences between
the Senate and the House bill, which the House passed earlier this year.
C.A.R. also is working with the California Congressional Delegation to ensure
this provision is included in the final bill.

NAR worked tirelessly to keep this issue alive and collaborated with senators
to explain the negative impact the lower loan limits are having on the market.
California Sen. Dianne Feinstein played an instrumental role in ensuring the
loan limit amendment was included in the bill.

Why will this positively impact the value of your home?

It’s Economics 101. Increasing the limits will allow more buyers to buy homes in the higher price ranges using the a FHA loan of 3.5% down. More demand means higher prices.

In the final analysis that’s what dictates the prices of ALL goods, including real estate. Anything that increases demand will increase prices. So will decreasing supply. We are currently at a 5 month supply of homes, that’s below the 6 month benchmark which has traditionally marked the sign of a balanced market.

Call to discuss anytime. And please don’t forget…I am never to busy for your referrals!