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Demand! Is What Drives Real Estate Sales in San Diego!

I got my real estate license back in 1979 while serving as an Officer in the U.S. Marine Corps at Camp Pendleton.  I have seen four cycle changes in real estate, where the market went up and then down, four times.  I am still amazed when I hear some say "Do you think the prices will go up?  If I had known that purchasing a home in 1978 would go up 35% or more over these 36 years, would it have been a good investment?  Of course it would.  San Diego is like a box, we have Camp Pendleton to our North, the ocean to our West, Mexico to our South and the Cleveland National Forest to our East.  The available land on which we have to build new homes is limited and now very scarce. Building new homes is what keeps a market healthy and affordable, but since the land to build on is so limited, we experience a natural set of circumstances for housing shortages.  This is where Demand comes into play.  We have the best weather in the world.  We are located near the beautiful Pacific ocean.  We are located close to many recreational type endeavors, skiing, surfing, golfing, hiking, etc, etc.  We can play almost year round.  We have a diversified economy now, which offers jobs and stability.  We have so many reasons to want to live here and it's not just the people in the US that know and would like to live here, it's the world that knows and wants to live here.  Oh, did I mention we have the best weather in the world?  The statistics point to home ownership as a good investment.  The way one makes a good investment is by knowing as much information as possible so that you can make a wise one.  So, let me help with some information; historically low interest rates, affordable prices, good amount of inventory to choose from, buying in a location that has world wide demand, diversified economy, tax write off, appreciation on an investment you live in, renting pays someone else's mortgage and did I mention we have the best weather in the world?  Take a moment and make it a point to find out if you can qualify to purchase a home here in San Diego.  I have reputable lenders who can start you on your way to owning the American Dream.  It's a simple, painless phone call.  DO IT NOW!

"Buyers, Now is the Time to Take Advantage of Low Interest Rates!"

Bloomberg News: Mortgage rates plunged, sending borrowing costs for 30-year loans below 4% for the first time in 16 months, as signs of a slowing global economy drove investors to the safety of government bonds.

The average rate for a 30-year fixed mortgage dropped to 3.97%, the lowest since June 2013, from 4.12% last week, Freddie Mac said in a statement today. The average 15-year rate fell to 3.18% from 3.3%, the McLean, Va.-based mortgage-finance company said.

This being said, buyers should take advantage of these low rate and get into the market now and save some money on mortgage payments.  Inventory is healthy, but dwindling, which cause prices to climb as more buyers eventually get in the game.  So, if you have been looking for a home and just haven't been able to pull the trigger, now's a good time to get off the fence.  From Daniel Team Realty

"Is it the Right Time to Buy or Sell"

Should I buy now or wait?  Should I sell now or wait?  These are the $64,000 questions ( or maybe the $164,000 due to inflation).  After a lack luster spring and summer buying season, we see that the number of home sales have decreased, the number of new listings have slowed and the prices of homes were down slightly from June to July 2014.  These are North San Diego County statistics based on the MLS Homedex Report for August 2014 (located on my website).  So if you are buying, this is a great opportunity to take advantage of the very low interest rates of 4.25% and home prices that in most cases may be soft and seller's more willing to negotiate to accommodate the sale of their home. In other words, for buyers, this is a great time to buy.  For sellers, you are facing some important decisions.  #1, why do you want to sell and is it the right time to sell?  #2, what is my home worth?  #3, what do I need to do to capitalize on my home's desirability?  I will attempt to answer each one of these questions; #1, You must answer this question yourself and in doing so, make sure you are confident in your decision.   In other words don't be half hearted or double minded.  #2, Next and almost as important as #1, find out the real value of your home, not the Zillow "Zestimate" which is most often skewed by the cost per square foot method, which does not take all factors into consideration.  Also and very important, appraisers don't use this method to put a value on your home.  They use the comparable sales method.  To help you place a value on your home check with a local Realtor, someone who has experience and some sales in your own neighborhood.  In today's market your home is most likely worth what the last home that is similar to yours sold for, especially when the sale took place within the last 3-6 months.  Now if you home has things like a view or a pool or some other special feature, your local Realtor should be able to place a realistic value on those items.  Sometimes, these items may not raise the value so much as they increase the desirability of your home to potential buyers.  So all that being said, get a local, experienced Realtor to help you with value.  #3, What do I need to do to bring the desirability level up, without breaking the bank in the process.  Here a Realtor can also help you with an objective point of view toward items in your home that could use some updating, polishing, and general maintenance to improve the overall appearance of your home and capitalize on the desirability of your home.  Most times, this can be accomplished for quite a bit less than you expect and in the process bring you back 3 to 4 times the amount of the investment to improve your home.  If you have any questions or would like a free evaluation of your home, please contact me at 760-533-8326 for a free no obligation consultation.

Ocean Hills Sellers, Get More for Your Home With a Neighborhood Agent

Most sellers want to get the highest price for their home that they can. I don’t blame them, I would too. What they ought to know is that an agent who normally sells homes in their neighborhood will most likely know the market value more than an agent from outside that community. In my own neighborhood of Ocean Hills, I see all the listings as soon as they come available in my neck of the woods. Without question the agents who do most of the sales also get their listings sold quicker and for more money. Why? Because they know the value of the properties in their market of expertise. Sure an outside agent might get the value right now and then, but most of the time listings either sell for too little, take too long and generally drag the value of the rest of our homes down in the process. An experienced neighborhood agent knows what your competition is, knows what the last house sold for and what condition it was in along with what other features it had, like a view, or a pool or other upgrades. They normally have experience with the different models in your development. They also can make suggestions on staging, or items to fix or replace. Things to do to get the most bang for your buck. Suggestions from their experience and knowledge that turn a small investment into thousands of dollars by getting you a higher sales price. Plus, if they live in the neighborhood they should have an incentive to do their best to get you the highest amount a buyer will pay because it also affects the value of their own home. Most neighborhood agents also have prospective buyers that they have in their personal data base that they know have expressed interest in that very neighborhood. Before you list with an out of area agent, do yourself a favor and at least speak to a local neighborhood agent before signing with an agent who is unfamiliar with your neighborhood. I normally will negotiate my commission to help put more in your pocket. It could make all the difference and put thousands of dollars in your pocket when it does close. My last three sales in my own neighborhood were the highest dollar amounts for that model at the time it sold. Call for a free market evaluation 760-533-8326.

New Blog

Welcome to my new blog!
-Dan