SanDiego's Real Estate Information

Quick Update for December: Rates continue to be historical low and this is how it's impacting San Diego. 1. Home owners have been taking advantage of the rates by refinancing and getting lower rates sometimes with shorter terms and smaller monthly payments. 2. New Home buyer's entering the market despite low inventories 3. Escrow Companies have been very busy helping home owners and new buyers with their transactions, December is usually a slow month but this month has star...ted strong. 4. Title Company is reporting the Recorders Office are overwhelmed with transactions they have to limit the amount of transactions they receive. The Recorders Office will go from two recording periods a day down to one just like Riverside and Orange County have. What does this mean? means all paper work and monies have to be ready to the Recorders Office before 2:30PM, anything received after would be delayed and recorded the following day therefore delaying close of escrow. If you are scheduled to close on a Friday and the request to close is submitted after 2:30PM this means the transaction might not be able to close until Monday which may result in more fees. Something to keep in mind. 5. Real Estate Experts are anticipating rates to go up once Covid Vaccine is approved, rates have been creeping up slowly this month according to loan officers. Please let me know if you are in the market to buy or sell real estate, I would love to help and have my team ready. Please send me a message if you like this post or would want more information on anything. Look forward to helping you out.

Happy Voting Everyone!! Regardless of which party you voted for, today is special. The whole world is tuned in to find out who the American People want in office. All our votes count I am happy for you and everyone else who exercised their right to vote. God Bless America!

Congratulations to my brother Victor and sister in-law Belinda on selling their home. Beautiful home, first owners with a lot of beautiful upgrades and finishes, but it was time to upgrade for a pool house, stay tune to see what they buy next

So, the misses and I have been walking on the beach late at night and the misses tells me she would like to own a house right on the beach...we must have walked at least a dozen time by this one... hahah this one is a way over my budget by a few million, but I can def represent the buyers for this one.. Let me know what you guys think and also if you know someone who may be interested on a beach house, it would be my pleasure helping.. eventually I will be able to afford one :) check it out, give it a like and drop me a comment..

Healthy buyer demand and constrained supply continue to be the story for much of the country. Nationally, showing activity in July remained substantially higher than a year before and multiple offer situations are a frequent experience in many markets. With the inventory of homes for sale still constrained, a competitive market for buyers shows little sign of waning. Closed Sales increased 3.3 percent for Detached homes and 4.5 percent for Attached homes. Pending Sales incre...ased 21.4 percent for Detached homes and 26.7 percent for Attached homes. Inventory decreased 51.8 percent for Detached homes and 28.9 percent for Attached homes. The Median Sales Price was up 11.5 percent to $730,000 for Detached homes and 7.4 percent to $467,000 for Attached homes. Days on Market decreased 3.4 percent for Detached homes and 3.7 percent for Attached homes. Supply decreased 53.6 percent for Detached homes and 32.0 percent for Attached homes. While the number of unemployment insurance weekly initial claims have been far lower in recent weeks than their peak in March and April, more than 1 million new claims are still being filed each week and more 31 million were claiming benefits in all programs as of early July, compared to fewer than 2 million in July 2019. Despite this significant economic impact, home buyers remain extremely resilient. With mortgage rates remaining near record-low levels and home purchase mortgage applications up from a year ago, high buyer activity is expected to continue into the late summer and early fall market. See more

But that feeling has a location. Let’s find where your home feeling is! What makes a place a home for you? Rates continue to be very low hence giving buyers more buying power stretching what the dollar can buy. I have an outstanding Loan Officer in my team ready to start you up. Don't forget to give it a like or drop me a comment. Art by Gregory Darroll.