Century 21 Award

Reprinted from the S&P CoreLogic CaseShiller Index: NEW YORK, NOVEMBER 26, 2019 - CITIES IN SUN BELT REGION LEAD IN ANNUAL (Price) GAINS: S&P Dow Jones today released the latest results for the S&P CoreLogic Case-Shiller Indices, the leading measure of U.S. home prices. Data released today for September 2019 show that home prices continue to increase at a modest rate across the U.S. More than 27 years of history are available for these data series, and can be accessed in full... by going to https://www.spindices.com YEAR-OVER-YEAR: The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported a 3.2% annual gain in September, up from 3.1% in the previous month. The 10-City Composite annual increase came in at 1.5%, no change from the previous month. The 20-City Composite posted a 2.1% year-over-year gain, up from 2.0% in the previous month. Phoenix, Charlotte and Tampa reported the highest year-over-year gains among the 20 cities. In September, Phoenix led the way with a 6.0% year-over-year price increase, followed by Charlotte with a 4.6% increase and Tampa with a 4.5% increase. Ten of the 20 cities reported greater price increases in the year ending September 2019 versus the year ending August 2019. Year-Over-Year San Diego rose 2.8% (with September rising 0.1% over August).

While bigger vacations may not necessarily be your only motivation to down-size, if it is your goal to "right-size" I can be a valuable resource in moving your plans forward. k

San Diego Housing Indicators: The California Association of Realtors' July 2019 Sales Data shows the San Diego Median home price was unchanged from July 2018, however, the same data also shows it was actually down 2.3% from June 2019. Here is an article from First Tuesday projecting further declines of housing prices in San Diego for the remainder on 2019, and also 2020 and 2021. First Tuesday projects there will not be another up cycle in San Diego Housing prices until 2...022-2023. https://journal.firsttuesday.us/san-diego-housing-indica// How does this data affect you if you are a renter contemplating becoming a First Time Home Buyer, a homeowner considering a sale today, or an Investor always looking to update and improve their investment portfolio? Whatever your immediate need may be I can help you explore the best way forward.

Price INCREASES continue to "slow"? The latest S&P CoreLogic Case-Shiller Home Price Indices report August 27th shows housing price appreciation is slowing. While the "Southwest" is generally seen as hot, San Diego is low on the list of Year-Over-Year increases at 1.3% growth; https://us.spindices.com//981359_cshomeprice-release-0827. The majority of analysts are crediting housing's pricing strength to the continued low interest rates and tight inventories. ... While the Longforecast.com is currently projecting Mortgage rates will remain low (5.09% in September 2023), and this is positive for Home Buyers, what happens in the rest of the economy will impact housing prices over the long term. The Inverted Bond Yield Curve returned to the news yesterday which as an economic indicator adds to the threat of recession over the next twelve to twenty-four months. As an investor then today, do you park your money in short or long term bonds or the stock market (equities), or do you invest in other hard assets, like Real Estate? I can recommend an outstanding Financial Adviser if you want stocks or bonds, and offer my own expertise if you're looking to invest in Real Estate.

Need help finding a (n affordable) rental in San Diego? If you didn't know, Century 21 Award has a Property Management division. Here are two links - one to a National Association of Realtors article offering information on how to find a "Good Singe-Family Rental", the other to the San Diego Housing Commission's "Affordable Housing" web page; https://magazine.realtor//what-makes-a-good-single-family-... https://www.sdhc.org/housing-opportunit/affordable-rentals/ Please know I'm here as a resource for investment and management of Income properties as well as finding you and your family a great rental property in which to live.

Update - the Fed did act to reduce the Discount rate 25 Basis points today (July 31, 2019). According to Freddie Mac this week, in an article dated July 18th, Mortgage rates head up. For many this increase is a surprise, contradicting media news surrounding the expected rate cut by the Federal Reserve when they meet July 31st. Analysts have widely predicted the Fed will cut their discount rate a quarter point at that next meeting.... Despite the increase Fannie Mae reported on, to keep this in perspective, you need to know today’s rates are still nearly three-quarters of a percentage point below where they were one year ago. Notably, however, longforecast.com is predicting over the next 48 months interest rates will rise to about 6%. What that means to you If you’re planning to sell, buy, or re-finance, is you should perform your due diligence and thoroughly research your options, but take action without delay. And if you’d like expert advice on any Real Estate matter, please don’t hesitate to ask me, or any other Real Estate Professional with whom you enjoy a working relationship. https://freddiemac.gcs-web.com//new/mortgage-rates-head-1

Lake Murray from Del Cerro

This year marks the 40th anniversary of California's Proposition 13, but how many of you know what Proposition 13 really means to the State's residents? California is he fifth largest economy in the world. Is Proposition 13 limiting funding for schools? Is it restricting infrastructure spending for roads or other more important Transit and Public Sector investment?... Do we need its protections, or is it time for reform especially in applying Prop 13's principles to Commercial property, as the reform movement proposes. Let me know your thoughts! https://www.ppic.org/publica/proposition-13-40-years-later/

Once again California Median Home Prices edged slightly higher in May. The Year-over-Year increase is small and is being weighed down by a 5.7% decline in prices in the San Francisco Bay Area. The income needed to afford a median priced home in California also increased, rising to $114,860. The Federal Reserve is signaling it may reduce the Fed Funds Discount Rate one quarter percent at the next meeting, but Mortgage rates are already low and may not move down in any signi...ficant way even if rates are cut. Ask yourself once again, if you're looking to buy, should you wait for a better time to buy, and will that come soon? If you're selling, is now still a good time to do so? To answer either question call me to discuss your specific circumstances and objectives. https://www.car.org/en/marketdata/data/countysalesactivity

This link will take you to one of my favorite articles on the direction of the economy, one which has a direct relationship to lending and real estate matters. Please, If you have any questions on what it may mean to you, as an investor, a homeowner, or simply your aspirations to be a homeowner, please call or message me. I'd be happy to help you make sense of where we are in this current cycle of the economy and what it may mean to you as a homeowner, or "would-be" homeowner; https://journal.firsttuesday.us/using-the-yield-spread-t//

California Median Price Set a New High in April 2019. The income needed to afford a median priced home in California is $110,890. If you're looking to buy, will it get better any time soon? If you're selling, is now a good time to do so? Read on!