Laura Pentecost

REAL ESTATE MARKET UPDATE : Moderately Good News!!!!!!!! The Market & Industry: California market starting to show signs of life Last week, new listings increased in Southern California and the Central Valley. Still, new listings and pending sales remain depressed compared to pre-pandemic levels, and any recent upticks have been very modest. Consequently, sales are expected to remain weak for the next few weeks. Interest rates on Mortgages have been hovering around 3.25% , th...e lowest rates available in over a decade. Business is still getting done, with many REALTORS reporting no delays in closings according to a recent survey conducted by the National Association of REALTORS. And nationwide mortgage applications saw a 12 percent uptick last week, indicating home buyer confidence may be returning. San Diego Realtors report that new listings are struggling to keep pace with demand, prompting well-priced homes to sell very quickly. According to a recent Harris Poll, nearly a third of Americans are considering moving to a less densely populated area, this could greatly effect cities like Temecula, Fallbrook, Vista, San Marcos & Escondido .

Here is the latest news- just in case you are over the news and have shut it off ( don’t blame you) . 1% is less than the annual to the flu . -San Diego COUNTY has slightly over 3,000 positive COVID-19 cases=1/10th of 1% of San Diego =1 out of every 1,000 SD County residents have tested positive for COVID-19 -slightly over 100 people in SD County have died... -As of MAY 1st- new rule for all SD County residents MUST wear facial coverings when you get within 6’ of a non-household member. -And MOST city beaches are open for ACTIVE ACTIVITIES -(NO passive activities such as sitting or sunbathing allowed)

A good read on where real estate will be in these trying times of this economy.

Is buying sensible right now? All signs point to YES!

Tragic news . Don’t buy a house on that bluff it’s been moving for years