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Don’t get lost in the shuffle with larger corporate companies. We can offer the same and better service to our clients with a personal touch.
So call us today and see what everyone else is talking about! The advantage team experience.
Sincerely,
Reed Colwick, Broker
Advantage Team Real Estate & Property Management
Sold listings slide from last month; median prices continue to waver.
(SAN DIEGO, Calif. – February 8, 2012) The San Diego Association of REALTORS® (SDAR) released
the January 2011 housing statistics through the Sandicor, Inc. Multiple Listing Service (MLS).
Although January sales of existing properties dropped significantly from December’s year-end numbers,
single-family (detached) properties were up almost 15 percent from a year ago. Condos and townhomes
(attached properties), however, saw a decrease of over 10 percent from a year ago.
Median prices for both single-family homes and condos continue to waver slightly up and down.
December single-family homes prices decreased by 1.7 percent compared to last month and down by 5.4
percent from January of last year. But in good news, detached homes saw an increase in median prices of
2.4 compared to last month, and an increase of 5 percent compared to a year ago.
“January 2012 residential housing statistics reflect an encouraging increase of 14.7 percent for detached
single-family total sold listings compared to last year,” shared 2012 SDAR President Donna Sanfilippo. “In
addition, median home prices are stable and reflect a slight decrease for both detached and attached listings
sold year-over-year.”
Highlights of the latest housing statistics include:
Total Sold Listings Comparing January 2012 to December 2011
Detached: 25.5 percent decrease
January 2012 = 1,358 December 2011 = 1,822
Attached: 27.0 percent decrease
January 2012 = 626 December 2011 = 858
Total Sold Listings Comparing January 2012 to January 2011
Detached: 14.7 percent increase
January 2012 = 1,358 January 2011 = 1,184
Attached: 10.4 percent decrease
January 2012 = 626 January 2011 = 899
Median Sales Price Comparing January 2012 to December 2011
Detached: 1.7 percent decrease
January 2012 = $349,000 December 2011 = $355,000
Attached: 2.4 percent increase
January 2012 = $210,000 December 2011 = $205,000
Median Sales Price Comparing January 2012 to January 2011
Detached: 5.4 percent decrease
January 2012 = $349,000 January 2011 = $368,750
Attached: 5.0 percent increase
January 2012 = $210,000 January 2011 = $200,000
As you can see the market is still in a state of recovery. With low prices fueling the market it is a great time buy. Contact Advantage Team Real Estate for a customized market analysis of your property. If you are looking to buy we can help there too.
If you could find your dream San Diego home in a down real estate market what would you do?
Imagine you are driving around one Saturday afternoon just after leaving your favorite place to eat lunch in your San Diego neighborhood when you stop in at an Open House you saw on my San Diego real estate website. You are in awe as you tour the home because it meets every item on your ‘dream home checklist’ that you have dreamt of, but never thought you could afford.
Next, you do what any reasonable person would do and ask what the price is. You ask the agent to repeat herself because you remember homes selling for much more in this neighborhood than the price she just quoted you. As you drive away, you do some simple math and realize you can afford this home. You are about to share your excitement with your spouse when they quickly say, “Too bad the market keeps going down.” What do you do?
Stop and think about the following list of San Diego real estate market pros and cons.
The main pros would be:
1. This is your dream home and your quality of life will immediately improve.
2. You know how difficult and lengthy it can be to find your dream home – just check the tons of inventory at my Carlsbad real estate website and that hurdle is no longer there.
3. You can afford this home and are not taking on a financial risk.
4. Interest rates are still low and you can get a great rate.
The main cons would be:
1. The market is still possibly going down and your new home might depreciate in the short term
2. San Diego interest rates might go even lower.
3. If you currently own a property, you might have difficulty selling it.
Let’s dissolve the interest rate con quickly. If rates head further south then you can simply refinance. There is no interest rate hurdle here. Regarding having to sell your current property if you own one, of course your home might be worth less than it was at the market peak in late 2005. If you price it on day one attractively, instead of with unrealistic hopes, it should sell in a reasonable period. And you have already done the math and concluded you can afford the payments on the new home anyhow.
So the biggest hurdle left is that the new home might depreciate. It turns out this is not a hurdle either as long as you plan on living in your dream home for many years. This will allow you to ride out the current market cycle and begin appreciating again.
So, what if you find your dream home in a down market? I suggest you make your dream come true.
Call Advantage Team Real Estate Today! Start living the dream.
After reaching a 19-month high, pending home sales eased in December but stayed above year-ago levels, according to the National Association of Realtors®.
The Pending Home Sales Index,* a forward-looking indicator based [click to read more…]
This large top floor end unit is perfectly located between the convenience of the Bird Rock strip and the Village of La Jolla. And being just a few blocks from Wind and Sea makes for a short bike ride to some of the areas best beaches. A large open living space connecting to a private covered balcony gives you beautiful hillside views from the living room sofa or the patio lounge. The kitchen is bright and nicely equipped with new stainless appliances and tiled counter tops. And the master size bedroom is both bright and accommodating with two closets areas and a hillside facing window. Other features include plenty of interior closet space, new carpet, new fixtures throughout, assigned parking and many community amenities.
Are you feeling a bit like this guy? Are you trying to figure out if hiring a property management firm is right for you?
While every investors situation is different, there are certain scenarios and factors that determine if you need a property management firm or not. The following questions are designed to help you determine if you should consider hiring a property manager.
As you may know there has been a lot of changes regarding FHA guidelines. One such issue is the recertification of condominiums for FHA financing. [click to read more…]
Did you know there are differences between these two that could potentially make one un-financeable in today’s economy? First, what is a PUD? [click to read more…]
