California Real Estate Blog
San Diego Home Prices up 2.9%
Home prices were up 2.9 percent annually in San Diego County as of October, part of a rising tide of nationwide price increases, the S&P CoreLogic Case-Shiller Indices reported. The gain was below the national average of 3.3 percent, but it still represents a reversal of fortunes for San Diego County after months of having some of [...]
Happy New Year!
Cheers to the New Year! Have a Blissful, Awesome Magnificent, Cheerful & Rocking Year Ahead! All the Best, Gregg Watkins Watkins Realty Group
San Diego Median Home Price Hits All-Time High
San Diego County’s median home price hit an all-time high of $594,455, pushed up by declining inventory and dropping interest rates. Like much of Southern California, the county has seen sales increase as mortgage interest rates started dropping in the spring and competition heated up. The previous high in the county was $590,000 in June, according to [...]
Seasons Greetings Everyone!
Here’s to a Season filled with Warmth, Comfort and Good Cheer! Happy Holidays! All the Best, Gregg Watkins Watkins Realty Group
Fed Foresees Low Rates for 2020
After three successive interest rate cuts meant to head off a global economic slowdown and trade worries, the Federal Reserve hit the pause button at its last meeting of the year and signaled it was likely to remain on the sidelines all next year. The decision to keep the Fed’s benchmark rate at between 1.5% and 1.75% [...]
San Diego home prices, sales up in October
San Diego County’s median home price was $573,500 in October, lifted by a big increase in sales. There were 3,485 home sales, up 10.1 percent compared to the same time last year, said CoreLogic data. Experts have largely attributed the turn in the market to falling interest rates. The median price of $573,500 is an increase of [...]
San Diego’s personal income up 5.7 percent
Many San Diegans might have more money than they had at this time last year. The real per capita personal income of people in the San Diego metropolitan area increased 5.7 percent from 2017 to 2018, said data released by the U.S. Department of Commerce’s Bureau of Economic Analysis. That was higher than the nationwide increase of [...]
Public Banks can Now be Formed in California
California cities and counties will be allowed to establish public banks under a controversial bill signed into law Wednesday by Gov. Gavin Newsom, making California only the second U.S. state to allow such institutions. Public banks are intended to use public funds to let local jurisdictions provide capital at interest rates below those charged by commercial banks. [...]
San Diego Housing Panel OKs Movable Tiny Houses
San Diego officials say they plan to begin allowing movable “tiny houses” in backyards across the city, to help address the local homelessness and affordable housing crises. The tiny houses, which are similar to granny flats but smaller, can be built more quickly and cheaply than granny flats and will create a new source of low-cost housing [...]
FHA to make Financing Easier for Condo Buyers
In an effort to promote affordable and sustainable homeownership, especially among credit-worthy first-time buyers, the Federal Housing Administration (FHA) published a long-awaited final regulation, and policy implementation guidance, which establish a new condominium approval process. Designed to be flexible and responsive to market conditions, FHA's new condo rule and the new Condominium Project Approval section of the [...]
San Diego New Home Building Plummets
San Diego County had the biggest drop in homebuilding in Southern California in the first six months of 2019. The county constructed 43 percent fewer homes in the six-month period compared to the same time last year, said the Real Estate Research Council of Southern California. The slowdown comes at a time when city and state leaders [...]
San Diego Home Sales Up 10 Percent from a Year ago
San Diego County’s housing market picked up in July with sales rising 10.1 percent from a year ago as the median home price stayed flat, real estate tracker CoreLogic reported. The $580,000 median home price in July, showing no gain from the year before, was down from the all-time high of $590,000 the previous month. Even with [...]