California Real Estate Blog
San Diego Home Price Gains Lowest in Nation
Home prices in the San Diego metropolitan area rose 1.3 percent in a year, down from 7.7 percent at the same time in 2018, said the S&P CoreLogic Case-Shiller Indices. San Diego metro prices gains were the lowest in the nation for fourth month in a row on the 20-city index. It was tied with Los Angeles [...]
San Diego Rent Cap could be on its Way
There might be a limit on how much a landlord can raise your rent if new legislation is signed by the governor. An Assembly bill from a San Francisco Democrat would stop landlords from raising rent more than 5 to 10 percent in a year. It’s not exactly the type of rent control that many activists want, [...]
Fed Holds Rates Steady, no Hikes in Coming Months
The Federal Reserve left its key interest rate unchanged and signaled that it’s unlikely to either raise or cut rates in coming months amid signs of renewed economic health but unusually low inflation. The Fed left its benchmark rate – which influences many consumer and business loans – in a range of 2.25% to 2.5%. Its low-rate [...]
San Diego Median Home Price at $549K
Home sales dropped in February for the 10th month in a row, but there were signs the market might be picking up, real estate tracker CoreLogic reported. February sales were down 8.1 percent compared to the previous year, but that was not as severe as the last few months when sales dropped 10 percent to 22 percent. [...]
Mortgage Rates Heading into Lower Territory
Spurred by the Federal Reserve's announcement that it would not raise interest rates this year and that it would start buying bonds again, the average rate on the 30-year fixed mortgage is falling. Rates are falling due to the Federal Reserve's announcement and big picture reassessments of the lack of global economic growth, as investors head back [...]
San Diego Home Sellers are Dropping Prices
San Diego County had the second-most home price reductions in the nation so far in 2019, according to research from real estate website Trulia. Price reductions are more common in the winter months, but San Diego County hasn’t seen as many cutbacks since 2014 when the market was still crawling out of the recession. Twenty percent of [...]
New Real Estate Laws Protect Renters; Strengthen Fire Insurance
California loves new laws and there are plenty of new ones for the real estate industry this year. Most of the legislation came in reaction to events in the state. New rules for balconies came after a tragedy in Berkeley that killed six students. Stronger fire insurance regulations were in reaction to destructive wildfires. Laws helping tenants [...]
Freddie Mac – Biggest year ever in Multifamily
For the second year in a row, Freddie Mac set a new record for multifamily security issuance. Freddie Mac issued $72.8 billion in multifamily securities in 2018, breaking its 2017 record of $68 billion. Debby Jenkins, head of Freddie Mac Multifamily, said “With our diverse array of securities, including our flagship K Deals, we continue pioneering efforts [...]
San Diego among Top Hot Housing Markets in 2019
San Diego will be one of the hottest housing markets in 2019, real estate website Zillow predicted. Data analysts looked at places where home values and rents were expected to outpace the rest of the country, income growth, job opportunities, and population growth. Overall, San Diego ranked 10th among national markets. 1. San Jose 2. Orlando 3. [...]
American Homeownership Tenure is Climbing
Americans are remaining in their homes longer than ever before, thus tightening the lid on housing supply. First American data indicates that homeownership tenure has risen 10% just from 2017 and has significantly climbed since the market crash of 2008. “Tenure jumped to seven years during the aftermath of the crash between 2008 and 2016, and the [...]
San Diego Home Prices Rebound as Market Slows
San Diego County home prices were up 1.1 percent in November after two months of declines, real estate tracker CoreLogic reported. The median price was $565,000 — still down $18,000 from the all-time peak reached in August — showing the market is somewhat weathering increasing mortgage interest rates and lower sales. There were 2,936 sales, down from [...]
Happy New Year 2019!
Cheers to the New Year! Wishing every day of the New Year to be filled with Health, Success and Prosperity! To accomplish Great Things, we must not only Act, but also Dream; not only Plan, but also Believe! All the Best, Gregg Watkins Watkins Realty Group