California Real Estate Blog
Getting a Mortgage Approval Could be Easier than you Think
So what does it take to get approved for a mortgage to buy a house this summer, whether you’re a first-timer, planning to move up or downsize? Maybe not all that you think. For most people, the key requirement is that you’ve got the right package — acceptable credit score, down payment, financial reserves, debt-to-income ratio — [...]
San Diego County home price hits new record: $530,000
The San Diego County median home price hit $530,000 in May, breaking the record set last month and increasing 8.2 percent in a year, real estate tracker CoreLogic reported. Lack of homes for sale and slowed home construction appear to be major forces in new peaks set over the past few months leading into the traditional busy summer [...]
Fed Hikes Key Federal Funds Interest Rate
Federal Reserve policymakers enacted their third small hike in a key interest rate in six months, and they signaled another rate increase to come by the end of the year. The latest move was widely expected by investors and reflected the central bank’s confidence that the labor market and the broader economy were continuing to make progress. Fed [...]
Plan to Loosen Granny Flat Rules Moves Forward
The first of several new proposals aimed at solving San Diego’s affordable housing crisis took a key step forward when the Planning Commission unanimously approved loosening regulations on granny flats. Making it easier for homeowners to add a second housing unit on their property is one of the fastest and cheapest ways to increase the local supply [...]
San Diego record: $10.1 million condo for sale
A newly built penthouse condo in La Jolla with panoramic views of the Pacific Ocean is on the market for a record $10.12 million. The cost for the 3,255-square feet unit is likely the highest asking price for a condo in San Diego County history, said the Greater San Diego Association of Realtors. The most expensive ever [...]
San Diego median home price hits $515,000 in March
The he San Diego County median home price reached $515,000 in March, its highest point in a decade and a 7.7% in a year, real estate tracker CoreLogic reported. The median price had been below half a million dollars since October last year, which had some analysts surmising costs had hit an affordability wall. But, the March numbers [...]
Mortgage Rates on a Downward Trend
After a rise in mortgage rates following Donald Trump’s election victory, rates have inched back down to nearly 4%. In costly markets like Southern California, small rate changes can mean saving thousands of dollars over the life of a loan — even though rates are at historic lows. The monthly mortgage cost of a median-priced San Diego [...]
San Diego Average Rent Continues Up
The bad news for renters is rent keeps going up. The good news is the increases have slowed. Average rent reached $1,748 a month in San Diego County at the start of March, increasing 8 percent in a year, said MarketPointe Realty Advisors in a recently released report. Despite the big yearly jump, the average rent rose [...]
San Diego Home Prices Dip in February
The San Diego County median home price dropped 1 percent in February to $492,000, according to CoreLogic. Typically one of the slowest months of the year, the February median price has increased on average just 1.4 percent from January since 2000. San Diego’s median hit $507,500 in October but has been under half a million dollars since. There [...]
San Diego Home Price Increases Slow
San Diego County’s housing market in December grew more slowly than the national average, reflecting a trend of decelerating price increases since the start of 2016, said the S&P CoreLogic Case-Shiller Indices released Tuesday. The regional index of home prices, adjusted for seasonal swings, was up 5.4 percent in December compared to a year ago. It rose [...]
Home Warranty – Peace of Mind for Home Buyers and Sellers
Lots of things you buy come with a warranty in case they break down, from cars to smartphones. But what about homes? Yes, you can get a home warranty, too. So what is a home warranty? In a nutshell, it’s a policy you pay for that covers the cost of repairing many of your home appliances if [...]
San Diego Home Price Increases Outpace Nation
Prices in San Diego County’s housing market in November outpaced the rest of the nation and California, said the S&P CoreLogic Case-Shiller Indices. Adjusted for seasonal variation, the San Diego regional index of home prices was up 5.8 percent in November compared to a year ago. The nationwide increase was 5.6 percent, setting an all-time high in [...]