California Real Estate Blog
Fed continues to raise rates in Powell’s debut
Interest rates are going up. The Fed raised rates in its first meeting under Chairman Jerome Powell. The central bank's decision was a response to a sunnier economic outlook, very low unemployment and rising wages. "The economic outlook has strengthened in recent months," the Fed said in a statement following its two-day Federal Open Market Committee meeting. [...]
San Diego sees First Home Sale over $20 million in 10 Years
A Del Mar estate built for activist investor David Batchelder has sold for $21.5 million, making it the most paid for a home in San Diego County in more than a decade. Set on a bluff overlooking the ocean, the Mediterranean-style estate originally came to market last year at $29 million and more recently was listed for $24.5 [...]
Amazon Expands in San Diego, Moving into University City
E-commerce giant Amazon is boosting its footprint in San Diego - leasing office space in University City with room for more than 500 employees. The Seattle-based online retailer confirmed that it has signed a lease in the Campus Pointe office park. Amazon is taking nearly 107,000 square feet at 10300 Campus Point Drive. While Amazon has a small [...]
City Selling $1 lots – The Future of Affordable Housing?
The cities of San Diego and Lemon Grove are poised to sell lots for $1 each to a nonprofit land trust that will build houses reserved for middle-class families. Maximum prices, for new 3-4 bedroom houses, will be $350,000. One project is 16 lots on vacant land in Nestor, near a trolley line and the Mexican border. [...]
Yellen Ends Tenure – Paving the Way for Next Rate Hike
Federal Reserve officials, meeting for the last time with Janet Yellen as their chief, left borrowing costs unchanged while adding emphasis to their plan for more rate hikes, setting the stage for an increase in March under her successor Jerome Powell. "The committee expects that economic conditions will evolve in a manner that will warrant further gradual [...]
San Diego Most Expensive Homes in 2017
La Jolla and Rancho Santa Fe continued to be the place for the most expensive home sales in San Diego County in 2017. The most expensive house to sell in the county was a beachfront property in La Jolla for $12 million. Built in 1993, 6106 Camino de la Costa (pictured above) features panoramic ocean views and its [...]
San Diego Home Median Reaches $540K
The San Diego County housing market is positioned to finish 2017 with near-record prices. The county median home price has increased 9.1 percent in a year November’s median price of $540,000 was the second-highest of the year Real estate agents say buyers are paying more as inventory stays low San Diego County housing prices: Here’s the full [...]
U.S. Home Prices Surge, Outpacing Wage Growth
U.S. home prices climbed a robust 6.2% year-over-year, amid strong demand from would-be buyers and a shrinking supply of properties for sale. Standard & Poor's said that for October, its S&P CoreLogic Case-Shiller national home price index stood a solid 6% above its previous 2006 peak. Prices are rising at more than double the pace of wage [...]
Local Home Price Increases among Highest in Nation
San Diego was among the top three cities in the U.S. with the biggest annual home price increases in September, said a key real estate index just released. The region’s home prices have risen 8.2 percent in a year, said the S&P Case-Shiller Indices. Only Seattle and Las Vegas had bigger increases in the 20-city index. San [...]
U.S. Home Construction Climbs Higher, but Falls in the West
Construction of new homes in the United States climbed 13.7% in October, the biggest jump in a year, as builders broke ground on more apartments and single-family houses. But the increase wasn’t spread nationwide: Construction declined in the West. The Commerce Department said that the monthly gain put U.S. housing starts at a seasonally adjusted annual rate of [...]
Forecast: CA Home Prices will Continue to Rise in 2018
Home prices in California will continue to increase next year, but at a slower pace, according to a forecast released by the California Association of Realtors. The median price of a home is expected to rise 4.2 percent in 2018 to $561,000, less than the expected 7.2 percent increase this year. While the forecast from the Realtor [...]
The 5 Best Things to Do When You Move into Your New Home
Moving into your dream home can be a daunting task. Between unpacking, cleaning, and trying to find that stray roll of toilet paper, it may feel like you’ve lost your mind in a sea of Bubble Wrap. But there are five simple things that you should do during the first month in your new home that will [...]