California Real Estate Blog
San Diego Home Prices Outpaced The Nation
California home prices outpaced the nation in July even as sales slowed, according to a recent key real estate index. San Diego County home prices rose the most in California at 7.1 percent in a year, said the S&P Case-Shiller Indices, which are adjusted for seasonal swings. Nationwide home prices increased 5.9 percent in the same period, [...]
How much can you Make on the Sale of a San Diego house?
The typical San Diego County home seller made $125,000 on the sale of their home last year, according to a recent Zillow study. The real estate website crunched the numbers on 33 metros and found the best return on investments for homes have been in Oakland, where homeowners saw a 78 percent return on what they originally [...]
SoCal Home Prices Surge in July amid Supply Shortage
Southern California home prices surged in July, as the already white-hot housing market saw heavy demand amid a persistent housing shortage. The six-county area’s median price climbed 7.7% from a year earlier to $501,000, according to CoreLogic. That was the greatest jump in nearly 2½ years and put the median just $4,000 shy of its all-time high set [...]
Beyond Deductions – How to Save on Real Estate Taxes
The mortgage interest deduction and the state and local property tax deduction are probably the best-known tax incentives for homeownership and real estate investment. That’s no surprise. Roughly 9 out of 10 home buyers borrow money to buy a home, meaning they likely pay some form of mortgage interest. And property taxes are a near-universal expense for [...]
San Diego home prices set another record: $543,500
San Diego County’s median home price hit another record in June with an imbalance of supply and demand continuing to push costs up, CoreLogic reported. The median home price reached $543,500, increasing 9.8 percent in a year and marking the third month in a row of record-breaking prices. Chris Thornberg, economist and founding partner of Beacon Economics, [...]
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 [...]