Tag Archives: San Diego Realtor

Money Monday: Americans are paying more than they can afford for housing

Rising housing costs are putting a major squeeze on Americans.

“Nearly 39 million households can’t afford their housing, according to the annual State of the Nation’s Housing Report from Harvard’s Joint Center for Housing Studies.

“Experts generally advise budgeting about 30% of monthly income for rent or mortgage costs.

“But millions of Americans are far exceeding that guideline.

“One-third of households in 2015 were “cost burdened,” meaning they spend 30% or more of their incomes to cover housing costs.”

Read more of Money.CNN.com’s article here: “39 million households are paying more for housing than they can afford.”

 

All About the Current California Real Estate Market

Interested in what the real estate market in California is doing?

The CALIFORNIA ASSOCIATION OF REALTORS recently released a few pieces of information on the California housing market. Take a look at their infographics and details here:

Housing affordability went up to 32% in the 1st Quarter of 2017. This means that 32% of California households can afford to buy a median-priced home.


The average price for homes that are selling in California is $478,000. And in April of this year, 401,000 houses sold.


 


Want to chat more about the California real estate, specific buying or selling needs, or other real estate questions? Give me a call! 

John A Silva | (619) 890-3648

Money Monday: Increase your credit score

Quick ways to up your credit score.

“Most people don’t put much thought into their credit scores until the time comes to apply for a loan. If you expect to need financing in the next few months and aren’t convinced your credit score is high enough to get you approved, you’ll need to act quickly to improve your chances. Thankfully, there are several things you can do to boost your credit score in record time.” (“4 tips to increase your credit score fast.” Maurie Backman. 8 May 2017. http://money.cnn.com/2017/05/08/pf/credit-score-tips/index.html?iid=Lead)

One way to increase your credit score? Ask for an increase in your credit limit. But read CNN’s article for more tips! 

Read all of CNN’s article on increasing your credit score here: “4 tips to increase your credit score fast.”

Call Me for Residential Real Estate!

Now that an exciting high school, college and NFL season is upon us, residential real estate has been even more exciting this year! Sellers and buyers are reaping the profits of sales and benefits of purchasing NOW with interest rates still near historic lows.

football-field

It’s time — and your turn to get in the game and score your touchdown today! Don’t be left on the sidelines; call me now!

If you know someone looking to sell or buy, rest assured you know that they’re with the #1 Team!

Exposure is the Name of the Game

Exposure is the key to selling your home fast and getting top dollar.

selling your home

With good exposure your home will be viewed by more people, thereby increasing the chances of an offer on your home. If you are looking to sell your home quickly then it is definitely in your interest to contact a REALTOR®, as it is unlikely that you will be able to generate as much exposure as an experienced professional.

Why is it that a REALTOR® is able to generate so much more exposure than the average homeowner? Part of the explanation can be found in the fact that most REALTORS® have marketing plans that consist of print ads, an online presence, and a network of clients interested in real estate. A second reason is that for many REALTORS® this is a full time job and they are willing to put all their experience and time to the sale of your home. The final reason is that the REALTOR® has access to the Multiple Listing Service (MLS) and through this is able to network with every agent in your market area. As soon as you list your home with a REALTOR® this information is disseminated to all agents in the market, who are then able to match it to buyers that they are working with; maximizing your exposure and minimizing the time it takes to sell your home.

Money Monday: Renters are increasingly paying more for less

“New apartments hitting the rental market in 2016 are 8% smaller than they were 10 years ago, according to a recent report from online rental marketplace RentCafe.

for rent

“Meanwhile, rents for all apartments on the market have risen 7% in the last five years.

“This year, the average square footage of all new apartments, including studios, one-bedroom and two-bedroom apartments, was 934 square feet. Just a decade ago, the new units coming online offered an average of 1,015 square feet.

“The national average for rent this year is $1,296 compared to $977 in 2011…”

Read more from CNN here, or read the quoted report from RentCafe here.

If you’re thinking of buying a home instead of renting (especially after reading about this), then please contact me to see how I can help! 

Contact me!

John A Silva | (619) 890-3648 | Email

Just Listed: 5320 Caminito Cachorro, San Diego

Rare find in gated community of Oak Park

5320 Caminito Cachorro, San Diego, CA 92105

5320 Caminito Cachorro, San Diego, CA 92105 | real estate listing by John A Silva, San Diego Realtor

 

 

Offered at $345,000 – $369,876 | View the virtual tour

RARE FIND in the gated community of Oak Park, with views!! Ready as a rental or primary residence! Perfect for college students!! SUPER serene, relaxing, green canyon view from back yard and bedroom windows!! New roof from one year ago! 3-bedroom, 2.5-bath, with fireplace, 2-car garage and private fenced patio makes this a GREAT BUY!! SEE THIS ONE NOW!! VRM*Seller Will Entertain Offers Between $345,000 & $369,876. See the MLS listing here.

View more details here.

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Contact me today for more information or to view this home!

John A Silva | (619) 890-3648 | Email

California Home Sales Increased in February

California home sales gain steam in February as shift toward more
affordable areas tempers home prices

Source: C.A.R.

urban real estate prices, most live in suburbsModerating home price appreciation and improving housing inventory combined to spur California’s housing market in February as existing home sales increased from both the previous month and year, according to the CALIFORNIA ASSOCIATION OF REALTORS®.

Making sense of the story

  • Existing, single-family home sales totaled 393,360 in February on a seasonally adjusted
    annualized rate, up 2.6 percent from January and 6.4 percent above February 2015.
  • February’s statewide median home price was $446,460, down 4.7 percent from January and up 3.8 percent from February 2015.
  • Statewide sales of condos and townhomes rose 2.6 percent from January and 6.4 percent from February a year ago.
  • The February figure was up 2.6 percent from the revised 383,480 level in January and up 6.4
    percent compared with home sales in February 2015 of a revised 369,630. February’s sales level was below the 400,000 level for the second straight month.
  • C.A.R. President Pat “Ziggy” Zicarelli commented, “Market activity continues to be dampened
    by low housing inventory as baby boomers stay in their homes longer and new home
    construction, while improving, falls below needed supplies.”
  • The number of active listings increased for the second consecutive month after declining for five straight months. Active listings increased 4.1 percent from January on a statewide basis.
  • The median number of days it took to sell a single-family home declined in February to 41.6
    days, compared with 44.5 days in January and 44.1 days in February 2015.

Read the full story: http://www.car.org/newsstand/newsreleases/2016releases/february2016sales