Tag Archives: San Diego Union Tribune

A 6-Month Outlook of the Real Estate Market with Value-Demographic Changes in Santee, CA

In my never ending quest to predict the real estate market like most news people, economists, and real estate agent bloggers, it is obvious that there really are no long-term accurate predictions.  A short term prediction up to 6 months is palatable, given there are no environmental disaster, economic meltdowns among financial strapped countries,  terrorist attacks, or oil refinery breakdowns that have a direct impact on Worldwide Economic Markets, who also influence in the end, interest rates in the real estate sector of the United States.  Faith that ALL is well does continue to prosper, while the doom and gloom attitudes or I might say the glass isn’t even half full attitude will always have an opinion, but somehow never does prevail in the big picture. housing market trend

With inventory lower now than ever before, the current trend in San Diego, CA real estate in particular is a continued strong upward swing in home values for the next 6 months.  Last Tuesday, June 11, 2013, DQNews and the San Diego Union Tribune Zip Code Chart lists the changes in values. In the East County, this example shows Santee, the old cowboy bustling town of years past showing a new image and strong values with desirability coming in 4th place to Alpine, Jamul, and La Mesa, beating out the rest of the East County Towns.  Santee’s resurgence of the past 5-10 years of rebuilding: restaurants, shopping, recreation and new construction is the reason why it has leap frogged its neighbors Lakeside, El Cajon, Lemon Grove and not too distant Rancho San Diego (at one time the most desirable East County area) & Spring Valley in overall Medium Price average of all home sales combined Condominium and Single Family Homes.

 In an article from the same source in DQ News: Southland May Home Sales Highest in 7 Years; Median Price Hits 5-Year High, available here: www.dqnews.com

30% of all sales are cash! That’s huge, no loan!  Also the inventory is about 4800 units in San Diego County and that’s an uptick of 7% from last month, but 22% less than a year ago. So inventory continues to be extremely tight.  Now is the time for you sellers to explore your 5-10 year life goals of where you want to be or where you will actually be in that time NOW!  The market could change after the next 6 months wishing you had.

 I am always available for any one-on-one questions, feel free to call.  Thanks for reading and cheers to you all for a fabulous kickoff to summer 2013!!

San Diego home sales best in 7 years

“SD home sales best in 7 years

November’s median was $358,000, up 13.7% from year ago

San Diego County housing prices rose 13.7 percent over the last year to $358,000 as sales soared to their best November in seven years, DataQuick reported Wednesday.

It was the highest overall price since July 2008 as the market was skidding down and close to the $357,000 posted in March 2003 as prices were rocketing up…

…Sales for November totaled 3,371, down 6.9 percent from October, a typical seasonal dropoff. But that was 22.4 percent higher than a year ago and the highest for any November since the local market peaked in November 2005. At that time, there were 4,232 sales and prices stood at an all-time median high of $517,500.

In brief, overall prices were 30.8 percent off the November 2005 peak but have risen 27.9 percent since the January 2009 low of $280,000.

For 19 southwestern Riverside County neighborhoods near the San Diego County line, the overall median stood at $243,000, up 3.6 percent from October and 10.5 percent from November 2011. The sales count was 1,139, up 12.7 percent from year-ago levels.

DataQuick attributed the increases in prices and sales to a greater demand for higher-priced homes and reduction in low-cost foreclosure properties…”

Read this article by the San Diego Union Tribune in full here: SD home sales best in 7 years”.