Tag Archives: Zillow

Millennials Make Up Half of US Real Estate Buyers

News from Zillow’s recent real estate study

HomeForSaleSignZillow released a study on Tuesday, revealing some of their real estate findings; including: “half of all buyers are under age 36, meaning the Millennial generation is driving more of the housing market than we previously understood.”

Another finding had to do with the hiring of real estate agents. They found that “buyers aren’t replacing the expertise of real estate agents with online research—but they are doing a tremendous amount of research online before contacting an agent. Those who start their home searches online are actually more likely to use an agent than other buyers.”

The report summarizes Zillow’s findings in a 164-page report; click here to read about all of the real estate findings in detail.

Here’s Where to Trick-or-Treat in San Diego

San Diego ranks #8 in the best cities to go trick-or-treating! But there’s also specific neighborhoods to check out in San Diego.

pumpkin1According to Zillow, there’s a specific algorithm for finding the best places to trick-or-treat on Halloween. Four variables are involved: the value of the single family residences in the area, local crime data, the closeness of each house to its neighbors, and the age of residents there.

Based on their research, apparently these are the neighborhoods to be in for Halloween night:

  1. Del Mar Heights
  2. Carmel Valley
  3. Loma Portal
  4. Carmel Mountain
  5. Mission Hills

If you’d like to read Zillow’s article, it’s available here: www.zillow.com/blog/trick-or-treat-index-2015-184961/

San Diego housing inventory down from 2013

“The number of San Diego homes listed for sale on Zillow was down 10.9 percent annually in April, according to the April Zillow Real Estate Market Reports.

housing market forecastSan Diego home values in April were up 0.5 percent from March to a Zillow Home Value Index of $453,700, which represents an increase of 12.6 percent from April 2013.

“Inventory remains tight nationwide, with the number of homes listed for sale on Zillow down 0.4 percent annually in April, even as home values fell modestly month-over-month.”

Read the rest of this article by San Diego Source here: “SD for-sale home inventory down 10.9% from 2013”

Housing Recovery Is Sustainable

“Despite a number of potentially damaging headwinds, the ongoing housing recovery will remain sustainable for the foreseeable future, analysts for Capital Economics say in a recently released report.

The housing industry’s rapid rebound took many experts by surprise-even the researchers who authored the report admit they “have been slightly taken aback” by the recovery’s speed. However, they point to several major indicators that show the current upturn is more than a temporary blip or a false recovery.

Sustained rises in demand, home prices, homebuilding activity, and new and existing-home sales all demonstrate that the market is seeing a lasting recovery, they say. They also forecast further price growth of 5 percent in each of 2013 and 2014.

What’s more, even as prices rise, valuation and affordability-“the cornerstone on which the improvement in housing is being built”-remain very favorable.

The major threats to the market at this juncture, the analysts say, are the potential for a new American recession (brought on by complications from the fiscal cliff and the potential of a partial euro-zone break-up) and the risk that properties in the shadow inventory will flood the market and drive prices down…”

This article is from DSNews.com; read the rest of it here: “Housing Recovery Is Sustainable, According to Market Analysts”.

How far underwater are San Diego borrowers?

How underwater are San Diego borrowers?

“The share of San Diego homeowners who are underwater on their mortgages has fallen but we are still higher than the national rate, based on a report released by real estate website Zillow on Thursday.

More than one-third of local borrowers owed more on their homes than their properties are worth in the second quarter (April to June,) down from 35.6 percent in the first quarter (January to March.)

The national rate also fell. The share of borrowers with negative equity was 30.9 percent in the second quarter, down from 31.4 percent in the first quarter.

Zillow’s economist Stan Humphries points to rising home prices as the reason for the drop in the underwater borrowers. San Diego home prices are at a four-year high, DataQuick numbers show.

Compared to other major cities, San Diego has a lower negative-equity rate than areas, including Las Vegas, Atlanta, Orlando, Phoenix and Riverside, areas that topped Zillow’s 30-city rankings for the second quarter.

Zillow, an online real estate information company, used loan data from TransUnion to draw its conclusions…”

Read the rest of SignOnSanDiego.com’s article here: How underwater are San Diego borrowers?”

 

Zillow Reports Home Gains in July, Predicts Market Decrease in Fall

Zillow Reports Home Gains in July, Predicts Market Decrease in Fall

Zillow: July Sees More Home Value Gains, Market to Cool in Fall

Zillow released on Tuesday its Real Estate Market Reports for July, revealing that the company’s Home Value Index hit $151,600 for the month, a 0.5 percent gain from June and a 1.2 percent increase year-over-year.

Of the metro areas covered in the reports, 62 percent saw home values climb during July, with only 49 of the 167 areas posting declines. Of the 30 largest areas covered, the Phoenix metro experienced the largest monthly increase (2.2 percent), followed by San Francisco (1.2 percent) and Denver (1.0 percent).

While rising home values may be taken as a sign of a healing market, Zillow chief economist Dr. Stan Humphries said these increases should simmer down in the coming months.

“This summer, the housing market continued to heal, as home values experienced their eighth consecutive month of increases,” Humphries said. “Tight inventory levels are leading to bidding wars and multiple offers across the country. Looking ahead, we expect to see less aggressive increases in the fall as rising values lift some would-be sellers out of negative equity, allowing them to place their homes on the market.”…

Read the rest of this article by DSNews.com online here: “Zillow: July Sees More Home Value Gains, Market to Cool in Fall”.

San Diego MLS fights for Zillow, Trulia exposure

 Agency wants agents’ info to be listed prominently on popular search sites

Article by U~T San Diego here: “San Diego MLS fights for Zillow, Trulia exposure“.  This story was updated Wednesday Feb. 8 with additional comments from a real estate syndicator and housing search sites.

Sandicor - MLSA debate over listing data continues between real estate brokers and websites like Zillow and Trulia as the San Diego region’s Multiple Listing Service seeks to control content to outside parties.

Sandicor, the county’s MLS, has added a text field to its listings that allows members to enter contact information, including names, email addresses and brokerage websites. The information, along with the usual listing data, would be disseminated by syndication websites such as ListHub and Point2, which are sources of information for popular real estate sites.

The main idea is that the contact information in the extra field would be displayed prominently for home hunters to see, nixing any confusion over the listing agent and an agent who is advertising on Trulia or Zillow.

The change, in the works since October, follows last week’s heated discussion after a San Diego brokerage cut ties with those two real estate behemoths.

“I think it will be clear to consumers if they want to contact the listing agent, they can,” Sandicor CEO Ray Ewing said. “If not, they can contact others who have ads around (the listings.) We give them the choice.”

Real estate brokers, who can opt-out of filling out the new field, also will benefit because the extra information will help drive traffic back to their websites, Ewing added.

It is believed Sandicor is the first MLS to make such a system change, Ewing said…

Want to read more about Sandicor’s latest change? Visit MLS Fights Back for Its Brokers, a blog from a real estate IT consulting firm.

Read more from this article by U~T San Diego here: “San Diego MLS fights for Zillow, Trulia exposure“. 

What do you think about this issue?  Obviously, this move to my local MLS, Sandicor, affects me–in that my listings have less visibility online.  But it does affect me on the flip side, with Zillow and Trulia not allowing my contact information to show up on my own listings.  

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