Copy the address below and place in your browser to be taken to NSDCAR’s complete report on housing trends, median prices etc. Very detailed and informative report.
http://www.nsdcar.com/homedex/current_homedex/2009_yearend_homedex_030910.pdf
Posts Tagged ‘Carmel Valley CA Real Estate For Sale’
2009 End Of Year North County Housing Report
Tuesday, March 9th, 2010Mixed Data Affects Rates
Friday, March 5th, 2010Economic data was the primary force driving mortgage rates this week. Generally weaker than expected data resulted in modest improvement in rates for most of the week. This was completely offset by an increase in rates on Friday due to stronger than expected Employment data, however, leaving mortgage rates nearly unchanged from last week.
Against a consensus forecast for a decline of -50K jobs, the economy lost -36K jobs in February, and the revisions from prior months showed more jobs than previously reported. The Unemployment Rate remained unchanged from January at 9.7%, which was lower than expected. The payrolls figures and the unemployment rate are calculated from two separate sets of data. The payrolls report focuses on larger companies, while the unemployment survey covers all companies. The more volatile unemployment survey surprisingly showed an increase of 308K jobs in February, indicating that smaller companies were a source of job gains.
This week’s housing data was weaker than expected. January Pending Home Sales fell 7.6%, far below the consensus forecast for a small increase. They were still 12% higher than one year ago, however. The expected surge in sales from the extended homebuyer tax credit has failed to materialize so far. The chief economist of the National Association of Realtors (NAR) suggested that unusually harsh weather “hampered shopping activity” in many regions, so a pickup in sales still may be seen as buyers take advantage of the tax credit before the April 30 deadline.
To learn more about news impacting interest rates and mortgage markets, go to www.mbsquoteline.com
Foreclosure Bargains Getting Harder to Find
Sunday, February 28th, 2010Home buyers hoping to snag a really good deal on a foreclosed home are finding it increasingly difficult because supply is shrinking. The number of foreclosures that are available for sale nationwide fell to 617,000 in December, down from 845,000 in November 2008, reports Barclays Capital.Not only have attractive homes in popular neighborhoods already been snapped up, but also government help for distressed buyers is delaying more foreclosures.
Demand is driving up prices. Investors say typical prices have climbed from 75 percent of appraised value to 85 percent or higher when there are bidding wars.
Source: The Wall Street Journal, James R. Hagerty (02/23/2010
2010: The Year of the First-Time Buyer?
Friday, February 19th, 2010According to the Chinese calendar, 2010 is the Year of the Tiger. But in real estate, 2010 may come to be known as the “Year of the First-Time Home Buyer.”Mark Zandi, chief economist at Moody’s Economy.com, says there will be 1.84 million homes sold to first-time home buyers in 2010, compared with 1.73 million in 2009.These buyers will invariably make some mistakes that they will come to regret a few years down the road, some experts say, including failing to use a real estate professional to help them manage the transaction.
Real estate professionals have the time and the knowledge to sift through thousands of listings, creating market analyses to judge pricing and other key features, points out Ray Boss Jr., a practitioner with RE/MAX Realty Group in Maryland.
“I would want someone who is going to look out for my interests first and foremost,” says Boss. “Someone who knows the contracts, who has experience negotiating, and who can walk me through the entire process smoothly — step by step — and make sure I get the house that’s right for me.”
4 Reasons to Sell Now
Sunday, February 14th, 2010Selling a property in this tough market can seem like a challenge. Here are four factors that actually make this a good time to post a For-Sale sign.
1. Sell low and buy low. Because all property values are down, the loss on the property a home owner sells is really only a paper loss because the next property he buys also will be a bargain. If he buys smartly, when prices come back up in a few years, he’ll be in better shape.
2. Down-payment help is widely available. While nothing-down loans have disappeared, it is easy to find down-payment assistance for lower-income and first-time home buyers. Programs vary all over the country, but one good way to find them is to search online for “down-payment assistance programs” and the name of your region.
3. Your uncle has money to share. Besides the $8,000 first-time home buyer tax credit and the $6,500 move-up credit, there are an array of energy tax credits that can make home improvements pay off in cash.
4. Good help is available. Really talented real estate practitioners, contractors, and designers are available and eager for business.
North San Diego County HomeDexTM January 2010 Summary Report
Thursday, February 11th, 2010January 2010 Summary Report
Single-Family Detached Home Prices
• The median price for all homes in North San Diego County – single-family detached and single-family attached – fell from $370,000 in December 2009 to $361,000 in January 2010.1
•The median-priced single-family detached (SFD) home in North San Diego County fell 3.67 percent from $436,000 in December 2009 to $420,000 in January 2010, the second month of price declines. The SFD median price in Non-North County zip codes decreased 4.53 percent from $353,000 in December 2009 to $337,000 in January 2010.
• Year-over median SFD price in North San Diego County increased 16.26 percent from $361,250 in January 2009, continuing a six-month trend of rising year-over prices. Year-over median price rose 8.7 percent in Non-North County from $310,000 in January 2009, the fourth straight month of year-over increases.
•The countywide median SFD price decreased 5.06 percent from $385,000 in December 2009 to $365,500 in January 2010, but increased 11.53 percent year- over from January 2009 for the fifth month of year-over price increases county- wide.
Single-Family Attached Home Prices
•The North San Diego County median-priced single-family attached (SFA) home fell 5.76 percent from $238,750 in December 2009 to $225,000 in January 2010, the second month of price declines. The Non-North San Diego County SFA home median price remained at $200,000 in January 2010.1
•North San Diego County SFA median prices increased 13.64 percent year-over from $198,000 in January 2009, the sixth month of year-over price increases after 24 months of year-over declines.
•The county-wide SFA home median price fell 1.86 percent from $215,000 in December 2009 to $211,000 in January 2010, and increased 11.05 percent year- over from January 2009.
•The median number of days-on-market for North County SFA homes sold rose from 33 in December 2009 to 42 in January 2010. The average number of days- on-market increased from 65 in December 2009 to 75 in January 2010.2
10 Home Features Buyers Want
Friday, February 5th, 2010Home designers and builders speaking at the recent International Builders Show in Las Vegas say that buyers are seeking cost-effective features and rejecting things that don’t have lasting value.
“It’s all about family togetherness – casual living, entertaining and flexible spaces,” says Carol Lavender, president of the Lavender Design Group in San Antonio.
Paul Cardis, CEO of Avid Ratings, which conducts an annual survey of buyer preferences, identified these must-haves in new homes:
1. Large kitchens with islands
2. Energy efficiency, including energy-efficient appliances, super insulation, and high-efficiency windows.
3. Home offices
4. Main-floor master suite
5. Outdoor living space
6. Ceiling fans
7. Soaking tub in the master suite and/or an oversize shower with a seating area
8. Stone and brick exteriors rather than stucco or vinyl
9. Community walking paths and playgrounds
10. Two-car garages, but three-car garages are even more desirable
Existing-Home Sales Down, but Prices Rise
Friday, January 29th, 2010
Existing-home sales fell as expected in December after first-time buyers rushed to complete deals during the months leading up to the original November deadline for the tax credit. However, prices rose from December 2008 and annual sales improved in 2009, according to the National Association of REALTORS®.
Existing-home sales—including single-family, townhomes, condominiums and co-ops—fell 16.7 percent to a seasonally adjusted annual rate of 5.45 million units in December from 6.54 million in November, but remain 15 percent above the 4.74 million-unit level in December 2008.
There were approximately 5,156,000 existing-home sales in 2009, which was 4.9 percent higher than the 4,913,000 transactions recorded in 2008. It was the first annual sales gain since 2005.