The San Diego real estate market in the Fall 2009 continued to show early signs of recovery. The median price of houses sold in October 2009 increased 2.9% from the median price a year earlier. This was the first time since June 2006 that the median price increased over a 12-month period. The price appreciation seems nominal, but it truly represents 12 months of steady demand for homes, especially entry-level houses.

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The clock has been ticking for condo buyers who plan to use an FHA loan to fund their condo purchases.  Effective December 7, all condominium complexes will lose FHA approval.  New applications for FHA approval must be submitted.  Until new approvals are granted by the Federal Housing Administration, no new FHA loans will be available for condo purchases.

Extending the $8,000 first-time homebuyer tax credit is one government stimulus policy that makes sense. Nationwide, about twenty percent of first-time home purchases during 2009 were directly related to the tax credit. Even though real estate in San Diego is particularly expensive, the tax credit has enticed thousands of home buyers who were on the fence to commit to making a purchase. The policy is succeeding where so many other [...] Continue Reading…

I’m frequently asked about property values in Central-Coastal San Diego.  Is this is a good time to sell a home in San Diego?

Even with property values down, many sellers are finally deciding that it is a good time to sell their San Diego homes. We’ve definitely seen prices in many San Diego neighborhoods rise over the past seven to nine months, particularly for single-family detached houses priced in the “conforming” price range up [...] Continue Reading…

More experts are calling a bottom to the San Diego real estate market. On Saturday the San Diego Union Tribune featured a quarterly report by MDA DataQuick which showed price increases in 8 of 56 neighborhoods during Third Quarter 2009. The largest increase was in West Escondido (zip code 92029) where the median price of a single-family house increased to $537,000, up from $467,000 in the third quarter of 2008.

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REO’s and Short Sales In Del Mar, Carmel Valley, La Jolla, Rancho Santa Fe
There have been a lot of recent reports that the numbers of foreclosures are rising in the top tiers of the real estate market. This seems to be true in San Diego, where the number of San Diego luxury homes for sale has been increasing steadily over recent months. Banks continue to have restrictive lending standards for [...] Continue Reading…

Downward price pressure continues on San Diego luxury homes, but that is giving new home buyers opportunities that haven’t been around for years. Jumbo loan financing remains pretty tight, but qualified buyers are finding great bargains. I’ve had my eye on several homes for sale in Carmel Valley.

I notice that homes are selling quickly when the sellers decide to lower their prices. The average market time for all [...] Continue Reading…

Every year, residents of San Diego look forward to the Miramar Air Show on the first weekend of October. Nearly a quarter million people converge on the Miramar Marine Corps Air Station (MCAS Miramar) to view a well orchestrated display of aircraft acrobatics. Residents of Mira Mesa, Sorrento Valley, Clairemont [...] Continue Reading…

Los Penasquitos Canyon Preserve A Back Yard Blessing
When outdoor enthusiasts think about living in San Diego, the first things that usually come to mind are the ocean and the beaches. Not everyone realizes the extent of the recreational opportunities that are available in San Diego’s inland communities. There are lakes and parks throughout San Diego County which offer scenery, outdoor activities, or just some good old fashion peace and quiet. On [...] Continue Reading…

The San Diego Union Tribune released an article today saying that La Jolla is the most expensive housing market in the United States, for the second year in a row. La Jolla is a wonderful place to live, and homes there are expensive, but even here in San Diego there are neighborhoods that where house prices often meet or exceed the La Jolla house values. How do Del Mar homes or [...] Continue Reading…

Don’t miss the $8,000 home buyer tax credit expiring November 30!
This has been a hectic couple of weeks in San Diego. First-time home buyers are scrambling to take advantage of the first-time home buyer tax credit that is scheduled to expire on November 30, 2009. But time is getting tight. For all practical purposes, this means that anyone who wants to take advantage of the tax credit has only about a [...] Continue Reading…