Thursday, February 27, 2020 / by Stephanie Cornacchione
Now that we’re a few months into the new year, how has San Diego’s economy fared in 2020?
First, let’s look at the Case-Shiller Home Price Index (refer to 0:32 in the video above for a visual representation), which illustrates home pricing trends over time. Prices rose sharply during the period between 2005 and 2009 (when the market crashed) and then began to stabilize in 2013, leading to a steady increase thereafter. That’s certainly reassuring, but that data itself is not the only reassuring aspect of what’s happening in our markets today.
Next, let’s look at the monthly construction starts we’ve seen (refer to 1:04 in the video above). Compared to multi-family unit construction, single-family home construction has remained relatively flat since the market crash. If we look deeper into the numbers, this tells a scarier story for San Diego’s housing.
On average, there are between 200 and 225 new single-family ! ...
Thursday, January 2, 2020 / by Stephanie Cornacchione
“It’s no secret that homes that are presented at their best sell for the highest price and in the least amount of time, and my team and I want to make sure your home achieves these same results. This is why we’ve created the “Renovate to Sell” program.”
With this program, not only do we give you an advance on the funds to renovate your property, but we oversee the contractors’ work to ensure everything is done correctly. And the best part? The money won’t be due until you close escrow, so whether it takes 30 days or 30 months, we’ll work with you to see your home sale through.
It works in three simple steps:
1. After scheduling a consultation, we’ll sit down with you and compare the benefits of selling your home as is versus using our Renovate to Sell program.
2. We’ll arrange a meeting between you and a designer who will advise you on what items you should focus your renovation effort; ...
Monday, July 15, 2019 / by Stephanie Cornacchione
It helps to assess where our San Diego market is today by looking at national real estate trends that have developed over the last three or four years, so that’s where we’ll start.
If you’ve been paying attention to trends over that period, you’ve noticed that property prices and incomes have continued to increase. On top of that, interest rates have stayed moderately low—the sub-4% range.
Late in 2018, we saw the Fed applying pressure to our markets to slightly drive rates up, which inevitably led to some changes. If prices and rates are both trending upward, something’s got to give. Housing inventory will increasingly swell and the market will slip into decline unless household incomes start to rise.
Though interest rate-related change has been felt on the national level, conditions have actually stayed relatively steady in our local San Diego market. Interest rates have improved through the first half; ...