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News about our national real estate market is important but for our clients here in San Diego, it’s local news that has the most impact.

American Confidence in Housing at an All-Time High

Fannie Mae just released the July edition of their Home Purchase Sentiment Index (HPSI). The HPSI takes information regarding consumers’ confidence in the real estate market from Fannie Mae’s National Housing Survey and condenses it into a single number. Therefore, the HPSI reflects consumers’ current views and forward-looking expectations of housing market conditions. Great News! The index reached its highest level since Fannie [...]

To Build Wealth, Owning a Home Sooner than Later is Critical

According to a new Urban Institute study, homeowners who purchase their homes before the age of 35 are better prepared for retirement at age 60. The organization surveyed adults who turned 60 or 61 between 2003 and 2015 for their data set. “Today’s older adults became homeowners at a younger age than today’s young adults. Half the [...]

Did Tax Reform Kill The Luxury Home Market? Nope!

Here in San Diego, our laid-back approach to life hides the fact that many of the properties for sale in our lovely city are considered "luxury" properties. The new tax code limits the deduction of state and local property taxes, as well as income or sales taxes, to a total of $10,000. When the tax [...]

Family Wealth and Home Ownership

Over the next five years, home prices are expected to appreciate on average by 3.35% per year and to grow by 24.34% cumulatively, according to Pulsenomics’ most recent Home Price Expectation Survey. So, what does this mean for homeowners and their equity position? As an example, let’s assume a young couple purchases and closes on a $250,000 home this [...]

Why are there SO FEW homes for sale?

There is no doubt that the largest challenge in today’s housing market is a lack of housing inventory for sale. This challenge has been defined as an “overwhelming lack of supply,” and even a “straight up inventory crisis.” First American just released the results of a survey which sheds light on the reasons for the [...]

Tax Advantages = Happy Home Owners

Many Americans got some depressing news last week; either their tax return was not as large as they had hoped or, in some cases, they were told they owed additional money to either the Federal or State government or both. One way to save on taxes is to own your own home. According to the [...]

On average, over 14,767 homes sell every day. Was yours one of them?

There are some homeowners that have been waiting for months to get a price they hoped for when they originally listed their house for sale. The only thing they might want to consider is... If it hasn't sold yet, maybe it's not priced properly. After all, 14,767 houses sold yesterday, 14,767 will sell today and 14,767 will sell tomorrow. 14,767! That [...]

Don’t Get Caught in the Rental Trap!

One of our favorite benefits of homeownership is being able to protect yourself from rising rents and lock in your housing cost for the life of your mortgage. Don’t Become Trapped Jonathan Smoke, Chief Economist at realtor.com, reported on what he calls a “Rental Affordability Crisis.” He warns that, “Low rental vacancies and a lack [...]

Rents going UP! (and quickly!)

Rents are going up all over the US and at a pretty fast rate.  The infographic above makes the point quickly but it's important to realize that we rents in San Diego are higher and are increasing at a faster rate than in most areas of the US. The Union-Tribune recently reported on some research done [...]

WOW! New Home Sales Up 25.4% Last Month!

According to the latest Census Bureau Report, sales of newly constructed homes soared to new heights in June to a seasonally adjusted rate of 592,000. This marks the highest annual rate in 8 years. Trulia’s Chief Economist, Ralph McLaughlin had this to say: “New home sales jumped sharply in June, and marked the best month [...]

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