Are rising prices making homes sell faster?

The short answer seems to be YES! As crazy as it sounds, prices keep on rising in many communities throughout San Diego, which is creating an urgency in buyers to secure their dream home or risk paying more for that same house a few months down the road.sep 16 mkt snapshot
To add to that, we have a good portion of sellers who are also buyers… sellers who want to upgrade or downsize. This adds another layer of buyers to the market and reduces the amount of inventory.

Now this is all speculation and what we are seeing first hand, however here are some stats to back this up:
We we have seen Closed Sales decease 15.8%, and the Average Sales Price for detached homes increase 2.4% to $687,775, yet our inventory level has still decreased 11.9 %. So what does that tell us…? Well not much until you see this stat, our average days on market decreased 11.2%.

What does this mean for us… too many buyers, not enough homes!
What does this mean for you? Please read more below.

Buyers Advice:

I must admit: we are seeing a lot of multiple offer situations in the average to entry level price range. So how do you get your offer to stand out? There are a few things we like to do, one being making the timeframes convenient to the seller. What I mean is ask the seller if they would like to rent back, stay in the home for a short period after close, or close fast.
For more tips Click Here

Sellers Advice:

With low inventory our sellers are finding themselves in multiple offer scenarios, the market is theirs and they’re selling their homes for Top Dollar in less time! However price is not the only thing to look for in an offer, and it can be a mistake that leads to losing thousands.
Here are a few tips for what to look out for when responding to multiple offers Click Here

 

See the newest listing to hit the Real Estate Market in San Diego:

  1. 4 beds, 3 full baths
    Home size: 2,100 sq ft
    Lot size: 10,890 sqft
  2. 3 beds, 2 full baths
    Home size: 1,177 sq ft
    Lot size: 6,300 sqft
  3. 2 beds, 2 full, 1 half baths
    Home size: 1,464 sq ft
    Lot size: 43,560 sqft
  4. 5 beds, 3 full, 1 half baths
    Home size: 2,919 sq ft
    Lot size: 5,100 sqft
  5. 3 beds, 3 full, 1 half baths
    Home size: 1,460 sq ft
  6. 2 beds, 2 full, 1 half baths
    Home size: 1,428 sq ft
  7. 3 beds, 2 full, 1 half baths
    Home size: 1,368 sq ft

See all Real Estate in city of San Diego.
(all data current as of 9/29/2016)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Be Sociable, Share!

    No tags

    What’s going on with the 2016 San Diego real estate market? Is it hot, is it not?

    Well, now that we have 7 months of statistics in the books for 2016 it seems like a great time to do a review and see what’s really going on. Here is how it breaks down:Aug Real Estate Update 2016

    The inventory level has matched the same statistics that we saw last year in 2015, however Closed Sales have decreased 3.9%. Yet even with the decrease in sales our Average Sales Price has increased 5.5%…. How is that possible? Well, statistics don’t show this but having been involved in the market every single day, I believe we have a logical answer for this. We are seeing an increase in demand for properly priced homes that show well. Meaning, we don’t have enough sellers selling properties that are in good / move-in condition. And the properties that are in good condition are selling for higher amounts and increasing our average sales prices.

    What does this mean for buyers and seller? (Answered below in our buyers and seller advice)

    Buyers Advice:

    Because of the lack of inventory of (Move-In-Ready) homes you may want to consider buying a fixer upper. However make sure to hire an agent with experience in the field so they can guide you through the process. Joseph has years of experience in the field.

    Need money to do a remodel? How about a renovation loan? Here is a link to one of the money renovation loan out there: Click Here

    Sellers Advice:

    Have you ever heard the quote “Success is where preparation and opportunity meet”? Well, the the market is strong and prices are up, so the opportunity has arrived, however, in order to reach success you need to prepare the right way. We offer free consultations where we create an exact plan on how to prepare a home for market. We will provide services to: declutter, stage, paint, landscaping, cleaning and anything else that we see fit to maximize our client’s dollar. For a free consultation reach out to us at 888-503-3117, or see our seller’s guide here: Click Here

     

    See the newest listing to hit the Real Estate Market in San Diego:

     

    1. 4 beds, 3 full baths
      Home size: 2,100 sq ft
      Lot size: 10,890 sqft
    2. 3 beds, 2 full baths
      Home size: 1,177 sq ft
      Lot size: 6,300 sqft
    3. 2 beds, 2 full, 1 half baths
      Home size: 1,464 sq ft
      Lot size: 43,560 sqft
    4. 5 beds, 3 full, 1 half baths
      Home size: 2,919 sq ft
      Lot size: 5,100 sqft
    5. 3 beds, 3 full, 1 half baths
      Home size: 1,460 sq ft
    6. 2 beds, 2 full, 1 half baths
      Home size: 1,428 sq ft
    7. 3 beds, 2 full, 1 half baths
      Home size: 1,368 sq ft

    See all Real Estate in city of San Diego.
    (all data current as of 9/29/2016)

    Listing information deemed reliable but not guaranteed. Read full disclaimer.

    Be Sociable, Share!

      No tags

      Some rising concerns across the board to sustain a balanced market!March 2016 Real Estate Stats

      Yes I said it… but I’m not talking about the market slowing down, I am actually talking about home prices continuing to increase! For the 12-month period spanning March 2015 through February 2016, Pending Sales in San Diego County were up 10.0% overall. The price range with the largest gain in sales was the $500,001 to $750,000 range, where they increased 23.1%.
      The overall Median Sales Price was up 5.6% to $469,000. The property type with
      the largest price gain was the Single-Family Homes segment, where prices increased
      6.2% to $530,000. Market-wide, inventory levels were down -18.8%.

      With this much demand and the fact that interest rates dropped to the lowest point they have been in over 1 year, I am expecting to see prices continue to climb until we see inventory levels increase.

      For help finding your next home, call us at 888-503-3117

      The Arendsen Group Real Estate

       

       

      Be Sociable, Share!

        ,

        It has happened! The Federal Reserve raised the key interest rate on Wednesday from 0-0.25% to 0.25-0.5%.

        Don’t FED Rate Hikego running for the hills, this is a good thing for the economy as a whole. We have been expecting this rate to increase for quite some time, we have even talked about it through our blogs and even this monthly email, but it has finally came to fruition. They made this decision based on many different factors, however a large portion of that decision must have been because the residential real estate market is experiencing its best year since the crash. We have a healthy demand for houses and our unemployment rate has continued to stay at 5% and we have no signs to show us that this will change anytime soon. The FED has stated that they will have “gradual increases” in rates this year. What does this mean for the real estate market? In all honesty I see this putting a nice boost in our already strong real estate market in the immediate future, I say that because I believe buyers will rush to the market in order to lock in a low interest rate. However the long term effect is less predictable.

        Here is what we have seen up to this point. Pending home sales increased 11.7%, days on market decreased 13%, and the amount of homes for sale decreased a whole 21.2%. These are all strong indicators that the market is doing extremely well and a small increase in interest rates will not slow it down. Good things ahead for the San Diego Real Estate market!

        Buyers Advice- Time to get off the fence! Rates are still extremely low and will remain there for some time, however if the FED were to increase rates just one more quarter of a percent, you could be looking at hundreds of dollars more each month on a mortgage. Call me today to get started!

        Sellers Advice- First and foremost, if you do not plan on selling anytime soon and your interest rate is not below 4%, you need to consider refinancing before rates go up. If you are thinking about selling you may want to start preparing your home now, that way you can have your home on the market come Jan 1st. I say that because we always see a spike in inventory in February, so why not beat those sellers to the starting line and be ready for all those new year buyers! Call me today so we can come up with the best strategy.

         

        Ready to Start Your San Diego Home Search? Click Here

         

        Be Sociable, Share!

          No tags

          This time of the year is always slightly slower especially on a national level. Here in San Diego we do not have Nov_SDAR_Statsthe winter weather to worry about, however the Holidays do strike fear into some sellers which is why I think our inventory levels are so low. Inventory levels are down 23.3% from this time last year, however Pending sales are only up 12.2%. This shows us that we do in fact have more buyers entering the market than sellers… which is probably why we have seen prices increase 9.3% for Detached homes, and 1.6% for Attached homes. All in all these are good signs for the real estate market. The one factor that could affect this stable and strong market would be the Fed raising interest rates, they have decided not to raise rates the past two meetings but the final meeting in December will likely conclude with a minor rate increase. We will have to wait and see.

          Sellers Advice:

          Keep your friends close and competition closer 😉 Timing is everything in real estate, and if you are the only property on the market in your neighborhood this could results in a record breaking sale. If you are interested in keeping a close eye on your “competition”, please let me know and I will email you a weekly list of what has come on the market and what has sold in your area.

          Buyers Advice:

          With inventory so low and a high probability that you might see a multiple offer situation… you are going to want to have all your ducks in a row before seriously looking. Follow these steps to get prepared: Hire a Realtor, get pre-approved for a loan, have proof of funds for your down payment available, and start your search at least 4 months before you want to be into this new home.

           

          Start your search today! Click here to start, or simply scroll down to see the newest properties to hit the market in San Diego:

          1. 2 beds, 2 full, 1 half baths
            Home size: 1,464 sq ft
            Lot size: 43,560 sqft
          2. 5 beds, 3 full, 1 half baths
            Home size: 2,919 sq ft
            Lot size: 5,100 sqft
          3. 3 beds, 3 full, 1 half baths
            Home size: 1,460 sq ft
          4. 2 beds, 2 full, 1 half baths
            Home size: 1,428 sq ft
          5. 3 beds, 2 full, 1 half baths
            Home size: 1,368 sq ft
          6. 2 beds, 2 full baths
            Home size: 1,457 sq ft
            Lot size: 10,889 sqft
          7. 3 beds, 2 full, 1 half baths
            Home size: 1,572 sq ft
          8. 2 beds, 2 full baths
            Home size: 1,264 sq ft

          See all Real Estate in city of San Diego.
          (all data current as of 9/29/2016)

          Listing information deemed reliable but not guaranteed. Read full disclaimer.

          Be Sociable, Share!

            No tags

            Not the best month on record this year but definitely nothing to worry abSept 2015 San Diego Real Estate Statsout, especially because the Federal Open Market Committee voted on Thursday to not raise the federal funds rate. Meaning interest rates will stay low and buyers will continue to enter this market.

            This month we have seen Closed Sales increase 4.4%, and Pending Sales increase a whopping 15%. These are 2 great signs that the market will continue to climb going into next month. Something else we like to look at is the average “Days on Market”, and last month days on market decreased 23.3% for Detached homes, and 12.8% for Attached homes, which has caused us to hit one of the highest stats we have seen all year, that’s a 26.3% decrease in inventory for detached homes, and a 31.3% decrease in inventory for Attached homes compared to this time last year. I know I just hit you with a lot of numbers, but as you can see we have less inventory which should be a slight increase in values going into next month and hopefully beyond.

            If you are in the market to buy or sell in San Diego County, please feel free to reach out to us for a free consultation. Contact us Click Here.

            Ready to start the search for your new home? Click here to search for properties, or simply scroll down to see the newest homes to hit the market in San Diego:

            Sorry, but we couldn't find any results in the MLS that match the specified search criteria.

             

             

            Be Sociable, Share!

              No tags

              The second half of the year is usually slightly slower than the first half, however here in San Diego… this thriving market hasn’t skipped a beat! We are up 12.9% in the number of homes sold compared to this time last year, and our Median sales price is up 7%, which means we are on track for an increase across San Diego County of over 10% this year! I was asked while on AM760 earlier this year if I believed in a comment made by a local economist that “we would see an increase of over 10% in home values” even though I am one of the most optimistic people out there, I disagreed but only because I thought it would be slightly lower and somewhere around 8-9%, so I am not that far off, but I have to admit, this market has surprised me.

              Here are some real estate stats for San Diego to take note of:

               

              AUG_Blog_Pic

              Pending Sales Increased 13.3% YTD.

              Number of Homes Sold Increased 9.35 YTD

              Median Sales Price Increased 7.1% YTD

              Days on Market went Down 8.9%

               

              When we look at the market as a whole we see some strong signs of a stable market, and if we are seeing this then so is the Fed, so I am expecting mortgage rates to increase sooner rather than later. For now we will just have to wait and see.

              Sellers Advice:

              With prices up near the 2005 peak we are seeing a lot of people enter the market who have been waiting for 10 years to be able to sell, with that we have seen a lot of junk hit the market, or in better words properties that are in bad condition hit the market at a high price. If you are going to demand a high price for your home it needs to show well, we recommend putting money into 3 things: Paint, Kitchen and Bathrooms. Also seek out staging advice from a professional or a Realtor with some experience in this field. We offer free staging consultations so feel free to ask. 

              If you are interested in finding the value of your home, click here: Find the value of your home

              Buyers Advice:

              Interest rates just took a nice little dip because of everything that’s going on in the stock market, and what most buyers don’t understand is that the one thing that is more important than the price you pay for a home, is the interest rate you get on that home. Timing is everything and if you can lock in a low rate you will be happy buyer!

              To start your search click here: Start Home Search

              Or view the most recent homes for sale below:

              1. 4 beds, 3 full baths
                Home size: 2,100 sq ft
                Lot size: 10,890 sqft
              2. 5 beds, 3 full, 1 half baths
                Home size: 2,919 sq ft
                Lot size: 5,100 sqft
              3. 2 beds, 1 full bath
                Home size: 804 sq ft
                Lot size: 8,100.00 ac
              4. 4 beds, 3 full baths
                Home size: 1,964 sq ft
                Lot size: 12,066 sqft
              5. 3 beds, 2 full, 1 half baths
                Home size: 1,349 sq ft
                Lot size: 1.36 ac
              6. 2 beds, 1 full, 1 half baths
                Home size: 948 sq ft
                Lot size: 2,996 sqft
              7. 3 beds, 2 full, 1 half baths
                Home size: 1,690 sq ft
                Lot size: 3,999 sqft
              8. 3 beds, 2 full, 1 half baths
                Home size: 1,598 sq ft
                Lot size: 7,405 sqft
              9. 4 beds, 2 full baths
                Home size: 1,492 sq ft
                Lot size: 6,534 sqft
              10. 3 beds, 2 full baths
                Home size: 1,834 sq ft
                Lot size: 10,485 sqft

              See all Real Estate in city of San Diego.
              (all data current as of 9/29/2016)

              Listing information deemed reliable but not guaranteed. Read full disclaimer.

               

              Be Sociable, Share!

                No tags

                With half of the year already over we can get a good outlook on what this year is going bring for San Diego Real Estate, and the outlook is promising!

                We have seen a consistent slow increase in values and sales this entire year. Trying to predict what is going to happen for the remainder of the year is tough but with interest rates remaining low there are no signs of this market slowing down.

                Here are some Real Estate States for San Diego to back that up:June_Sales_Stats_2015 San Diego
                Closed Sales increased over 10% for detached homes and a whopping 20.2% for attached homes, which is huge! Pending sales increased 13.8% compared to this time last year which led to our monthly supply of homes decreasing 25%. With all of that happening our median sales price went up 6.1% compared to this time last year, that means we are seeing property values increase an average of 1% a month!

                This is all great news for homeowners but not necessarily for buyers… if the market were to continue this trend and a buyer were to wait until January of 2016 to purchase, on average they will end up paying $31,200 more for that home ( or 6% more than what they would pay now for that home).

                Sellers Advice:
                With values being up so much you might have more equity than you think. However if you are thinking about selling I have to say timing is everything, you will want to research your direct competition and make sure inventory is low in your area. If you are interested in getting a professional opinion if now would be a good time to sell, please feel free to call us.

                Buyers Advice:
                Depending on the market you are in it can be difficult to find that dream home. If you are looking for a condo then get ready and make sure all your ducks are in a row, because when the right property comes on the market you better be ready to pull the trigger and jump because competition is fierce. If you are looking for a single family home in the $500,000-$800,000 range, you are going to have some fun because there is plenty of inventory and possibly even some room to negotiate the price. Either way buyers need to hire an agent and have them help you find that dream home! Start your Search Here: www.ShopSanDiegoRealEstate.com 

                Here is a list of some of the newest San Diego properties to hit the market:

                1. 4 beds, 3 full baths
                  Home size: 2,100 sq ft
                  Lot size: 10,890 sqft
                2. 3 beds, 2 full baths
                  Home size: 1,177 sq ft
                  Lot size: 6,300 sqft
                3. 2 beds, 2 full, 1 half baths
                  Home size: 1,464 sq ft
                  Lot size: 43,560 sqft
                4. 4 beds, 3 full, 1 half baths
                  Home size: 2,600 sq ft
                  Lot size: 5,200 sqft
                5. 5 beds, 3 full, 1 half baths
                  Home size: 2,919 sq ft
                  Lot size: 5,100 sqft
                6. 3 beds, 3 full, 1 half baths
                  Home size: 1,460 sq ft
                7. 2 beds, 2 full, 1 half baths
                  Home size: 1,428 sq ft
                8. 3 beds, 2 full, 1 half baths
                  Home size: 1,368 sq ft
                9. 2 beds, 2 full baths
                  Home size: 1,457 sq ft
                  Lot size: 10,889 sqft
                10. 6 beds, 4 full, 1 half baths
                  Home size: 3,977 sq ft
                  Lot size: 16,117 sqft

                See all Real Estate in city of San Diego.
                (all data current as of 9/29/2016)

                Listing information deemed reliable but not guaranteed. Read full disclaimer.

                Be Sociable, Share!

                  No tags

                  San Diego Real Estate trends were expected to be promising in 2015, and the predictions were right!March 2015 Stats

                  We are off to a great year with closed sales being up 3.4%, Pending sales “Homes in Escrow” up an enormous 27.8%, and inventory being at its lowest point in over 8 months.   We have seen a lot of buyers enter the market due to interest rates dropping well below 4% this has caused a spike in new escrows being opened and caused inventory levels to drop over 15%, with limited inventory and high demand we have seen prices jump up 6% for residential detached homes and a whopping 15.4% for attached home “Condos & Town-homes”. All signs point to this continuing which has shifted the San Diego real estate market from a stable or flat market, into a Hot Market!

                  Detached Homes Attached homes
                  Closed sales + 3.4 % + 4.4 %
                  Pending sales + 27.8 % + 22.2 %
                  Inventory – 15.6 % – 17.9 %
                  Median Sales Price + 6.0% (1) + 15.4 % (2)
                  Days on Market – 6.4 % – 8.7 %
                  Supply -13.8 % – 15.4 %

                  Now if we take a quick look at the U.S. economy we are seeing some great signs there as well. Reports have assessed that on average, more people are employed and making more money than they were at this time last year. As one of the main financial factors when buying a home, employment is a key indicator for a prosperous residential real estate market. Also, another important factor to consider is mortgage rates. Fortunately interest rates are expected to stay low and that will keep inflation in check. That will translate into more buyers entering the market and help continue this great start to the year!

                  If you are looking to buy or sell Real Estate in San Diego County, reach out to us, we would be happy to help!

                  Buying or Selling, Call me

                   

                   

                   

                   

                   

                   

                  Search for your dream home here: Search San Diego Real Estate

                  See the most recent homes for sale here:

                  1. 3 beds, 3 full, 1 half baths
                    Home size: 1,460 sq ft
                  2. 2 beds, 2 full, 1 half baths
                    Home size: 1,428 sq ft
                  3. 3 beds, 2 full, 1 half baths
                    Home size: 1,368 sq ft
                  4. 2 beds, 2 full baths
                    Home size: 1,457 sq ft
                    Lot size: 10,889 sqft
                  5. 3 beds, 2 full baths
                    Home size: 1,706 sq ft
                    Lot size: 6,969 sqft
                  6. 2 beds, 1 full bath
                    Home size: 804 sq ft
                    Lot size: 8,100.00 ac
                  7. 3 beds, 2 full baths
                    Home size: 1,790 sq ft
                    Lot size: 6,534 sqft
                  8. 2 beds, 2 full baths
                    Home size: 896 sq ft

                  See all Real estate matching your search.
                  (all data current as of 9/29/2016)

                  Listing information deemed reliable but not guaranteed. Read full disclaimer.

                   

                  Be Sociable, Share!

                    No tags

                    On a national average home sales are down, most likely because of the extremely bad weather sweeping over the nation, however down here in San Diego things couldn’t be any hotter, and I am not talking about this heat wave, I am talking about the real estate market!

                    San Diego Real Estate Update March 2015

                    Closed Sales only increased 1.3% for Detached homes, however Pending Sales increased 17.4% for Detached homes and 12.6% for Attached homes. Inventory decreased 14.3% for Detached homes and 16.6% for Attached homes.

                    The Median Sales Price for San Diego was up 6.4% to $500,000 for Detached homes and 12.1% to $335,500 for Attached homes. This is huge and a great sign of what’s to come!

                    When it comes to financing news, rumors are that Fannie Mae and Freddie Mac could one day be no more which has people wondering about the future of the 30- year fixed-rate mortgage and traditional agency loans. But let’s not run for the hills as of yet or “Paddle until we are in the boat” as my French Canadian lady would say. A drastic change to lending’s gold standard is certainly not on the immediate horizon. Meanwhile, the Federal Reserve seems to have no immediate interest in raising interest rates for the first time since 2006. The economy remains stable, which should keep the San Diego housing market rolling through 2015.

                    1. 3 beds, 3 full, 1 half baths
                      Home size: 1,460 sq ft
                    2. 3 beds, 2 full, 1 half baths
                      Home size: 1,368 sq ft
                    3. 3 beds, 2 full, 1 half baths
                      Home size: 1,572 sq ft
                    4. 3 beds, 2 full, 1 half baths
                      Home size: 1,349 sq ft
                      Lot size: 1.36 ac
                    5. 4 beds, 2 full, 1 half baths
                      Home size: 1,836 sq ft
                      Lot size: 4,356 sqft
                    6. 3 beds, 2 full, 1 half baths
                      Home size: 1,690 sq ft
                      Lot size: 3,999 sqft
                    7. 3 beds, 2 full, 1 half baths
                      Home size: 1,598 sq ft
                      Lot size: 7,405 sqft
                    8. 3 beds, 3 full baths
                      Home size: 1,456 sq ft
                      Lot size: 3,484 sqft
                    9. 4 beds, 2 full baths
                      Home size: 1,492 sq ft
                      Lot size: 6,534 sqft
                    10. 3 beds, 2 full baths
                      Home size: 1,834 sq ft
                      Lot size: 10,485 sqft

                    See all Real Estate in city of San Diego.
                    (all data current as of 9/29/2016)

                    Listing information deemed reliable but not guaranteed. Read full disclaimer.

                    Buying or Selling, Call me

                    Be Sociable, Share!

                      No tags

                      Older posts >>

                      Web Design and Seo Services