Jun 2013 Statistics for North County San Diego County Homes

• The median price for all North County home sales - attached and  detached - increased to $495,000 in June 2013 compared to $485,000 in May 2013.

• Detached homes in North County rose 1.71 percent in June 2013 to $565,000 compared to $555,500 in May 2013.  June 2013 was the highest reported SFD median prices in North County since January 2008.

• Year-over median SFD price in North San Diego County jumped 20.21 percent, compared to $470,000 reported in June 2012.                

• The countywide median SFD price increased 2.32 percent to $429,750 in June 2013 compared to $420,000 in May 2013.

• Year-over non-North County median price jumped 23.49 percent compared to $348,000 in June 2012, a 15-month trend of year-over median price increases.

• The number of North San Diego SFD listings (active and contingent) rose 5.97 percent in June 2013 compared to May 2013.

• The number of sold North San Diego County SFD units decreased 5.76 percent in June 2013 compared to May 2013. Year-over sold SFD units decreased 0.88 percent compared to June 2012.

• Median days-on-market for single-family detached homes sold in North County increased to 19 days in June 2013 compared to 18 days in May 2013.

The HomeDex affordability percentage for all homes in North San Diego County remained at 34 percent in June 2013

Barbara Whisenant DRE# 01357594
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May 2013 Statistics for North County San Diego County Homes

• The median price for all North County home sales - attached and  detached - increased to $485,000 in May 2013 compared to $470,000 in April 2013.
• Detached homes in North County rose 3.83 percent in May 2013 to $555,500 compared to $535,000 in April 2013.
• Year-over median SFD price in North San Diego County jumped 23.72 percent, compared to $449,000 reported in May 2012.
• Spring 2013 has reported the highest median prices in North County since mid-2008.
• The countywide median SFD price increased five percent to $420,000 in May 2013 compared to $400,000 in April 2013.
• Year-over non-North County median price jumped 21.74 percent compared to $345,000 in May 2012, a 14-month trend of year-over median price increases.
• The number of North San Diego SFD listings (active and contingent) rose 5.35 percent in May 2013 compared to April 2013.
• The number of sold North San Diego County SFD units increased 11.49 percent in May 2013 compared to April 2013. Year-over sold SFD units increased 12.54 percent compared to May 2012.
• Median days-on-market for single-family detached homes sold in North County decreased to 18 days in May 2013 compared to 19 days in April 2013.
• The HomeDex affordability percentage for all homes in North San Diego County decreased to 34 percent in May 2013, compared to 36 percent in April 2013.

Barbara Whisenant DRE# 01357594
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California Home & Loan Headlines

Sacramento Bee

Home prices rise despite fewer sales

Following the expiration of the federal home buyers tax credit, sales of existing, single-family homes in California declined 4.2 percent during the month of June compared with the prior year, according to the CALIFORNIA ASSOCIATION OF REALTORS®’ (C.A.R.) June sales and price report. Meanwhile, the median price of existing homes in California rose 13.6 percent on a year-to-year basis to $311,950. The median price is the point at which half of the homes on the market sell for more and half for less.

KEEP THIS IN MIND

• Although the median home price in California rose in June on a year-to-year basis, in month-to-month comparisons the median price declined 3.8 percent, according to C.A.R.’s report. Despite the slight decline in month-to-month home sales, California’s housing market continues to recover at a quicker pace than the national housing market. Nationwide, home sales declined 5 percent in June and the median price rose only 1 percent, according to a report from the NATIONAL ASSOCIATION OF REALTORS® (NAR).

• C.A.R. expects home sales to be lower in the second half of the year because of the absence of the federal home buyers tax credit, but sales should remain above the long-run average and be significantly higher than the trough in 2007.

• According to C.A.R. President Steve Goddard, “It’s important to keep in mind that home prices are substantially below their peaks and interest rates remain at historic lows, making this a very affordable time for many first-time buyers to purchase a home of their own.”

• Home prices continued to post modest gains in June, due in large part to the lean inventory of homes for sale in many regions of the state. C.A.R.’s Unsold Inventory Index slightly rose to 4.8 months in June compared with 4.6 months in May and 4.2 months in June 2009. However, inventory remains well below the long-run average of a 7.1-month supply. The index indicates the number of months needed to deplete the supply of homes on the market at the current sales rate.

To read the full story, please click here: http://www.sacbee.com/2010/07/23/2909637/home-prices-rise-despite-fewer.html

In Other News…

Los Angeles Times

Credit rescoring can help you qualify for a mortgage

Rapid rescorings by independent, legitimate firms use procedures approved by the three major credit bureaus and can help correct errors or omissions that are dragging down your scores.

To read the full story, please click here: http://www.latimes.com/business/realestate/la-fi-harney-20100725,0,7390703.story

 

Los Angeles Times

Sellers should ensure that condo projects are on approved list for FHA mortgages Condominium owners who are trying to sell in today’s agonizingly slow housing market should make sure that their community is on the Federal Housing Administration’s approved list. Ditto for someone who is thinking about refinancing a condo.

To read the full story, please click here: http://www.latimes.com/business/realestate/la-fi-lew-20100725,0,7727492.story

 

Wall Street Journal

Mortgage delinquencies fall in June, still near record high

Some 9.39 percent of all loans were 30 days or more past due, down from 9.54 percent in May, according to LPS Applied Analytics, which tracks loan data. An additional 3.69 percent of mortgages were in some stage of foreclosure, down from 3.72 percent in May and the record high of 3.81 percent in March.

To read the full story, please click here: http://blogs.wsj.com/developments/2010/07/26/mortgage-delinquencies-fall-in-june-still-near-record- highs/

 

Los Angeles Times

Home prices tick up 4.6 percent in May

Home prices in 20 major U.S. cities gained in May, according to data released Tuesday, boosted by the effects of federal tax credits that have now expired.

To read the full story, please click here: http://www.latimes.com/business/la-fi-home-prices-20100728,0,7277846.story

 

San Diego Union-Tribune

Consumer confidence falls to lowest since February

Americans’ confidence in the economy eroded further in July amid worries about a still-stagnant job market. The report raised concerns about the overall economy and the back-to-school season.

To read the full story, please click here: http://www.signonsandiego.com/news/2010/jul/27/consumer-confidence-falls-to-lowest-since- february/

 

Wall Street Journal

The threat of “sidelined” home sellers

How many homeowners have been sitting on the sidelines during the housing downturn, waiting for massive price plunges to pass? The prospect of home-price stabilization is raising that question in some of the nation’s housing markets, say real-estate agents, who report an uptick in listings from “sidelined” sellers testing the waters.

To read the full story, please click here: http://blogs.wsj.com/developments/2010/07/27/the-threat-of-sidelined-home-sellers/

Bloomberg

Americans tap $8.3 billion in home equity, least in a decade

Americans in the second quarter tapped the smallest amount of home equity in a decade, showing households are focused on repairing tattered finances.

To read the full story, please click here: http://www.bloomberg.com/news/2010-07-28/americans-use-of-8-3-billion-in-home-equity-last- quarter-least-in-decade.html

 

Wall Street Journal

Doubling down on housing

The housing crash has left at least 11 million people in the unenviable position of owing more on their homes than they are worth—and many more millions with properties worth far less than they paid for them.

To read the full story, please click here: http://online.wsj.com/article/SB10001424052748704421304575383490870014662.html?mod=WSJ_hpp_sections_personalfinance

What you should know about the market

• Federal foreclosure-prevention programs have been expanded to encourage delinquent borrowers to avoid foreclosure by streamlining the short-sale process. In the new program, participating lenders now are required to advise eligible sellers of the minimum amount they will accept for the short sale prior to the house being listed for sale. If the seller secures an offer for the agreed price and meets the lender’s terms of the short sale, the lender must approve the proposed sale within 10 days.

• Another component of the new streamlined process requires the property to be listed with a licensed real estate professional who works in the community where the property is located. However, homeowners should be aware that because short sales require the bank to accept an amount less than the amount due on the mortgage, lenders may not approve a short sale, even if the price is comparable to recent sales in the neighborhood.

Brought to you by the CALIFORNIA ASSOCIATION OF REALTORS®

Follow me on Twitter: www.twitter.com/barbarawhis                                                                                   Be my Friend on Facebook:  http://www.facebook.com/barbarawhis                                                    Facebook FAN PAGE http://www.facebook.com/homes4salesd                                                           Linkedin: http://www.linkedin.com/in/barbarawhisenant                                                                            Read my Blog: www.barbarawhis.com                                                                                                         Visit my website: www.Homes4SaleSanDiego.com                                                                                            5 Star Video: http://video.fivestarprofessional.com/sdre2010/barbarawhisenant

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Sincerely,

Barbara Whisenant

A Division of Richard Realty Groups, Inc 6986 El Camino Real, Ste. H, Carlsbad, CA. 92009                     Office Line: (760) 603-8377 Ext 311    Cell: (760) 583-2107

May Real Estate Market information

California’s median home price up 21 percent in April from a year ago
California’s median home price—the point at which half of homes sold for more and half for less—rose 21 percent in April compared with a year earlier, but sales of existing, single-family homes declined 8.1 percent, according to the CALIFORNIA ASSOCIATION OF REALTORS®’ (C.A.R.) April sales and price report

MAKING SENSE OF THE STORY FOR CONSUMERS

• The median price of an existing, single-family detached home in California during April 2010 was $306,230, a 21 percent increase from the revised $253,110 median for April 2009, C.A.R. reported. The April 2010 median price increased 1.5 percent compared with March’s $301,790 median price.

• Annualized home sales dipped below the 500,000-unit level for the first time in 19 months, which C.A.R. President Steve Goddard partially attributes to home buyers delaying the close of escrow to take advantage of both the federal and state home buyer tax credits.  “We should see the pace of closed sales edge up in May and June as these tax-incentivized transactions close,” he said.

• The number of homes available for sale also impacted total sales in April.  “The demand for attractive foreclosed properties well exceeds the number of properties on the market,” Goddard said.  “At the same time, mortgage interest rates continue to hover near their historic lows, and many buyers are out in force to take advantage of the combination of low interest rates and affordably priced homes. It’s an ideal time for many families to purchase their first home even though they may face stiff competition.”

To read the full story, please click here.

  CNN Money

Foreclosures plateau—finally.  Repossessions soar.
The foreclosure plague may have finally reached its peak in April 2010—but don’t expect delinquency statistics to plummet anytime soon.

To read the full story, please click here.

  CNN Money

Consumer confidence on the rise
A key measure of consumer confidence climbed for a third straight month in May, a research group said Tuesday, with the outlook for the next few months spiking to pre-recession levels.

To read the full story, please click here.

  The New York Times

For mortgage shoppers, less can be more
The Internet can help simplify many financial transactions, though not always when it comes to home mortgages.  Those who sign up for information at mortgage Web sites have found themselves receiving a flood of calls and e-mail messages from brokers and lenders soliciting business.

To read the full story, please click here.

  CNN Money

Nearly 75 percent of homes are affordable
It’s prime time for house hunters. Nearly anyone with a decent job and a good credit score can afford to buy in their home towns.

To read the full story, please click here.

  Los Angeles Times

What kind of homeowners choose to default?
People who walk away from their mortgages are not as calculating as you’d think, according to a University of Arizona law professor whose academic paper on strategic default last year drew sharp criticism from lenders and Wall Street.

To read the full story, please click here.

  CNN Money

Freddie and Fannie won’t pay down your mortgage
Pressure is mounting on loan servicers and investors to reduce troubled homeowners’ loan balances ? but the two largest owners of mortgages aren’t getting the message.

To read the full story, please click here.

Talking Points

• When purchasing a home, buyers are strongly advised to request a home inspection prior to closing.  However, consumers should note that the primary job of a home inspector is to conduct a visual examination of the physical condition of the house and certain systems within it.  Since the examination is visual, home inspectors are not required to remove carpets to ensure the floors aren’t warped, for example, and may not walk on the roof to check for defects.  Home buyers should interview home inspectors ahead of time to find out what they will and will not cover as part of the inspection.

• While a new home may seem to be free of any defects, many real estate professionals still advise home buyers to hire a home inspector.  According to one home inspector, nearly 15 percent of new homes have serious structural problems.  Additionally, newly constructed homes can be more difficult to inspect than existing homes.  A new home doesn’t have any history.  For example, because the plumbing has not consistently been used in a new home, small drip leaks may not be easily detectable.  A home inspection can alert buyers to defects, if any are present.

Source: SmartMoney Magazine
http://www.smartmoney.com/spending/rip-offs/10-things-home-inspectors-wont-tell-you/

 

Contact me for any of your Real Estate needs.

 

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Barbara Whisenant

Your Friend in the Business

Follow me on Twitter: www.twitter.com/barbarawhis

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Visit my Real Estate website: http://www.Homes4SaleSanDiego.com

Visit my Nu-Skin website: http://barbaraw.nsedreams.com

P.S. It's my intention to build lifelong relationships one client at a time. If you know of a friend, co-worker or family member who has a real estate need, please contact me. Your personal referrals are the greatest compliment I can receive!

A Division of Richard Realty Groups, Inc 5411 Avenida Encinas, Suite 110, Carlsbad, CA. 92008 Cell: (760) 583-2107    eFax: (760) 496-1649   DRE# 01357594

Weekly Market Updates for California Real Estate

  Los Angeles Times

What do buyers want in a home? Survey offers clues
A recent study of more than 22,000 homeowners who bought their homes within the last nine years found that current homeowners plan to be “more practical” in their next purchase, focusing on livable space rather than unnecessary upgrades.

MAKING SENSE OF THE STORY FOR CONSUMERS

• Many of the luxury amenities once considered necessities among home buyers, such as community clubhouses, dog parks, golf courses, and 24-hour security, are no longer priorities, according to the survey.  Repeat buyers also said a swimming pool isn’t a must, but a children’s playground with walking paths are essential.

• One of the takeaways from the survey, according to an architect firm, is that buyers nowadays should rethink space.  For example, buyers should look for kitchen cabinets that go all the way to the ceiling for added space and efficiency.  They also should pass on high-priced focal stairways, opting instead of steps that are tucked away and out of sight.

• Buyers also should be on the lookout for dead space.  If the dining room or media room is eliminated, at least some of the square footage should be dedicated to secondary bedrooms.  The once-standard 10-by-10 bedroom no longer is acceptable to most buyers.

• The survey also found that many buyers have transitioned toward green features, such as high-efficiency appliances, insulation, and windows that are not large areas of glass.  However, many buyers did not report the use of recycled materials as a necessity.

• Other findings from the survey show that large kitchens, with islands, are desirable, as are main-floor master bedrooms, and two-car garages.

To read the full story, please click here.

  The Mercury News

Government launches effort to help homeowners in short sales
The government launched a new effort Monday to speed up the time-consuming often-frustrating process of selling your home if you owe more than it’s worth.

To read the full story, please click here.

  The Wall Street Journal

Hold your breath: Borrowers could stay “underwater” for years
So-called “underwater” homeowners who owe more than their homes are worth could be holding their breath for much of the next decade.

To read the full story, please click here.

  The Sacramento Bee

California expected to cancel tax on forgiven mortgage debt
Relief appears imminent for thousands of Sacramento homeowners hit with state tax bills for mortgage debts forgiven in 2009.

To read the full story, please click here.

  Los Angeles Times

Sales of contracts for previously owned homes rise 8.2 percent in February
The number of previously owned homes placed under sales contract surged 8.2 percent in February, according to data released Monday, the first sign that the government’s extended tax credit for buyers may bolster sales this spring.

To read the full story, please click here.

  The Wall Street Journal

Cash dwindling for no-money down home loan program
A program from the Department of Agriculture’s rural development division, which offers no-money-down loans in certain parts of the country for low- and middle-income borrowers, is likely to run out of funding next month, just as a surge of buyers are expected to ink deals before the federal tax-credit expires April 30.

To read the full story, please click here.

  CNN Money

With caution, Americans still want a house
Nearly two-thirds of American would still prefer to own a home, although the recent housing market turmoil and uncertain economy have made them a little more cautious about how and when, according to a survey released Tuesday.

To read the full story, please click here.

  The Wall Street Journal

Homeownership for everyone?
With the subprime market in ruins, affordable housing advocates are looking at new ways to promote responsible homeownership for low- and moderate-income families.  While many policy makers would resign low- and moderate-income families to rental housing, a new study makes a case for keeping the door open to homeownership at all income levels.

To read the full story, please click here.

The Wall Street Journal

The ladies’ turn
Housing market watchers say builders are now strenuously working to win the hearts—and checkbooks—of female buyers.

To read the full story, please click here.

 

Barbara Whisenant

Your Friend in the Business

Follow me on Twitter: www.twitter.com/barbarawhis

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Visit my Real Estate website: http://www.Homes4SaleSanDiego.com

Visit my Nu-Skin website: http://barbaraw.nsedreams.com

P.S. It's my intention to build lifelong relationships one client at a time. If you know of a friend, co-worker or family member who has a real estate need, please contact me. Your personal referrals are the greatest compliment I can receive!

A Division of Richard Realty Groups, Inc 5411 Avenida Encinas, Suite 110, Carlsbad, CA. 92008

DRE# 01357594

Short Sale is Deceptive.

The term Short Sale is deceptive, because they actually take a really long time. But if you’re willing to be patient and trust the process, we can almost always close the transaction for you.

I’m going to give you a few critical pieces of information in this video to help you avoid pitfalls in the Short Sale process.

I’ll start with a few words of caution to Sellers.

First, not all lenders will accept a short sale, so this may not be an option for you. But I will be happy to speak with your lender to see if this is a possibility for you.

Second, just because you’re upside down does not mean you’ll qualify. You must have a hardship, like loss of job, illness, divorce, death, or job transfer.

Third, I highly recommend that you speak with a lawyer and a CPA before starting this process. Here’s one reason why. When you got your loan, your lender may have filled in misleading information about you that. For instance, if they stated that you were making more money than you were actually making, you could be charged with fraud.

Now, if you can clear all these hurdles, then here’s the good news:   We can usually close the deal for you, and if you have a property under four hundred and fifty thousand dollars in good condition, you will get multiple offers.

The other good news is that if you can complete a short sale, the impact on your credit will be much less than a foreclosure.

For buyers, there are less hurdles to clear. But patience is still the name of the game. If you need to be in a house in 30 days, short sales are not for you. The process of buying a short sale takes six months on average, compared to 30-60 days for a traditional sale. Buyers have submitted up to 10 offers before one is accepted. So buyers have to be flexible and not get your heart set on any one house. Tell yourself that you’ll take the first offer that’s approved by the lender.

Last year one third of all short sales didn’t go through. That’s because this process is unfamiliar to many realtors and they weren’t prepared for the follow-through that’s required on these transactions. I’ve found that my persistent follow through with lenders enables me to close 99% of all my short sale transactions.

So if you have the patience, give me a call, and well get started on your Short Sale today.

Barbara Whisenant

Your Friend in the Business

Follow me on Twitter: www.twitter.com/barbarawhis

Be my Friend on Facebook: Barbara Whisenant http://www.facebook.com/barbarawhis

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Read my Blog: http://www.barbarawhis.com

Visit my Real Estate website: http://www.Homes4SaleSanDiego.com

Visit my Nu-Skin website: http://barbaraw.nsedreams.com

P.S. It's my intention to build lifelong relationships one client at a time. If you know of a friend, co-worker or family member who has a real estate need, please contact me. Your personal referrals are the greatest compliment I can receive!

A Division of Richard Realty Groups, Inc 5411 Avenida Encinas, Suite 110, Carlsbad, CA. 92008 Cell: (760) 583-2107    eFax: (760) 496-1649   DRE# 01357594

12 Reasons to List Your Home For Sale During the Holidays

If you need to sell you home, the holidays could be the best time to sell.

Below are several reasons why the holidays are a great time to list your home.

1. There is Less Competition for Buyers.

2. Winter Prospects are More Serious Buyers.

3. Your Home Looks Better During the Holidays.

4. One of the Highest Percentages of “Listings Sold” to “Listings Taken” Occurs During This Time of Year.

5. You May Receive More Money for Your Home Now—Because You Have Less Competition.

6. Throughout the Holiday Season, You May Restrict Showings During Your Personal Family Events

7. Buyers Have More Time to Look at Homes During Holidays, Especially During Vacations.

8. January is Traditionally the Biggest Transfer Month—and You Must be on the Market to Capture That.

9. By Selling Now, You Can Have a Delayed Closing or Extended Occupancy Until the Beginning of the Following Year if You Want.

10. When You Sell During the Winter, You Have an Opportunity to Buy During the Spring, When Many Homes are on the Market.

11. You May Have Fewer Actual Showings, but More Qualified and Motivated Prospects.

12. Corporate Transferees, Who Need to Buy a Home Now, Can’t Wait Until Spring.

Call me today for more information.

Barbara Whisenant

Your Friend in the Business

Follow me on Twitter: www.twitter.com/barbarawhis

Be my Friend on Facebook: Barbara Whisenant http://www.facebook.com/barbarawhis

Be my Fan on Facebook: http://www.facebook.com/homes4salesd

Linkedin: http://www.linkedin.com/in/barbarawhisenant

Read my Blog: http://www.barbarawhis.com

Visit my Real Estate website: http://www.Homes4SaleSanDiego.com

Visit my Nu-Skin website: http://barbaraw.nsedreams.com

P.S. It's my intention to build lifelong relationships one client at a time. If you know of a friend, co-worker or family member who has a real estate need, please contact me. Your personal referrals are the greatest compliment I can receive!

A Division of Richard Realty Groups, Inc 5411 Avenida Encinas, Suite 110, Carlsbad, CA. 92008 Cell: (760) 583-2107    eFax: (760) 496-1649   DRE# 01357594