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San Diego home prices in June rose 19% from a year ago.

San Diego home prices in June rose 19% from a year ago.

 Home price gains in San Diego outpace U.S.

San Diego home prices in June rose 19% from a year ago.

The pace of U.S. home-price increases began to slow by mid-year but not in San Diego County, where values took their largest annual jump in more than eight years, the S&P/Case-Shiller Home Price Index showed on Tuesday.

San Diego home prices in June rose 19 percent from a year ago, which marks its largest year-over-year hike since March 2005. The latest data also shows San Diego is outpacing national home-price growth, which was 12 percent when tallying all 20 areas in the index.

This is often the storyline for supply-constrained counties like San Diego: A limited amount of land means a limited number of homes can be built, which tends to drive up prices, said Michael Lea, a real estate professor at San Diego State University.

“We have more land constraints than most other cities,” Lea added. Similar areas include Los Angeles and San Francisco.

All 20 major metros in the Case-Shiller report showed price gains in June’s report, but fewer cities saw faster growth this month than last month. In this report, six fit that bill. In the previous report, it was 10. Also, more than half of the areas in the index showed weaker month-to-month gains.

For more information on this article from Lily Leung at the Union Tribune:

http://www.utsandiego.com/news/2013/aug/27/san-diego-home-prices-real-estate-values-gains/

 

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San Diego Home Prices Gain and Outpaces U.S. Real Estate Sales.

San Diego Real Estate Sales prices surge and reach higher than United Sates Real Estate Sales.

 

San Diego Home Prices Outpace U.S.

San Diego Home Prices Outpace U.S.

The pace of U.S. home-price increases began to slow by mid-year but not in San Diego County, where values took their largest annual jump in more than eight years, the S&P/Case-Shiller Home Price Index showed on Tuesday.

San Diego home prices in June rose 19 percent from a year ago, which marks its largest year-over-year hike since March 2005. The latest data also shows San Diego is outpacing national home-price growth, which was 12 percent when tallying all 20 areas in the index.

All 20 major metros in the Case-Shiller report showed price gains in June’s report, but fewer cities saw faster growth this month than last month. In this report, six fit that bill. In the previous report, it was 10. Also, more than half of the areas in the index showed weaker month-to-month gains.

The sudden uptick may have pushed some on-the-fence buyers into the market but also may have priced out others.

“Home buyers may be discouraged and sharp increases may be dampened,” said David M. Blitzer, chairman of the index committee at S&P Dow Jones Indices, in this month’s analysis.

The significant drop in local foreclosure resales also may explain why the county outpaced the nation in home-price growth. Foreclosure resales, which tend to carry discounts, made up 7 percent of home sales in June, down from 20 percent the previous year.

Home prices are rising in part because an increasing number of real estate investors are putting their investments on the market, typically refurbished and going at a higher price, said Lea, with San Diego State University.

San Diego County’s median continues to hover at a 5-1/2 year high.

If you would like to see any property throughout San Diego Area, one of us at The Biszantz Connection at Coldwell Banker would be pleased to show you the area!

858-755-0075- Coldwell Banker

Biszantz Connection Direct Line: 619-417-4655

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Fixed Rate Mortgages Continue to Decline.

Fixed Rate Mortgages Continue to Decline.

  Fixed Rate Mortgages  averaged below 4% .

Fixed  Rate Mortgage rate levels at its lowest level since the week of June 20th.

the average fixed mortgage rates hitting new lows for the year as. At 3.97 percent the average 30-year fixed rate is at its lowest level since the week of June 20, 2013 when it averaged 3.93 percent. This was also the last time the 30-year fixed averaged below 4 percent in the PMMS until this week.

30-year fixed-rate mortgage (FRM) averaged 3.97 percent with an average 0.5 point for the week ending October 16, 2014, down from last week when it averaged 4.12 percent. A year ago at this time, the 30-year FRM averaged 4.28 percent.
15-year Fixed Rate Mortgage  this week averaged 3.18 percent with an average 0.5 point, down from last week when it averaged 3.30 percent. A year ago at this time, the 15-year FRM averaged 3.33

In my humble opinion, I keep wondering how long is this going to last where it is so cheap to borrow money? If you are sitting on the fence as to whether to buy a home, these low Fixed Rate Mortgages make an undeniable argument to get off the fence and start investing in your future through buying rentals, first homes, investment income….Call Shannon Biszantz at The Biszantz Connection and we can sit down and discuss what your needs are and how best to raise your personal investment portfolio.  619-417-4655 or Shannon@ShannonBiszantz.com

– See more at: http://www.worldpropertyjournal.com

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  Homebuilder Confidence in U.S. at Record High Since 2005

 U.S. homebuilder confidence rose for a fourth consecutive month in

September.

Home Builder Confidence in U.S. At Record High Since 2005.

Home Builder Confidence in U.S. At Record High Since 2005.

The NAHB reported today that U.S. homebuilder confidence rose for a fourth consecutive month in September to a level of 59 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). This latest four-point gain brings the index to its highest reading since November of 2005.”Since early summer, builders in many markets across the nation have been reporting that buyer interest and traffic have picked up, which is a positive sign that the housing market is moving in the right direction,” said NAHB Chairman Kevin Kelly, a home builder and developer from Wilmington, Del.David Crowe”While a firming job market is helping to unleash pent-up demand for new homes and contributing to a gradual, upward trend in builder confidence, we are still not seeing much activity from first-time home buyers,” said NAHB Chief Economist David Crowe. “Other factors impeding the pace of the housing recovery include persistently tight credit conditions for consumers and rising costs for materials, lots and labore to 58. –

See more at: http://www.worldpropertychannel.com

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U.S. Home Prices Expected to Rise 5.7 Percent in Coming Year.

U.S. home prices nationwide, including distressed sales, increased 7.4 percent in July 2014 compared to July 2013.

U.S. Home Prices Expected to Rise 5.7 Percent in Coming Year.

U.S. Home Prices Expected to Rise 5.7 Percent in Coming Year.

 

CoreLogic Home Price Index (HPI) report, U.S. home prices nationwide, including distressed sales, increased 7.4 percent in July 2014 compared to July 2013. This change represents 29 months of consecutive year-over-year increases in home prices nationally. On a month-over-month basis, home prices nationwide, including distressed sales, increased 1.2 percent in July 2014 compared to June 2014. A total of 11 states, plus the District of Columbia, reached new highs in the HPI dating back to January 1976 when the index started. These states are Alaska, Colorado, Iowa, Louisiana, Nebraska, North Dakota, Oklahoma, South Dakota, Tennessee, Texas and Vermont.

Distressed sales include short sales and real estate owned (REO) transactions.The CoreLogic HPI Forecast indicates that home prices, including distressed sales, are projected to increase 0.6 percent month over month from July 2014 to August 2014 and, on a year-over-year basis, by 5.7 percent from July 2014 to July 2015. Excluding distressed sales, home prices are expected to rise 0.5 percent month over month from July 2014 to August 2014 and by 5.2 percent** year over year from July 2014 to July 2015. The CoreLogic HPI Forecast is a monthly projection of home prices built using the CoreLogic HPI and other economic variables. Values are derived from state-level forecasts by weighting indices according to the number of owner-occupied households for each state.”While home prices have clearly moderated nationwide since the spring, the geographic drivers of price increases are shifting,” said Sam Khater, deputy chief economist for CoreLogic. “Entering this year, price increases were led by western and southern states, but over the last few months northeastern and Midwestern states are migrating to the forefront of home price rankings.””Home prices continued to march higher across much of the U.S. in July. Most states are reaching price levels not seen since the boom year of 2006,” said Anand Nallathambi, president and CEO of CoreLogic. “Our data indicates that this trend will continue, with more states hitting new all-time peaks this year and into 2015 as the recovery continues.” – See more at: http://www.worldpropertychannel.com

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Shannon Biszantz

Shannon Biszantz

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16236 San Dieguito Road, Suite 4-12,
Rancho Santa Fe, CA 92067

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Office: 858-755-0075




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