Posts Tagged ‘Real estate pricing’

Home Sales Soften in August / September

Sunday, October 20th, 2013

What Features Do Buyers Value?

Southern California and San Diego home sales in August and September backed off slightly, as prospective home buyers were spooked by the prospect of a federal shutdown, national debt talks, rising mortgage rates and weakened consumer confidence. The low inventory of residential homes and the increased uptick in home prices over recent months also added to things throttling back a bit in the Fall months.  San Diego County home prices actually went up in September after dipping slightly in August, but the number of transactions declined for the third straight month, according to research firm DataQuick.  It’s also interesting that Short sales are on the decrease comprising 14.3 percent of the market in September, down from 30.5 percent a year ago. Foreclosures were 4.4 percent of the market, down from 13.2 percent in September 2012.

During these interesting times of a fickle market you can make your home more appealing by understanding what features home buyers really value when looking at real estate.  See the graphic to the left to learn more!

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Is it Time to Move-up and Buy a Larger Home?

Saturday, September 21st, 2013
Move-up buying, is it time to sell and buy a larger home?

Move-up buying, is it time to sell and buy a larger home?

Move-up Buying

Virtually dead during the recession, move-up buying has resurfaced again in San Diego County. Property owners have been emboldened by rising home prices to list their homes and re-enter the market themselves.  Rising home values have meant more borrowers have emerged from negative equity, giving them the chance to break even or make a profit when selling.

San Diego County sales in the $300,000 to $800,000 range, generally the move-up category, rose nearly 50 percent in July 2013 compared with a year ago, figures from real estate tracker DataQuick show. Sales in the entry-level market, below $300,000, fell 25 percent in July, compared with a year ago.

Remaining home inventory also provides clues of a more-vibrant move-up market. The number of homes on the market between $500,000 and $800,000 is at a four months’ supply, which is “very, very healthy” compared with a year ago, when it was six to eight months. Movement in the trade-up market because those sellers tend to pay more visits to home-improvement stores to get furnishings and appliances. (more…)