Your San Diego Real Estate Source
Now more than ever, buyers are not only looking at your homes inside but also its outside. Adding an outdoor BBQ area, or even shower can offer a huge boost upon resale; putting your home at the top of buyer’s “must see” list. Upgrades don’t have to break the bank. Call me for a list of ideas and contractors who can help you turn your backyard into a paradise.
Outdoor amenities have value upon resale
The chart below, provided by the California Association of Realtors, is an excellent reminder that there are many components to consider when buying a home in San Diego. That is why it is so important to have a trusted real estate agent helping you every step of the way. As a full time professional for over 14 years, I have the knowledge and experience to point out many of the pitfalls buyers often over look on their tour of homes. While finding the perfect “fit” is an important piece to the home buying process, in truth it is just the beginning. Overlooking a homes location, lot orientation, condition, deferred maintenance and so on, can have big impacts after closing. I believe in honestly and I always point out the “good, the bad and the ugly” to my clients as we tour prospective homes. I often hear “gee Tami we didn’t even think of this and we are so glad you pointed it out to us”. In the end, I might spend more time with my clients than other agents, but their happiness is worth all the time in the world to me and ultimately we do find the perfect home. So if you are looking to purchase, or know someone looking to purchase a home in San Diego, give me a ring today- I’d love to help.
Hire a professional to help you when making the biggest investment of your life.
Owning you own home can bring years of fun and enjoyment to the creative at heart. Since many of our homes in San Diego were built in the 40’s, 50’s, 60’s, 70’s and 80’s a lot of home buyers set their sights on personalizing their home after closing. For many this can mean new landscaping or even extensive remodeling renovations. Putting your own style on your home is one of the best aspects of home ownership, in my humble opinion. The chart below, provided by the California Association of Realtors, illustrates some of the costs extensive renovations can cost California Homeowners. As a homeowner myself, I find the chart a bit on the high side for what most of my buyers experience. But certainly, if you are moving walls and gutting a home, the costs can add up quickly. If you are unsure of the costs of a project you wish to do to your new home, give me a ring, I can help put you in touch with trusted and honest contractors for your next big project.
Single family homes sales remained strong in 2015 in our I-15 corridor of San Diego. From January 1, 2015 to December 31, 2015 home sales for the following communities are as follows:
| Mira Mesa | Scripps Ranch | Rancho Bernardo |
| 609 Single Family homes sold | 471 Single Family homes sold | 471 Single Family homes sold |
| (down 10% from 2014) | (down 12% from 2014) | (down 10% from 2014) |
| Average Sales price = $433,482 | Average Sales price = $686,593 | Average Sales price = $674,900 |
| (Up 8% from 2014) | (down 10% from 2014) | (down 10% from 2014) |
| Median Sales price = $464,500 | Median Sales price = $464,500 | Median Sales price = $464,500 |
| (Up 8% from 2014) | (down 10% from 2014) | (down 10% from 2014) |
2016 is predicted by most economist to continue to see modest gains in San Diego’s housing community with modest appreciation. Interest rates have slowly begun to rise although they are still at historic lows. This coupled with rising property values, now is the time to jump into San Diego Home ownership before rates make payments cost prohibited. Give me a ring today….I can help!
If you have been shopping for a home in San Diego for a while it is no surprise the competition is fierce. As a full time San Diego real estate agent, I can tell you numerous stories of the lengths people will go to to have their offer be the one the seller selects. Cookies, wine, personal stories and flowers are just a few of the offerings buyer’s give to seller’s. But ultimately at the end of the day the thing most seller’s look for is the highest and best offer. Hence many buyers find themselves offering over the listing price for their perfect home.
The truth is an additional $20,000 or $30,000 dollars in a mortgage roughly equates to giving up that daily Starbucks. Most people can afford the small increase in their payment as our interest rates remain extremely low, making money, well “cheap”.
The chart below, provided by the California Association of Realtors, illustrates the trend in offering over the listing price. Throughout California in 2013, we saw highest increase in offers over list price. 50% of the time offers came in over the seller’s asking price. This is a huge leap and reflective of the abnormally low inventory throughout our state. California as well as San Diego continues to be a seller’s market!
2013 Was the Year of the most Offers Over the Asking Price
Walk to the beach from this charming beach bungalow which sits on a quite one way street. This spacious 3 bedroom 1.25 bath home has been lovingly cared for & upgraded. Features include: gorgeous hardwood flooring, granite countertops, stainless steel appliances, abundant kitchen cabinetry, dual-paned windows, remodeled bathroom, custom door, crown molding, newer roof, laundry room, a tropical paradise backyard, off-street parking for 3-4 cars , workshop/storage shed & built-in BBQ Island. Seller will consider all offers between $599,000 to $640,000. Run, don’t walk to this GREAT home. It won’t last long!
16th Annual Rolando Street Fair
Mark your calendars for March 25th 10 am to 6 pm for a sure to good time!
The Roland Street Fair
The median price for single family homes for sale in the metro areas of San Diego rose this January compared to the median price last year at this time.
The breakdown is as follows:
North Park Homes (92104)
January 2013 $562K verses January 2012 $425K
Mission Hills and Hillcrest (92103)
January 2013 $595K verses January 2012 $480kK
University Heights & Normal Heights (92116)
January 2013 $508,750K verse January 2012 $342k
The median price is the price where half of all home sold for more and half of all homes sold for less. It’s a good statistic to look at as it can often be a more realistic way of measuring price trends. “Average sales price” can often be skewed by a relatively high or low sales price of just a few homes. Statistics in general are meant to be used as a tool and of course the value of a home comes down to its individual traits, upgrades, location, etc. However this month over year comparison does help us see and understand the upward trend in prices in San Diego’s Metro communities. (All information was provided by the San Diego Association of Realtors using data extracted from the multiple listing service.) If you are thinking of buying or selling a home, give me a ring. I can help!
The National Association of Realtors came out with a report recently that shouldn’t be surprising to agents who work with both buyers as well as sellers. Approximately 27% of all sales in August were cash transactions. That is to say, no loan was taken out on the property but rather 100% of the cost was paid at closing with good ol’ fashion cash!
If you are a buyer who has such cash, good for you! The chances of your offer being accepted by the seller are much, much higher as no loan or appraisal contingencies typically applies. If you are a buyer competing against an all cash offer it can be quite disappointing and frustrating. Cash is hard to beat. And for what it is worth, I often see cash offers competing against other cash offers, thus driving prices up. 
Locally speaking, I did a little bit of research to see if San Diego was on the state average of cash transactions. I pulled single family residential homes sales for the College, El Cerrito and Kensington neighborhoods over the last 30 days. I found out of the 40 homes sold, 9 were all cash. This gives us a 22.5% ratio of cash transactions over the last 30 days for 92115.
Why is everyone paying cash? It can mostly be explained by tougher lending standards, difficult appraisal issues, low inventory compared and high, high demand. Demand for San Diego Real Estate has not been higher since our bubble burst in 2008/2009. Such demand and such willingness of buyers to pay all cash for properties is driving the cost of real estate up. Of the 9 homes which closed all cash in 92115, 4 of those sold for over list price. Go figure….even cash offers have their fair share of competition! Bottom line, it’s not an easy market out there, but one that is slowing turning into a red hot one!
Many of us who enjoyed a walk able diner style breakfast will be disappointed to learn Brian’s American Eatery moved out of University Heights/Hillcrest to North Park. It’s a sad day for University Heights residents. However, those that live near the old Johnny’s R, at 2611 El Cajon Blvd, are happy to have such a great group of folks, who serve delicious home-style food, near your doorstep. Lucky you! Breakfast, lunch or a late night dinner, you can’t go wrong with Brian’s American Eatery, especially if your appetite is huge!
Brian’s American Eatery
As a vegetarian inclined individual, I’m excited to try the new vegetarian restaurant, Plumeria at 4661 Park Blvd, where Savory used to be located. Plumeria is getting awesome reviews- 5 stars out of all 26 reviews on Yelp. Satay for $4.95 and peanut dipping sauce….oooohhh my mouth is watering already.
And for those of you who enjoy exotic cocktails and yummy food Lei Lounge is now re-open. Le Lounge is located at 4622 Park Blvd. If you are looking for a great way to spend a Sunday afternoon, enjoy a brunch at Lei Lounge’s outdoor patio. Sure to impress your out of town visitors.
Tami McCraw
