San Diego Condos, Homes and Real Estate News

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Posted on November 25, 2009 13:02:03 by Gregg Neuman

Posted in Marina, Marina Renaissance, Downtown Directory, Downtown Real Estate, Search for Homes

Existing-Home Sales Increase for First-Time Downtown San Diego Home Buyers

With the help of the first-time buyer's tax credit, existing-home sales bounced back strongly in September. According to the National Association of Realtors, this marks five gains in the past six months.

Existing home sales consist of single-family, townhomes, condominiums and co-ops, which can be found in the Downtown San Diego Real Estate market.

These increased 9.4% to a seasonally adjusted annual rate of 5.57 million units in the month of September from 5.10 million in August. This means sales activity is at its highest point in over two years.

NAR chief economist Lawrence Yun states hope in the extension and expansion of the tax credit to continue the rising sales momentum and finally reach a point of self-sustaining recovery. This also means hope for the rise in sales of Downtown San Diego Condos.

At the end of September, total housing inventory fell 7.5% to 3.63 million existing homes available for sale. Currently, the housing supply is the lowest it has been in two and a half years.

If things continue at this rate, home prices including Downtown San Diego Condos could return to normal by next year.

Existing-home sales increased throughout the entire country in the month of September as follows: in the West, they increased 13.0% to an annual rate of 1.30 million and are 5.7% above a year ago.

In the South, they rose 9.0% to an annual level of 2.06 million and are 10.8% higher than September 2008.

In the Midwest, these sales jumped 9.6% to a pace of 1.25 million and are 7.8% above a year ago. And in the Northeast, existing-home sales increased 4.4% to an annual level of 950,000 in September, and are 11.8% higher than September 2008.

For further information on any Downtown San Diego Condos contact:

Gregg Neuman

1-800-221-2210

http://www.sandiegodowntown.com/00A3A1

Posted on November 14, 2009 20:56:20 by Gregg Neuman

Posted in Treo, Downtown Directory, Downtown Real Estate, Home Trends, Buyer Guide, Search for Homes

Buyers Can Benefit From Foreclosures in the Downtown San Diego Real Estate Market

Another wave of foreclosures is on its way in 2010, according to recent updates from the U.S. Treasury Department. The recent foreclosure crisis has been devastating the country for over a year now, and it appears it will continue to do so for about another year.

Foreclosed or bank owned properties have become a large part of today's market, accounting to about 65% of sales in some parts of the country.

These types of sales have also been seen in the Downtown San Diego Real Estate Market.

There is a positive outlook on this typically unpleasant experience, which benefits the Downtown San Diego Home Buyer.

The reason is that these types of homes usually mean a bargain price and the Downtown San Diego Real Estate market is no exception.

It is now very common to see real estate agents targeting foreclosures to show prospective buyers and they do so by positioning themselves online under foreclosures using key techniques.

These key techniques include adding the terms "foreclosures" and "bank owned properties" to the homepage, and adding pages and tabs with explanations on such terms so they are now much easier to find.

Agents, including Downtown San Diego Realtors also assemble a list of these properties in their market area and have them available to people who contact them.

If you are looking to find a bargain price on a Downtown San Diego Home, now is the time to do so.

For further information on any Downtown San Diego Condos contact:

Gregg Neuman

1-800-221-2210

http://www.sandiegodowntown.com/00A39C

Posted on November 11, 2009 14:56:30 by Gregg Neuman

Posted in Horizons, Downtown Directory, Downtown Real Estate, Home Trends, Buyer Guide, Search for Homes

Downtown San Diego Condos Short Sales - Anything But Short

Typically short sales benefit both the Downtown San Diego Home Buyer and the current homeowner. The first benefits by getting a bargain and the second benefits by avoiding foreclosure. And although the name implies it, these sales are anything but short.

A short sale is when homes, including Downtown San Diego Condos, sell for less than the mortgages owed on them. During difficult housing markets, short sales and foreclosures usually increase.

A Downtown San Diego Seller usually decides to short sale their home when they are facing foreclosure. This option does less damage to their credit than a foreclosure.

The longest and most complicated process of the short sale is getting the bank's approval to sell the home for less than the mortgage amount. This makes the short sale the longest transaction to complete, even in the Downtown San Diego Real Estate market.

In general a foreclose takes a total of 5 weeks, a traditional home sale takes about 7 weeks and a short sale is usually longer than 10 weeks.

Another problem in completing the short sale is that banks are so busy, it usually takes them anywhere between 45 and 60 days to even acknowledge the paperwork and assign a negotiator to it. They then determine whether the value of the home and the sales price make sense.

If the bank considers the price needs to be higher, the buyer might agree to pay more or the seller might have to put in a few thousand dollars.

Contact a Downtown San Diego Realtor if you are considering a short sale for your current home.

For further information on any Downtown San Diego Condos contact:

Gregg Neuman

1-800-221-2210

http://www.sandiegodowntown.com/00A399

Posted on November 05, 2009 13:56:35 by Gregg Neuman

Posted in Downtown Directory, Downtown Real Estate, Seller Guide, Buyer Guide

Your Downtown San Diego Home Equity - A Key Element to Retirement Planning

A secure comfortable retirement is in everyone's dreams. It is never too early to start planning for this stage of your life, and the equity in your Downtown San Diego Home is a key component to this plan.

Harbor Club Downtown San Diego Condos According to a 2009 Society of Actuaries report, the equity of your San Diego Real Estate home is a vital part of your non-financial assets, amounting to about 70% of your total assets if you are married. Without a doubt, this asset is very significant to your retirement and options related to choice and financing of housing are important considerations.

While the equity in your Downtown San Diego Real Estate Property plays a very important role in financing retirement, it might seem difficult to include this asset into your plan since most retirement planning software programs don't consider housing wealth. Still, there are a number of actions to take into account.

One option to consider is paying off the mortgage, this will reduce overall expenses in the future or serve as an emergency fund if needed. Another option is to sell and downsize to a smaller home, freeing up funds for investment or annuity purchase. You can also sell your Downtown San Diego Real Estate home, invest the proceeds and then rent.

You might also want to consider securing a home equity loan or secondary mortgage on the house. Furthermore, you can rent out extra rooms while you live in your Downtown San Diego Condo or home, or rent out your primary residence and live elsewhere at a lower cost.

Keep in mind that ultimately, the best course of action depends on individual preferences and circumstances but it is always a good idea to consider many options.

For further information on any Downtown San Diego Condos contact:

Gregg Neuman

1-800-221-2210