2011 San Diego California Real Estate Market

The holiday bells are beginning to quiet down and the new year has arrived. Looking through the San Diego real estate headlines I’m seeing a rehash of some of the past headlines.

Do these sound familiar to you:
* Act now, or you may be paying thousands more in a few months.
* What a great time to buy with low interest rates and a good supply of homes for sale,
* Solid signs of a firming market,
* With interest rates near all-time lows, buying now is a no-brainer,
* Get in now, before the huge pent-up demand for homes hits,

We have heard these same phrases since 2005. The major difference was that in 2005 and 2006 many of the Gurus were adding phrases:
* It’s only a normal pull-back,
* It’s known as a ‘pause to refresh’,
* This is a once in a lifetime buying opportunity before the market resumes it’s double digit yearly appreciation.

Amazingly in San Diego, California, is the local media talking-heads still go back to the same industry spokespeople to get their 60 second optimistic new year outlook for the 6:00PM news.

Naturally, I’d like to join this optimistic, self-promoting crowd, but sorry, I have to tell it like I see it.

After the $ 8,000, Federal and California home buyer credits expired, the local San Diego real estate market entered into a double-dip continued erosion of home values.

After the homebuyer credits concluded, San Diego home values saw modest price appreciation. Now even this modest appreciation has disappeared. Even more troubling is that the resale home sales volume has been dropping at double digit rates for the last few months. Just from April to May the western states sales dropped a reported 20.9%. Huge double-digit declines in home sales are a major red flag that cannot be ignored.

When will the government learn that you cannot artificially create lasting demand? (Statistics show the vast majority of government housing programs, costing billions, are outright failures and have only prolonged our malaise.) I believe the best thing the government can do is to stay out of the housing market and let the open market clean up the mess.

Think about this: Bernanke initially spent almost $ 2 trillion to drive long-term interest rates down.

The $ 600 billion QE2 has no effect to date. Actually, interest rates have moved up substantially. There are a few months left, but I am sure Bernanke will use the “it would have been much worse” argument and declare success. The reality is that there will be no QE3, not with Ron Paul now as the watchdog of the Fed.

Our aging population, combined with a decreased standard of living can’t equate to housing starts comparable to prior generations. I think our government’s relentless destruction of the middle class is making this different from prior real estate cycles.

Foreclosure moratoriums are beginning to expire. I believe the banks will push to clean up their portfolios through increased foreclosures.

Except for cash buyers, home pricing is derived from the affordability of the monthly payment. Should interest rates and taxes go up (a good bet), the purchase price will have to come down to establish a market.

Construction labor is already about as cheap as you can get it and inflation for materials is already present. This spells very bad news for homebuilders.

As far as pent-up buyer demand goes, the gurus again have it backwards. It’s not buyer pent-up demand, but seller pent-up demand to unload their homes.

The depth and longevity of this San Diego housing value depression has been imbedded into the consciousness of the usual first wave of home buyers in their late 20’s and early 30’s. The high cost of living in San Diego has been further stressed with continued multiple raises in utilities, increased state taxes/fees, higher education costs and $ 3.00+ per gallon gas prices. This all equates to over-priced homes in the current world of qualifying for a home mortgage.

I just believe there are major problems with our economy at play that we have never seen before and that will have a deciding call on what happens with housing. I see demand based on finance rather than population at this point.

During the mid 2000’s, almost the entire mortgage universe had been refinanced. This included many baby boomers that were in the last half of the 30-year mortgage they took out when they purchased their home. Some of this was hopefully to pay down other expenses and not to maintain their fantasy of the luxury lifestyle. The refinancing bubble that resulted from the irresponsible actions of Greenspan reset the 30-year mortgage clock. All borrowers looked at, was how the refinance lowered their house payment by $ X per month, without giving a second thought to the fact that they have also extended the term to a new 30-year loan.

Another round of refinancing occurred when Bernanke pushed rates down to the 4% range. The only borrowers left who have not refinanced are those with no equity and/or are facing foreclosure.

In either case, now many Boomers who are reaching the traditional retirement age, find themselves strapped with 20+ years left on their refinanced mortgages. Instead of preparing for the mortgage burning party that their parents had when that generation retired, they are wondering how they can make house payments on a lower income during retirement.
Since this is the first year of the boomers reaching 65, it is going to be a negative drag on housing for years to come.

For the San Diego and California real estate market we have to contend with our own Cap & Tax laws going into effect in 2011 that will increase utility costs by 20% over the next five and speeding up the loss of manufacturing jobs. We also have a new, old governor who was against proposition 13 which sets a maximum cap on property taxes and will likely propose new massive state taxes to deal with a $ 25.4 billion budget deficit.

So as the tune of Auld Lang Syne fades away, let me wrap this up with my opinion that there won’t be any strong base building in San Diego real estate until 2012. I could be wrong and there will be a tremendous growth in appreciation starting this month or in the coming Spring, but based on my 2005 article where I predicted this lousy housing bust, I wouldn’t exactly bet against me.

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Details for you to Check out in a Real Estate Specialist

Whenever you determine it’s finally time to start the search in earnest for a house, getting a Real Estate Agent in your corner may end up being a tremendous aid in your effort, both in terms of time saving and real estate knowledge. Nevertheless, this of course suggests an additional question: How do you choose a Real estate professional in the first place? Exactly what features and knowledge should you be searching for when finding a Real Estate Agent?

Know-how – Your Agent’s knowledge base is certainly one thing important to think about when choosing whether or not to work together with them. Nevertheless, you may not have recognized all of the possible areas of information for you to take into account. Kinds of understanding could consist of:

Geographic – Quite a few Brokerages concentrate on a distinct geographic region, such as some particular area of the local community. These kinds of Real estate agents possess in depth understanding of their own “territory” such as instructional establishments, crime levels, as well as architectural and efficiency of easy access factors for their region.

Legal – A number of Real estate agents possess considerable expertise in legal procedures, such as dispute prevention and settlement, rights and responsibilities, and probable legal pitfalls. When working with a complicated deal, these Agents are priceless as guides

Kind of Purchase – At times you may not be acquiring a house as a residence – you might be choosing to buy a house with the target of financial gain. A lot of communities, for example, have got a selection of condominium areas, in which investors frequently search for acquisitions. An Agent who will work with speculators on a normal basis may be acquainted with investment measurements and hazards to help make the most informed choice for your economic investment.

Practical experience – Practically nothing measures up to the experience of a financial transaction which has gone effortlessly. An Agent utilizing practical experience can easily help you with the home buying process with the minimum amount of emotional stress. Think about the following: That while for you, the buyer, this could be the very first (or 2nd or 3 rd) time you’ve acquired a home.

For a seasoned Realtor, this could actually be the one hundredth time (or even more) that the Realtor has been involved in a deal. This sort of familiarity with the purchase process develops comfort, and you can locate your property assured in your Agent’s skills to handle difficulties which might appear. Check for a Real Estate Agent with plenty practical experience in order to help to make your deal go as effortlessly as it can.

Work Ethos – Your Agent is actually, most likely, a professional character. Even so, every Real estate agent offers their particular style. A multitude of these people possess somewhat established working hours and days of the week on which they work, several other people work at any given time or day. Some tend to be in ongoing contact making use of technologies like smart phones and laptop computers, thus if you endeavor to gain access to them via email, Facebook, or Twitter they’re certain to answer nearly instantly. Others still decide on more typical methods and timescales for connection, therefore if you e-mail these types of individuals, you ought to assume a response within the next day or two. Complementing your own work expectations along with your Agent’s work ethos may assist in making certain of a smooth relationship during your home search.

Want to find out more about Clairemont Real Estate, then visit The Clairemont Real Estate Team’s site on how to choose the best home in Clairemont.

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5 Tips in Buying Real Estate

Cebu Real Estate continues to stand proud of its booming real estate development which great success by leaps and bounds as compared to any city or area in the Philippines today. While Cebu continues to enjoy a robust real estate industry, it is important that buyers need to be well educated in order to make the most out of the real estate market.
These top ten tips to buying real estate will help you enter into your next real estate transaction with confidence.

TIP #1: Contact the right Agent or Real Estate Broker

Contacting the right Real Estate Agent or broker is invaluable. In Cebu or even in the Philippines, you need not hire an agent or broker but just contact them and they are more than willing to help you find the property your are looking for in a manner as if you are hiring and paying for them. The small percentage of income from sellers/developers is already substantial for them that they no longer impose commissions from buyers.
If you are unfamiliar with the area, the realtor you choose is your link to important information regarding schools, zoning, city and county regulations, neighborhood trends, building and remodeling and rental restrictions, and property values.
Every city has different laws governing what can and can’t be done with a property.
You can find an agent or broker from friends or associates, directories, housing exhibits on shopping malls and nonetheless, the internet. It is important that you have a background of your prospective agent or broker and seek initial contact to find out if he can possibly do business with you in helping you find the property best suited for you.

TIP #2: Pre-qualify for Financing

Pre-qualifying for a loan may not seem that important until you find your perfect paradise property. When a property is priced to sell, it will usually attract more than one buyer. Once a seller receives an offer, the two most important things they consider are …the price, and the contingencies. For some sellers, a contract contingent on the buyer obtaining financing makes them uncomfortable with the offer.

Eliminate any doubt in the mind of a seller, by pre-qualifying for the amount you may spend on the purchase of any property.
This is especially important if your dream property suddenly has a price reduction.
When this occurs other buyers might come into the picture, that didn’t look at that property before it went “On Sale”! Often times a seller will take a financially sold contract over a higher offer. Be ready to put a deal together!

TIP #3: Consider the “best location” suited to your needs and situation.

“Location, location, location”, while overused as a real estate phrase, is still and always should be a huge consideration to you as the buyer.
If something about the location of a property bothers you, be aware that the same location drawback will bother any buyer you hope to attract when and if you need to resell the property. It’s important to ask a lot of questions, but often times it is difficult to know the right questions to ask if you are unfamiliar with the community.
This is why it is so valuable to choose and hire the right real estate agent to represent your interests when buying a property.
You will have to consider the areas that you need to be frequent such as your place of work, the school of the children, distance to malls for your groceries, and consideration also for churches and contingencies such as hospitals in times of emergencies.
More often, the desired location commands a higher price and the less desired are almost always affordable.
The important thing is to strike a balance between affordability and location as it is most of the time extremely difficult to get the best of both worlds.

TIP #4: Get a Home Inspection

Obtaining an inspection report performed by a licensed professional building inspector of your choice, can protect you from many defects that are hidden from view.
Why gamble with such a large financial investment?
Let a professional building inspector point out areas to be fixed or replaced that aren’t obvious.
A good inspector will give you a lengthy report covering all systems in the home from electrical, to plumbing, to roof conditions, and structural concerns.
Once you receive a report you may begin negotiations again concerning repairs.
Often a seller will agree to make necessary repairs up to a specified financial amount. When a seller lists their property “as is” they are letting you know that they are not willing to fix or replace any part of the property.
If you are interested in an “as is” property and aren’t going to level the structure and build new, it is still in your best interest to obtain an inspection report.
Don’t rely on the building inspector to look for termites and other harmful pest problems. Although an inspector will see pest damage, it is best to have a separate termite inspection conducted by a licensed company that understands pests and can eliminate them.

TIP #5: Obtain a Survey

Surveys will show easements, encroachments, and boundary lines of a property.
By surveying a home in an established neighborhood you are assured that the property boundary lines have been maintained.
As homeowners add on the their properties over time with fences, sheds, docks, garages, and other structures, boundary lines can be crossed placing part of their structure on your property, or vice versa. Surveying vacant land is also important for same reasons as a home, plus a survey will help determine the size home, or amount of coverage the lot will allow.

Cebu Real Estate continues to stand proud of its booming real estate development which great success by leaps and bounds as compared to any city or area in the Philippines today.

Things to Consider While Hiring Real Estate Consultants in Noida

What exactly you thing when it comes to real estate agents? Generally people have a common perception about real estate agents that they are people who show the properties and earn commission on the property deals. However, there are so many responsibilities associated with real estate agents, you may not aware of.

By what means would you be able to put a point of confinement on adapting more? The following segment may contain that one tiny bit of knowledge that progressions everything.
Why real estate agents?

In the event that you are hoping to purchase or offer real estate, don’t get have like a large number of other individuals out there, in feeling that you needn’t bother with a real estate specialists. The vast majority who purchase or offer homes, by and large surmise that a real estate operator is a misuse of cash. The individuals, who decide to purchase another home, imagine that real estate agents in Noida just add to the expense of acquiring the home.
The approaches can change significantly from state to state and organization to organization, which is the reason you ought to dependably check any research material or contracts that are given to you to guarantee that you comprehend what you are bouncing into. When you are talking with agents, make sure to get some information about whatever other sort of charges also.

Main 3 things to consider when searching for genuine estate specialists:

1. What you have to pay special mind to when you are talking with a real estate agents – on the off chance that he or she isn’t acquainted with up front installment help programs, you shouldn’t procure their administrations. Those agents who aren’t acquainted with these sorts of projects for the most part aren’t on the level, or they may do not have the experience important to help you buy the home you had always wanted.

2. Meeting the greatest number of real estate agents as you can before you settle on the most imperative choice in this procedure. Get a rundown of real estate agents that you can meeting taking into account referrals from companions, loan specialists, and even crew. Moneylender’s referrals are regularly an extraordinary decision as most moneylenders have worked with their proposals in the past and both are as of now acquainted with one another. Picking a loan agents referral can likewise keep you from experiencing any deterrents or shocks.

3. When you talk with real estate agents in Noida, guarantee that the agents clarify his charges forthright. Thusly, you’ll know precisely the amount he will be getting from the buy. It is savvy to discover the amount of experience he has in the field, and to what extent he has been working with real estate. It likewise helps to get some information about example contracts also. On the off chance that you are purchasing a home, you ought to verify that the agents meet expectations with purchasers. In the event that you happen to be offering your home, then you’ll need to verify that the agents live up to expectations with venders. Agents that are committed to one or the other are the best decision, as they will have more experience than agents who work with both purchasers and merchants.

Real Estate Consultants in Noida
Founded in 2006, keeping values and ethics as base CRC has grown organically to become one of the India leading real estate advisors. CRC gives a different yet coherent perspective to real estate dealings. It is not just a consultancy, it is about building and strengthening relationships with the clientele. It is about building better space solutions with judicious use of resources.

More AT: http://www.crcadvisor.com/

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