CAR Revises San Diego Real Estate Sales Numbers Due to MLS Data Glitch
This blog post is in reference to an article in the Wall Street Journal by James R. Hagerty. The WSJ reported that:
“The California Association of Realtors expects to make sharp downward revisions in its recent monthly reports of soaring home sales in the San Diego area, Robert Kleinhenz, deputy chief economist of the trade group, said in an interview. The problem resulted from a glitch in data from a multiple-listing service in San Diego, Mr. Kleinhenz said. He said a change in computer systems used there resulted in incorrect data being sent to the Realtor association over the past year or so. Thomas Lawler, an independent economist in Leesburg, Va., who tracks home sales nationwide, raised questions about the San Diego data in a report last week. Mr. Lawler noted that the numbers reported by the Realtors vastly exceeded those from MDA DataQuick, a research firm in La Jolla, Calif., and other sources. The California Realtors have reported that San Diego sales in April were up about 63% from a year earlier. Mr. Kleinhenz said that is expected to be revised downward to a gain of about 20%. For May, the group reported an 89% increase in sales in San Diego; that will be slashed to about 6.5%, the economist said. As a result, he said, the state-wide sales gain for May — reported last week as 35% — also will be revised down, though it probably will remain above 30%, Mr. Kleinhenz said.”
I use the San Diego MLS as a Realtor in San Diego. There have been some changes to it over the past year and just recently. Fields have been added and things have been changed around. It took Listingbook quite a while to finally come into San Diego as a tool for agents and their buyers and sellers to view real estate for sale in the MLS. It has been frustrating for me as well because the IDX solution for my San Diego real estate web site has been changed several times because of the adjustments in the San Diego MLS. This has also made many of my search links invalid and error codes pop up when clients do searches with prior created links. It has forced me to remove the links. I also understand that the MLS not only in San Diego but other areas of the country change from time to time and will always have to be modified with new fields and updates. It is a part of technology and changing times.
The old adage “GIGO – Garbage In Garbage Out” – doesn’t apply either because it wasn’t “Garbage In” it was just “Garbage Out”. Because of the Changes in the MLS I can see how the sales calculations can be different from what they were in the past because of the added fields that are now in play. I’m glad the mistake was caught and I’m sure more caution will be used in the future when doing these calculations. It can also affect the Median Home Price data as well. If fields change and new categories are created someone with an understanding of all this needs to be overseeing the operation to make sure the reporting is correct. DataQuick got it right ….. Why not hire them.
With San Diego real estate moving in an upwardly direction over the past couple of months recent interest rates could slow home buying activity. Home buyers in San Diego have been, in some areas of the county, fighting over homes that come up for sale. Many San Diego home buyers have offers in on short sales and jump all over the bank owned REO foreclosures the day they hit the market. Unfortunately the bank owned REO’s already have offers on them the day they come up for sale and sometime even before they show up in the MLS.
This has many home buyers frustrated and wondering what they have to do to get a house or condo in today’s San Diego Real Estate Market. Another issue that has been waiting to rear its ugly head is interest rates. When interest rates rise home buyers see their purchasing power reduced. Keep in mind when interest rates go up the monthly payment for a homebuyer also goes up and sometimes more than what they are comfortable with. Many times the lender will have to reduce the purchase price of what the homebuyer can qualify for.
This scenario can also have a real negative effect on the real estate market in general. If a home buyer wanting to buy a home has had a certain purchase price and monthly payment in mind for a certain size and quality of home and then they’re told that they can’t buy the same home at the same monthly payment, many of them will decide not to buy. Some will wait for the homes that they were recently able to buy at a certain price range to come down into the loan amount of what the comfortable monthly payment is that they had already had their hearts set on. Some of them won’t be able to afford the same home they thought they could buy and won’t settle for less of a home now. These factors could show a decline in demand and then a decline in home prices. We’ll have to wait and see. Oh, and don’t forget about the foreclosures to keep the median home price in San Diego from gaining too much ground. There are a few years of that left.
If you need help buying a home or condo in the San Diego area make sure you contact us we’re your San Diego Realtor.
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NOT A SHORT SALE OR BANK OWNED - Gorgeous home has so much to offer. One full bed and bath downstairs. Family room has beautifully tiled fireplace with built in amber colored entertainment center and surround sound. Custom tile on diagonal lay thru out downstairs, over head lighting and neutral color paint. Huge kitchen has island, all countertops are granite with granite backsplash, amber colored cabinets and black appliances. Huge bonus room upstairs with 2 closets for extra storage. Big backyard. So much more.
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Lender approved San Diego short sale in writing at $305K. EastLake Trails-low mello roos. 3 bedrooms, 2.5 bathrooms, 1,244 Sq Ft, 2 car garage home on double cul-de-sac. Much sought after open floor plan in desirable EastLake. Professionally landscaped yard with no one behind you. Close to schools, pools and parks.
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What’s the deal? There are many ways to look at foreclosures and bank owned homes in
San Diego and Chula Vista California. I have noticed some companies cramming buyers on a bus to look for deals on foreclosures and bank owned homes. Many real estate agents look at this as the most uncomfortable and ineffective way to look at foreclosures and bank owned homes.
Home buyers that are interested in buying a foreclosure in the San Diego area usually select a real estate agent that can help them find the right home in the right area in the right price range. Home buyers don’t pay an agent the seller does. It’s not any cheaper to cram on to a bus with many other buyers and compete for the same deals on homes than it is to have an agent dedicated to working with just you. Usually a day of driving around the wrong neighborhoods and looking at homes not even in their price range or not even the kind of home the buyer wants will cure a buyer of wanting to do this ever again.
Let’s just say you find a foreclosure you like and 3 other families on the deal bus want to buy it. Now you’re competing with 3 other buyers driving the price up and who’s representing who? Like I said as a buyer you don’t pay the agent the seller does. You can have excellent one on one service with a local real estate agent who will research exactly what you’re looking for and find the homes that fit that description. Then the agent will pick you up or meet you at the office and show you the homes that exactly fit your description of what you want in home. Being crammed on a bus and looking at mostly homes that don’t fit what you’re looking for is a wasted day. Your time is valued with us.
When you want to take your San Diego and Chula Vista foreclosure and bank owned home search seriously give us a call. We’re here for one on one professional experienced service for the same price, Nothing! You can either eat with your family at a fast food restaurant or eat at a fine upscale restaurant either way it will cost you the same amount of money, nothing! It would be the same as the restaurant owner paying. When buying a home the seller or the bank on a foreclosure pays the real estate agent not the buyer. Take your time and think this one out. You can have great one on one service or be crammed on a bus. What do you think the deal is?
I’m Dawn Lewis and I’m a San Diego Realtor. You have just found the best San Diego Real Estate web site for searching for San Diego Real Estate. I hope it helps you with your San Diego home or condo search and answers questions you have about San Diego real estate. Please use the tools and features like the San Diego MLS with its great maps and community information.
My Experience:
Realtor® in San Diego Since 1989
SOLD well over 1,500 Homes
San Diego Top Producer
San Diego Relocation Expert
Top Real Estate Negotiator
San Diego New Home Sales Expert
San Diego REO Listing Agent
San Diego Foreclosure Expert
Short Sale and Foreclosure Expert
Winner of many Real Estate Awards in Sales and Customer Service
As you can see I have been a real estate agent in San Diego for quite some time. Please put my experience to work for you and give me a call today.
January 30, 2009 had 33 active 3 bedroom condos for sale in Downtown San Diego. Downtown San Diego has been devastated with massive inventory and many bank owned foreclosures or REO properties. Downtown has also and continues to have many short sales on the market as well. If there ever was a time to buy a great condo in Downtown San Diego at a great price this is it.
Many of the condos were built in the late 1990’s and early 2,000’s and are in excellent virtually new condition. The views of the city, Coronado and San Diego Bay and Harbor while living Downtown are stunning. The pulse of the city right outside your front door is a lifestyle many enjoy and who wouldn’t want to live in America’s Finest City. When you’re ready to buy a condo or town home in Downtown San Diego make sure you contact us.
When you are ready to buy a bargain home or condo in San Diego make sure you contact us. We are the San Diego Real Estate Experts!
If you’re in the Military in San Diego and you need housing make sure you contact us. We have helped San Diego’s Military with housing for over 20 years. When buying a house in San Diego as someone in the military or a military family you should work with a team that has helped countless military families relocate to San Diego. For some military house buyers it’s important to be close to the San Diego Military Bases they’re stationed at. We can help you with military housing in San Diego in the areas of; Miramar, Camp Pendleton, Coronado, North Island, Commander Navy Region Southwest and other San Diego Bases. We enjoy helping military personnel and military families find housing in San Diego California and have many experienced agents on standby for immediate assistance. Many of our Real Estate Agents are Veterans and they understand the military lifestyle and its challenges. We can also refer you to a lender than can help you with a VA Loan.
When you need help with San Diego Military Housing make sure you contact us. Where agents know it’s more about the people than the house.Dawn Lewis and The Dawn Lewis Team
San Diego Military Housing Expert
Relocation to San Diego for Military including, Marines, Navy, Army, Air Force and Coast Guard by Military Relocation Experts Dawn Lewis and The Dawn Lewis Team. If you’re in the military or part of a military family relocating to San Diego California we can help you find your new San Diego home or condo. We have helped many military families move to San Diego and have a proven track record of San Diego Military Relocation. There are many military bases in San Diego and many different areas to move to in San Diego County.
We honor our military and military families for serving our country. Many of the Real Estate Agents on our team are veterans or spouses of veterans so we understand the military life. We would be honored to earn your business. If you are in the Military or part of a Military Family relocating to San Diego make sure you contact us. We are local San Diego Realtors and we are here to help. Contact us.
need housing make sure you contact us. We have helped San Diego’s Military with housing for over 20 years. When buying a house in San Diego as someone in the military or a military family you should work with a team that has helped countless military families relocate to San Diego. For some military house buyers it’s important to be close to the 