San Diego Real Estate Blog

San Diego Real Estate Blog - Real Estate News and Information in San Diego County California - Blog about Real Estate in San Diego County California

May 21, 2019

Top 10 San Diego Fastest Selling Communities 2019 March

Top 10 San Diego Fastest Selling Communities 2019 March

Interested in knowing where your community fits into the mix? 

Wondering if your community is in the top 10 or bottom 10 for the month of March in 2019? These stats are based on San Diego County's fastest selling communities is based on the average days on market for all sales within the community for the month. So these numbers vary monthly and can be skewed by agents pulling homes off the market and putting them back on to show a fresh new market time but they can show current trends in the market. 

Items that effect market time in the San Diego real estate markets can be things like overpriced homes, homes that are hard to show, too much or lack of inventory, stubborn sellers, picky buyers, changes in the community and lot’s more. 

Days on Market: Days on market counts are a barometer for how the community's housing market is performing. Typically, communities with low days on market have strong buyer demand (and/or a low inventory); communities with high days on market typically have lower demand. The days on market count is based on the average days on market for all sales within the community for the month. 

San Diego Fastest Selling Comunities March 2019

TOP PERFORMING MARKETS

  1. Tierrasanta
  2. University City
  3. Mira Mesa
  4. North Park
  5. Linda Vista
  6. Clairemont
  7. Rancho Penasquitos
  8. Morena
  9. Kensington, Normal Heights
  10. Allied Gardens, Del Cerro 

BOTTOM PERFORMING MARKETS

  1. Rancho Santa Fe
  2. Coronado
  3. Pauma Valley
  4. Bonsall
  5. Downtown
  6. Valley Center
  7. Rural East County
  8. Mission Valley
  9. La Jolla
  10. Del Mar

San Diego Fastest Selling Comunities March 2019  Top Performing Markets

San Diego Fastest Selling Comunities March 2019 Bottom Performing Markets

 

If you would like more information about the San Diego Real Estate Market please contact us we would love to help.

 

House Values in San Diego California

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May 20, 2019

Rancho Bernardo Condo Just Listed

Rancho Bernardo Condo Just Listed

Light and bright 2 story condo with 2 Bedrooms and 2.5 baths with 1,116sqft in award winning Poway School District!

Rancho Bernardo 15377 Maturin Dr Dawn Lewis

Completely open floor plan with built-ins in living room, dining area & convenient 1/2 bath downstairs. Kitchen has beautiful espresso cabinets, granite counter tops and stainless steel appliances. Upstairs bedrooms are great sizes!  Don't miss this opportunity to own in the Villa Taviana neighborhood of Rancho Bernardo

Call Dawn Lewis at 619-981-3917 for more info!

15377 Maturin Dr. 195 San Diego, CA 92127

Priced at $429,900

  • 2 Bedrooms
  • 2.5 Bathroom
  • 1,116 Sq Ft
  • 2 Parking Spaces

Amenities: Pool, Tennis, Yoga Studio, Gym and more

Video of this Rancho Bernardo Condo for sale.

 

For more information on this Rancho Bernardo Condo in North County Inland San Diego please contact The Lewis Team today!

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May 6, 2019

San Carlos 4 Bedroom Home for Sale

San Carlos 4 Bedroom Home for Sale

San Carlos Real Estate - Completely Remodeled.

San Carlos Real Estate San Diego

Get ready to be amazed with this gorgeous remodeled 4 Bedroom 2 Bath San Carlos home located at the end of a secluded cul-de-sac at the top of the hill with stunning views of Cowles Mountain. Relax in your lush park like backyard or take a dip in your newly re-plastered pool with sand beach entry. This home has it all! Large 400+ square foot deck overlooking your tropical oasis. 

Fresh neutral color paint inside and out. Newer kitchen with refinished cabinets and stainless steel appliances. New tile floors throughout main living area and bathrooms, new carpets upstairs. Huge master retreat upstairs with wood French doors leading out to balcony extending your amazing views. New windows, new sliders and new energy star roof.

Backyard has large patio with built in swimming pool and grass. Large 2 car garage. Come see this remodeled San Carlos home before it’s SOLD!

Video of this San Carlos Home

 

Priced at $775,000

For more information on this San Carlos home in East County San Diego please contact The Lewis Team today!

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The Lewis Team San Diego Real Estate Experts!

April 29, 2019

San Diego Calendar of Events 2019 May

San Diego Calendar of Events 2019 May

San Diego Events May 2019

Here are your calendar of events in San Diego County for May of 2019.

The Flower Fields 

Through May 12 • 9:00 am - 6:00 pm 

Website: http://www.theflowerfields.com/ 

Location: The Flower Fields of Carlsbad - 5704 Paseo del Norte, Carlsbad, CA 

The Ranunculus are set to bloom, so be the first to see the colorful fields. This season is full of exciting new events, food trucks, and more. 

Old Town Artisan's Market 

Saturdays and Sundays throughout May • 10:00 pm - 4:00 pm 

Website: http://www.oldtownsandiego.org/saturdaymarket 

Location: Old Town - Harney St & San Diego Ave., San Diego, CA 

A free weekend open air market offering an array of interesting art, jewelry, pottery, clothing, gift items and more by local artists. 

West Coast Weekender 

Thursday through Monday, May 2-6 • see website for details 

Website: https://westcoastweekender.net/ 

Location: Viejas Casino & Resort - 5000 Willows Rd, Alpine, CA 

With a strong focus on local art and industry, West Coast Weekender pays homage to the American westside's rich underground music culture. 

92nd Annual Wildflower Show 

Friday through Sunday, May 3-5 • 10:00 am - 4:00 pm 

Website: http://www.julianwomansclub.org/event/julian-wildflower-show/ 

Location: Julian Town Hall - 2129 Main St, Julian, CA 

This wildflower show is meant to educate about the botanical wealth of Julian and 855 species of plants within 25 miles of town. 

SoCal Beach Soccer Championships 

Friday through Sunday, May 3-5 • see website for details 

Website: https://beachsoccerusa.org/ 

Location: 1200 N Pacific St, Oceanside, CA 

The largest Beach Soccer Festival on the West Coast, this annual beach soccer festival is a competitive tournament for regional and worldwide teams that is also a fun family event on Harbor Beach in Oceanside. 

Old Town Cindo De Mayo 2019 San Diego

Old Town Fiesta Cinco de Mayo 

Friday through Sunday, May 3-5 • see website for details 

Website: https://www.cincodemayooldtown.com/ 

Location: Old Town San Diego State Historic Park - 4002 Wallace St, San Diego, CA 

Three days of bustling mercado, non-stop music and live entertainment, authentic food and drinks, lucha libre wrestling, and lowrider car display. 

Cinco De Mayo Rail Run 

Saturday, May 4 • 10:00 am - 5:00 pm 

Website: http://www.cincodemayotrailrun.org/ 

Location: Lake Poway Trail - 14644 Lake Poway Rd., Poway CA 

Trail Race & 5K/ 10K offer challenging and unique courses that will take you out on the Lake Poway Trail around the lake. Kids I /3 mile race too. 

cinco de mayo balboa park

Cinco De Mayo Celebration 

Saturday, May 4 • 11:00 am - 6:00 pm 

Website: https://balboaparkconservancy.org/project/cinco-de-mayo/ 

Location: Plaza de Panama and Spreckels Organ Pavilion, San Diego, CA 

Family-friendly event featuring traditional dance groups, a fashion show, strolling mariachis, activity booths for kids, authentic arts and crafts demonstrations, food trucks and a free concert. 

Carry the Load 

Wednesday, May 8 • 6:45 am - 9:30 am 

Website: http://www.carrytheload.org 

Location: San Diego Fire-Rescue Station 35 - 4285 East Gate Mall, La Jolla, CA 

Join the Carry the Load West Coast Relay team as they continue on their 4,600-mile trek to Dallas, TX. Participants are encouraged to bring a memento that symbolizes the load they are carrying. 

San Diego Surf Film Festival 2019 San Diego California

San Diego Surf Film Festival 

Thursday through Saturday, May 9-11 • 11:00 am - 6:00 pm 

Website: http://sdsurffilmfestival.com/ 

Location: Misfit Gallery - 565 Pearl St, La Jolla, CA 

Festival featuring 15 international surf films, special presentations, live art, music, local beer and much more. 

Mother & Daughter Tea 

Friday and Saturday, May 10-11 • 2:30 pm - 5:00 pm 

Website: https://www.westgatehotel.com/things-to-do/hotel-events/ 

Location: The Westgate Hotel - 1055 Second Ave., San Diego, CA 

Cherished memories abound complete with petite gourmet tea sandwiches, pastries, a glass of champagne and delectable macaroons for mom to take home. Tickets required. 

Chocolate San Diego

Chocolate Festival 

Saturday, May 11 • 10:00 am - 4:00 pm 

Website: http://www.sdbgarden.org/chocolate.htm 

Location: San Diego Botanic Garden - 230 Quail Gardens Dr., Encinitas, CA Enjoy dozens of delectable chocolate tastings, demonstrations, a chocolate fountain, children's activities, Mother's Day gifts and more. 

Mother's Day Jazz Brunch 

Sunday, May 12 • 11:00 am - 1:00 pm 

Website: https://www.hornblower.com/port/category/sd+mothersday 

Location: The Abbey on Fifth Avenue - 2825 Fifth Ave., San Diego, CA 

Enjoy an elaborate seasonal buffet, decadent desserts and live jazz entertainment in San Diego's only remaining Classic Revival structure. 

Ramona Rodeo 2019 san diego

Ramona Rodeo 

Friday through Sunday, May 17-19 • see website for details 

Website: https://ramonarodeo.net/ 

Location: Fred Grand Arena - 421 Aqua Lane, Ramona, CA 

PRCA rodeo with some of the greatest cowboys around, boasting a professional attitude with the best hometown hospitality. 

71 st Ocean Beach Kite Festival 

Saturday, May 18 • 10:00 am - 4:00 pm 

Website: https://oceanbeachkiwanis.org/kite-festival 

Location: Robb Athletic Field - 2525 Bacon St, San Diego, CA 

Kite building and decorating, prizes, demonstrations and games, crafters, community organizations, gourmet food, carnival activities and live music. 

16th Annual Space Day Celebration 

Saturday, May 18 • 10:00 am - 2:00 pm 

Website: http://sandiegoairandspace.org/calendar/event/2019-space-day-celebration 

Location: San Diego Air & Space Museum - 2001 Pan American F1aza, San Diego, CA 

Space Day will feature demonstrations, giveaways, and hands-on activities with local and national space experts. Fun for all ages. 

Socal Taco Fest San Diego

SoCal Taco Fest 

Saturday, May 18 • 11:00 am - 10:00 pm 

Website: http://www.91x.com/event/2019-socal-taco-fest/ 

Location: San Diego County Waterfront Park - 1600 Pacific Hwy, San Diego, CA 

Over 25 restaurants for San Diego's biggest taco festival' Plus, lucha libre wrestling, chihuahua races & beauty pageant and margarita tent.

Fiesta Del Sol San Diego

40th Annual Fiesta del Sol 

Saturday and Sunday, May 18-19 • 9:00 am - 9:00 pm 

Website: https://fiestadelsol.net/ 

Location: Solana Beach Chamber of Commerce – 210 West Plaza, Solana Beach, CA 

Free, two-day arts & music festival for 40 years as a kick off to summer in Solana Beach I Children's area with rides, games, and a climbing wall. 

Valley Center Stampede San Diego CA

Stampede Rodeo & Memorial Festival 

Friday and Saturday, May 24-25 • see website for details 

Website: https://www.vcstampede.com/ 

Location: 29902 Valley Center Rd., Valley Center CA 

Surrounding communities to come together and participate in America's greatest showcase of patriotism and western heritage rodeo!

Santee Street Fair and Craft Beer Festival 

Here are your calendar of events in San Diego County for April of 2019. • 10:00 am - 6:00 pm 

Website: http://santeestreetfair.com/ 

Location: Town Center Parkway & Riverview Parkway Santee, CA 

Join more than 30,000 visitors for live music and entertainment, more than 300 food and craft vendor booths, carnival rides and more!

Valley Center 69th Annual Western Days 

Saturday, May 25 • see website for details 

Website: https://www.westerndays.org/ 

Location: Visit Valley Center - 29200 Cole Grade Rd., Valley Center, CA Celebrate western heritage with a series of events including the Western Days Festival, Parade, Library kick-off party, Chili Cook-off and more!

Port of San Diego Festival of the Sea 

Saturday through Monday, May 25-27 • 1:00 pm - 3:00 pm 

Website: https://sdmaritime.org/ 

Location: Maritime Museum of San Diego - 1492 N. Harbor Dr, San Diego, CA Waterfront three-day event includes entrance to all vessels, exhibits, live music, education zone and artist exhibition with market.

House of Pacific Relations' Ethnic Food Fair 

Sunday, May 26 • 11:00 am - 5:00 pm 

Website: http://www.sdhpr.org/events-food.html 

Location: 2191 W. Pan American Rd., San Diego, CA 

Annual celebration of food from around the world I Sample the culinary treats of 34 different cultures and witness performances in native costumes. Features musical and dance performances on the HPR stage. 

13th Annual Memorial Day Celebration 

Monday, May 27 • 1:00 pm - 3:00 pm 

Website: https://lavistamemorialpark.com/event/13th-annual-memorial-day-celebration/ 

Location: La Vista Memorial Park and Mortuary - 3191 Orange St, National City): CA 

One of the San Diego's oldest and most historic cemeteries will host its annual Memorial Day ceremonies at its picturesque hilltop setting. 

 

Ready to buy a home in San Diego

Interest rates just dropped! 

Want to see what you can buy with your new purchase price and lower monthly payment?

Give The Lewis Team a Call Today 619-656-0655.

Sell my home in San Diego

 

 

 

April 25, 2019

Coronado Beach House

Coronado Beach House

Classic Coronado beach home with 4 bedroom, 3.5 bath, 2 car garage and 2293 sq. ft. with paid off solar.

Wonderful curb appeal invites you into a warm and friendly front yard made for lounging. This 2 story home has hard wood floors throughout the first and second floors giving you that instant Coronado beach feel. Loaded with elegant upgrades such as crown molding, stool and apron, wood cased windows, shutters & custom built in cabinetry pull it all together. Enter in to the large living room & formal dining room space with large glass doors that open to your front porch & garden area. 

The designer kitchen is made for entertaining. Large 8 foot island with plenty seating and lots of storage and cabinets.  Upgraded with farm sink, wine refrigerator, refrigerator drawers, Perlick beer dispenser, 6 burner stove, pot filler faucet at stove, built-in microwave, built in wine rack, tile designer backsplash, large pantry and storage closet. Kitchen opens to family room for that great room feel. Family room has fireplace, built in cabinetry and ceiling fan. Large glass doors open to nice size back yard space set up with a tile patio for relaxing and grass for playing around, retractable awning and a 2 car garage. 

Coronado Real Estate by Dawn Lewis

The second floor has a master bedroom and 3 additional bedrooms. Large master bedroom has ceiling fan, custom built in closet with shoe drawers underneath, large glass slider that opens up to a private balcony to enjoy those cool evenings. Master bathroom has vaulted ceilings with 3 skylights , built in cabinets and beautiful custom tile work. Nice sized secondary bedrooms all of them with ceiling fans, Jack and Jill bathroom plus one additional full bathroom. Bathrooms include Koehler sinks and 2 toilets are Toto toilets for optimum space savings, tank less water heater, AC, new windows & owned solar is a 5.4 kilowatt system. 

Alison Salinger

 

Downtown San Diego City views. Everything is done for you, no need to remodel, just move right in!

Video of this Coronado Home for Sale

320 E Ave Coronado CA 92118

  • Bedrooms: 4
  • Bathrooms: 3.5
  • Sq. Ft.: 2,293
  • Garage: 2 Car
  • Price: $1,999,990

For more information on this Coronado home please contact The Lewis Team today!

Request a private showing

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The Lewis Team San Diego Real Estate Experts!

April 25, 2019

Clairemont Mount Streets Canyon Home

Clairemont Mount Streets Canyon Home

Entertainers' paradise just minutes from the beach in the coveted Mt Streets of Clairemont!

This tropical retreat sits on the canyon surrounded by lush landscaping & exotic palms. Tiki bar with outdoor kitchen, TV, & fire pit perfect for sunset views. Custom remodel, open floor plan with a chef's kitchen featuring bamboo cabinets, soapstone counter tops, large island, & s/s appliances. Travertine & hardwood floors throughout, dual pane windows, central ac, & above grade copper plumbing. 

The exterior of the home was upgraded with stucco and rock veneer, two toned stamped concrete, redwood fencing with rock veneer columns, tankless water heater, whole house water filtration system, central A/C and heat, gutters, rain barrels and built in storage shed. The garage features epoxied floors, generous built in shelving & stainless-steel workbench perfect for a tool enthusiast.

True pride of ownership in every detail of the home.  Rows of windows & french doors that create a true indoor/outdoor SoCal living experience. A built-in surround sound was installed with additional speakers that flow throughout the home and continue out to the backyard. Both bathrooms have been remodeled to include custom cabinetry and granite countertops.  The hall bath offers a spa like experience with the Kohler Hydrotherapy Tub. The home offers travertine floors in the kitchen, dining and living room and hardwood floors in all three bedrooms, encased dual pane windows and doors, wood blinds, recessed lighting w/ dimmable light switches, crown molding, 6” base boards, ceiling fans throughout the home and a room with a separate entrance/access to back yard.  

Mount Street Homes in Clairemont 92111

Experience resort like living with cool ocean breezes and an outdoor space that was designed as an extension of the home. The outdoor tiki bar offers a relaxing tropical oasis shaded by a reed thatched roof perfect for entertaining or just relaxing on warm sunny days. It incorporates a spacious cooking zone, TV and Island with ample counter space for seating & entertaining guests. Enjoy happy hour and the sunset at the built-in fire pit while taking in the tropical vacation like vibes and warm glow of the professional landscape lighting. 

Centrally located within minutes of the beach with easy access to highways 5, 805 and 163.  Zoned to the highly desirable Holmes Elementary School and High Tech High. 

Video of this wonderful Clairemont one of a kind canyon home

 

Feature List

Interior Features

• Custom bamboo cabinets in kitchen with soft close drawers

• Pantry cabinets with soft close and pull out drawers

• Soapstone countertops and center island in kitchen

• Built in coffee/wine bar in kitchen

• Stainless steel Kenmore PRO range and oven

• Stainless steel Kenmore PRO dishwasher

• Luxury Liebherr refrigerator w/dual zone compressor

• Pendant lighting in kitchen

• Glass kitchen door leads to private dining patio

• Under cabinet lighting in kitchen

• Kohler hydrotherapy tub in hall bathroom

• Custom cabinets with soft close drawers and granite countertops in both bathrooms

• Grohe fixtures in hall bathroom

• Built in POLK surround sound and additional speakers throughout home with volume wall controls

• Ceiling fans with wall controls in all rooms

• Travertine floors laid diagonal

• Hardwood flooring in all 3 bedrooms

• Wood encased dual pane windows

• Wood blinds

• Six-inch baseboards throughout

• Crown molding

• Bullnose corner bead throughout house

• French doors in family room

• Vertical windows

• LED recessed lighting throughout

• Dimmable light switches in all rooms

• Bamboo hall linen cabinet with soapstone countertop

• Wood two panel sliding closet doors in bedroom #2

• Mirrored closet doors in bedroom #1 and master suite

• Bedroom #2 offers separate entrance/access to backyard

 

Exterior Features

 

• Three Poll Palapa

• Palapa islands featuring marble countertops

• Outdoor kitchen with BBQ, side burner, refrigerator, freezer and TV

• Fire pit with rock veneer and concrete ledge cap

• Professional landscape lighting throughout grounds and canyon

• Rare exotic landscape to include palms from Hawaii

• Concrete staircase to canyon

• Gutters and 7 rain barrels

• Custom front door with beach themed stained glass

• Two-toned stamped concrete

• Stucco pony wall with redwood fencing and rock veneer columns

• Removed siding and replaced with stucco to include stucco eves

• Pony wall separating neighbor to left with concrete ledge cap

• Redwood gates with decorative corbels

• Exterior decorative stucco foam trim around doors and windows

• Exterior stone ledge and concrete caps on fence columns

• Wood storage shed doors

 

Garage Features

 

• Surf board rack

• Epoxied floors

• Attic access added to include attic ladder

• Stainless steel sink

• Stainless steel workbench

• Custom built in cabinets

• Five shop lights in garage

 

Whole House Features

 

• Tankless water heater

• Whole house water filtration system

• Central AC and Heating

• Above grade copper plumbing

• Updated electrical panel

• Front load washer/dryer

 

Address:      4686 Mount Bigelow San Diego, CA 92111

Bedrooms:   3

Bathrooms:  2

Sq. Ft.:        1,252

Garage:       2 Car

Lot Sq. Ft.    6,500

Price:          $850,000

 

For more information contact or call The Lewis Team 

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The Lewis Team San Diego Real Estate Experts!

April 21, 2019

Happy Easter

Happy Easter from The Lewis Team

Happy Easter 2019 in San Diego

Thinking about buying or selling in 2019?

Contact The Lewis Team today!

619-656-0655

April 6, 2019

San Marcos Home

San Marcos Home

Beautiful single level 3 bedroom 2 bath home in San Marcos. Entrance to your new home has a gated courtyard with pavers great for sitting & enjoying the neighborhood. Rich hard wood floors throughout. Vaulted ceilings, cozy fireplace & ceiling fan in living/dining room add to the open floor plan. Upgraded kitchen has large island, shaker cabinets, white quartz counter & stunning whole wall backsplash. Master has private access to back yard, 2 closets, ensuite with dual sinks, separate soaker tub & tiled shower.

Sam Marcos Home for Sale

  • 3 Bedrooms
  • 2 Baths
  • 1,140 Sq Ft

Priced at $529,900 - $550,000

Video of this San Marcos Home for Sale

 

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The Lewis Team San Diego Real Estate Experts!

 

April 5, 2019

Eastlake Townhome for Sale

Eastlake Townhome for Sale

Charming 3 bedroom 2.5 bath, 1386 square foot town home in the gated community of Eastlake Summit

Kitchen has decor tiled back splash, stainless steel appliances, maple shaker cabinets, solid counters and open eat at bar. Gorgeous hardwood floors flow throughout dining/living room with ceiling fan & sliders onto a private balcony to enjoy your amazing mountain view. Convenient 1bd & half bath on first floor. Great master suite with dual walk in closets ensuite with double sinks and shower. Home has attached 2 car tandem garage.

New Listing in Eastlake Chula Vista CA

Listed at $420,000

  • 3 Bedrooms
  • 2.5 Baths
  • 1,386 Sq Ft
  • 2 Car Garage

2145 Caminito Leonzio 5 Chula Vista CA 91915

Video of this Eastlake Townhome

Would you like more info on this property?

Please contact The Lewis Team today!

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April 4, 2019

San Diego Real Estate Market Spring and Summer 2019 Update

San Diego Real Estate Market Spring and Summer 2019 Update

The San Diego Real Estate Market is in an interesting place. I believe there is opportunity in the 2019 spring and summer market for both buyers and sellers. But I also believe there is opportunity in any market if you know where to find it or how to get it. So as far as the market in 2019 is concerned it can’t be explained by a quick phrase like “it’s great” or “you better buy now” although in same cases it is. There are some really good things going on right now, one of them being that interest rates have dropped into the low 4% range and even the high 3% range for a 30 year fixed. 15 year fixed loans even lower. So if a buyer is looking to purchase a home or condo the interest rates are great. If you’re thinking about selling your home it’s a good time because the interest rates, being low, allow a buyer to go up in price range.

Back to the end of Summer of 2018

To really understand the 2019 real estate market in San Diego we have to go back the 2018 market. The market was carrying over from a very health and robust 2017 market that continued into a very healthy and robust 2018 market. Interest rates in 2017 were around 4% and then in January 2018 interest rates started climbing until April 2018 when they went up to 4.5% for a 30 year fixed. Now this was expected since Donald Trump and the Fed said they were going to raise rates in 2018. It was no surprise when rates started rising. The buyers that were sitting on the fence jumped off the fence and bought homes and condos.  Buyers knew, at least the savvy ones, how interest rates effect their monthly mortgage payment and purchase price. So there was a rush to the market in early to middle 2018. The summer rush to purchase a home was fueled by the knowledge that interest rates were going up and it wasn’t just talk, like previous years, they actually were going up. 

At the end of summer 2018 the market got quiet. Not everywhere and not in every price range but overall agents were saying and feeling a slowdown. I believe 2 things were the cause of the slowdown. One was without a doubt the interest rates going up which caused the fence sitters all jump in before the rates went up. Many of them bought their homes in the first half of 2018. Second was that sellers and or sellers agents pushed the price range to accommodate for the next expected jump in price from the recent summer rush of buyers. That price jump never happened. Listings stayed on the market longer and in many cases they reduced the price to a price range a buyer would consider writing an offer on.  Inventory built up. It was great for a buyer but now that interest rates were higher many buyers were sitting it out and watching to see what would happen. Sales were still going on but not at the pace seen in previous years. Especially the middle-upper-end to upper-end homes and condos were not selling like they were. 

Mortgage Rates 1 year, 3 Year, 5 Year, 10 Year and Max from Freddie Mac

1 Year Chart - Mortgage Interest Rates April 2018 - April 2019

Mortgage Interest Rates 4-4-2018 - 4-4-2019

 

3 Year Chart - Mortgage Interest Rates April 2016 - April 2019

Mortgage Interest Rates 4-4-2016 - 4-4-2019

 

5 Year Chart - Mortgage Interest Rates April 2014 - April 2019

Mortgage Interest Rates 4-4-2014 - 4-4-2019

 

10 Year Chart - Mortgage Interest Rates April 2009 - April 2019

Mortgage Interest Rates 4-4-2009 - 4-4-2019

 

MAX Freddie Mac Chart - Mortgage Interest Rates April 1970 - April 2019

Mortgage Interest Rates 4-1-1970 - 4-4-2019

The California Association of Realtors came out with the Traditional Housing Affordability Index for the second quarter of 2018. They stated that the affordability index went down from a 26 to a 23 “less affordable by 3 points” with the median home price in San Diego being $645,000. This showed a monthly payment including principle, interest, taxes, and insurance being $3,420 and the minimum qualifying income to buy that $645,000 median priced home was $136,720. More negative news kept some buyers out of the market, taking a let’s wait and see stance. This continued through the remainder of 2018. There were sales but not as robust as earlier in the year. Remember real estate is mostly cyclical. 

Traditional Housing Affordability Index in San Diego California 2017-2018

Housing Affordability Index San Diego 2018 second quarter

Housing Affordability Index San Diego 2017-2018

Early 2019 Real Estate Trends

The trend from 2018 continued into 2019. Sellers that had overpriced their homes continued to let them sit on the market for longer market times instead of adjusting the price to a range that a buyer would consider making an offer on. After a while sellers pulled their homes off the market or did indeed relook at where the market is and price their homes correctly for a sale. Remember that if a home is priced at market value or near market value and it’s a reasonably nice home that buyer’s would like to buy a seller will receive offers. But when a home is overpriced it will sit on the market until a seller realizes what the real value of their home is and lower the price. Sellers, including me, want the most amount of money when they sell their home. But when it’s overpriced it then doesn’t sell and in turn works against you once you realize it and then reduce the price. Price it right to begin with and your results are better by far.

San Diego On-line Home Values

A Zillow Zestimate and other similar house value tools have convinced sellers that the value of their home is what these tools say it is. They couldn’t be more wrong. It can be off by tens of thousands of dollars or more. These tools can be comparing your home to a much smaller home that hasn’t been remodeled in 50 years. It can also be comparing your home to a home much larger than yours that just recently had a complete $250,000 remodel. There’s no way that these tools can accurately know which properties are comparable to yours, its guessing. They are just tools for amusement, they are not made to substitute the knowledge and experience of a qualified real estate professional to show you what your home is worth in today’s market and why. It’s somewhat funny to me that a homeowner would trust an online estimate of their home’s value and consider it to be truth, almost like looking at the amount in their savings account and 401k account and seeing a number. The number in your bank account and 401k account is accurate; the number on a Zestimate or similar tool is nothing short of a guess. It’s not a real indication of the value of your home. If you want another tool to guess the value of your home click my San Diego Home Value tool. If you want an accurate value contact us and we’ll do the work, oh and by the way we give free home value assessments. Free Home Value Checkup by The Lewis Team 619-981-3917.

Spring and Summer 2019 What’s Next

Three things to consider:

1. Interest Rates have dropped “may not stay low for long”

2. Most sellers are pricing their homes more realistically

3. Many buyers have been sitting on the sidelines since end of summer 2018

Good News and Bad News Effects Real Estate Decisions

We live in a time where what is said, “whether it’s true or not” seems to be believed. So for instance if a potential buyer reads something on their social media, they will usually believe it. If a buyer hears somewhere that it’s a bad time to buy, they believe it. It seems to be where things are today. Yes, it’s a general statement but when I ask buyers why they’re not buying right now they say that they want to wait and see where things are going. I ask them what event they’re looking for to prompt them to purchase a home. They don’t know but they say they will know when it’s the right time. Not only have I seen this phenomenon but many agents I speak to say the same thing. Negativity, true or not, has a huge effect on the market.

I believe that as soon as there starts to be good news concerning the San Diego Real Estate Market from a few sources like; social media, news print & television, friends and family then the buyers will be out in force again and the multiple offers on properties will again be the norm. Buying a property before the masses jump in is where the opportunity exists. It requires courage.

What’s going on in the Market Right Now

In the lower price ranges, entry level and first time home buyer properties, there is a good amount of business going on. As long as it’s a home in good condition that is priced at market value or close to market value then properties are selling and sometimes getting multiple offers. I spoke to an agent yesterday that told me her clients wrote an offer on a property in the $400,000 range that had 9 offers on it. So in some areas of San Diego and in some price ranges the market is on fire. The upper end properties or properties close to being at the upper end are not selling as good as the entry level priced homes. Although when they are priced where they should be based on solid comparable properties then they have a greater chance at putting up the sold sign in their front yard. Inventory in most areas and most price ranges has increased. 

To me it seems like a good time to get out there and buy something before the summer rush that may be right around the corner. It’s better to be the only offer on the property you want then to be one of many. If you want to see what it looks like for you to buy; purchase price, monthly payment, preview homes and/or condos, contact us we would love to talk. No obligation just for you to find out the facts. Contact us. 619-656-0655

If you’re considering selling your home this may also be the opportunity you have been waiting for. I mean you can’t sell your home if it’s not on the market, right. You also need a team of agents to market it correctly and get it sold. Contact us for a free home value assessment.

Flippers are Making Homes Better for Buyers

Flippers Flipping and remodeling homes in San Diego 2019-2020

There is and has been a lot of flipping homes in San Diego. Some flippers are better than others but overall it has had a good effect on neighborhoods by revitalizing older run down homes and making them look nicer and newer. We work with and know about many properties that are currently being remodeled by flippers that will soon be coming on the market. If you are looking for newly remodeled homes in San Diego County then please let us know. We can get you on our interest list for upcoming off-market homes.

San Diego Off Market Properties and Flips

Most buyers don’t want to go through the hassle of buying a home that needs a lot of work. I show homes that need a lot of work to buyers and they will almost always not want to take on the challenge. Some of them don’t even want to paint or replace flooring. But when I show a home that has been remodeled it’s a different story altogether. Most buyers love a property that is 100% ready to go with all of the remodel work, or most of it, already completed. In 2019 the flippers are going to be out in full force buying dilapidated homes and making them like new. 

Building Wealth Through Real Estate

You can never build wealth through real estate if you rent. You’ll be building wealth for the landlord and I’m sure they appreciate the fact that your there to help them do it. Is 2019 the year you start building wealth through real estate? Once you purchase a home with a fixed mortgage of usually 30 years then your monthly principal and interest stays the same. It’s locked in for 30 years. Rent on the other hand will almost inevitably go up. So if you’re paying rent of $2,500 a month now, in 10 years that number could be way higher, could be as much as $3,500-$4,000 month. If you bought a property and locked in a fixed rate mortgage it stays the same until you pay it off and then, here’s the magic, you own it … it’s yours. If you rent it’s your landlords. 

Buy or Rent a Home in San Diego California

Over time you may decide to make the home a rental and you will now be the landlord and you will have a renter that pays off your home’s mortgage. Doesn’t that sound pretty good? Once you rent the house out then you will be ready to buy your second home. You may decide to grow old in this home and pay it off or maybe turn this one into an investment property as well and now you have two properties that have renters paying off the mortgage for you. Pretty soon you’ll be making more in rent then what your mortgage payments, taxes, insurance and maintenance is. You can apply the extra to the principal and pay the home off earlier than 30 years. Now you have income from your property to use in your retirement to offset social security, 401k, savings, pension and other retirement monies. That’s what I mean by building wealth. 

And if you just buy one home and pay it off, you have a place to live when you retire and not have to pay the mortgage because you paid it off and you will not have to pay rent as part of your retirement expense. The main factor in this equation is time. The sooner you get started the better chance you have of attaining wealth in real estate and with the interest rates where they’re at in 2019 it’s a great time to buy a property on a 30 or 15 year fixed rate loan.

Thinking about buying or selling in 2019?

Contact The Lewis Team today!

619-656-0655