Let’s get into the data for our local San Diego housing market. The market shot up again here in San Diego. Let’s find out why. Hey everyone, Curtis Chism with the Chism Realty Group, third-generation San Diegan and local real estate agent, helping people buy and sell real estate here in sunny San Diego. If I can help you buy or sell, please reach out. Let’s have a conversation about how I can help you. And let’s get right into the market data about what is going on in the San Diego real estate market. We are up another 3.4% as of February 2022. That’s on top of 4% gains in January of 2022. S ..read more

Here’s why you should always have your own agent when buying a home. Are you considering working with the listing agent to buy a home because you think you’ll get an advantage in the transaction? There are two main reasons why you should never do that: 1. Responsibility to the seller. The listing agent has a fiduciary responsibility to the seller, meaning their No. 1 priority will be getting them the highest price and best terms in the transaction. Even though they’ll be working with you too, the seller will be their main concern. 2. A strong relationship with the seller. Most likely, they ha ..read more

Let’s go over all the most recent stats for our housing market. Where are home prices headed in 2022? Today we’re going to look at the January 20222 housing market using our data from December. The number one thing on peoples’ minds is rising interest rates. Rates have increased from about 3.1% to 3.64%. These increases put a lot of pressure on people to buy a home quickly and lock in these rates.  We don’t know where interest rates are going exactly, but inflation is at an all-time high, so they will likely rise. I think we might hit 4% soon, but some experts say we will hit 4% and drop ..read more

Here’s how so many people are buying homes with cash lately. How are all these people buying homes with cash? Where is all the money coming from to buy homes with cash or make massive down payments? I get asked these questions quite a bit, so I’m answering them for everyone here today. Here’s just one example: Let’s say someone bought a home in the down market of 2014 and paid about $400,000. Fast forward to today, and they can sell that same home for around $750,000 due to home appreciation. They now have an extra $350,000 of equity plus whatever their original down payment was that they can ..read more

Here’s a look at what’s been going on in the market and what’s to come. The high-balance loan limit just increased to almost $880,000 in San Diego County—what does that mean for the housing market as we head into 2022? Today I’ll share the latest stats from our market and give you some insight into what we can expect from the coming year. The median home price for detached homes has held steady at around $860,000 for the last few months. The attached home market—condos and townhomes—increased last month by $30,000. That’s over a 5% gain!  So why is this all happening? Well, the data show ..read more

Here’s why Zillow had to cancel their iBuyer program recently. Zillow just ended its iBuyer program; what does that mean for house prices here in San Diego? The whole premise of how Zillow bought houses was based on their Zestimate, an algorithm that calculates the price of your home. They believed in the algorithm, and they went all-in on it, buying homes that it said were a good value.  Over this last year, they’ve lost half a billion dollars through this program by overpaying for houses. As real estate agents, we always knew that the Zestimate was off. Sometimes it was spot on, but ot ..read more

What do rising rates and low inventory mean for you? Inventory is typically a big driver of home prices. The supply of homes decreased by 50% year over year, and home prices have increased by 16% in that span. If you’re looking to sell a home right now, that means you’ll have very little competition. As inventory begins to rise, that competition will increase, and  prices will dampen. In June and July, the median home price for single-family homes dropped to $855,000 and then to $850,000 in August. In September, it jumped up to $860,000. Part of the reason for this was a lack of home sal ..read more

How the eviction and foreclosure moratorium’s end will affect home values.   How will the ending of the eviction and foreclosure moratoriums impact home values? Read on to find out. Since the start of COVID in March of 2020, it’s been impossible to evict a tenant for non-payment of rent unless they’re doing something illegal there. That policy ended on September 30. There certainly are landlords who are ready to get rid of their properties and stop being a landlord or move to other states where they’re more landlord-friendly. When that happens, we’ll see some additional homes come on the ..read more

Here’s what’s going on in the San Diego market and where we may be heading. I was recently interviewed about how our real estate market is doing and where it may be heading. Our prices have increased by over 20% in the last year here. But if you want to predict changes in any market, you need to understand the supply and demand equation. Supply and demand are the basis for how the real estate market works. We dive into that and much more in this video exploring the housing real estate market in San Diego! We also cover: Will our kids be able to own a home or will only Wall Street and only the ..read more