Don’t miss out on your dream home because of waiting for rates to drop. Interest rates are one of the key factors that home buyers are concerned about when looking for their next home. It is only natural to think it wise to wait for interest rates to drop before finally starting to look for a house. While it might sound like a smart move, there are a few things that you should consider: When rates go down, buyer demand usually rises. This means that you have to be ready to compete for available homes. This competition will potentially drive up prices beyond what you might see with higher inter ..read more

Here’s what you need to know about the state of our housing market. What’s been happening in our housing market so far this year? To find out, I’m diving into the latest numbers from the first quarter of San Diego’s market. Beginning with San Diego County, the median sale price has increased 6.7% since this time last year. Notably, 3.5% of that growth occurred within the first quarter of this year, which suggests our market is looking strong in 2024. The list-to-sales-price ratio has now surpassed 100% again, with properties often selling for $100,000 or more over the listed price. Based on th ..read more

Here’s what buyers and sellers need to know about housing inventory. What’s been happening with inventory in our market recently? There’s been a lot of confusion about this topic because there seems to be some confusion about whether they're rising or falling. Let's take a look at the numbers together. Inventory levels are slightly higher compared to last year, but it's only a small increase , around half a month's worth. Currently, we're at about 1.5 months of supply, down from the peak of 1.8 months last year. For reference, six months of inventory is considered balanced for buyers and selle ..read more

Find out what’s in store for the housing market and changes in the economy. What’s been going on in the housing market this year? There's been a lot of talk lately about a potential recession and its impact on the housing market. So, let's look deeper into the data and see what it tells us. Economists have been going back and forth on whether a recession is on the horizon. Based on some data from the Wall Street Journal, the economists were in agreement that there would be a recession. However, their views have shifted. This year, due primarily to low unemployment rates (currently at 3.7%), mo ..read more

Four tips to help sellers prepare for the spring real estate market. As we bid farewell to winter and embrace the upcoming spring season, many of you may be contemplating putting your house on the market or exploring potential sales. To guide you through this process and ensure a successful sale in the competitive spring market, I want to share some key elements you need to consider. 1. Start with a spring-cleaning mentality. Embrace the spirit of spring cleaning by decluttering and organizing your home. Consider a storage unit for items you wish to keep but don't necessarily need during the s ..read more

Waiting for spring could mean missing out on your ideal home. As the housing market evolves, the phenomenon of FOMO (Fear of Missing Out) plays a significant role in decision-making, especially when considering the timing of purchasing a home. Many buyers hold off during the winter months, anticipating the spring market's increased inventory will present the perfect home—a potential unicorn that might just be a myth. Recent trends, however, suggest a different strategy might be wise. Inventory has decreased by 20% from its November peak, marking a significant shift to just about a one-month su ..read more

Discover strategies for thriving in the 2024 housing market. As we step into 2024, the real estate landscape presents both challenges and opportunities. Reflecting on the trends of 2023, we observed a steady appreciation rate of about 2.5%, a slight increase in market inventory, and fluctuating interest rates, which seemed to stabilize towards the end of the year. The Federal Reserve's decision to halt the hike in interest rates suggests a potential for stabilization or even a reduction in rates, although this might not occur until after 2024. The aim is to get inflation under control, current ..read more

Here’s what you need to know about 2023’s housing market stats. Happy New Year! As we step into 2024, let's take a moment to reflect on the real estate market in 2023. Here's a concise market recap: The median sales price increased by 2.5% last year, indicating a more conservative level of appreciation compared to previous years, where double-digit appreciation was common. However, the market remains on a positive trajectory despite the concerns of those who thought it might be slipping. Inventory levels saw a significant 76% increase, although still relatively low when compared to the histori ..read more

My expert thoughts on real estate commissions and the big lawsuit. In light of recent court rulings and discussions around real estate commissions, I've been engaging in numerous conversations with past clients, friends, and family about this topic. I think it's crucial to address some misconceptions and provide clarity, especially in the current real estate landscape. Firstly, the core issue in these lawsuits isn't the commission paid to the listing agent but the lack of awareness among sellers that they're also paying for the buyer's agent. In places like San Diego, this is disclosed upfront ..read more

What homeowners in San Diego need to know about Assembly Bill 1033. I'd like to shed light on Assembly Bill 1033, explaining its purpose and highlighting some concerns. AB 1033 was recently signed by Governor Newsom, aiming to increase housing units by allowing homeowners to sell off an Accessory Dwelling Unit (ADU) on their property. The concept of creating more housing options, especially for entry-level buyers, is commendable. However, there are notable issues with the bill's loose structure. The relaxation of building codes for ADUs, while encouraging housing development, raises concerns a ..read more