There were 1,877 single-family homes sold during April in San Diego County, which is 296 more homes than the 1,581 that where sold in April of last year. The MEDIAN (midpoint) selling price was $330K, which is also up from $320K last month, but still much less than the $427K median price of April 2008. [...]
Articles Tagged ‘real estate news’
California Homebuyers Tax Break
A $10,000 state tax credit for purchasing a NEW California homes. A first time homebuyer in California can combine this with the federal first time homebuyers tax credit for a total of up to $18,000 in tax credits but only for a limited time…
Stimulate Investment to Revive Housing:
The Fed announced that it is considering a more direct intervention in the housing market with a plan that could drive NEW mortgage rates as low as 4.5%. Low interest rates on NEW mortgages are certain to result in additional buying activity, but will it be enough to make a difference? If the Fed limits these low rate purchase loans to owner occupied housing only, then it may not be enough.
Federal Bailout Redux
Earlier this week the Federal Reserve announced a massive $800 billion program intended to unfreeze credit markets. The program includes $600 billion to buy mortgage-backed assets. This plan sound vaguely familiar? The massive purchase of mortgage-backed assets is intended to stimulate the housing market
San Diego October Market Trends:
Sales Up & Prices Down
In brief, San Diego single family home sales have continued to rise for the fourth month in a row, nearly double last October’s numbers. This puts sales up almost 6% for the year. As in past months, prices continue to slide, with median prices down 1.9% since September, and off nearly [...]
Mixed Real Estate News for August
The August Market Report is now available on my website. The market numbers show a 15% increase in sales compared to last July, the first such increase since 2005. While this is good news, the median pricing shows a 30% decline, which is primarily due to the large number of foreclosed properties on the market. [...]