North County Market Statistics for December 2013

1. The median price for all North County home sales – attached and detached – decreased to $475,000 in November 2013 compared to $482,500 in October 2013.

a. Detached homes in North County decreased 5.44 percent to $539,000 in November 2013 compared to $570,000 in October 2013. Year-over median price for SFD homes in North San Diego County increased 11.25 percent, compared to $484,500 in November 2012, continuing a 16-month trend of year-over median price increases.

i. Detached home prices OUTSIDE North County decreased 1.38 percent to $429,000 in November 2013 compared to $435,000 reported in October 2013. Year-over non-North County median price jumped 15.98 percent compared to $369,900 in November 2012, continuing a 20 month trend of year-over median price increases.

b. Attached home prices in North County rose 10.67 percent to $350,000 in November 2013compared to $316,250 in October 2013. Year-over SFA North San Diego County median price jumped 30.84 percent, compared to $267,500 in November 2012, the 23rd month of year over price increases.

i. Non-North County attached home prices decreased 1.58 percent to $280,500 in November 2013 compared to $285,000 in October 2013. Year-over non-North County SFA median price increased 9.21 percent, compared to 256,850 in November 2012.

c. The number of North San Diego SFD listings (active and contingent) decreased 11.21 percent in November 2013 compared to October 2013, and decreased 5.12 percent year-over compared to November 2012 – the 27th straight month of year-over declines in listings.

The number of sold North San Diego County SFD units rose 13.95 percent in November 2013 compared to October 2013. Year-over sold SFD units declined 6.91 percent compared to November 2012.

i. Median days-on-market for single-family detached homes sold in North County increased to 32 days in November 2013 compared to 30 days in October 2013.

d. The HomeDex affordability percentage for all homes in North San Diego County – attached and detached – was 33 percent in November 2013.

North San Diego County HomeDexTM

 

 

North County Market Statistics for May 2013

1. The median price for all North County home sales – attached and detached – increased to $470,000 in April 2013 compared to $448,000 in March 2013. a. Detached homes in North County increased 1.9 percent in April 2013 to $535,000 compared to $525,000 in March 2013. Year-over median price for SFD in North San Diego County jumped 27.38 percent, from $420,000 in April 2012, continuing a nine-month trend of yearover median price increases (the last two months exceeding 25 percent). April 2013 reported the highest median price in North County since mid-2008. i. Detached home prices OUTSIDE North County increased 1.27 percent to $400,000 in April 2013 compared to $395,000 in March 2013. Year-over non-North County median price jumped 17.73 percent compared to $339,750 in April 2012, making a 13-month trend of year-over median price increases. b. Attached home prices in North County increased 4.1 percent to $330,000 in April 2013 compared to $317,000 in March 2013. i. Non-North County attached home prices remained constant at $265,000 in April 2013. c. The number of North San Diego SFD listings (active and contingent) rose 0.76 percent from March 2013 to April 2013, but decreased 38.83 percent year-over from April 2012 – the 20th month of year-over declines in listings. The number of sold North San Diego County SFD units increased 9.03 percent in April 2013 compared to March 2013. Year-over sold SFD units increased 8.91 percent compared to April 2012. i. Median days-on-market for single-family detached homes sold in North County fell to 19 days in April 2013 compared to 26 days in March 2013. d. The HomeDex affordability percentage for all homes in North San Diego County – attached and detached – decreased to 36 percent in April 2013 compared to 39 percent in March 2013.

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Home Ownership After Retirement

North County Home Ownership After Retirement

Owning San Diego North County home that meets your retirement needs is an important consideration in securing your lifestyle and security during your golden years.  Developing a sustainable plan that covers your living expenses, including mortgage payments, with spending and savings is a critical part of your retirement planning.  Balancing the security of your North County home’s equity with cash flow needs should be part of your plans.   Most retirees contemplate how active their income will allow them to be, while maintaining savings to support a long life and unexpected events.  Remaining in your home provides equity, safety and security.  Financial advisors recommend reducing living expenses by downsizing; some opt for second homes in senior living communities; others choose the security of assisted living arrangements.

Gary Harmon, your Real Living Lifestyles Realtor, and Craig Laursen, mortgage lender are knowledgeable, experienced and committed to helping North County over 55 home buyers and sellers make wise decisions affecting their retirement years.  We work with estate planners, financial advisors and counselors to support you.  We are excellent real estate negotiators and we know San Diego.  We’ll work to qualify you for mortgages that utilize retirement income; for homes located in age restricted communities and other considerations that affect real estate transactions for retirement age buyers.

Our goal is to be part of your retirement team to help you execute your retirement plans that involve home ownership and mortgage decisions.

To get more real estate information reguarding buying a San Diego North County home or to get lending information, contact Gary Harmon.

My appreciation goes out to Craig Larsen, a North County mortgage loan originator, for providing this article.

Getting Ready to Buy

Six tips for getting ready to buy:

  • Get a pre-approval letter from your lender of choice.  Gary Harmon has worked with many lenders in the past 23 years and would be glad to refer you to a lender experienced in San Diego North County.   A pre-approval letter makes you attractive to sellers, and most sellers will insist that a pre-approval letter accompany any offers.  By determining how much you can afford before you ever start looking, you can save yourself from falling in love with a home out of your price range.
  • Have your North County Realtor show you properties that meet your criteria in the neighborhood of your choice.  Your Realtor can ask questions and determine factors affecting the purchase price of your North County home such as relevant repairs, upgrades, or warranty information.
  • Be a fair negotiator.  Gary Harmon can provide comps and help you with this phase of the purchase.  Not all sellers are desperate or heading for foreclosure.  Short Sales and Bank Owned properties in the North County real estate market are usually fairly priced and are currently selling for list price and above.
  • Get your home on the market now if you need to sell before you buy.  Most sellers and no lenders are going to be accepting offers based on a contingency of you selling your home.  You should have a plan in place in case you sell your home and can’t find your next home immediately.
  • Don’t be overly demanding.  Write an offer with as few contingencies as possible.  Your offer will probably be compared with offers and you want your offer to be the one that is accepted.  Your North County Realtor, Gary Harmon can help you know how to write a purchase offer that will be competitive.
  • Last, but very important, select a North County Realtor that has experienced this type of market before, a Realtor that will put your interest first. contact Gary Harmon .

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Maximizing Your Sales Price

One thing I have learned from over 23 years of real estate sales is “buyers buy what they see and not what will be.” This might as well be written in stone just like the 10 Commandments. Sellers like to think that buyers can visualize what a home will look like if they fix it up. Buyers do visualize, they visualize how much it would cost to fix it up. They usually way over estimate the cost and then expect the seller to reduce their sales price to accomodate. One way to stop this problem is to work with a staging company.

VACANT NORTH COUNTY HOMES: We all know that homes that are sitting vacant feel uninviting. North County home buyers often have a hard time picturing themselves in the space. This also gives the buyers an opportunity to analyze every minor flaw. An empty San Diego home can often stay on the market for a long period of time, which is undesirable for everyone. and can sometimes lead to reducing the price of your listings. Let a staging company like Baker Interior Design Group help you stage your homes and speed up your profits.

So how much does staging cost? Well staging can cost anywhere from $4000-$10,000 or more. However prices vary depending on the size of your home and how many rooms need to be furnished.

OCCUPIED NORTH COUNTY HOMES: Baker Intrior Design Group offers consultations for home owners that want to maximize their sales price. This is done as a flat rate fee. $355 for a 2.5 hour Consultation Walk-Through which includes a Recommendations Page (a list of things to do or change, so the homeowner can get ready to sell their home). However, if the homeowner just wants a little advice, Baker provides a 1.5 our Consultation Walk-Through, verbally discussing any recommendations that can help stage the home using the furniture and accessories already in place. This costs $200.   Baker Interior Design Group can be reached directly by calling Diana Baker: 909-379-9376 or Christina Melendrez: (909) 260-2568.  See more at www.BakerIDG.com.

If you need recommendations on how to make your home more presentable, therefore maximizing your sales price, contact Gary Harmon your top North County Realtor. All content by .

North County Market Statistics for June 2012

The June 2012 HomeDex™ Report provides May 2012 San Diego housing statistics. Information in this report is used by permission from the North San Diego County Association of Realtors® (NSDCAR). Gary Harmon, your Real Living Lifestyles Realtor, has been a member of NSDCAR for over 22 years.

• The median price for all San Diego North County homes sales – attached and detached – increased from $365,500 in April 2012 to $390,000 in May 2012.
• Detached North County homes jumped 6.9 percent in May 2012 to $449,000 compared to $420,000 in April 2012. Year-over median price in San Diego North County decreased 2.39 percent compared to $460,000 in May 2011.
• The countywide median single family detached price increased 1.55 percent to $345,000 in May 2012 compared to $339,750 in April 2012.
• The number of San Diego North County single family detached listings (active and contingent) declined 1.73 percent in May 2012 compared to April 2012.
• The number of sold San Diego North County SFD units increased 7.89 percent in May 2012 compared to April 2012, following three months of double-digit percent increases, and jumped 27.43 percent year-over from May 2011 – continuing a 12-month trend of increased year-over sold units.
• Median days-on-market for single-family detached North County homes sold in North County decreased to 43 days in May 2012 compared to 51 days in April 2012.

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North County Market Statistics April 2012

The May 2012 HomeDex™ Report provides April 2012 San Diego housing statistics. Information in this report is used by permission from the North San Diego County Association of Realtors® (NSDCAR). Gary Harmon, your Real Living Lifestyles Realtor, has been a member of NSDCAR for over 22 years.
• The median price for all North County home sales – attached and detached – remained at $365,500 in April 2012.
• Detached homes in North County increased 1.2 percent in April 2012 to $420,000 compared to $415,000 in March 2012. Year-over median price in North San Diego County fell 6.67 percent compared to $450,000 in April 2011.
• The countywide median SFD price increased 1.12 percent in April 2012 to $339,750 compared to $336,000 in March 2012.
• The number of North San Diego SFD listings (active and contingent) declined 2.53 percent in April 2012 compared to March 2012.
• The number of sold North San Diego County SFD units increased 10.6 percent in April 2012 compared to March 2012 (after a 22.37 percent jump last month), and increased 10.2 percent year-over compared to April 2011- an 11-month trend of increased year-over sold units.
• Median days-on-market for single-family detached homes sold in North County decreased to 51 days in April 2012 compared to 57 days in March 2012.

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Finding the Perfect Tenant

Assuming you want to take full advantage of the historically high returns found in San Diego North County real estate,  you might decide to use the equity in your San Diego home to purchase one or more North County rental properties.  I can help you find the right  San Diego home to purchasel 

Some homeowners are anxious to put their equity to work, but are hesitant about owning North County investment properties.  Many believe it is difficult to find perfect tenants who will properly maintain their investment.  Finding the perfect tenant may be next to impossible, but finding a good tenant is certainly atainable.  You can choose to do it yourself or hire a Real Living Lifestyles agent.  If you decide to do it yourself, be prepared to:

  • Advertise-Have flyers printed and distribute them to the surrounding neighborhoods.  Put them in the community center, at local colleges, and run lots of newspaper ads.  Be prepared for calls at all the wrong times.
  • Applications-Have a good rental application and have prospective tenants complete them.
  • Credit Checks– In finding the perfect tenant, alway run a credit check on any tenant before renting your San Diego investment property.
  • Showing the house-Put signs in front of the San Diego rental and be prepared to take people through the home at their convience.
  • Rental Agreement-A rental agreement is a legal document that must be filled out correctly.  Use a good form.

If all of this sounds a bit discouraging, contact Gary Harmon, your top North County Realtor, and he will help you navigate throught the rental process. 

Remember, owning San Diego North County investment properties is another way you can maximize the advantages of owning real estate.

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North County Market Statistics March 2012

The April 2012 HomeDex™ Report provides March 2012 San Diego housing statistics. Information in this report is used by permission from the North San Diego County Association of Realtors® (NSDCAR). Gary Harmon, your Real Living Lifestyles Realtor, has been a member of NSDCAR for over 22 years.

• The median price for all San Diego North County home sales – attached and detached – increased to $365,500 in March 2012 compared to $357,500 in February 2012.
• San Diego North County detached homes remained unchanged at $415,000 in March 2012. Year-over median price in San Diego North County dropped 7.81 percent compared to $450,165 in March 2011.
• The San Diego countywide median single family detached price increased 2.75 percent in March 2012 to $336,000 compared to $327,000 in February 2012.
• The number of North San Diego County single family detached listings (active and contingent) declined 2.4 percent in March 2012 compared to February 2012.
• The number of sold San Diego County SFD units increased 22.26 percent in March 2012 compared to February 2012 (after a 20.37 percent jump last month), and increased 3.35 percent year-over compared to March 2011. Year-over sold units have increased in nine of the last 10 months.
• Median days-on-market for single-family detached San Diego North County homes sold decreased to 57 days in March 2012 compared to 66 days in February 2012.

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California Foreclosure Rates

The chart below shows California foreclosure rates by county.  As you will see San Diego County and especially San Diego North County has done well when comparing it to the rest of the state.  Only 1 in 27  households have been foreclosed on in San Diego County compared to 1 in 10 in many counties.  If you are looking for a distressed home to buy, you might want to consider a San Diego foreclosure homes, short sales, REO’s or bank owned homes. 

If you are interested in finding  San Diego foreclosure homes or other distressed properties, contact Gary Harmon, your top North County Realtor.   See up to the minute San Diego North County homes market statistics here.

Ever wonder which lenders made the most bad loans, see San Diego Short Sale Lenders.

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