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Downtown San Diego Real Estate News
The following section of the website is devoted to news articles that have information or an impact on the Downtown San Diego Real Estate Market. I always tell clients to not “take my word for it”. I encourage clients to do their own research and form their own opinions. These are the same resources that I refer to, in order to collect my opinions and facts on the state of the Downtown Market and lifestyle. In this section, it is our opinion that the articles we include do not only present one side of the story. We include EVERY interesting article that we find…not only the ones that shed a positive outlook on the state of the Downtown Market. For your organizational convenience, we have separated the articles into three sections: Downtown, San Diego County, and National Real Estate/Urban Living General. Many of these articles are used in our blogs and monthly newsletters to stimulate thought and debate.
Please feel free contacting us should you have any questions, comments, or opinions on any of the follow articles. We have done everything possible to make this an interactive site for Buyers and Sellers of Downtown Real Estate. To that commitment, please let me know if you have come across an article (published or personal) that you feel needs to be included on the website. If Downtown is, or is going to be your home, then let us share your information with the Downtown San Diego Urban Community!
2012-05-17: No New Construction On the Plans for Downtown San Diego
The Union Tribune and the article "Sluggish nonresidential construction bodes ill for economy" is reporting that construction of new buildings are not on the plans for the near future. The new courthouse in the Gaslamp District is one of the few buildings currently under construction and this one is almost complete. Click the following link for more information.
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2012-05-16: Bank of America is Offering Homeowners Relocation Assistance
The real estate market has recently seen banks encouraging home owners to proceed with short sales as the foreclosures process seem to be much more expensive. According to Realtor Magazine and their recent article BofA Offers Up to $30K to Owners for Short Sales, Bank of America has offered their home owners a relocation assistance that could be anywhere from $2,500 to $30,000 should they complete a short sale. One of the reasons that the banks are starting to push for short sales in front of foreclosures is that short sales usually sell for more that homes that are in foreclosure.
2012-05-15: Strict New Tools Are Being Used By Mortgage Lenders
The Los Angeles Times and their recent article Lenders are using a variety of tools to prevent mortgage fraud are informing that new tools are being used by mortgage lenders where strict rules apply to get approved. Not too long ago, home buyer could easily get away with white lies regarding improved job descriptions, higher income and stating that they would use the home as a primary resident even though it was not true. Todaythe game has changed to being very strict and a challenge to get approved for a home loan.
2012-05-14: Refinancing Can Become Easier
The Obama Administration reported last week that they are trying to improve refinance programs out there to help homeowners get approved. The Daily Real Estate News and the article "Obama Calls for Changes to Make Refinancing Easier" is informing us that the Congress could remove more barriers to make it easire for more homeowners to get new mortgages.
2012-05-13: Difficult To Get Approved For A Mortgage
The National Association of Realtors and their recent article Bernanke: Mortgages Still too Difficult to Get are saying that a mortgage is still very hard to get approved for. Any changes for the requirements are not likely to occur anytime soon. Banks are continuing to be very cautious with issuing new mortgages. You may think that homeowners that have the 20 percent down and have their credit in good status might have a chance of getting easily approved but in some cases even borrowers in this state could face denied loans unless they have extremely excellent credit.
2012-05-10: Home Affordability Refinance Program is Helping Homeowners Reduce Their Interest Rates
The Obama Administrations Home Affordable Refinance Program has made some changes and is here to help some homeowners who have made payments on their struggling mortgages by getting them lower interest rates on loans. The article Mortgage-aid revisions paying off for lenders and some borrowers posted in the Los Angeles Times are mentioning that the program has resulted in mixed feelings. Some homeowners who are getting the lower interest loans are approved even though they owe more than what their homes are worth and are getting stuck with higher rates as banks are refinancing only their own borrowers. Rates would definitely go down if banks would compete against each other.
2012-05-09: Fannie & Freddie Joins Keep Your Home California Program
According to The Los Angeles Times and the article Fannie, Freddie are set to reduce mortgage balances in California the mortgage giants Freddie Mac and Fannie Mae has signed up to join the Keep your Home California program. The program is a $2 billion program designed to prevent foreclosures. The program has recently changed a requirement where banks will match the tax payers funds at the time when the home owner receives reductions through the program. Some borrowers through Fannie and Freddie might notice that their mortgages declined through the principle reduction.
2012-05-07: Rental Prices Are Projected to Hit Record Numbers
According to Realtor Mags article Survey Shows More Reason to Buy Than Rent, 33 percent of Americans expect home prices to go up in the next year. Fannie Maes survey also shows that more Americans think that rental prices will go up to a record number in the next year to 4.1 percent.
2012-05-06: North Embarcadero Visionary Plan 1 - Update
The Port of San Diego is in their article "North Embarcadero Visionary Plan Phase I Construction Update: May 4, 2012" announcing that the project is going forward as planned. For the following three months, West Broadway will be closed to east going traffic as the median and southern half of the street is undergoing construction.
2012-05-04: New All-time Low Mortgage Rate
Home ownership has become more affordable for those looking to invest in Downtown San Diego Condos and Lofts. According to the Realtor Mags article Home Buying Gets Another Boost in Affordability the new all-time record low 30 year fixed rate mortgage averaged 3.84 percent this week.
2012-05-03: The Real Estate Market Is About to Turn Around
Are you wondering if now is the best time to buy a Downtown San Diego Condos of Downtown San Diego Loft? Are you thinking that home prices will go down? Economists say that if you are thinking about buying a new home, you will have to act fast as the housing market is about to turn around. For more information about the changing market read Realtor Mags article Is Housing as cheap as itll ever Get? by clicking the following link.
2012-05-01: The Real Estate Market has Become Very Competitive
The beginning of 2012 has showed the Real Estate Market that there is more competition out there. The National Association of Realtors is in the article Bidding Wars Catch Buyers Off-Guard reporting that bidding wars has increased in many markets around the country. Many thought that the bidding wars were over with but they seem to be increasing as many homes receive several offers. One reason for the increasing bidding war activity could be the low inventory we are experiencing all over the U.S.
2012-04-30: Pending Home Sales up in March
According to the National Association of Realtors article Housing market has turned the corner, the pending home sales index show that March had the highest level of pending existing homes sales in the last two years . The pending homes include contract signed by still not closed. March is showing a number equal to 101.4. The last highest number occurred in April of 2010 where the number was 111.3. Read the full article by clicking the link below.
2012-04-29: New Downtown San Diego Library Top Beam At Place
Autographed by workers and supporters, the top beam has been set into place of the new Downtown San Diego Library. The other day, an old construction ceremony was held at the top of the building as the top beam was lifted 9 stories up to be put in place. As 633 days has gone by since ground breaking the new library is now 9 months away from completion. Read the San Diego Union Tribunes article Autographed beam tops out new library by clicking the link below.
2012-04-27: Green Build Project at Lindbergh Field Half Way Completed
The Green Build Project over at Lindbergh Field's International Airport in Downtown San Diego are on schedule and have completed the goal of being half way done by the end of April. Their goal is to be fully completed and within budget around the summer of 2013. Read the San Diego Business Journals article Airports Green Build Reaches Halfway Pointfor more information by clicking the link below.
2012-04-26: Increasing Home Sales Show Sign of Recovery
The National Association of Realtors are in the article March Pending Home Sale Rise, Market Recovery reporting that pending home sales increased in the month of March of 2012. Compared to 2011 the number has improved drastically and this is another proof that the housing market is starting to recover. Click the following link to access their article for more information.
2012-04-25: Short Sales to Pick up After Freddie Mac Contributes Funds
Freddie Mac has contributed more funds for a federal program to help 18 struggling housing market states. The funds will help home owners complete short sales so it does not go into foreclosure. They will provide assistance through loan modification, mortgage principle deduction, unemployment and short sale assistance. (Read more: The National Association of Realtors article Freddie Reallocates More Funds to Boost Short Sales by clicking the link below).
2012-04-24: No More Low-Ball Offers
A recent study, performed by the National Association of Realtors, has showed that low-ball offers have decreased compared to last year. As we see fewer homes on the market, many sellers are trying to price their homes realistically. Last year, buyers would offer about 25 percent less than the listing price. This year, buyers are offering a purchase price close to the listing price as they know the competition is out there. Read the Daily Real Estate News article Low-Ball Offers a Thing of the Past? for more information by clicking the link below.
2012-04-23: San Diego Convention Center Expansion Vote
Local hotel owners in Downtown San Diego are about to vote about the proposed San Diego Convention Center Expansion in the Marina District. About 27 million votes are to be counted for the $520 million project. Read the San Diego Union Tribune's article Convention Center balloting ending in 1 week by clicking the link below for more information.
2012-04-19: Home Prices for Resales has Gone Up
The National Association of Realtors is in their article Report signals start of broad-based housing recover reporting that the median home prices for resales went up 5.6 percent compared to a year before where the median price was $189,900. Some say that these numbers indicate a beginning to the housing recovery. Click the link below to access the article for more information.
2012-04-17: Mortgage Rates Dropping
The 30-year fixed mortgage rate is almost reaching the record low number that we seen in February (3.87%). It fell from 3.98% to 3.88% the last week. For more information click on the link below to read the CNNMoneys article Mortgage rates tumble back into record territory.
2012-04-16: Tough to Qualify for a Mortgage
It seems like it has become harder to qualify for a mortgage this year compared to 2010. Having the high standard criteria such as a credit score, debt-to-income ratio, equity or down payment is definitely a must nowadays. Read LA Times article Qualifying for a mortgage has gotten much tougher, analysis shows for more information by clicking the link below.
2012-04-15: Mortgage Settlement Approved
The $26 billion mortgage settlement agreed to by the five largest mortgage lenders in the nation has been approved. Speeding up the foreclosure process by stict guidelines for banks to follow when repossessing homes is what the settlement is intented to help with. Read CNNMoney's article "Flood of foreclosures to hit the housing market" for more information by clicking the link below.
2012-04-13: Mortgage Rates are going down
The lowest rate for the 15-year mortgage was set on March 8 with 3.13 percent. It slight went up a little but went down to 3.21 percent this week. The 15 year mortgage rate is very popular for home owners trying to refinance and pay off their debt. Read the Los Angeles Times article Mortgage rate drop; 15-year fixed at record low by clicking the link below.
2012-04-11: Fannie and Freddie Principle Reduction
Taxpayers may save money if Fannie Mae and Freddie Mac agree on offering principal reductions. To read CNNMoneys article Fannie, Freddie regulator still resists principle reduction click the following link for more information.
2012-04-06: The 30-Year Mortgage Rate Is Keeping Steady
Last weeks average 30-year mortgage rate showed 3.99 percent. This week not too much has happened with the numbers as it is averaged 3.98 percent. Read the Los Angeles Times article Freddie Mac: 30-year mortgage rate remains just under 4 percent by clicking the link below.
2012-04-05: Investors are Ready to Buy in Bulk
As the real estate market include distressed properties such as foreclosures as well as the home prices being low, large investors are taking the opportunity to buy in bulk and using them as investment homes occupied by tenants. For more information read the New York Times article Investors are looking to buy homes by the thousands by clicking the link below.
2012-04-03: Fewer Home Loans Completed by Mortgage Servicers in February
February indicated that mortgage servicers completed 20 percent fewer modifications compared to the month before. According to Hope Now alliance about 44,500 loans were completed compared to 55,700 in January. To read HousingWires article Private mortgage modifications drop 20 percent in February click on the link below.
2012-04-02: Downtown San Diego Information Center Closed
The Downtown San Diego Information Center located in Horton Plaza in the Gaslamp District closed its doors Tuesday due to lack of funds as well as the dissolution of the Centre City Development Agency. Read the Union Tribune's article "Redev's end means closing of Downtown Information Center" by clicking the link below.
2012-04-01: A Low Appraisal Could Stop Your Home Sale
Low appraisals can have a huge effect on how much the bank will be able to finance. We have seen this more recently as the appraisal might be coming in lower than what has been accepted by both seller and buyer leaving the buyer to come up with the difference. For more information click on the link below to access CNN Money's article "Low-ball apprisal: Mortgage denied".
2012-03-31: Mortgage Rates Back to Under 4%
Last weeks mortgage rates made a big jump but this week it is down to under 4 percent again. Want more information. Click on the link below to access the Realtor Magazine's article "30-Year Mortgage Rates Slide Back to Below 4%".
2012-03-30: Foreclosures Fell in February
The national foreclosures reported for the month of February totaled 66,000 applications. This is 5000 less foreclosures compared to the month before. For more information click the link below to access the Realtor Magazines article National Foreclosures Drop in February.
2012-03-28: New Requirements from the Housing Administration
Starting April 1st, 2012 the Housing Administration have changed their requirements and will from now on not insure mortgages to borrowers that have ongoing credit disputes of $1,000 or more. To read the Realtor Magazines article New FHA Rule to 'Kick Some Buyers Out'?click the link below for more information.
2012-03-27: Decrease in Home Sales Agreements
We have seen a decrease in home sales agreements as it declined with 0.5 percent in February. Januarys number read 96.5 and this is as high its been since April 2010. To read more click on the link below to access the San Franciscos Chronicles article Contracts for US homes dipped in February.
2012-03-24: Tax Saving Tips
Mercury News is in their article "Tax benefits for home owners" giving you specific tax tips especially if you are a home owner. Click the follwing link for more information.
2012-03-20: IRS Will Not Double Check Tax Deductions
The California state Franchise Tax Board informed home owners back in January that they would double check those who would deduct Mello-Roos and property related fees that might not be legally deductable from state income taxes. Recently they changed their mind saying that they will have to rely on home owners honesty in what they will report. Read The Orange County Registers article California wont verify property-tax write-offs for more information by clicking the link below.
2012-03-19: Home Owners Worried About Falling Home Prices
HousingPredictor completed a recent online survey among 1,000 home owners and almost half of them are worried about the falling home prices. They said that they would most likely walk away from their mortgage if this continues. Read Realtor Magazines article Poll Reveals More Home Owners Weigh Strategic Default by clicking the link below for more information.
2012-03-18: Sailor Statue To Be Replaced
The sailor statue down by the waterfront in the Marina District of Downtown San Diego will be replaced by a bronze version and this has upset some of the art committee members. Three members turned in their badges at the last member meeting held last week indicating it was their last meeting. Read more in the San Diego Union Tribunes article Artists' "Kiss" resignations reignite debate over port's art decisions by clicking the link below.
2012-03-16: Foreclosure Filings Are Falling
Foreclosure filings have been falling as San Diego County measured a drop of 9% in February. Nationwide the filings fell 13% compared to last year. To read more click on the Los Angeles Times article Foreclosures fall in California and U.S. -- but it may not last by clicking the link below.
2012-03-15: Home Prices On The Rise
The first increase in nine months when it comes to home prices occurred last month in February as the inventory of homes listed for sale rose with 0.5 percent from January leaving the number to be 1.78 million. To read the Wall Street Journals article Spring ritual returns: for sale signs sprout click the link below to access more information about the current real estate market.
2012-03-12: Americans Want to Invest in Homes
In a recent research, Americans are saying that if their finances would improve they would buy a home. To read Realtors Magazines article What do Americans want most once finances improve? by clicking the link below.
2012-03-10: Mortgage Payers Are Paying On Time
According to The New York Times, mortgage payers are pretty good about paying on time as fewer payers are delinquent and in foreclosure. Read their article "Paying on time" for more information by clicking the link below.
2012-03-09: Lane Field Project in Downtown San Diego Is ready To Move Forward
The Port Of San Diego has approved the plans for the new project over at Lane Field in the Columbia District of Downtown San Diego. The project includes a public park and a plaza. Read the San Diego Business Journal's article "Port District Approves Concept Plans for Lane Field Park" for more information by clicking the link below.
2012-03-08: Mortgage Rates Are Still At Record Low
Freddie Mac is reporting that the mortgage rates are still keeping their record low rates as the 30 year fixed mortgage rate average 3.88 percent. Read more in the San Diego Union Tribune's article "Mortgage Rates Keep Dancing with Record Low" by clicking the link below.
2012-03-07: Mayor Wants CCDC to Remain in Downtown San Diego
Mayor Jerry Sanders spoke at a local real estate conference last week and gave his opinion that he thinks that the Centre City Development Corporation (CCDC) should remain in business. For more information read the San Diego Union Tribune's article "CCDC should remain, expand citywide, mayor says".
2012-03-06: FHA Applications Has Been Increasing
FHA backed mortgage applications has been increasing with 14.9 percent since December 2011 and with 22 percent from January 2011. Current loan refinance applications have increased with 26.3 percent from December 2011 and with 44.5 percent since January of 2011. For more information click the following link to read the Realtor Magazines article Application for FHA-Backed Mortgages Rise.
2012-03-05: Charger Stadium in the East Village Still on the Agenda
The plans of having the new Charger Stadium in the East Village of Downtown San Diego seem to be on the plans as it would cost about half compared to building the stadium over by the water front in the Marina District. Read the San Diego Union Tribunes article Sanders pegs waterfront stadium cost at $2.5B by clicking the link below for more information.
2012-03-01: Fannie Mae & Freddie Mac - Reducing Principles Not Ideal
Fannie Mae and Freddie Mac were thinking about reducing the principle on loans under water but regulators find that this could be negative for tax payers. To read the Los Angeles Times article Principal reduction isn't ideal fix for foreclosures, official says click on the link below for more information.
2012-02-27: Homes for Sale has been Declining
The Wall Street Journals article Where are all the home sellers is talking about that homes listed for sale during the first month of the year dropped with 6.6 percent if you compare to the month before. There are buyers out there but the sellers seem to be hard to find. Click the link below for more information.
2012-02-23: Home Prices Have Been Going Down
CNN Money is in their article Home prices at lowest point in more than 10 years talking about that the median home price for January 2012 and how it fell with 2 percent. This helped to increase the number of homes sold and is lowest it's been since November 2001.
2012-02-22: Home Sales are Increasing
The San Diego Union Tribune is in their article "Home sales jump more than 4 percent in January" talking about that home sales has increased in the first month of 2012. The sales rose with 4.3 percent and this is the highest its been in the last two years. To read more click on the link below.
2012-02-21: Low Inventory in Downtown San Diego
The Downtown San Diego real estate market as well as the real estate market nationwide has seen a decrease in inventory. Downtown San Diego currently has fewer than 200 units for sale and this is unheard of. We all know what happens when inventory is lowprices go up! Read the Realtor Magazines article Housing Inventories Drop, List Prices Rise for more information by clicking the link below.
2012-02-20: Big Interest in High Rises
Many say that High-rises is an American thing but lately the interest in building these tall complexes has increased as we see other parts of the world in High-rise construction. Professor Kurt Hunker with the NewSchool of Architecture and Design located in Downtown San Diego is welcoming the public for a free forum this coming weekend. Click on the San Diego Union Tribune's article "High-time for high rises" link below to get more information about this event.
2012-02-19: Sailor Statue in Downtown San Diego Might Be Removed
The 25 foot high "Sailor Statue" that is placed right by the waterfront in the Marina District in Downtown San Diego might be removed. The ort of San Diego is saying that if supporters can raise $1 million the statue will stay. Read the San Diego Union Tribune's article "San Diego waterfront plans advance" by clicking the link below for more information.
2012-02-18: Adjustable Rate Mortgage Alternative
As you all knowthe 30 year mortgage rate has been keeping itself at record low and many home owners are finding value with this. Some home owners who might not be able to relocate or invest right now are considering an adjustable rate mortgage with a fixed interest rate for several years. Read New York Times article A Fixed Rate Alternative by clicking the link below for more information.
2012-02-17: Record Low Rate Is Keeping Itself Steady
The 30 year mortgage rate is keeping the 3.87 percent very steady as it has not changed in the last three weeks. This long term rate is the lowest since the 1950s. Read the San Francisco Chronicles article Rate on 30-year mortgage stays at record 3.87 pct for more information by clicking the link below.
2012-02-16: Buying a Home is Affordable
CNN Money is in their article Home buying: Most affordable in decades saying that buying a home now is more affordable if you compare to the last twenty years. Of course the record low mortgage rates as well as a decline in home pricing have something to contribute to the affordability. To read more click the link below.
2012-02-15: New Hotel to Be Built in the Columbia District
Downtown San Diegos Columbia District used to be home to the Padres and right in that spot a plan to build a new hotel are on the horizon. It is called Lane Field, and a 400 room hotel tower with 14 stories and park space has been given the thumbs up from the Port of San Diego. Read the San Diego Union Tribunes article New hotels to rise on Lane Field for more information by clicking the link below.
2012-02-14: Short Sale Cash Incentives
According to Realtor Magazine's article "Banks Offer More Cash Incentives for Short Sales" home owners who are selling their short sales are now being offered cash incentives up to $35,000. The bank is offering this to avoid a costly foreclosure transactions.
2012-02-13: Navy Pier Might Not Get Wing Sculpture
The Navy Pier located in the Columbia District of Downtown San Diego has had up for suggestions a 500 foot tall wing sculpture to be built right on the edge to the water front. The Port of San Diego has other plans on the books. They are suggesting a 500 space parking garage with a park located on top. Read the San Diego Union Tribunes article Port staff backs parking garage but not 'Wings' by clicking the link below for more information.
2012-02-12: The 30 Year Mortgage Rates Are Still Strong
The 30 year Mortgage Rates are still going strong as it averaged 3.87 percent this last week. This rate is matching lasts weeks record low rate. To read more visit Realtor Magazine's article 30-Year Mortgage Rates Hold at Record Lows click on the link below.
2012-02-09: Foreclosures Reduced in 2011
Market studies shows that foreclosures are slowing down a bit as the year of 2011 shows a decrease by 8.4 percent. Some say that lenders are being more carefully and are taking their time with the paperwork involved to get homes through the foreclosure processes. Read more in RealtorsMagazine.com article Is the Foreclosure Crisis Finally Fading? by clicking the link below.
2012-02-08: Find The Exact School District For Your Home
Education.com has come up with a new tool where you can search for the specific school district for where your home is located. To read inmanNEWS article "Find exact school district assignment info for any US home" click the link below.
2012-02-07: Housing Market is Improving
Realtor Magazine is in their article "List of Improving Housing Markets Grows" talking about that the housing market is showing signs of improvement. They say the last 6 months has showed improvements of employment, housing prices and housing permits. Click the link below to read more.
2012-02-06: Lower Mortgage Principle with Fannie & Freddie
Members of the House Financial Services Committee Democrats has been in the process of trying to get Fannie and Freddie Mac to lower their mortgage principles for home owners in trouble. To read the LA Times article "Lawmakers push Fannie, Freddie to write-down mortgage principal" click on the link below.
2012-02-02: New Financing Program for Home Owners Who are Current on Payment
For home owners who are current on their payments the Obama Administration has released a plan to set up a new financing program. This program includes a Bill of Rights that would help the home owner to access mortgage discloser forms so that they can prevent foreclosure. Read the LA Times article White House details mortgage refinancing plan for homeowners for more information by clicking the link below.
2012-02-01: San Diego Redevelopment Agency is No Longer in Business
The San Diego Redevelopment agency passed on $6.5 billion of obligations to Downtown San Diego as it went out of existence yesterday. Read the Union Tribuns article " Redev agency passes on $6.5B in projects" for more information on the link below.
2012-01-31: Smart Corner Studios Selling For As Low As $98,000
News10.com announced yesterday that the Smart Corner complex located in the northern part of the East Village in Downtown San Diego is now selling studios for as low as $98,000. To read more click the link below.
2012-01-28: Mortgage Rates Are Going Up
As the 30 year fixed mortgage rate has been down for a while now we all thought it would last but during the last week the rate is starting to go up. Right now the rate is at 3.98 percent so its still under 4 percent. Read more about the increase in Realtor Magazine by clicking the link below.
2012-01-27: Mortgage Rates Might Stay Low Until 2014
It seems like the U.S. economy still needs some help as the Federal Reserve will keep the short-term interest rate near zero all the way to 2014. The National Association of Realtors are in their article Fed Vows to Keep Rates Low Until 2014 talking more about this topic. Click the link below for more information.
2012-01-26: Foreclosures are Shrinking
According to the National Association of Realtors article Foreclosure Sales are Down, Average Discount 34% about 20 percent of all sales in the country in the last quarter of 2011 shows to be foreclosures. As the second quarter of 2011 shows that the foreclosure sales were 22 percent we can see signs that the foreclosure sales are getting fewer. Read more by clicking the link below.
2012-01-24: Downtown San Diego Convention Expansion Moves Forward
A special district is about to be created by the San Diego City Council that might help finance the Expansion of the San Diego Convention Center located in the Marina District in Downtown San Diego. Read the San Diego Union Tribune's article "Convention center expansion moves forward" by clicking the link below.
2012-01-23: First Time Home Buying Tips
San Diego's News10 is in their article "First-Time Homebuyer's Guide" giving you some really good advice on how to start your journey on how to invest in Real Estate. To read more click the link below.
2012-01-22: New Ideas For Downtown San Diego Waterfront
The San Diego Union Tribune wrote an article about how they think Downtown San Diego should start to think big with no limitations. They are suggesting that the waterfront become a place where the new Charger Stadium, public parkland, public beach and promenades would go. To read their article "Editorial: Think big New vision needed for downtown waterfront" click on the link below.
2012-01-21: Downtown San Diego Real Estate Tax Rules
Time has come when we are in the process of preparing for tax returns and if you are wondering what could be deductable when it comes to your Downtown San Diego Condo or Downtown San Diego Loft read 10News article "Tax Tips: Real Estate Rules" for more information and suggestions on the link below.
2012-01-20: 30-year Mortgage Record Low
This last week the 30 year fixed mortgage rate fell down to 3.88 percent. The old record was 3.89 percent. To read the Los Angeles Times article "Rate on 30-year mortgage down to record 3.88%" click on the link below.
2012-01-18: Strong Interest in Refinance Applications
The Mortgage Bankers Association has reported that a strong interest in finance applications has been driving up the numbers of new loans. They actually jumped with 23 percent in the U.S. if you compare this week to the prior. Read Wall Street Journals article Refi Activity Hits Highest Level Since August for more information.
2012-01-15: Early Mortgage Payment Might Save Money
Should you decide to pay off your home mortgage early you will net interest savings compared to making monthly payments for a set period of time. Read MercuryNews article "Real: Pay off mortgage early to save money" for more information by clicking the link below.
2012-01-13: 2011 Foreclosures Fell to Lowest Level Since 2007
CNN Money is in their article "Foreclosures fall to lowest level since 2007" saying that Foreclosure filings during 2011 decreased to a level equal to the numbers in 2007. Click the link below to read their article.
2012-01-12: San Diego County Property Tax Due Today Jan 12, 2012
For more information about the deadline on paying your property taxes visit the County of San Diego Treasurer - Tax collector on the link below for more information.
2012-01-11: Home Prices Down with 5.9% Compared to Last Year
Home prices in California including Downtown San Diego had the 7th biggest drop when comparing to other states in the U.S. for the month of November 2011. This is a decrease with 5, 9 percent compared to November last year. For more detailed information click on The Orange County Registers article Calif. house price drop 7th biggest in U.S..
2012-01-10: A Slight Increase in Home Prices
Fannie Mae reported that a slight increase in home prices occured in the last month of 2011. They also think that home prices will rise with 0.8 percent during 2012. Read the Wall Street Journal's article "Survey: Mood Improves on Home Prices" for more info.
2012-01-09: The Chargers New Stadium is Put on Hold
The Chargers will be staying in Qualcomm and playing their games there for one more year. They have decided not to exercise their option to leave for now but are still considering a future option in the East Village in Downtown San Diego.
2012-01-08: Downtown San Diego Projects from 2012 - 2016
Read the San Diego Union Tribune's article "San Diego's key building projects, 2012-16" for more information on the major projects that are already in session or are about to start in Downtown San Diego. See link below.
2012-01-07: A Good Time to Get a New Mortgage
The opportunity for new homebuyer and for the ones who would like to refinance is here as the mortgage interest rates that are near all time low most likely continue throughout 2012. MercuryNews.com is in their article Real estate: 5 reasons to get a new mortgage in 2012 giving you a couple of reasons why it would be a good time to get a new mortgage. To read more, click on the link below.
2012-01-06: 30 Year Mortgage Rate Is Back to 3.91%
The record low 30 year fixed mortgage rate of 3.91 percent is back. As we all knowthe average rates has been really low the last couple of months and the beginning of the New Year 2012 is following 2011s footsteps when it comes to keeping the rates low. Read USA Todays article below for more information!
2012-01-04: 2012 Might Continue With Low Mortgage Rates
The low mortgage rates that occurred during 2011 might be here to stay for a while longer. Experts say that 2012 will continue in 2011 footsteps with record low rates, falling home prices as well as high unemployment. Even though 2011 had record low mortgage rates not too many took the advantage of buying a home.
2012-01-02: Mortgage Rates Still Low
The last week of 2011 continued with having the 30 year fixed mortgage rate to be under 4 percent. The average for this week was 3.95 percent raising the rate from 3.91 percent from the earlier week. To read the San Diego Union Tribune's article "Mortgage Rates Still Below 4%" click on the link below.
2012-01-01: FHA is Extending its Anti-Flipping Rule
Downtown San Diego home buyers looking to invest in a home that has changed hands in the last 90 days can still count on FHA-insured financing as the Federal Housing Administration will extent the temporary waiver of its anti-flipping rule for the second year in a row.
2011-12-31: Foreclosures Might be Increasing
Analysts say that foreclosures might be increasing in the next couple of years. Stanley Morgan thinks that the foreclosure number might be as high as $6 million homes by 2016. Read the San Francisco Chronicle's article "6 million estimated foreclosures by 2016" by clicking the link below.
2011-12-28: Quiet Zone Project Delayed
The Quiet Zone Project that is working to eliminate the train horn in Downtown San Diego has been delayed. The completion date is now set for late spring 2012. Read 10news.coms article Downtown Quiet Zone Project Delayed for more information.
2011-12-27: Plaza de Panama Project Delayed
The plan to remove cars from the center of Balboa Park, Plaza de Panama Project, has been delayed as a judge ruled against the project saying that the memo of understanding between the city and the Panama committee is illegal. Read the San Diego Union Tribune's article "Court to rule against city on Balboa Park" for more information.
2011-12-26: Final Developer Unit at The Mark is Sold
The last Developer unit at The Mark in Downtown San Diego is now sold at a price of $2,225,000. This unit is the 3,200 square foot penthouse and this sale makes The Mark completely sold out. There are a few resales for those looking to invest in Downtown San Diego Real Estate. Read the San Diego Union Tribune's article "Final unit at The Mark sells for $2.2M" for more information about the Penthouse sale.
2011-12-25: Mortgage Rates are falling to 3.91 percent
The 30 year mortgage rate has this week fallen to the lowest it has been the last four decades. With a 3.91 percent makes it the sixth record for this year.
2011-12-22: Foreclosures Increased in Third Quarter of 2011
New home foreclosures that were initiated by large national banks rose up to 21.1 percent July, August and September 2011. The cause seems to have been paperwork problems as mortgage servicers lifted voluntary holds. Click on the link below to read the Los Angeles Times article Home foreclosures jumped in third quarter, federal report says for more information.
2011-12-21: VA Loan Limits Will Be Lowered in 2012
The VA loan limit for 100% finacing for San Diego County will be lowered to $477,000 starting January 1st, 2012. Other areas such as Orange County will follow San Diego and their new limit will be $621,000. Read WannaNetWork.com's article below for more info.
2011-12-20: Mortgage Modification doubled with Foreclosure counseling
Housingwire.com is in their article Foreclosure counseling doubles the chance of mortgage modification talking about mortgage modification and how it doubled if borrowers received foreclosure counseling. Read more by clicking on the link below.
2011-12-19: Low Mortgage Rates Will Stay for Next Year
Freddie Mac reported the other day that they expect an increase of the housing activity as well as for the mortgage rates to stay low to at least 6 month into the year of 2012. Read the Wall Street Journals article Freddie: Low Mortgage Rates to Hang around Next Year by clicking the link below.
2011-12-14: The North Embarcadero Visionary Plan Phase 1 - Groundbreaking Coming Up
The North Embarcadero Visionary Plan Phase 1 has been scheduled for groundbreaking on January 5th, 2012. This was decided after the Port of San Diego and the San Diego City's meeting and approval of the $29.6 million to start the project that will improve the waterfront in Downtown San Diego.
2011-12-13: Home prices dropped in November
According to the article written on November 11th, 2011 the San Diego Union Tribune is talking about that November home sales prices have continued to drop for San Diego County and that the number of home sales is showing the opposite with going up drastically. For more information and to read the original article San Diego home prices fall 6% in November click on the link below.
2011-12-12: Manchester Pacific Gateway Project Don't Meet State Standards
The Manchester Pacific Gateway project in Downtown San Diego does not meet the state coastal standards when it comes to federal design rules to ensure against terrorism. The project that would include a new Navy headquarter building in the Columbia District is now on hold. Read the San Diego Union Tribune's article "Coastal panel cites terrorism worries in Navy project review" by clicking on the link below for more information.
2011-12-11: Lawmakers are Urged to Reject New Payroll-tax Cut
For more than three years, Fannie Mae and Freddie Mac have been under the control of the government as well as that they are mortgage giants in the real estate industry. Major real estate groups have recently come together to raise fees charged by the mortgage giants. The groups are urging lawmakers to reject an attempt to renew a payroll-tax cut.
2011-12-10: Homeowners are Taking a Stand to the Morgage Crisis
Downtown San Diego Condo and Downtown San Diego Loft homeowners who are in the middle of the foreclosure process are taking a stand to how the banks have been handling the mortgage crisis. Occupy our Homes is a day that focuses attention to this matter. Read KBPS article below Occupy Our Homes Protest Moves into San Diego for more information.
2011-12-09: Number of Applications to Buy Real Estate is Getting Stronger
The 30 year mortgage rates are still record low at 4 percent and the amount of applications to purchase Downtown San Diego Condos, Downtown San Diego Lofts and other homes around San Diego rose to the highest amount in four months.
2011-12-08: Rental Market Stabilizes in Downtown San Diego
The rental market in Downtown San Diego and other areas around San Diego County is relatively stable. Over the past several years experts have reported vacancys averaged at a high of 5.4% and a low of 1.6%. Some believe the reasoning behind the downward slope in vacancies is due to the uncertainty of the for sale market.
2011-12-05: Two Day Extension to Pay Your Tax Bill
The County Treasurer is giving Downtown San Diego Condos and Downtown San Diego Loft homeowners an extension of two days to pay their property tax bills as the 10th of December occurs on a Saturday. Click the link below to read The San Diego Union Tribunes article Property owners get two more days to pay tax bill.
2011-12-04: Large Mortgage Lenders will not foreclose during the Holiday
Large mortgage lenders such as Fannie Mae and Freddie Mac have decided not to foreclose on delinquent home owners during the Christmas Holiday. CNNMoney.com share more information about this in the article below.
2011-12-02: Construction is starting to get busy
The Commerce Department reported that construction spending has increased for the month of October with 0.8 percent. Even thought the construction industry has moved slowly upit is still under the average compared with 2010 with 2.9 percent.
2011-12-01: Get your mortgage payment lowered
The Obama Administration has recently announced that there could be a major change to the Federal Home Affordable Refinance Program that could help you lower your mortgage payment for your Downtown San Diego Condo or Downtown San Diego Loft. Read The San Diego Union Tribunes article below for a step by step guide to see if you could be eligable.
2011-11-30: Senior Housing Occupancy is Increasing
Senior housing is on the rise with more than 35 deals worth in excess of 5.5 billion dollars completed in just the first 3 quarters of 2011. This number reflects more than the previous 2 years combinedthese sales are being picked up by large investors that specialize in housing for elderly people.
2011-11-29: Luxury Real Estate is Rising
Luxury Downtown San Diego Condo and Downtown San Diego Loft prices are on the rise along with the rest of Southern California. There are many reasons behind this but the most prevalent one is that these types of buyers have money and will continue to have moneyits just finding a way for them to spend it. San Diego luxury home prices are up 1.1% from last quarter bringing the average list price to $1.63 million dollars.
2011-11-26: 30-Year Fixed Rate Averages 3.98% While ARMs Hit New Lows
30 year fixed mortgage rates remain near their historic lows averaging 3.98% and at the same time adjustable rate mortgages hit new record lows.
2011-11-25: Take advantage of expiring tax deductions
Are you looking to take advantage of tax credits and deductions before they expire at the end of the year? There is a good chance that most of these benefits won't be extended due to the federal deficit problem.
2011-11-23: Public Meeting for Proposed New Navy Pier Park
The San Diego Unified Port District will be holding two public meetings in regards to the proposed Navy Pier Park in the Columbia District located in Downtown San Diego. This plan includes the 500 foot tall "wing sculpture" to be placed at the tip of the park right before the waterfront.
2011-11-22: Existing Home Sales On The Rise
Existing home sales are on the rise, sales were up 1.4% from last month. This mark is higher than what was expected by the economist of briefing.com. Downtown San Diego Condo and Downtown San Diego Loft home owners that are trying to sell right now are in favor of these stats in hopes for a quick sale. Home sales compared to last year have raised quite a bitkeep your fingers crossed for the growing progress.
2011-11-21: New Downtown San Diego Library - Halfway Complete
The new Downtown San Diego Library that is under construction in the East Village/Ballpark District is halfway complete. Concrete is currently being poored and formed to a cost of $20 million.
2011-11-20: Forclosures still ongoing
Mortgage experts say that if the foreclosure housing market was a baseball game, we would be in about the bottom of the 4th inning right now...an estimated 3-4 years away still from the typical patterns of delinquencies. Statistics show that the number of borrowers that have fallen 3-4 months behind on their mortgage has lowered to around 3.5% down from 5% in 2009. Downtown San Diego has been hit hard with foreclosures but every day we see more and more traditional sales coming back into the market.
2011-11-19: Mortgage Applications Still Low
Mortage rates have during 2011 been under 5% except for a time frame of 2 weeks. This last week the 30 year mortgage rate rose from 3.99% to 4%. Even though the rates have been historically low...mortgage applications have not seen any increase in buyers interest.
2011-11-18: Are Low Mortgage Rates Here To Stay?
Although we have heard that mortgage rates should remain low through 2012 and into 2013, some experts think differently. Some think that the rates will rise from the historic lows we are experiencing right now throughout 2012 and hit around 4.5% by the middle of 2012. These are just projections but it will be interesting to see what the rates are for Downtown San Diego in the near future.
2011-11-15: Low Offers Remain Prevalent
When you have a tough housing market you get a lot of investors with a lot of discretionary money and home buyers looking to find that great deal. Some people throw out a low ball offer far below asking price and are able to get it. In other cases...the low ball way might not get you so lucky.
2011-11-14: Home prices are still going down
Home prices has steadily been going down the last couple of years. DSNews.com is mentioning that the prices has been going down with an overall number of 28.3 percent since June 2006.
2011-11-13: Freddie Mac Looks for $6 Million Dollars In Aid
With a big loss in the 3rd quarter of 2011, Freddie Mac asks for $6 billion dollars in additional aid. Why is this happening? Its mainly for two reasons; first; homeowners are paying less interest due to the ability to refinance at a lower rate, second; bankrupt and failing mortgage insurance companies pay out less money when homeowners go into default.
2011-11-12: Home Prices are Still Rising
Experts have surveyed 20 different cities in the U.S. and found that home prices are still on the rise after the huge crash last year. Although the jump recently wasnt huge some jump in the right direction is better than nothing.
2011-11-11: Lenders Spark Investigations
Even though mortgage fraud this year is about 40% lower than last year, lenders are still under investigation for the amount of fraud that has occurred. Fraudulent mortgages total $7.4 billion dollars this year. These investigations usually start when you apply for you mortgage and the lenders verify your social security number and identity. During this investigation they are looking to confirm income issues, large bank deposits, your address, often credit checks, and new or undisclosed debts that you might have.
2011-11-10: Market Conditions in Downtown San Diego
New stats for the Downtown San Diego Real Estate Market for the past few years are now up to date and there are some surprising facts. The numbers have to be a little skewed to the norm because there has been so many short sales and foreclosures sold in the past years. Some of the positives are that the average listing time of a Downtown San Diego Loft or Downtown San Diego Condo has gone down from 153 to 35 daysand also sales price to list price has been very close to 100%.
2011-11-09: New Navy Pier Plan in Downtown San Diego includes wings sculpture
The Midway aircraft carrier museum has a new plan for the Navy Pier in the Columbia District in Downtown San Diego. The plan includes a 500 foot high wings sculpture to stand at the tip of the park.
2011-11-08: Keep your home California program extends qualification guidelines
The California Housing Finance Agency has extended the eligibility guidelines for the Keep your home California program so that more borrowers who are struggling to pay their mortgage can get help. This program has helped more than 8,000 borrowers to keep their homes.
2011-11-07: Home Buyer Tax Credit has been causing problems
Many Downtown San Diego Condo and Loft buyers took advantage of the First Home Buyer Tax Credit during 2010 where a total of $8000 was given as a credit. The IRS have has some trouble determine who owe payments and who doesn't.
2011-11-06: New appraisal rules delays home sales
The Wall Street Journal is reporting in their article that new appraisal rules has been a problem where sometimes the appraised value price is less than what the buyer and seller has agreed on leading to new negotiations.
2011-11-05: 30-year fixed home loan rates keep on going down
According to Freddie Mac the 30 year home loan rates are down to 4 percent this week. The European debt crisis can have something to do with the rates going down.
2011-11-04: Navy Pier in Downtown to become Park space
There are plans on the horizon for a new park in the Columbia District in Downtown San Diego right where the Midway Aircraft Carrier Museum is located. The plan that is up for discussion is to redevelop the pier into green park space, retail and symphony concerts.
2011-11-03: Can you refinance?
Are you having questions in regards to if you can refinance or not? The San Diego Union Tribune is in this article giving you a how-to guide to refinacing.
2011-11-02: American builders are starting to spend more money on home construction
MercuryNews.com are mentioning in a recent article that builders have been starting to spend more money on homes, roads, public schools and governement offices. Yet...we are still some time away from where the construction used to be.
2011-10-29: Developers in Downtown San Diego want to build next to Industrial Workplace
Downtown San Diegos developer wants to build more residential space in the Columbia District right by the waterfront and only a few hundred feet away from Solar Turbines. Solar Turbines has been in business for about 80 years in the same location and are now worried that this would lead to an environmental review.
2011-10-26: Home prices are going up on a month to month basis
CNN Money is reporting that home prices are slowly going up and that the month of August shows a 0.2 percent increase. The year to year comparison shows the opposite with a 3.8 percent down.
2011-10-25: iPhone apps if you are looking to buy a home
An iPhone app has been created to purchase homes, condos and lofts. This is a revolution in an attempt to simplify and expedite the sales process of purchasing a new home. Millions of people already use one of the iPhone models and with Apple pumping out newer models all the time Im sure that that number will keep risingwho knows maybe this will be the number one way to purchase a home in the years to come.
2011-10-24: The Pacific Gateway Project in Downtown San Diego - Delayed again
The Pacific Gateway Project by developer Doug Manchester in The Columbia District of Downtown San Diego was approved about 20 years ago but has not been built due to financial issues. The California Coastal Commission is about to have a new meeting where they might indicate that there will need to be a new approval to get this project going.
2011-10-23: Downtown San Diego Office Market is Recovering
The office market in Downtown San Diego as well as in the San Diego County is showing signs of a slow recovery. Vacancy numbers are getting a little bit lower and the average rent for office space has slightly gone up.
2011-10-22: Should Downtown San Diego be renovating or rebuilding?
Downtown San Diego has many old buildings with a lot of character and some residents believe that they are in need of renovation while others believe that they just need to be destroyed and rebuilt into something new. Check out this article on why renovation should be the remedy used in the East Village District.
2011-10-20: Buy a house and get a U.S. Visa
As the housing market has had its quirks...we are now looking for more foreign investments. So up for debate is...should foreigners possibly get a Visa if they would buy real estate for at least $500,000?
2011-10-19: Marina Cortez Project approved for renovation
Harbor Island...right outside Downtown San Diego is about to start renovation of the main and supporting buildings as well as creating an elevator tower and a waterfront promenade. The Port of San Diego approved the plans on its meeting October 11th,2011.
2011-10-18: Is the Real Estate Profession a woman's world?
According to a recent study performed by Trulia.about 60% of real estate professionals in the U.S. are women.
2011-10-17: Avoid foreclosure by using your 401(k)?
Home owners including Downtown San Diego Condo and Loft owners could take out money from their 401(k) to save their home from forclosure without having to pay the usual tax penelty. Anyways...that is what the proposed legislation would amend.
2011-10-15: What to do with vacant bank owned homes?
There are a lot of vacant bank owned homes out there and one questions is...should we try to do something with these homes? Demolition and rental home suggestions has been up for discussion.
2011-10-14: Big plan ahead - Upper East Village in Downtown San Diego
Upper East Village is something big that is on the plans. How about a pedestrian new neighborhood with lots of trees?
2011-10-13: Remodels on a budget for home owners
They say that it's not really the best time to be selling your home or your Downtown San Diego Condo or Loft. If you have to sell and can't ride out this housing market...here are a few things you should keep in mind to get top dollar for you home when you sell.
2011-10-12: Incentives from banks for completed short sales
The dreaded short sale process is not so bad for some Downtown San Diego Condo and Loft owners as banks all over the San Diego County are offering incentives for completed short sales. Some as much as $35,000 lump sums. The banks are not giving any information on who will and who won't qualify. They are only saying; Dont bother seeking out the incentives. If you qualify, they will come find you.
2011-10-11: Special tax for hotel owners will help pay for San Diego Convention Center Expansion
The San Diego City Council has decided to create a special tax for local hotel owners. The money will go towards the funding of the expansion of the San Diego Convention Center in Downtown San Diego.
2011-10-10: Rate of home ownership lower than in the year of 2000
According to the U.S. Census Bureau, the rate of home owner ship is now 1.1 percent lower that what is was in the year of 2000. In April 2010, the rate fell to 65.1 percent.
2011-10-09: Mortgage rates low but not too many qualify
Even though mortgage rates are super low not that many qualify to take advantage of this. Many Downtown San Diego Condo and Loft buyers that do qualify has most likely already bought their home or are in the process of buying.
2011-10-08: The Chargers wants to cancel Convention Center Expansion plans
The Chargers wanta to have a stadium here in Downtown San Diego. One topic that is up for discussions is to cancel the San Diego Convention plan expansion so that they can build the new stadium instead.
2011-10-07: Califoria Home Prices 7th Biggest Drop
The 7th biggest drop in all the states in regards to home prices goes to California with a fall of 6.2 percent compared to last year.
2011-10-06: Mortgage Applications Declining
Even though the mortgage rates are super low...mortgage applications declined with 4.3 procent this last week. They say the reason is the Federal Reserve is investing in longer term Treasury and mortgage securities.
2011-10-05: Does everyone want to purchase a home?
The latest studies shows that Americans are still wanting to buy homes but they are in no hurry to do so. Potential buyers seem to be more cautious about about how they spend there money after seeing huge losses others have taken on their properties. In a survey of 300 people, more than 68% of buyers that responded believed that it was a good time to buy.
2011-10-04: Architect Ruocco will be remembered
The new Ruocco park in Downtown San Diego was one of Ruoccos contributions to the city as he started a fund 25 years ago. His name is to be remembered this week at a 50th anniversary gala in Balboa Park.
2011-10-03: Are incentives closing the deal?
Incentives always sounds good in any kind of sales transaction of a Downtown San Diego Condo or Loft. It doesn't matter if the home is big or small. Do these incentives close deals? They might...or are they only little bits to sweeten the deal and get leverage on a buyer?
2011-10-02: Harbor Drive Pedestrain Bridge - Landscaping delayed
CCDC announced that Downtown San Diego will be effected by the state budget actions with an 80% cut in capital improvements. One of the effected projects will include landscaping around the new Harbor Drive Pedestrian Bridge in the East Village/Ballpark District right next to Petco Park.
2011-10-01: Cruise season starting in Downtown San Diego
If you been over to the waterfront in the Columbia District the last couple of days...you must have seen the three big cruise ships laying by the pier. The Port of San Diego welcomed the ships with a short ceremony.
2011-09-30: Update - Construction of the New Downtown Library
There is a certain negative context to this Headline about the development and Construction of the New Downtown San Diego Central Library located in the East Village. However, the information given is quite good: Expectations for private Donors are positive (especially with potential Library Naming rights up for grabs), Construction is at a 45% completion rate, currently $3 million under budget, and on target for an ontime completion date of July 2013.
2011-09-29: Chargers Stadium combined with the Convention Center Expansion?
For anyone interested in keeping up with the debate and developments of a new Dowtown San Diego Chargers Stadium, this article is a must read. Chargers express their motivation to the Union Tribue this week to combine the plans for a new East Village Stadium with the current plans to improve and expand the current Downtown San Diego Convention Center Space.
2011-09-29: Mortgage Fraud Skyhigh
The number of people that have been misrepresenting themselves in order to gain real estate has increased considerably. A wide number of reasons is the cause of this; from people saying they make more than they do, to stealing others social security numbers to put on loan documents.
2011-09-28: Short sales less popular among first time home buyers
Fist time buyers looking for Downtown San Diego Condos and Lofts are getting turned off by the short sale approach. Buyers are saying that the big discounts in the sales price aren't an even trade off for the long wait they have to endure for the short sale process to take place. Sometimes buying a short sale property can be a funny game to play, some go through fast and some go through very slow.
2011-09-27: Hidden legal clauses with Foreclosures and Short Sales
With the number of short sales and foreclosures still on the rise, real estate professionals have some precautions to take. Downtown San Diego has seen a lot of these types of transactions lately and some looks like great deals while others have hidden legal clauses that don't always get noticed.
2011-09-26: Should you refinance your mortgage?
Home loan rates in the U.S. have fallen to historically low rates and may even drop further down. Question is...should you refinance your mortgage?
2011-09-25: The newest threat to home prices
The debate about how to address the nation's escalating national debt has dominated the conversation in Washington lately. What isn't getting much attention but should is a looming event that could have major consequences not only for your home's value but also for the overall economic recovery.
2011-09-24: Downtown San Diego Stadium/convention center comparison requested
Convention uses could be included in new stadium instead of in a convention center expansion in Downtown San Diego.
2011-09-21: The newest threat to home prices
The debate about how to address the nation's escalating national debt has dominated the conversation in Washington lately. What isn't getting much attention but should is a looming event that could have major consequences not only for your home's value but also for the overall economic recovery.
2011-09-19: Title fees are hard to swallow when refinancing mortgage
Low interest rates have spurred many homeowners to refinance. And each time, title firms cash in. Although the fees seem unfairly high, regulators have done little about an industry dominated in California by just four companies.
2011-09-17: San Diego housing market August
2011-09-16: When will home prices raise back up?
The American housing market is still down and the economists expect are expecting prices to fall another 5 to 10% in many places including Downtown San Diego.
2011-09-15: Many home owners hampered by high interest rates
22.5% of all residential properties with a mortgage were in a negative equity position at the end of the second quarter 2011. This is a total of 10.9 million homes.
2011-09-14: Should U.S. government be involved in the mortgage industry?
Housing policy experts testified Tuesday on whether a government guarantee is necessary to keep the mortgage market afloat. It's an ongoing conversation on the future of the mortgage entities Fannie Mae and Freddie Mac.
2011-09-12: Will push to maintain mortgage caps bear fruit?
Time is running out for Congress to decide whether to block a scheduled drop in the maximum size of government-backed mortgages, and some House lawmakers are calling for quick action.
2011-09-10: Obama pledges to work on broad refinancing
President Obama said Thursday that his administration would work with federal housing agencies to help people refinance at lower interest rates.
2011-09-08: State sees first bump in property assessments in three years
The value of taxable property in California has increased after two straight years of drops, the state Board of Equalization said this week.
2011-09-06: 10 metros with greatest 5-year gain in real estate values
Online real estate valuation and search company Zillow has calculated the 10 U.S. metro areas that have experienced the largest gains in home values over the past five years, based on the company's home-value estimates and its Zillow Home Value Index, which is generated from those value estimates.
2011-09-05: White House forecasts high unemployment through 2012
The White House issued a new assessment that predicted continued high unemployment through 2012. The jobless rate is expected to end this year at 9.1 percent and average 9 percent next year. On the bright side, a double-dip recession isn't predicted.
2011-09-04: Australian architect propose new plan for Charger Stadium
New plan would create a park like space bridging the blocks between Petco Park, the proposed stadium site in the East Village/Ballpark District and the San Diego Convention Center
2011-09-03: San Diego real estate hot areas
Are you wondering what parts of San Diego had prices and sales increases or where they stayed stabled or declined? Check this out...
2011-09-02: Appraisers can't comp distressed properties
New rules where appraisers will not be able to use distressed properties as comps have occurred in four different states. California has been excluded for now.
2011-09-01: Freddie Mac: Mortgage rates are low
30 year fixed rate mortgage had the same average this week as last week with 4.22 percent. Two weeks ago...it was at a record low with 4.15 percent.
2011-08-31: Summer prices still pretty low in Downtown San Diego
2011-08-30: Number of short sales on the rise
Short sales in California are on the rise and are increasing in percentage of home sales in many states. This year, California short sales made up 25% of home sales in the 2nd quarter, up from 18% in the 2nd quarter last year. This has stayed true for Downtown San Diego Condo and Loft sales as well. We have seen, and continue to see more and more short sales coming into the Downtown San Diego market.
2011-08-29: Is Downtown San Diego ready to change its economy?
Downtown San Diego attracts so many people for its special events such as Mardi Gras, games at Petco Park and Shamrock. They say that San Diego is a starting point for helping cities into the new, post-recession economy.
2011-08-28: Mortgage refinancing among the most sensitive ever
The key issue for investors in mortgage backed securities are the capacity of banks to handle refinancings as these returns are now among the most sensitive ever.
2011-08-27: Foreclosures made up 31 pct. of home sales in 2Q
Foreclosure sales, which include homes purchased after they received a notice of default or that were repossessed by lenders, accounted for 31 percent of the market in the April-June quarter.
2011-08-26: Fixed mortgage rates up a bit; 5-year hybrid loan at record low
Five year hybrid adjustable loans, which have a fixed rate for the first five years, were being offered at initial rates averaging 3.07 percent this week, Freddie Mac said in a report Thursday, down a touch from the previous record of 3.08 percent. The borrowers would have paid 0.5 percent of the loan amount to lenders in upfront fees.
2011-08-24: Sales Profiles Show Growing Number of Second-Home Buyers at The Mark
Downtown San Diego is a desired place to own a Condo or Loft and a lot of buyers are now buying their second and some even a third home here. The Mark located in the East Village/Ballpark District of Downtown San Diego has been a target for some of these buyers. The Mark, a 33 story highrise offers condos for all buyers in all price ranges from the $300s up to the 3 million price point.
2011-08-23: Freddie Mac alerts real estate agents to rising short sale fraud
Freddie Mac recently began reaching out to real estate associations and fielded more calls on a rising rate of fraudulent short sales
2011-08-22: Where was the highest foreclosure activity in July?
2011-08-20: Denver's stadium, downtown a case study for Chargers
San Diego Mayor Jerry Sanders visited Denver on Friday on the last leg of a three-city U.S. tour of sports venues and downtown entertainment zones designed to drum up ideas and interest for a new Chargers stadium.
2011-08-19: Rate on 30-year mortgage falls to lowest on record
The average rate on a 30-year fixed mortgage has fallen to its lowest level on records dating to 1971. The rate on the most popular mortgage dipped to 4.15 percent from 4.32 percent a week ago, Freddie Mac said Thursday. Its previous low of 4.17 percent was reached in November. The last time long-term rates were lower was in the 1950s, when 30-year loans weren't widely available. Most long term home loans lasted 20 or 25 years.
2011-08-18: Expect a slow housing rebound
President Barack Obama on Wednesday said he expects the housing market will slowly rebound over the next two years as the overall economy heals from the recession. President Obama, speaking at a town-hall event in Illinois, said "it will probably take this year and next year for us to see a slow appreciation again in the housing market." He said his administration has been pushing banks to modify loans for people who are having trouble paying their mortgages.
2011-08-17: Home prices up in 35 of 92 ZIP codes
MARKET UPDATE: Did they go up in your neighborhood? Check our list, based on real estate information from DataQuick.
2011-08-16: Sanders plans U.S. tour for Chargers stadium ideas
In his strongest show of support yet for building the Chargers a new football stadium, San Diego Mayor Jerry Sanders and three advisers will leave Wednesday for a three-day nationwide tour of downtown sports and entertainment districts to get ideas for what might work locally in Downtown San Diego.
2011-08-13: Meet San Diego's Mr. Credit
Every week The San Diego Union-Tribune features someone or a topic related to residential real estate. This week, we feature Derrick Evens.
2011-08-12: Foreclosures fall for 10th straight month
Foreclosure filings were down 4 percent compared with June and were 35 percent lower than July 2010, marking the tenth straight month of year-over-year declines, according to RealtyTrac.
2011-08-11: Mortgage rates hit 2011 low
The 30-year fixed rate is now at 4.14 percent, the lowest it's been all year, the real estate website says.
2011-08-10: Reaction to Fannie, Freddie Downgrade
Here's a compilation of tweets and stories from around the U.S. on Standard & Poor's decision to downgrade Fannie Mae and Freddie Mac on Monday.
2011-08-08: Fannie Mae loss widens, reduces request for taxpayer funding
Fannie Mae said Friday that its second-quarter loss widened as it continues to seek loan modifications to help reduce defaults amid the ongoing difficulties in the housing and mortgage markets.
2011-08-07: Home ownership hits lowest level since 1965
Last Friday, the Census Bureau reported that the percentage of people who owned a home had dropped to 65.9% during the second quarter, its lowest level since the first quarter of 1998 and a far cry from the high of 69.2% reached in late 2004.
2011-08-06: How will stock market's performance affect housing?
Every week The San Diego Union Tribune features someone or a topic related to residential real estate. This week, we feature Richard Green, director and chair of the USC Lusk Center for Real Estate.
2011-08-04: San Diegans take the short-sale gamble
The San Diego Union Tribune gives you the ins and outs of transactions in which borrowers owe more on their mortgages than their homes are worth but the lender agrees to a discounted payoff.
2011-08-03: Mortgage deduction could be trimmed
The mortgage interest deduction, which allows 35 million homeowners to write off their mortgage interest payments, may be in for serious restructuring if ongoing efforts to pare the bulging federal debt are broadened.
2011-08-02: Assessor, tax collector's office has new hours
2011-07-31: San Diego Union Tribune real estate on the radio
Catch U-T reporter Lily Leung on the radio waves Friday to hear her talk real estate with a San Diego County personal-finance guru.
2011-07-30: What credit downgrade would mean for mortgage rates
See what The San Diego Union Tribune's readers said about the potential hike in mortgage rates if the country's credit rating is downgraded.
2011-07-29: Distressed BofA borrowers in Calif. now have chance of principal reduction
Bank of America has joined a growing list of servicers in a statewide program willing to lower the loan balances of certain customers.
2011-07-28: What credit downgrade would mean for mortgage rates
See what readers said about the potential hike in mortgage rates if the country's credit rating is downgraded.
2011-07-27: What would U.S. credit downgrade mean for mortgage rates?
Would consumers pay more to own a home, if the U.S. government's credit rating were to be downgraded?
2011-07-26: TV home shows flip scripts
Where are the hundreds of thousands of foreclosed homes in the U.S. ending up? On reality television. This summer and fall, several TV networks are unveiling reality shows about buying foreclosed houses as a way to reinvent the popular "house flipping" formula, which proliferated in cable programming alongside the real-estate boom.
2011-07-25: Short sales, long waits: Buyers and sellers find process frustrating:
Short sales are among the most arduous real estate transactions, often taking six months or more to close -- if they get done at all.
2011-07-24: Home prices in May down 6.3 percent
Home prices nationwide fell 6.3 percent in May from a year earlier as foreclosures weighed down values and purchases slumped, the Federal Housing Finance Agency said.
2011-07-23: Mortgage rates holding steady
Rates on 30-year fixed mortgages averaged 4.52 percent this week compared with 4.51 percent the week prior, Freddie Mac reported.
2011-07-22: U.S. moves toward home "rentership society"
The U.S. homeownership rate has fallen below 60 percent when delinquent borrowers are excluded, a sign of the country's move toward a "rentership society," Morgan Stanley said in a report today.
2011-07-21: June foreclosure activity
2011-07-20: Where was the highest foreclosure activity in June?
The Union-Tribune's Top 10 lists of neighborhoods in San Diego County with the highest rates of foreclosures and mortgage defaults per 1,000 homes.
2011-07-19: U.S. builders' outlook rises after hitting 2011 low
The National Association of Home Builders says an index of builders' outlook for their industry in June rose two points, to 15. Any reading below 50 indicates negative sentiment about the housing market. The index hasn't reached 50 since April 2006, the peak of the housing boom.
2011-07-18: New law gives added protection to short sale hopefuls
Gov. Jerry Brown signed a bill into law that ensures any lender can't go after a homeowner for deficiencies after a short sale has closed.
2011-07-17: New consumer bureau to police real estate kickbacks
HUD next week will transfer hundreds of pending investigations of alleged violations of the Real Estate Settlement Procedures Act (RESPA) to the newly created Consumer Financial Protection Bureau (CFPB), which is taking over responsibility for RESPA enforcement.
2011-07-16: June home prices, sales for San Diego
2011-07-15: New free credit scores: What you need to know now
New credit score disclosure rules issued by the Federal Reserve Board on July 6 require lenders to supply potential borrowers with their scores if they are denied credit or offered less favorable terms because of those scores. Starting on July 21, applicants denied for credit cards, student loans and auto loans will see their scores.
2011-07-14: Foreclosures plunge in first half of 2011
Foreclosure filings plunged 29 percent compared with the same period a year ago and were down 25 percent from the last six months of 2010, according to the latest report from RealtyTrac.
2011-07-13: How did home prices change in San Diego by region?
2011-07-12: Investors to the rescue of housing market
Real estate investors will outnumber traditional borrowers 3 to 1 during the next two years, according to a new survey by Move Inc., helping clear millions of repossessed properties from banks' books and pave the way for a recovery.
2011-07-11: Public can offer input on Convention Center expansion
Members of the public interested in helping influence the design of a planned expansion of the San Diego Convention Center are invited to meetings that will be held next week.
2011-07-10: Obama administration boosts aid for unemployed homeowners
The Obama administration announced yesterday an extended forbearance program that allows unemployed homeowners with FHA mortgages who are enrolled in the Making Home Affordable program to miss up to one year of mortgage payments before the foreclosure process begins.
2011-07-09: How to appeal your property-tax assessment
If you're a property owner in San Diego County and don't agree with your tax assessment, you can fight it. Here's how.
2011-07-08: San Diego recovery might not come till 2017
Limited capital sources, inflation fears point to a slow recovery from the recession, Apartment Association says.
2011-07-07: Mortgage rates trending higher
30 year fixed rate loans averaged 4.6 percent this week, up from 4.51 percent a week earlier, Freddie Mac reported Thursday.
2011-07-06: City redevelopment could lose $70 million
Forty percent cut this year likely means delays in neighborhood improvements, jeopardizes larger projects, like Chargers stadium and the San Diego Convention Center Expansion.
2011-07-05: Big banks easing terms on loans deemed as risks
Two of the nation's biggest lenders, JPMorgan Chase and Bank of America, are quietly modifying loans for tens of thousands of borrowers who have not asked for help but whom the banks deem to be at special risk.
2011-07-04: Fourth of July events and fireworks in San Diego
Grilling burgers and spending all day at the beach are fine holiday activities, but nothing says Fourth of July like a grand display of fireworks.
2011-07-03: San Diego home prices rebound slightly in April
S&P's Case Shiller housing index shows monthly gains in April, but prices remain below last year's levels.
2011-07-02: Rates on 30-year mortgages edging up
Freddie Mac's weekly survey of what lenders are offering to A-credit borrowers, compiled Monday through midday Wednesday, pegged the typical rate for a 30-year fixed-rate home loan at 4.51 percent. That compared with 4.50 percent, 4.50 percent. and 4.49 percent in the three prior quarters. The 30-year rate had risen above 5% in February during a period of improving economic news.
2011-07-01: Would any of these designs, including one for stadium, work in San Diego?
Student projects from the NewSchool of Architecture and Design could inspire real-world work.
2011-06-29: San Diego tops list for working from home
Among workers in the San Diego metro area, 4.2 percent work from home, making the region the highest ranking metro area for teleworkers across the country.
2011-06-29: Home prices rise, snapping 8-month drop streak
According to the S&P/Case Shiller 20-city index, prices rose 0.7% compared with March, although they fell 0.1% when adjusted for the strong spring selling season. Prices were down 4% year-over-year.
2011-06-27: Mortgage rates are little changed
Mortgage rates changed little for a second straight week, according to the latest survey from Freddie Mac.
2011-06-26: Pending conforming loan limit decrease puts California on edge
With the conforming loan limits expected to drop in October, the California Association of Realtors warned of the impending harm to homeowners, while the only private-label securitizer left notified investors of more opportunities.
2011-06-25: 5 things to know about mortgage fraud
Five on Friday: Every week Union Tibune reporter Lily Leung features someone or a topic related to residential real estate in San Diego and beyond. This week, she shares insights from an expert panel at the San Diego Association of Realtors Expo.
2011-06-24: Median time on market up in San Diego County
Realtor.com released its May report on the median age of inventory for San Diego County and 145 other markets in the U.S.
2011-06-23: New home sales fall
Sales of new homes fell 2.1% in May, after rising for two months in a row, as the housing market continues to struggle.
2011-06-22: Existing home sales drop 3.8 percent
Sales of existing homes fell 3.8% to a seasonally adjusted annual rate of 4.81 million, down from a revised rate of 5 million in April, the NATIONAL ASSOCIATION OF REALTORS reported Tuesday.
2011-06-21: Analyst: Rents to rise 4.5 percent for years
A new forecast projects rents will increase 4.5 percent annually on average through 2015. The report, by John Burns Real Estate Consulting, notes that "Wall Street and pension fund consensus, at least for apartments in good locations in coastal cities, seems to be that 25 percent-plus rent growth over the next three years can easily occur."
2011-06-20: Horton rebuild promises amphitheater, restored park
Three options for the $8.5 million plan, due for city approval later this year, will be presented to the public Tuesday. The choices all include an amphitheater, kiosks, unique 30- to 40-foot lighting features resembling Mexican luminarias, and a water feature.
2011-06-19: Freddie Mac: 30-year mortgage rate levels off at 4.5 percent
Mortgage rates leveled off this week, according to a Freddie Mac survey that found lenders were offering 30-year fixed-rate loans to well-qualified borrowers at an average 4.50 percent compared with 4.49 percent last week and rates in the 4.2 percent range for a couple of months last fall.
2011-06-18: Foreclosures fall for 8th straight month
In May, foreclosure filings fell 33 percent from a year earlier and 2 percent month-over-month, according to RealtyTrac. The number of homes that were repossessed in May also declined to 66,879, down 3.8 percent from April and 29 percent year-over-year.
2011-06-16: Redevelopment bill passes, threatens local funding
The Legislature approved two bills Wednesday potentially ending redevelopment efforts in San Diego and throughout the state.
2011-06-15: Quote of the day: Fannie Mae incentives
By encouraging homebuyers who will make these properties their long-term home, these expanded incentives will help to stabilize communities.
2011-06-14: More loan servicers added to $2B mortgage-aid program
More homeowners in the state are expected to be helped with the addition of 13 more servicers to a state program that's expected to help 100,000 people.
2011-06-13: 3 banks lose loan mod incentives
The Obama administration has punished three of the nation's largest banks, judging them unworthy of receiving financial incentives through its signature foreclosure relief program until they improve their practices.
2011-06-10: Federal proposal would toughen debt restrictions on mortgages
Consumer borrowing is so rampant in America that most people who took out a mortgage last year to buy a home ended up spending more than a third of their income to pay that loan and other debts. Now, a federal proposal would target these borrowers by making it tougher for them to get the cheapest mortgages. The initiative is part of a broader measure that aims to prevent another foreclosure crisis and could confront borrowers who do not meet certain conditions with higher interest rates and fees.
2011-06-09: Mortgage rates down, again
Every day, the San Diego Union Tribune will bring you an interesting quote from someone in the housing industry.
2011-06-08: Last steel beam at airport addition gets applause
The last steel beam in the frame of the $1 billion "Green Build" addition to San Diego International Airport was lifted into place this morning, lifted easily into the sky by a 250-foot crane as if it were from a child's Erector set.
2011-06-07: First action due on Balboa Park changes
Plaza de Panama Committee seeks agreement with city clearing out cars, building bypass.
2011-06-06: Will boomers and 20-somethings carry housing recovery?
Harvard researchers say the housing market is still mired by foreclosures and hurdles keeping people from owning. But two key demographics may influence a recovery.
2011-06-05: Downtown San Diego poised for housing revival
Rising demand and more capital are fueling revival of downtown San Diego's housing market.
2011-06-04: Final details decided on Embarcadero design in Downtown San Diego
The selection Thursday of a "noninvasive" palm type to grace the downtown waterfront completed the final design detail before construction can proceed on the $29.6 million first-phase makeover of San Diego's proverbial "front door."
2011-06-03: Mortgage rates keep dropping, Freddie Mac says
2011-06-01: Rebar, concrete and not a book in sight at new central library site
New central library - 290 days after ground breaking in the East Village/Ballpark District in Downtown San Diego.
2011-05-31: Home prices keep falling in San Diego
Experts point to the lack of a homebuyers' tax credit this year and tight lending rules that are keeping consumers out of the market.
2011-05-29: Lenders to pay $22M for foreclosures on military
BAC Home Loans Servicing LP once known as Countrywide Home Loans Servicing LP and now a unit of Bank of Americaand Saxon Mortgage Services Inc., a unit of Morgan Stanley have agreed to pay more than $22 million to settle allegations that they improperly foreclosed on active-duty military without court orders, the Justice Department announced Thursday.
2011-05-28: What's in and out in San Diego home remodeling
For those who have the financing, homeowners are exploring smaller and cheaper improvements, adding "green" upgrades and changing interiors to "age" in place.
2011-05-26: County gives final approval to waterfront park
The County Administration Center parking lots in the Columbia District in Downtown San Diego will be turned into 8 acres of parkland, including this shallow wading pool. Completion is projected for the summer of 2013.
2011-05-25: New home sales up for 2nd straight month
The Census Bureau reported an annual sales rate of 323,000 new homes last month. That was up 7.3 percent from a revised rate of 301,000 in March.
2011-05-24: Sinking values prompting homeowners to consider strategic default
Slight drop in strategic defaults unlikely to last as more people do the math, see they can't recover and make a business decision to walk away from their mortgage, even if it ruins their credit.
2011-05-22: Home loans should make sense to consumers
In place of the weekly Five on Friday housing Q&A, this week the San Diego Union Tribune have a submission from a banking executive weighing in on a mortgage-disclosure form that many find confusing and is often ignored.
2011-05-20: Federal Reserve: Housing, rising gas prices slowing down recovery
The economy will likely improve at a slow, limited pace, according to the Federal Reserve committee in its last meeting.
2011-05-19: Mortgage delinquencies level off
In a report Thursday, the Mortgage Bankers Association said 8.32 percent of homeowners with mortgages had missed at least one payment, up from 8.25 percent in the fourth quarter of 2010. Michael Fratantoni, an economist at the Mortgage Bankers Assn., described the change as more of a "leveling off" than a significant statistical change.
2011-05-18: Foreclosures and defaults continue to fall
Where's that supposed second wave of distressed properties that experts referenced at the start of the year? A couple experts weigh in.
2011-05-17: US builders see little to like in housing market
Builders' outlook for the industry in May was unchanged at 16, the National Association of Home Builders said Monday. It has been at that level for six of the past seven months.
2011-05-16: Home sellers are financing buyers with poor credit
Financing provided by home sellers, popular in the 1980s when mortgage rates reached 18 percent, is making a comeback in markets such as Michigan that have been hit hard by foreclosures and where tightening lending standards and years of economic distress have drained the pool of creditworthy buyers. For a small but growing number of people, it's the only way to get a deal done.
2011-05-15: Do San Diegans still believe in home ownership?
The dream of homeownership is still alive in today's tough economy...says San Diego & Downtown San Diego residents.
2011-05-14: The ins and outs of short sales
Every week the San Diego Union Tribune reporter Lily Leung features someone related to residential real estate in San Diego, California and beyond. Five questions, five answers. This week they have an agent discussing the basics of short sales.
2011-05-13: San Diego home prices take a slight dip in April
DataQuick Information Systems released its monthly figures on home prices and sales in San Diego County and throughout Southern California.
2011-05-11: Google wants your house to be as smart as your phone
Google wants consumers to be able to control devices and appliances in their homes with their Android devices, which would basically function like a universal remote.
2011-05-10: Home prices continue slide
The March 2011 median sale price declined 7.5 percent nationwide in March compared with March 2010, according to a report by CoreLogic.
2011-05-09: BofA to open more outreach centers for delinquent homeowners
Bank of America plans to triple the number of its assistance offices for homeowners in trouble on their mortgages, including adding seven of the new outreach centers in California.
2011-05-08: Tell us, is the American Dream dead?
Americans traditionally see owning their own home as a sign of success. But with the collapse of the housing market, attitudes may be changing. What do you think of the future of homeownership in San Diego County incl. Downtown San Diego?
2011-05-07: What to know about homeowners' insurance
Every week the San Diego Union Tribune's reporter Lily Leung features someone related to residential real estate in Downtown San Diego, San Diego, California and beyond. Five questions, five answers. This week they have a San Diego expert on homeowners' insurance.
2011-05-06: Mortgages fall to 2011 low throughout U.S.
Are investors antsy about the global economy, in light of Osama bin Laden's death and other developments in the Middle East?
2011-05-05: Mortgage rates drift lower, Freddie Mac says
A Freddie Mac report on Thursday said the lenders it surveys were offering 30-year fixed-rate mortgages at an average rate of 4.71% early this week, compared with 4.78% the week before.
2011-05-04: Quiz: Homebuyers lack mortgage know-how
INTERACTIVE: See how you measure against those who took Zillow's recent survey on home-loan basics.
2011-05-03: San Diego's home market, 1st quarter 2011
Experts at University of San Diego's real estate center breaks it down for us in their quarterly report, released last week.
2011-05-02: Public Open House: Help create San Diego's new Horton Plaza
The historic Horton Plaza in downtown is ready for a makeover, and the entire community is being asked to be part of this exciting, new project.
2011-05-01: NAR weighs policy change on Facebook, mobile listings feeds
The NATIONAL ASSOCIATION OF REALTORS next month will consider revising rules governing multiple listing services in order to explicitly permit brokers or agents to display Internet Data Exchange (IDX) listings on social networking sites and mobile devices.
2011-04-29: Consumer spending, income both rise in March
Personal incomes rose 0.5 percent last month and consumer spending increased 0.6 percent, the Commerce Department reported Friday. But after adjusting for inflation, spending rose a much more subdued 0.2 percent and after-tax incomes were essentially flat.
2011-04-27: California's real estate commissioner quits
2011-04-26: S&P index: Feb. home prices drop in San Diego
Still, it appears the local region is doing better than half of the areas surveyed in the monthly measure of home prices in the U.S.
2011-04-25: Mortgage denied: Sometimes, for no good reason
2011-04-24: Strategic defaulters pay bills on time and plan ahead
A growing body of research shows that the so-called "strategic defaulters" defy the tell-tale characteristics of most people whose loans go bad. They pay their bills on time, rarely exceed their credit-card limits, and hardly use retail credit cards, according to a study released Thursday by FICO.
2011-04-22: Residents bummed about California dream
Less than half of California residents 46 percent think the California dream is still alive, even though most of them believe they will be better off financially in a year, according to the quarterly Citi California Pulse Survey released today.
2011-04-21: U.S. mortgage rates fall amid economic concerns
Companies, including Freddie Mac, say mortgage rates across the U.S. fell this week in light of several economic factors, including weak home sales and starts, rising oil prices and overall nervousness about the economy.
2011-04-20: Forecast for Fed: No change
Next week, leaders of the Federal Reserve will spend two days behind closed doors discussing the economy, to be capped off with Chairman Ben S. Bernanke's first quarterly news conference. The likely result is that nothing will change, and the Fed is committed to keeping its interest rate target near zero, where it has been for more than two years.
2011-04-19: Could your mortgage broker's pay affect your bottom line?
New rules from the federal government has changed how mortgage brokers and loan officers are being paid. Experts weigh in on how the change could affect consumers.
2011-04-18: Feds announce partial settlement with 'robo signing' servicers
In a partial settlement addressing so-called "robo-signing" foreclosure practices, the nation's largest loan servicers have agreed to hire outside consultants to review foreclosures initiated in 2009 and 2010, and to compensate homeowners who should not have been foreclosed on.
2011-04-17: Mortgage rates continue to edge higher
The average rate for 30-year loans rose to 4.91 percent this week, up from 4.87 percent last week and 5.07 percent a year ago, Freddie Mac reported Thursday.
2011-04-16: Embarcadero plan OK'd by Coastal Commission
The nearly $30 million project, which is the first phase of the long debated North Embarcadero Visionary Plan, could get underway by the end of this year, with completion expected by mid-2013.
2011-04-15: Foreclosures off 30 percent this year
The number of foreclosure notices filed during the first three months of 2011 fell 27 percent compared with the first quarter of 2010, according to a report from RealtyTrac released Thursday.
2011-04-14: CA mortgage aid open to more homeowners underwater
See who else is now covered in four state-administered programs that aim to help struggling homebuyers stay in their homes.
2011-04-13: Confidence in value of homeownership persists through bust
More than 80 percent of U.S. adults surveyed by the Pew Research Center say buying a home is the best long-term investment.
2011-04-12: Housing market unlikely to face double dip
Housing prices are not in another free fall and are unlikely to face a double dip, according to a chairman at the Price Index Committee, which is responsible for the Standard & Poor's Case-Shiller Home Price Index.
2011-04-11: Home lenders shed workers as mortgage rates climb
A rebound in mortgage rates from last year's near -record low has reduced consumer demand for home loans and refinancings, leading Wells Fargo & Co. to join other industry stalwarts in laying off loan processors and related workers.
2011-04-10: Budget impasse threatens FHA lending
The budget deadlock and looming shutdown of the federal government wouldn't affect Fannie Mae and Freddie Mac, but it could put the brakes on FHA and other government-backed loan guarantee programs
2011-04-09: Reminder: It's time to pay your property tax
2011-04-08: Federal shutdown would hit California hard
A looming government shutdown could stall tax refunds, close national parks and museums, and put tens of thousands of Californians temporarily out of work.
2011-04-07: Use of FHA loans in San Diego, U.S. fall in February
See how San Diego County ranks among 20 major metros in percentage of home loans that were FHA in February.
2011-04-06: Search your ZIP: San Diego foreclosure data, February
Interactive spreadsheet: Foreclosure and mortgage default figures for San Diego County. You can filter and sort by neighborhood and ZIP code.
2011-04-05: How was the distressed market in February?
DataQuick Information Systems releases foreclosure and mortgage default numbers for February. See what the figures could mean for San Diego County.
2011-04-04: 30-year fixed-rate mortgages inch up
Rates on 30 year, fixed mortgages averaged 4.86 percent this week, an increase compared with last week, Freddie Mac reported.
2011-04-03: Legislator wants to bill banks for foreclosures
See what state lawmakers are proposing to change in the housing sector. The U-T is covering issues that include landlord-tenants' rights, homebuilding and foreclosures.
2011-04-01: What's making San Diego County rents go up?
Find out the average rate in the San Diego region including Downtown San Diego now and where it may go in the next five years.
2011-03-31: Sunstone to acquire stake in Hilton San Diego Bayfront
The hotel investment company has reached an agreement to acquire a majority stake in the waterfront hotel in Downtown San Diego.
2011-03-29: East Village District Downtown San Diego condo owners get $10M in water-leak case
A San Diego developer has agreed to pay $10 million in a settlement with Downtown San Diego condo owners who say faulty bathroom construction led to water leaks that affected the entire project. The complaint was filed four years ago.
2011-03-28: How to avoid loan modification schemers
The California Department of Real Estate, which oversees real estate licensing, occasionally puts out alerts to help consumers avert mortgage fraudsters.
2011-03-26: What are the top-searched home markets in the U.S.?
See how San Diego County fared in Realtor.com's monthly search rankings and photos of some of the top searches in the county.
2011-03-25: Finance site Mint.com now offering mortgage tool
The website, which allows consumers to track their finances, now lets people find home loan deals tailored to their needs. The tool allows you to find loans by ZIP code.
2011-03-24: U.S. new home sales hit historic low
The previous trough for new home sales was an annual pace of 274,000 in August 2010. February's pace 250,000.
2011-03-23: Defining subprime: easier said than done
The Securities and Exchange Commission is investigating whether Fannie Mae and Freddie Mac's disclosures to investors of subprime and other risky mortgages may have misled investors about their decisions to take on more risk.
2011-03-22: Home resales fall 9.6 percent in February
The NATIONAL ASSOCIATION OF REALTORS on Monday said sales of existing homes declined to an annual rate of 4.88 million units from an upwardly revised 5.4 million units in January.
2011-03-21: Realtors: Prices, sales fall throughout nation in Feb.
The National Association of Realtors in its monthly report said existing sales throughout the U.S. fell in February, with cash sales making up about one-third of transactions.
2011-03-20: SEC moves to charge Fannie, Freddie execs
The Securities and Exchange Commission is moving toward charging former and current Fannie Mae and Freddie Mac executives with violations related to the financial crisis, setting up a clash with the housing regulator that oversees the companies, according to sources familiar with the matter.
2011-03-19: A world without Fannie Mae and Freddie Mac
Michael Lea, director of San Diego State University's Corky McMillin Center for Real Estate, gives his views of the federal proposals to phase-out Fannie Mae and Freddie Mac.
2011-03-18: Freddie Mac: U.S. mortgage rates fall amid Japan crisis
Rates for both 30-year and 15-year fixed loans fell across the U.S. this week, according to Freddie Mac's weekly survey.
2011-03-16: San Diego home prices, sales slightly up in February
About 55 percent of February resales in San Diego County were either foreclosures and short sales that took several months to close.
2011-03-15: Bank of America offering aid to military borrowers
New banking programs that will help military homeowners are expected to have a greater impact on San Diego County than most U.S. areas, given the region's big military presence.
2011-03-11: Foreclosure activity drops sharply nationwide
Filings fell 14% from January and 27% from a year earlier, according to RealtyTrac. The decline is attributed to a major overhaul of the process and court challenges by homeowners.
2011-03-10: California labor market recovery to go more slowly than predicted, report says
A new forecast projects that California's labor market recovery could take even longer than previously thought, and the state's unemployment rate will remain in double digits until early 2013, according to UCLA economists.
2011-03-09: Short sales are rife with issues
A survey of more than 2,000 members of the California Association Realtors shows high dissatisfaction with the short sale process. Issues include burdensome requirements, long delays and lack of communication.
2011-03-08: Bank regulators push for principal write-downs
The nation's biggest mortgage services received a proposal from state attorneys general and federal regulators last week that outlines formulas they would be required to use when considering borrowers for loan modifications. If accepted by lenders, the formulas would force them to offer more borrowers principal write downs.
2011-03-07: FHA powers what's left of the home market
As the government moves to reform the mortgage market, the Federal Housing Administration is heading for some changes that could limit borrowers' access to the loans, or at least make them more expensive.
2011-03-06: Mortgage basics: What you need to buy, refinance
The San Diego Union Tribune talked to mortgage experts for a consumers guide on the ins and outs of financing and refinancing in today's real estate market.
2011-03-04: Fannie Mae CEO discusses future of lending
Fannie Mae's president and CEO discusses the future of the mortgage-lending market and housing trends at the University of San Diego's annual real estate conference at the Hilton San Diego Bayfront.
2011-02-28: IRS eases rules on property liens for delinquent taxpayers
The Internal Revenue Service says it's trying to help people who are struggling to pay delinquent tax bills, so it's reducing the number of property liens and easing rules for small businesses to enter into installment agreements.
2011-02-25: Search your ZIP: San Diego foreclosure data, Jan. 2011
Interactive spreadsheet: This is the first time the Union-Tribune has presented San Diego County foreclosure and mortgage default numbers in this format.
2011-02-24: San Diego foreclosures up 34% in January
More San Diego County homes were foreclosed on in January than in December, according to figures from DataQuick Information Systems.
2011-02-23: San Diego home prices up 1.7% year-over-year
Economic experts said San Diego and some parts of California are faring better than other U.S. areas in terms of rebounding from their record lows.
2011-02-22: The San Diego Convention Center in Downtown San Diego: If we expand, will more people come?
Analysts predict an expanded center will bring hundreds of thousands more conventioneers each year, but San Diego will face increased competition as other Western cities also look at enlarging their centers.
2011-02-21: Downtown San Diego law school now has student housing
The Thomas Jefferson School of Law, which finished its move to downtown San Diego in January, is now offering its students housing one block from campus. A Seattle based firm leased the 172-unit building to school officials.
2011-02-20: Mortgages in foreclosure process hit record
About 4.63 percent of loans were in foreclosure in the fourth quarter, up from 4.39 percent in the previous three months, the Mortgage Bankers Association said in a report Thursday. The combined share of foreclosures and loans with overdue payments was 14 percent, or about one in every seven mortgages.
2011-02-18: Freddie Mac: U.S. mortgage rates down this week
Rates for both long-term and short-term home loans dropped from last week, according to a weekly survey by Freddie Mac.
2011-02-16: Search your ZIP: San Diego housing data
The San Diego Union Tribune have the January 2011 figures, which are searchable by ZIP code, region and neighborhood name.
2011-02-15: Homes sales, prices fall throughout SoCal in January
Other factors that may have caused the drops in median price and sales included larger shares of distressed homes, reluctant consumers and more low end homes.
2011-02-14: $2B of aid open to struggling homeowners in California
The money, administered through the California Housing Finance Agency, comes from the U.S. Treasury Department's Hardest Hit Fund, which helps states most devastated by the nationwide housing crisis.
2011-02-13: Mortgage rates break 5 percent
Rates for a 30 year, fixed rate mortgage averaged 5.05 percent during the week ending Feb. 11, according to Freddie Mac's Primary Mortgage Market Survey.
2011-02-12: Average 30-year mortgage rate rises past 5 percent
Freddie Mac officials on Thursday said the average rate jump in 30-year fixed mortgage rates is due to an increases in long-term bond yields that "placed upward pressure on mortgage rates this week."
2011-02-11: Home affordability in San Diego County at record high
More than 60 percent of first time homebuyers in San Diego County were able to afford entry-level homes last quarter, according to an index released by the California Association of Realtors. That's three times more than the level seen in 2006, when affordability fell to its lowest point.
2011-02-10: 30 percent of mortgages are underwater
Home prices dropped 2.6 percent nationwide during the last three months of 2010, pushing more borrowers underwater, according to a quarterly real estate market survey from Zillow.com. Now, 27 percent of homeowners with mortgages owe more than their homes are worth. That's up from 23.2 percent a quarter earlier.
2011-02-09: Cash buyers lift housing
Buyers in markets around the U.S. are snapping up homes in all cash deals, betting that prices are at or near bottom and breathing life into some of the nation's most battered housing markets.
2011-02-08: San Diego rental association cuts ties with Calif. group
The San Diego Apartment Association has instead contracted with the National Apartment Association and hired two well-known housing lobbyists to represent the group in the California Legislature. The local apartment association also is beefing up its legislative presence by forming an alliance with several other rental associations in Southern California.
2011-02-07: Housing finance changes likely to mean less government backing for some buyers
The Obama administration is likely to recommend reducing the size of mortgages eligible for government backing, according to current and former officials, a move that could make getting a home loan in high-priced areas.
2011-02-06: The Union Tribune's weekly look back, look ahead
Here are real estate highlights from the past week and some things to expect this week locally, regionally and nationwide.
2011-02-05: $6.5M Countrywide settlement could help homebuyers
The California Attorney General's Office has established a statewide foreclosure-relief fund with settlement money from former Countrywide executives.
2011-02-04: Search your ZIP code: San Diego housing data, '09-'10
San Diegans, see how median prices and sales changed from 2009 to 2010. The data is broken down by neighborhood, ZIP code and home type.
2011-02-03: Rep. Issa: San Diegans need jobs, not foreclosure-relief program
Rep. Darrell Issa, of Vista, and two other leading representatives want to eliminate the Obama administration's foreclosure-prevention program, calling it a "failed government program." Issa fields questions from the Union Tribune on the proposal.
2011-02-02: San Diego in top 5 home markets in 2011
San Diego is among three California cities that Forbes Magazine expects will see the most increases in home values in 2011.
2011-01-31: The Union-Tribun's weekly look back, look ahead
Here are real estate highlights from the past week and some things to expect this week locally, regionally and nationwide.
2011-01-30: Map: How San Diego housing fared in 2010
The Union Tribune looks at 2010's home price and home sales figures for San Diego County. They break out a few key areas by ZIP code.
2011-01-29: San Diego's 2010 foreclosure drop among highest in the U.S.
RealtyTrac says the San Diego region in 2010 saw the third largest drop in foreclosures, behind Washington D.C. and the Riverside region, in Southern California.
2011-01-28: San Diego home prices hold steady in S&P index
San Diego was the only major metro area in the U.S. to post a monthly gain in the S&P/Case Shiller Home Price Index, a leading measure of U.S. home prices released on Tuesday.
2011-01-27: West leads December jump in new home sales
The West showed the biggest increase in such sales last month, says a monthly report from the U.S. Census Bureau and the Department of Housing and Urban Development.
2011-01-26: Foreclosures in San Diego County fall to lowest level since '07
Foreclosures and defaults fell in San Diego county and across the state. But experts wonder if it's due to less financial distress or shifts in lending policies.
2011-01-25: As foreclosures rise, so do lawsuits
Despite federal loan modification programs and a wave of government investigations and homeowner lawsuits, banks foreclosed on a record number of homes last year and seem poised to seize even more this year. But in places like San Diego County, which was one of the first areas to experience the real estate collapse, the foreclosure rate appears to be slowing.
2011-01-24: To rent or to buy in San Diego? Trulia weighs in.
Trulia on Monday reported that it's cheaper to buy than to rent in nearly three-quarters of the 50 largest cities in the country, with Miami, Las Vegas and Arlington, Texas, leading the list. New York, Seattle and Kansas City, Mo., topped the list of cities where renting makes more sense. Where did San Diego land? A little past the middle, at No. 32.
2011-01-22: Freddie Mac: Mortgage rates mixed this week
The average 30-year fixed rate rose to 4.74 percent from 4.71 last week, while the 15-year fixed rate slipped to 4.05 percent from 4.08 percent last week.
2011-01-20: U.S. housing starts slowed sharply in December
Groundbreaking on new homes fell more than expected in December to its lowest in over a year, suggesting the battered housing sector remained a roadblock to a recovery. Housing starts in the United States dropped to an annual rate of 529,000 units, the Commerce Department said on Wednesday, down from November's 553,000 and well below forecasts of about 550,000 in a Reuters poll. At current levels, starts account for less than a quarter of their boom-time peaks.
2011-01-19: SoCal home prices still outpacing San Diego's in December
Home prices in Southern California increased slightly while home sales rose more than normal in December from November, DataQuick Information Systems reported on Tuesday.
2011-01-18: San Diego County home sales up, but prices fall (UPDATE)
San Diego County's housing prices ended 2010 about where they began a year ago after peaking in the spring, DataQuick Information Systems reported Monday.
2011-01-17: Port Kicks Off its Green Business Challenge with an Educational Breakfast Event
The Port of San Diego is kicking off a campaign to encourage its waterfront tenants to go green. The Port of San Diego's Green Business Challenge will be officially launched at a breakfast on Thursday, January 20, 2011 at the Sheraton San Diego Hotel and Marina on Harbor Island. The breakfast will be from 7:30 to 9:30 a.m. in the Fairbanks Ballroom in the hotel's Bay Tower, located at 1380 Harbor Island Drive, San Diego (map).
2011-01-16: Robo-signing impact varies in West
Foreclosure activity in December varied in five Western states tracked by ForeclosureRadar - perhaps because loan servicers are faced with different laws in each state as they work to put robo-signing issues behind them, the company said. ForeclosureRadar, which tracks homes through each stage of the foreclosure process, said foreclosure starts declined during December in Arizona, California and Washington, were flat in Nevada, and increased in Oregon.
2011-01-15: California leads as nation sets foreclosure record
California led the nation with 546,669 foreclosure properties as a record 2.9 million U.S. properties received foreclosure filings in 2010, according to a report released by RealtyTrac. The record-breaking figure comes despite a slowdown in the fourth quarter fueled by the suspension of foreclosure proceedings by several major lenders.
2011-01-14: Short-sales market has legs
The short-sale market is not dying down anytime soon, and if real estate professionals hope to delve into that niche, they should educate themselves thoroughly. That was the message from two short-sale specialists who spoke at Real Estate Connect Thursday.
2011-01-13: Foreclosures fell 26% in Dec., but 2010 filings set a record
The pace of foreclosures has slowed since revelations that thousands of foreclosure documents may have been improperly prepared, but for all 2010, almost 2.9 million U.S. properties received foreclosure filings, a record high, and up 2% from 2009.
2011-01-12: Jumbo mortgages: Price difference shrinking
If you're considering taking out a jumbo mortgage, now may be a good time to get the loan. According to data released last week from LendingTree, the difference in price between a conforming 30-year fixed mortgage and a jumbo mortgage for a higher amount was recently at around 60 basis points.(A basis point is one one-hundreth of a percentage point.)
2011-01-11: Americas most overvalued - and undervalued - cities
Can a housing market simultaneously be the most undervalued in the nation and one of the worst housing buys? Nationally, the great majority of housing markets are now fairly valued, according to Local Market Monitor. Eight markets are overpriced, and 15 are underpriced. That contrasts with the boom years: In mid-2006, 37 of the biggest markets were overpriced, six under and 57 fairly valued.
2011-01-10: Freddie Mac: Mortgage rates fall this week
Real estate experts in San Diego said they aren't concerned about this week's decrease, saying it's just part of the market flow.
2011-01-09: Union Tribune week in review
2011-01-06: Homebuyer tax credit: How to claim it
The first-time homebuyer tax credit encouraged many buyers to take the leap in 2010. Though the deadline to close on a qualifying home purchase was Sept. 30, 2010, those buyers who did qualify now have to figure out how to collect.
2011-01-05: Dont overlook tax break of mortgage points
If you have ever taken out a mortgage, you probably already know of the tax advantage provided by deducting your mortgage interest payments. But many homeowners overlook another tax break available for points paid to get a home loan. In some cases, points also could shave tax bills for folks who refinanced or got an equity loan or line of credit.
2011-01-04: 10 Resourceful real estate tips for 2011
Must we endure yet another year of housing crisis? What choice do we have? No amount of optimistic projections and statistical manipulation can remedy this protracted housing pain. Historically speaking, five to seven years has been a standard interval for house prices to stabilize following serious corrections. By that measure,the worst should be behind us.
2011-01-03: Signed contracts to buy homes up 3.5 pct. in November
The NATIONAL ASSOCIATION OF REALTORS Pending Home Sales Index rose 3.5 percent in November from a downwardly revised reading in October. Contract signings were up in the West and Northeast, but down in the South and Midwest.
2010-12-31: Mortgage rates increase slightly again
CEO of BluFi Direct Mortgage in Carlsbad expects rates to stabilize in the first quarter of 2011.
2010-12-29: U.S. foreclosures jump in third quarter
Newly initiated foreclosures increased to 382,000 in the third quarter, a 31.2 percent jump over the previous quarter and a 3.7 percent rise from a year ago, the Office of the Comptroller of the Currency and the Office of Thrift Supervision said in their quarterly mortgage report.
2010-12-28: Key index shows San Diego housing prices slipped in October
However, the Case-Shiller data shows home prices in San Diego are up 3 percent year over year.
2010-12-27: Home sales rise 5.6 percent in November
Sales of existing homes jumped 5.6 percent in November to an annual rate of 4.68 million units, the NATIONAL ASSOCIATION OF REALTORS reported Wednesday. The rate was down 27.9 percent from a year earlier.
2010-12-26: Home buyers anxiety rises along with mortgage rates
Five consecutive weeks of rising interest rates have put a damper on home refinancing applications and are making those in the market for a house anxious.
2010-12-23: San Diego home sales fell less in survey
2010-12-22: Wells Fargo reaches agreement with California to modify risky mortgages
Wells Fargo & Co. reached an agreement with the state of California to make mortgage modifications valued at as much as $2.4 billion on risky mortgages that let borrowers decide how much they would pay each month.
2010-12-21: Popular surnames of San Diego County homebuyers
Three decades of the most popular surnames of local homebuyers. Is your name on the list?
2010-12-20: Foreclosures hit three-year-low, defaults down 21.8 percent from 2009
San Diego County defaults and foreclosures slowed in November as analysts awaited a sign of how lenders will treat distressed properties in 2011, according to MDA DataQuick figures released Monday.
2010-12-17: Home prices decline for three months in a row
Home prices declined 3.93 percent in October compared with a year ago, according to CoreLogic.
2010-12-16: SoCal home prices outpaced San Diego's in November
Would-be homebuyers are sitting on the sidelines to see if prices drop more or interest rates continue to rise.
2010-12-15: Home prices inched up in November
2010-12-14: Luxury home prices are still heading down
Although Southern California home prices overall have rebounded from lows hit last year, the luxury market is still trending downward.
2010-12-13: San Diego one of few metro areas to show higher home values
2010-12-11: Housing agencies clash over mortgage-relief program
The top federal agencies responsible for setting housing policy are clashing over a new program designed to help borrowers whose homes are worth less than they owe on their mortgages, according to industry and government sources.
2010-12-10: BofA restarts some foreclosures
Bank of America Corp. said it restarted about 16,000 foreclosure cases across the U.S. on Monday, but it may be weeks before it is known whether the bank's submission of new documents will pass muster with local judges.
2010-12-09: Greater oversight of reverse mortgages urged
With demand rising for reverse mortgages, senior citizens are particularly at risk of being misled and should be protected by greater government oversight of the industry, according to a report by Consumers Union and two California advocacy groups.
2010-12-08: Housing recovery after 2012, consumers say
"Robo-signing" foreclosure issue blamed for delaying recovery; nearly half consider buying a foreclosure.
2010-12-07: Best case for home prices: 3-4% increase
The best-case scenario for home prices is a 3 to 4 percent annual increase for the next five years while the market wrings out the distressed properties still for sale, according to the Real Estate Research Council of Southern California.
2010-12-06: Bank of America says it met condition of TARP exit
Bank of America has told U.S. regulators that it has sold enough assets this year to meet the final condition that was set on its landmark plan to repay $45 billion in government bail-out funding.
2010-12-05: Deficit plan fails to win panel support
The U.S. deficit commission received the backing of a majority of its 18-strong panel, but fell short of the 14 votes needed to possibly trigger congressional votes on its recommendations.
2010-12-04: Pending sales drop in San Diego, rise nationally
Pending home sales are dropping month by month in San Diego, while they are rising nationally, the latest figures from realty groups show.
2010-12-03: When borrowers default on second homes
Some affluent homeowners have been walking away from a second home or investment property that is worth less than what is owed on the mortgage, even though they can still afford to make the payments.
2010-12-02: Southern California economy improving
For the fourth consecutive quarter, Southern California's leading economic indicators moved up during between July and September, pointing to an increase in economic activity within the next three to six months, according to an index of leading economic indicators released Tuesday by California State University, Fullerton.
2010-12-01: San Diego joins in U.S. home price dip
National view is a double-dip in prices will be evident by spring with one analyst predicting a 5 to 10% price drop in the next few months.
2010-11-30: Get the 'puffery' out of real estate marketing, consultant says
Steve Hendley hopes the three day event will refocus professionals on facts about buying and selling.
2010-11-29: What happened to the governments short sales program?
Like other foreclosure-prevention initiatives, the Obama administration's Home Affordable Foreclosure Alternatives appears to be off to a slow start - just 342 sales have been completed through September.
2010-11-28: Forecast: Calif. home prices to drop 9.9 percent
Real estate trackers from FiServ and Moody's Economy.com forecast that California home prices will fall 9.9 percent in the year ending in June 2011 - fourth biggest drop across the nation.
2010-11-27: New home sales: Down 80 percent from the boom
New home sales dropped to an annual pace of 283,000, according to the Commerce Dept. That was down 8.1 percent from September and 28.5 percent from a year ago when the annualized sales rate was at 430,000.
2010-11-26: San Diego housing affordability up slightly in 3rd quarter
Just over 50 percent of households can afford median-priced home on median household income, up from just 3.6 percent at the peak of the housing boom in 2005.
2010-11-25: New home sales, prices down in October nationally
Commerce estimates 8.6 months' inventory, nearly 18 percent higher than year-ago levels
2010-11-24: Defaults, Foreclosures drop in October
Both are still far above normal levels as housing distress continues locally as well as nationally.
2010-11-23: Comic-Con registration crashes for second time
Three weeks after shutting down registration for next year's Comic-Con convention, organizers were forced to do so once again Monday morning, when badges were scheduled to go on sale.
2010-11-22: Shadow inventory of homes rising
The "shadow inventory" of unlisted bank-owned homes and potential foreclosures increased to 2.1 million units in August, up 10 percent from one year earlier, according to new estimates from CoreLogic.
2010-11-21: New lending guidelines from Fannie Mae
New lending guidelines being rolled out by Fannie Mae will make securing a mortgage a lot easier for some borrowers but harder for others.
2010-11-20: More than half leave Obama mortgage-aid program
Approximately 755,000 borrowers, or 54 percent of those who tried to get their payments lowered through the Obama administration's flagship foreclosure-prevention program have been cut loose through October. That compared to a 53 percent disqualification rate through September.
2010-11-19: Fewer homeowners late on mortgages
The number of mortgage borrowers behind in their loans dropped during the three months ended Sept. 30 to a seasonably adjusted 9.13%, according to a report released Thursday by the Mortgage Bankers Association.
2010-11-18: Prices up but sales down 25% from 2009 levels
Sales drop may owe itself to end to all rebates; prices declined for resale houses from October but still up from 2009.
2010-11-17: San Diego housing faces 8.5% price reduction
San Diego was up 11.6 percent from 2009 but now faces a downturn of 8.5 percent, authors of the S&P/Case-Shiller Home Price Index, say.
2010-11-16: SoCal home sales fall to lowest point in 3 years
Last month was the worst October in three years for home sales in Southern California, forcing a slowdown in the recent rise in prices, according to a survey released Tuesday by MDA Dataquick, a real estate research firm in La Jolla.
2010-11-15: Consumer sentiment rises in early November
U.S. consumer sentiment rose more than expected in early November and hit its best level since June, helped by a slightly better economic outlook and early holiday sales, a survey showed on Friday.
2010-11-14: Stable home prices, low mortgage rates could gas economy
Mortgage rates are hitting another record low just as home prices are firming in more parts of the country, two trends that could help boost the economy.
2010-11-13: County and state home prices facing a 'double dip'
Rebates and low interest rates have not boosted the market as much as proponents hoped.
2010-11-12: Maritime science festival kicks off week of activities
The Maritime Alliance, a San Diego-based non-profit outfit dedicated to promoting local maritime endeavors, is holding its second annual "Maritime STEM Fest" on Saturday. It will run from 9:30 a.m. to 4:30 p.m. at the Embarcadero Marina South.
2010-11-11: San Diego honors its veterans with downtown parade
Live blogging the sights and sounds of the parade from the reviewing stand on Pacific Highway in Downtown San Diego.
2010-11-10: California foreclosure aid fund swells, but banks hesitate
The state's Keep Your Home plan has grown to $2 billion from $700 million. However, mortgage servicers haven't officially agreed to participate in the principal reduction part of the program.
2010-11-09: Record share of first-time buyers
First time homebuyers accounted for half of all home sales from July 2009 through June 2010, according to a NATIONAL ASSOCIATION OF REALTORS survey of buyers and sellers.
2010-11-08: Comic-Con badges go on sale Nov. 22
Comic-Con fans will be given another opportunity on Nov. 22 to nab passes for next year's four day convention
2010-11-05: A tale of two housing busts: Why is California recovering and Florida still struggling?
California and Florida had a lot in common during the housing industry's last cycle, but in the last year or so, California's housing market, though still weak, has begun recovering, while Florida's remains on the critical list.
2010-11-04: How election results could shape housing
Republican gains could mean the end of Fannie, Freddie and, possibly, a scaling back of the mortgage interest tax deduction.
2010-11-03: Freddie Mac posts $4.1-billion loss
Freddie Mac on Wednesday posted a narrower loss of $4.1 billon in the third quarter and also asked for an additional $100 million in federal aid, substantially less than the $1.8 billion it sought in the second quarter.
2010-11-02: California expects mortgage-aid program to begin in weeks
The "Keep Your Home California" program, which was supposed to begin Monday, will be delayed because of logistical issues, according to officials with the California Housing Finance Agency. The program will pay down loan balances and provide monthly cash assistance for struggling California homeowners.
2010-11-01: $8.3 million available in cash for appliances
Officials with California's Cash for Appliances program reported that as of Tuesday evening, the program had approximately $8.3 million available for consumer rebates toward qualifying energy efficient appliances.
2010-10-30: New housing inventory heading below-1,000 mark
New housing market may benefit from dropping inventory, low interest rates and steady prices, MarketPointe says in third quarter report.
2010-10-29: New Zillow chief cites San Diego price trends as signs of hope in the market
Spencer Rascoff, recently elevated to CEO of Zillow, talks about his company and the housing market with Rismedia's Maria Patterson in an online story released Wednesday. In the final exchange, he mentions San Diego's recent price trends as signs that the real estate picture is improving.
2010-10-28: Comic-Con passes go on sale Monday
Comic-Con fans, get ready to hit the Internet Monday morning when the popular four day passes and single day memberships go online for the 2011 summer show.
2010-10-27: San Diego's 15-month home price rise stalls in August
San Diego County's housing market, which led the country in price rises for 15 straight months, turned negative in August as the rest of the nation also seemed to stumble, a widely watched housing index reported Tuesday.
2010-10-26: Consumer confidence rises only slightly in October
The Conference Board said Tuesday that its Consumer Confidence Index rose to 50.2 from a revised 48.6 in September. Economists surveyed by Thomson Reuters expected a reading of 49.2.
2010-10-25: Existing home sales on the rise
Sales of previously owned homes rose 10 percent to a seasonally adjusted annual rate of 4.53 million units last month, the NATIONAL ASSOCIATION OF REALTORS reported Monday.
2010-10-23: Golden Hall selected for homeless shelter, for now
The San Diego City Council finally came to a consensus about where to place its annual emergency winter homeless shelter, but it's far from a sure thing.
2010-10-22: Fannie, Freddie support may reach $363 billion by 2013
The government's bill for bailing out Fannie Mae and Freddie Mac might reach as high as $363 billion by 2013, the Federal Housing Finance Agency said Thursday.
2010-10-21: Southern California home prices rise from August
However, the increases were limited to Los Angeles, Orange County and San Bernardino. Riverside and Ventura were unchanged, while San Diego, as previously reported, was down 2.1 percent.
2010-10-20: Council delays action on homeless shelter again
San Diego's emergency winter homeless shelter is still looking for a place to stay.
2010-10-19: San Diego County housing prices slow to a crawl
Prices were down 1.9 percent from August as demand cooled following end to buyer rebates.
2010-10-18: Airport pedestrian bridge closed for demolition
You can't get there from here department: The pedestrian bridge connecting Terminal 2 at San Diego International Airport to taxis, shuttles and buses and the parking lot has been closed for demolition.
2010-10-17: Bernanke signals intent to further spur economy
The Federal Reserve chairman, Ben S. Bernanke, sent a clear signal on Friday that the central bank was poised to take additional steps to try to fight persistently low inflation and high unemployment.
2010-10-15: Port contractor razes historic airport buildings
2010-10-14: Trolley ridership drops substantially
At a time when many mass-transit systems across the country are enjoying a resurgence, the San Diego Trolley lost 6.5 million passengers.
2010-10-13: California to join multistate inquiry of foreclosures by banks
California will join a multistate investigation into whether banks violated laws by cutting corners while foreclosing on homes.
2010-10-12: Downtown San Diego's largest condo project sold
Vantage Pointe, the mammoth downtown high-rise that failed as a condo project, has been sold to one of the nation's largest apartment owners and operators for $200 million.
2010-10-11: How your FICO score is calculated
There are a few things you can and should know about your FICO score to increase your credit score and make yourself worthy of the credit you want.
2010-10-10: Why the foreclosure mess could last for years
Homeowners in class actions and individual lawsuits across the U.S. claim lenders and servicers have used falsified documents to foreclose on homes, sometimes when the banks didn't hold titles to the properties.
2010-10-09: Bank of America to halt foreclosures nationally
The bank says it is widening its investigation into the handling of paperwork. It previously had halted some foreclosure proceedings and evictions in 23 states, but that did not include California.
2010-10-08: AG Holder says Justice looking into foreclosures
The government is looking into allegations that mortgage lenders in the foreclosure crisis have been evicting homeowners using flawed court papers, Attorney General Eric Holder said Wednesday.
2010-10-07: Home prices and sales to inch up in 2011
San Diego County home prices, which have risen sharply in the last 18 months, are likely to remain flat or drift slightly higher in 2011 as the rest of the state catches up, the California Association of Realtors said Monday.
2010-10-06: Port approves Lane Field hotel park plan
The San Diego Port District reached agreement Tuesday with hotel developers to provide more park space at their downtown waterfront site and hoped this would pave the way for launching the long awaited North Embarcadero Visionary Plan.
2010-10-04: Foreclosure? Not so fast
Increasing numbers of home owners are citing paperwork problems to fight foreclosure.
2010-09-30: No-interest mortgages? No chance
The Federal Reserve's recent indication that it is willing to take extraordinary steps to keep the economy growing and continued concerns of deflation may also put pressure on mortgage rates.
2010-09-29: San Diego ranks 2nd in Case-Shiller July housing index
San Diego ranked second in July in home-price appreciation in the closely watched Standard & Poor's/Case-Shiller Home Price Index issued Tuesday.
2010-09-27: Downsizing is booming
Smaller homes trendy again as baby boomers look to shed excess room and recession makes large homes too costly.
2010-09-24: Auction.com launches home-buying test in San Diego
Company chose San Diego and the fall, the slowest time of the year, for launching its service.
2010-09-23: Housing permits slumped in August
Home building slumped in August to its lowest monthly level since early last year, as builders struggled to compete with low-cost distressed resales and the end to federal buyer incentives.
2010-09-22: More mortgage loans - first time since '05 peak
U.S. mortgage lending rose for the first time in four years in 2009 as a decline in borrowing rates spurred refinancings, according to a report released Monday in Washington by the Federal Financial Institutions Examination Council.
2010-09-21: Local defaults, foreclosures up from July
Since the subprime mortgage market crisis struck in the summer of 2007, monthly foreclosures have topped the 1,000 mark every month from January 2008 except three times in 2009 and four this year, including August.
2010-09-19: Where do you put your money in this economy?
Jittery about the economy and leery of the zig-zagging stock market, investors have spent much of the past year running for cover - seeking out such traditional havens as bonds or gold.
2010-09-18: Low rates make 15-year mortgages feasible for many refinancers
This week, the rates offered by lenders on 15-year fixed-rate loans averaged 3.82 percent, Freddie Mac reported Thursday. That was down slightly from 3.83 percent last week and the lowest in the 19 years that the mortgage finance giant has tracked such loans.
2010-09-17: Most oppose walking away from mortgage
59 percent of those surveyed say it's wrong to stop making payments and go into foreclosure.
2010-09-16: Home price reductions hold steady in San Diego
2010-09-15: Southern California homes sales fall by 13.8 percent
2010-09-14: Breathing room: Housing's least underwater areas
Nearly 21.5 percent of the nation's single-family homes with a mortgage were underwater at the end of second quarter 2010, according to Zillow.
2010-09-13: Local home sales inch up in August
The number of homes and condos sold in San Diego County increased slightly in August from July, says a new report from the San Diego Association of Realtors.
2010-09-11: Tax refund on way for some homebuyers
County Treasurer Dan McAllister will mail out 1,115 checks totaling $845,544 to buyers and possibly sellers who paid too much in taxes because the purchase price of the property was lower than the assessed value on the county's books.
2010-09-10: Mortgage rates rise slightly
The streak has ended as mortgage rates finally inched up in the weekly survey by Freddie Mac.
2010-09-09: Zillow.com says San Diego home values increase
2010-09-08: Gov't launches plan to help "underwater" borrowers
Starting September 7th 2010, the Federal Housing Administration will allow lenders to provide qualified, underwater borrowers with refinanced loans if the lender agrees to forgive at least 10 percent of the original mortgage amount.
2010-09-07: How Did The Employment Report Affect Mortgage Rates?
The Employment Situation Report. This release provides four headline measures on the health of the jobs sector.
2010-09-05: Value of California's properties falls 1.8% to $4.4 trillion
The value of all types of properties declined 1.8 percent this year to $4.4 trillion, the California Board of Equalization reported Thursday. The total value decreased 2.4 percent last year.
2010-09-04: Fannie cracks the foreclosure whip
Fannie Mae says it will begin fining loan servicers who take too long to complete foreclosures once it's been determined that delinquent borrowers don't qualify for a loan modification or other alternatives like short sales.
2010-09-03: Pending home sales rise in July
2010-09-02: San Diego housing inventory static in August
2010-09-01: More homeowners rush to refinance
Low rates means more homeowners are looking to refinance but a shaky housing market puts the damper on new mortgages.
2010-08-31: Vantage Pointe gives back deposits
Developer of downtown's largest condo highrise is unable to meet requirements for closing escrows and is returning deposits to buyers.
2010-08-30: Five things about: the week in real estate
If you are the type of person who lives and dies by housing market news, then you probably died a little inside after this week's raft of less-than-stellar reports. Home sales declined and foreclosures - while down - continue to be a drag on the market.
2010-08-29: San Diego County home prices decline
San Diego, by way of comparison, ranked 50th of the 303 areas surveyed with a decrease in home prices of -1.05 percent.
2010-08-27: Upside-down owners are playing the waiting game
The last housing downturn in San Diego started approximately in 1990, with prices dropping about 18 percent in four years. After the housing market hit bottom, he said it took about three years for prices throughout the region to climb back to the previous peak.
2010-08-26: Mortgage rates fall to historic lows
Another week, another round of historically low mortgage rates. A weekly survey by Freddie Mac saw fixed mortgage rates drop again. Fixed rates hit a new record low while 5-year adjustable rates tied its previous low.
2010-08-25: Local new homes sales fall, prices rise
New home sales in San Diego County fell 26 percent in June from a year ago while the median price increased 4.5 percent to $499,000, says a new report from the California Building Industry Association.
2010-08-24: California home prices better than most states
In June, home prices in California, including distressed sales, increased by 5.9 percent from a year ago, behind only South Dakota at 6.9 percent and Maine at 6.4 percent. Rounding out the top five was Virginia with a 4.7 percent increase and the District of Columbia at 4.3 percent.
2010-08-23: Mortgage protection bill sent to governor
The California Assembly voted 49 to 14 yesterday to approve a C.A.R. sponsored measure expanding protections for homeowners who have refinanced their mortgages and now are facing foreclosure.
2010-08-22: Homes for first-time buyers slightly less affordable
n as prices inch up, entry level homes in San Diego are still far more affordable than in the past.
2010-08-21: Real estate economist gives forecast
Do you find yourself constantly whining: "Enough already. When is the economy and housing market going to turn around?"
2010-08-20: Mortgage rates inch downward
Stop if you've heard this before but mortgage rates decline -- albeit slightly -- again this week, says a weekly survey by Freddie Mac.
2010-08-18: Home owners flock to refinance
The Mortgage Bankers Association says that loan application volume for the week ending Aug. 13, increased 13 percent from a week earlier, with the majority of those loans being refis.
2010-08-17: Less than half of all home sale attempts successful in 09
A survey gauging how 500,000 homes that were listed for sale last year in seven of the nation's biggest counties fared, found that around 47 percent of those listings had sold by last week, while just 4 percent were still active.
2010-08-16: San Diego housing sales drop in July in wake of rebate end
San Diego County housing sales dropped 21 percent from June as the end to federal rebates took hold.
2010-08-14: Expect housing prices to soften, S.D. realtors president says
Mark Marquez, president of the San Diego Association of Realtors, gives his take on the local housing market.
2010-08-13: The skinny on state homebuyer tax credits
Sure, there's still time to apply for the state's tax credits but don't get your hopes up.
2010-08-12: Short sales soar in California, U.S.
Short sales are projected to balloon to 400,000 in 2010, according to a report released Tuesday by Core Logic.
2010-08-11: Price reductions on San Diego homes increase
2010-08-10: 20% of mortgages are underwater
More than 20% of the nation's mortgage borrowers owe more than their homes are worth.
2010-08-09: Zillow says San Diego home prices improve
San Diego prices are up in the latest Zillow survey, but it's unclear if the region can maintain its momentum.
2010-08-07: Should you refinance your mortgage?
The headlines and buzz around historic lows in mortgage rates might have you dreaming about refinancing. After all, mortgage rates hit record lows for the sixth time in seven weeks, mortgage buyer Freddie Mac said Thursday.
2010-08-05: When will home prices reach their peak?
A report from Fiserv says it'll be 14 years before San Diego County home prices matches their once-lofty heights.
2010-08-04: Housing price drop in San Diego county predicted
2010-08-03: Pending Home Sales Slip
2010-08-02: Has worst of housing crisis passed?
Over the past year, mortgage defaults and home foreclosures have dropped sharply in San Diego County, sparking hopes that the worst of the housing crash has passed, but has it?
2010-07-31: Downtown San Diego Condo midlevel market is picking up.
When it comes to Downtown San Diego, it's a tale of two condo markets. Sales of luxury units are slow. But the midlevel market is picking up.
2010-07-29: The threat of 'sidelined' home sellers
The prospect of home price stabilization has many asking "How many homeowners have been sitting on the sidelines during the housing downturn, waiting for massive price plunges to pass?" In some of the nation's markets, real estate agents are reporting an uptick in listing from "sidelined" sellers testing the waters.
2010-07-28: San Diego home prices up 12.4% in May
San Diego's increase was the second highest of the 20 metro areas surveyed, says the latest Standard & Poor's Case-Shiller Home Price Index.
2010-07-27: Home prices increase 1.3 pct. in May
Home prices rose in May for the second straight month as federal tax incentives pulled more buyers into the market.
2010-07-26: Goodbye Comic-Con
It was another big year for the comics and pop culture conention, which once again drew more than 100,000 attendees over four days.
2010-07-25: New Downtown San Diego library may be catalyst for regeneration
Judging by six other large cities that built main libraries in the past 15 years, the transformation of San Diego's Downtown will be both subtle and significant.
2010-07-23: San Diego foreclosures lowest in three years
San Diego County had fewer mortgage defaults and foreclosures in the second quarter than it has had in the past three years, according to a report released by MDA DataQuick, a real-estate research firm based in La Jolla.
2010-07-22: Consultant has record of sunny stadium forecasts
Last week's ballyhooed consultant report saying Petco Park has been a boon for San Diego didn't mention a possible Chargers stadium downtown but that may be where it's heading.
2010-07-21: With creativity, businesses get share of Comic-Con cash
Travis Ahern had hoped to rent out his family's downtown warehouse to a long term restaurant tenant, but when Disney came calling last year to take over the 15,000 square foot building
2010-07-20: Homebuilder confidence in U.S. falls to one-year low
The National Association of Home Builders/Wells Fargo confidence index decreased to 14 this month, the lowest level since April 2009, from 16 in June, data from the Washington- based group showed.
2010-07-19: Recovery pace slows in 2nd quarter, poll finds
The U.S. recovery continued during the second quarter of this year with more businesses hiring workers and fewer cutting jobs, but the pace of growth has slowed, according to the National Association for Business Economics latest survey.
2010-07-15: Homeless center proposal advances
City leaders are poised to approve a $31 million proposal to convert Downtown San Diego's World Trade Center building into a one-stop service and housing center for the homeless after a City Council committee moved the project forward Wednesday.
2010-07-14: Ballpark's 7.6% return tops forecasts
Since voters approved the Padres move to Petco Park located in the East Village District in Downtown San Diego a dozen years ago, the relocation is generating a far stronger return on investment for the city than originally envisioned.
2010-07-13: Home prices in San Diego County take a breather
Sales activity for June is flat vs. a month ago, but more robust than earlier this year, MDA DataQuick reports.
2010-07-12: Economic forecast promising
Despite the lingering effects of the recession, Californias economic growth through 2015 will be above the national average, said a report released Thursday by the international economic analysis firm IHS Global Insight.
2010-07-09: 30-year mortgage rate edges down to new low
Rates on 30-year, fixed mortgages averaged 4.57 percent this week compared with 4.58 percent last week, Freddie Mac announced Thursday.
2010-07-08: San Diego County's home prices up 7% in May
San Diego County's home prices rose 7 percent in May from the previous year, the second highest year-over-year increase in the country, according to the real estate website zillow.com. Nationwide, home prices dropped 3.8 percent in the same time period.
2010-07-07: Mortgage applications rise 7 pct. as rates fall
Applications for home loans rose last week as consumers raced to refinance at the lowest rates in decades.
2010-07-06: Study highlights San Diego's climbing home prices
In this volatile and frequently gloomy housing market, San Diego stands out as a metropolitan city with continued growth in home prices.
2010-07-05: HUD offers LGBT housing protections
The nation's housing agency announced a new policy Thursday to provide further assistance to lesbian, gay, bisexual and transgender people who file complaints of housing discrimination.
2010-07-02: Home purchase contracts fall 30 percent in May with tax-credit expiration
The NATIONAL ASSOCIATION OF REALTORS Pending Home Sales Index, a forward-looking indicator based on the number of purchase contracts signed in the U.S., decreased to 77.6 in May from 110.9 in April.
2010-07-01: Homebuyer credit extension heads to Obama
First-time home buyers will have until Sept. 30 to close on their purchases and land an $8,000 tax credit under a bill passed by the Senate late Wednesday. President Obama is expected to sign the bill, which was overwhelmingly approved by the House on Tuesday.
2010-06-30: Home prices up 3.8 percent in April
Home prices rose 0.8 percent in April compared with March and were up 3.8 percent from a year ago, according to the S&P/Case-Shiller Home Price Index of 20 major housing markets.
2010-06-28: Americans spend more in May, see incomes rise
According to the Commerce Department; Conumer spending rose 0.2 percent in May 2010 compared with April 2010.
2010-06-27: Brokers, agents can't take referral fees for home warranties
Federal regulators will publish an interpretive rule Friday formalizing their position that real estate brokers and agents are prohibited under existing law from receiving fees for referring business to home warranty companies.
2010-06-26: Housing Upturn Proves Elusive
Despite some signs of improvement, pessimism abounds about the U.S. housing market. The top worry: the withdrawal of government stimulus in the next few months.
2010-06-25: Government lowers growth estimate for 1st quarter
The government lowered its estimate of how much the economy grew in the first quarter of the year, noting that consumers spent less than it previously thought.
2010-06-24: Banks: We're hiring so we can make more home loans
Despite new homes sales reaching a new historical low in May, banks are hiring hundreds of loan originators to prepare for what they believe will be a significant pick-up in lending.
2010-06-23: Home sales dip despite tax credit
The housing market may be on the verge of taking another plunge that could weaken the broader economic recovery, although the trend appears different in San Diego.
2010-06-22: Borrowers face foreclosure after Obama loan assistance program fails to provide help
Nearly 436,000 borrowers have dropped out of the Obama administration's main mortgage aid program.
2010-06-21: People optimistic about economy
Californians are feeling better about the economy than they were a few months ago, but they continue to hold back on big-ticket spending, according to a recent survey by Chapman University.
2010-06-19: Homebuyer tax credit going fast
As of Thursday, 15,220 applicants had applied for $78.1 million in credits nearly 80 percent of the $100 million available after just six weeks.
2010-06-17: High default rate seen for modified mortgages
Among those with loans that aren't backed by any federal agency, the redefault rate within a year is likely to be 65% to 75% under the Obama administration's Home Affordable Modification Program, or HAMP, according to a report to be released Wednesday by Fitch.
2010-06-16: SoCal home prices rise at fastest pace in 5 years
Home prices throughout Southern California rose by 22.5 percent in May, the highest year-over-year jump in five years, MDA DataQuick reported Tuesday.
2010-06-15: San Diego County home prices at highest since August 2008
San Diego County home prices rose to a median $340,000 in May, the highest since August 2008, as the proportion of foreclosure sales dropped below the 30 percent level for the first time in 2 years, MDA DataQuick reported Monday.
2010-06-14: Mortgage rates are near all-time low
Rates on 30-year fixed mortgages averaged 4.72 percent this week compared with 4.79 percent last week, according to Freddie Mac.
2010-06-11: Manchester giving up control of Hyatt in Downtown San Diego
Hotel magnate Douglas Manchester, who remains committed to redeveloping a key waterfront parcel, has decided to give up controlling interest in his 1,625-room Manchester Grand Hyatt in Downtown San Diego to Hyatt Hotels.
2010-06-10: Bank of America may lead banks in home-equity losses
Bank of America, JPMorgan Chase, and Wells Fargo may lead 20 publicly traded U.S. banks that charge off as much as $40.9 billion on home-equity investments this year, according to Fitch Ratings.
2010-06-09: Developers dreaming of upturn in Downtown San Diego
With Downtown San Diego construction at a standstill, newly built condo projects slowly selling out and hundreds of resales on the market, homebuilders already are dreaming of the next upturn in development.
2010-06-08: A real estate recovery in 2013
Continuing foreclosures and an "overhang" in housing inventory likely will prolong the housing slump for several more years, said economists at an annual meeting of the National Association of Real Estate Editors.
2010-06-07: Homebuilding Stocks Get Ahead of Themselves
The group has rallied about 29% this year, but investors may be overly optimistic about a return to profitability.
2010-06-06: Profiteers, not government, to blame for housing crisis
Former HUD Secretary Henry Cisneros placed the blame for the recent housing crisis on unscrupulous interests that fueled reckless lending and weak regulation rather than housing policies of the past two decades.
2010-06-05: Delinquencies ease, but REOs up
The number of homes whose owners were behind on their loans or in foreclosure declined for the third consecutive month in April, but the number of homes in lenders' "real estate owned," or REO, inventories, continued to grow, according to the latest numbers from Lender Processing Services.
2010-06-04: Looking for lending
Real-estate prices are enticingly low in many areas of the country, prompting business owners to pursue deals on storefronts, manufacturing facilities, and other commercial properties. However, banks remain wary of commercial real-estate loans, making landing financing a time-consuming and tedious process.
2010-06-03: Mortgage rates up from yearly lows, Freddie Mac says
Rates on 30 year fixed mortgages averaged 4.79 percent this week, an increase from 4.78 percent last week, Freddie Mac reported. A year ago, the rate averaged 5.29 percent.
2010-06-02: County's home values rise, but caution advised
With 11 consecutive months of growth, San Diego County is leading the nation's largest metro areas in home-price appreciation, the widely watched Standard & Poor's/Case-Shiller Home Price Index showed Tuesday. In March, the index of San Diego prices was up 10.8 percent from the previous year, the biggest increase since the heady days of mid-2005.
2010-06-01: New home sales jump 14.8 percent in April
Sales of new homes posted another large gain in April as buyers rushed to sign contracts before government tax credits expired.
2010-05-31: Should San Diegans buy, refinance or wait?
With mortgage rates again nearing their 50-year low, would-be San Diego County buyers and homeowners have to make a choice.
2010-05-28: Mortgage rates and a choice
With mortgage rates again nearing their 50-year low, would-be San Diego County buyers and homeowners have to make a choice.
2010-05-27: Housing report shines light on San Diego
The nation's housing markets are weakening, but San Diego's prices are strengthening at an accelerated clip, the widely watched Standard & Poor's/Case-Shiller Home Price Index showed Tuesday.
2010-05-26: San Diego County's home values rise, but caution advised
With 11 consecutive months of growth, San Diego County is leading the nation's largest metro areas in home-price appreciation, the widely watched Standard & Poor's/Case-Shiller Home Price Index showed Tuesday. In March, the index of San Diego prices was up 10.8 percent from the previous year, the biggest increase since the heady days of mid-2005.
2010-05-25: Tax credit and low mortgage rates boost home sales
A now-expired homebuyer tax credit and low mortgage rates helped boost sales of previously occupied homes in April. The improvements aren't likely to last.
2010-05-24: Nearly 75 percent of homes are affordable
More than 72 percent of American families making the nation's median income of $63,800 a year, could afford to buy a home during the first three months of 2010, according to a report from the National Association of Home Builders (NAHB) and Wells Fargo.
2010-05-23: Homeowners slowly open wallets for improvements
People are starting to spend money on their homes again. Not a lot, but enough that paint store owners, home designers and kitchen refinishers are hopeful that this year represents a turn away from the disastrous depths of the recession last year.
2010-05-22: Local housing recovery expected to slow
San Diego County home prices, which began to recover last year, will continue rising but at a slowing pace as government stimulus programs expire, Beacon Economics forecasters predicted Friday.
2010-05-21: The San Diego Chargers first drawing of new football stadium in the East Village
The San Diego Chargers have released the first architectural drawing of the football stadium the team wants to build in Downtown San Diego.
2010-05-21: County housing 11th least affordable
San Diego County housing affordability dropped a notch this year as more higher-priced homes entered the market, the National Association of Home Builders reported Thursday.
2010-05-20: County mortgage delinquency rate falls
San Diego County may have passed the peak in the distressed housing market, as the mortgage delinquency rate dropped for the first time in four years.
2010-05-19: Home prices hold steady in Southern California
Southern California home prices remained flat from March to April, as sales shifted into May for tax-rebate reasons, MDA DataQuick reported Tuesday. Still, the year-over-year increase was 15.4 percent to an overall median of $285,000.
2010-05-18: San Diego County median home prices dip
Analysts say lenders are holding back on foreclosure activity while they work with troubled borrowers to modify loans or permit them to try to sell their homes through short sales, selling for less than the mortgage balance.
2010-05-17: Resale home prices rise in county
San Diego County resale house prices rose 14.7 percent in the first quarter to a median $379,000, the National Association of Realtors reported Tuesday, making the county one of 91 metro areas showing a year-over-year increase
2010-05-14: Foreclosures plateau - finally. Repossessions soar
The total number of foreclosure filings - notices of default, auction notices and bank repossessions - declined 9 percent from March to April, and 2 percent compared with April 2009.
2010-05-13: More U.S. residents on the move
The percentage of U.S. residents who moved between 2008 and 2009 jumped to 12.5 percent (37.1 million people). That increase comes after a record-low move rate between 2007 and 2008: 11.9 percent, or 35.2 million people.
2010-05-12: Mortgage defaults in U.S. show signs of slowing
TransUnion says serious delinquencies fell slightly in the first quarter. Fitch says serious delinquencies on subprime loans packaged into mortgage-backed securities fell a second month in a row.
2010-05-11: Developer Sales Down, Resales Up in Downtown San Diego
Developer sales dominated the Downtown San Diego Condo and Loft sales in January 2010; however changes seem to be around the corner.
2010-05-11: Share of Americans on the move edging up
Americans are on the move again, after years of staying put. But they're not going very far, taking few chances because of weak housing and job markets. Roughly 12.5 percent of the U.S. population, or 37.1 million people, moved to a new home, up from a low of 11.9 percent, or 35.2 million, in 2008, according to census figures released Monday.
2010-05-10: San Diego leads nation in rising home prices
San Diego County led the nation in rising home values in March even though prices nationwide dropped 3.8 percent, according to a report released today by Zillow.com.
2010-05-08: Want to Play the Credit Scoring Game?
FICO scoring is like a game and the consumer controls a major portion of it. Thirty percent (30%) of the credit score is determined by the total amount of revolving credit one has, such as that generated by credit cards and department store cards.
2010-05-07: California home tax credit going, going
The California home buyer tax credit returned Saturday after running out of money last year in just four months. Home buyers interested in obtaining the tax break to help reduce the cost of buying a home better act fast.
2010-05-06: Tax-credit expiration to steal wind from real estate sales
The NATIONAL ASSOCIATION OF REALTORS (NAR) has lowered expectations for sales of U.S. resale homes in 2010, according to its latest forecast report, released Tuesday, but sales are still expected to rise this year compared to 2009.
2010-05-05: New home supply stabilizes in San Diego County
The Union Tribune's article "New-home supply stabilizes" on Wednesday May 5th, 2010 talks about people taking advantage of the first time home buyer tax credit in the first quarter of the year, making the supply of new homes drop back to a more sustainable level. This balance is to proceed for the next three to four years. An amount of 4,000 houses, condos and apartments are to be built this year which is higher than the 3,000 from last year. During the first quarter surprisingly numbers show that the average cost for condos and other attached home types rose to $493,135 and that is 10% higher than the third quarter of 2009.
2010-05-04: Consumer spending rose by most in 6 months
Consumer spending rose 0.6 percent in March, the most in five months, the Commerce Dept. today reported.
2010-05-03: Will loss of tax credit discourage home buyers?
When the federal first-time home buyer's credit expired 04/30/2010, it will be just the most recent example of the government scaling back its support for the residential housing market.
2010-04-30: Riding the REO wave to a new high
The number of homeowners in foreclosure or behind on their mortgages continued to decline in March, but inventories of real estate owned homes repossessed by lenders climbed to a new high of 1.1 million, according to Lender Processing Services.
2010-04-29: Mortgage rates stay above 5 percent
Rates on 30-year fixed mortgages averaged 5.06 percent this week compared with 5.07 percent last week, according to Freddie Mac.
2010-04-28: San Diego home prices stand alone!
San Diego County's housing market was the strongest in the nation in February, the widely watched Standard & Poor's/Case-Shiller Home Price Index reported Tuesday.
2010-04-27: Private mortgage insurance companies return to market
As the FHA tightens its requirements for borrowers with small down payments, independent insurers are back in the game and offering competitive rates.
2010-04-26: ArtWalk 2010 draws 120,000 to the Little Italy District in Downtown San Diego
The 26th annual art festival, held Saturday and Sunday in Little Italy, celebrated all things artistic from paintings and sculptures to dance performances and live music.
2010-04-25: Tax credit extension? Don't bet the house on it
Industry groups say that the federal tax credit has run its course, and neither the NATIONAL ASSOCIATION OF REALTORS (NAR) or the National Association of Home Builders are actively pursuing an extension at this time.
2010-04-24: Buyers nationwide push new-home sales up 27%
Sales of new homes surged across the nation last month, the Commerce Department reported Friday, in the latest sign that the beleaguered housing market might be righting itself after three years of decline.
2010-04-23: Little change in home loan rates, Freddie Mac reports
Rates on 30-year fixed mortgages averaged 5.07 percent this week, unchanged from last week, according to Freddie Mac.
2010-04-22: California sees decline in mortgage defaults
Mortgage default notices for California homeowners fell 4 percent in the first quarter of the year, another sign that foreclosures could be easing in lower-cost areas, a research firm said Tuesday.
2010-04-21: Home loan default numbers improving
San Diego County defaults fell as foreclosures rose slightly in the first quarter of the year from year-ago levels, signaling a possible easing of the housing crisis, MDA DataQuick reported Tuesday.
2010-04-20: CalPERS changes policy on real estate investing
The nation's largest pension fund on Monday changed its policy on investing in real estate to balance its socially responsible investment philosophy with its quest for profits.
2010-04-19: Mortgage rates reverse course and fall
30-year fixed-rate mortgages averaged 5.07 percent this week, down from 5.21 percent last week, but higher than the 4.82 percent average of a year ago, according to Freddie Mac.
2010-04-18: Housing starts, permits rise as builders rebound
Applications for permits to build new homes increased 7.5 percent in March to a seasonally adjusted annual rate of 685,000 from February's revised 637,000 rate, the Commerce Dept. today reported.
2010-04-17: Skip the mortgage, pay the credit card
In California, more than 10 percent of credit card-carrying consumers chose to pay their credit card bill rather than their mortgage as of last fall, according to a recent study published by TransUnion.
2010-04-16: Downtown condo developer defaults on loan
The developer of Downtown San Diego's largest condominium project, Vantage Pointe has defaulted on a $210 million construction loan but insists it plans to move forward with sales as it seeks to work out an agreement with its Canadian lender.
2010-04-15: Affordable housing goes Downtown San Diego
High-rise living with expansive bay and city views, ample outdoor terraces, easy access to public transit and, most importantly, deeply affordable rents are what await 229 low-income households next month when a 23-story tower opens in Downtown San Diego.
2010-04-14: Median home prices keep rising
Southern California home prices last month rose 14 percent from a year ago to a median $285,000, MDA DataQuick reported Tuesday, further evidence that the region's real estate market is stabilizing.
2010-04-13: San Diego County housing market strengthening
San Diego County home prices rose their fastest in five years on an annual basis last month, as the median increased 15.8 percent to $330,000.
2010-04-12: California Legislature approves tax break for people in foreclosures, short sales
The California Legislature yesterday passed SB 401 (Wolk), a measure providing tax relief on mortgage debt forgiven in a short sale. Governor Schwarzenegger is expected to sign the bill once it reaches his desk.
2010-04-11: Data shows rising median price
A monthly review of multiple listing service data in 26 market areas found that the median price of for-sale homes including Downtown San Diego Condos and Downtown San Diego Lofts rose 1.07 percent in March, to $263,753, according to ZipRealty.
2010-04-09: Mortgage rates on 30-year U.S. loans jump to 5.21 percent
Rates for 30-year fixed loans rose to 5.21 percent this week from 5.08 percent last week, Freddie Mac reported.
2010-04-08: Greenspan defends Fed's handling of subprime mortgage market
While admitting some mistakes, Former Federal Reserve Chairman Alan Greenspan on Wednesday defended the central bank's oversight of the subprime mortgage market, arguing that consumer protection was an important priority and that it did not make sense to outlaw all such loans.
2010-04-07: San Diego County may lead rental market rebound
San Diego County, with its relatively strong economy, stands to lead Southern California's apartment market out of the doldrums in the next year, according to a University of Southern California report being released.
2010-04-06: San Diego County December home sales rise
Home sales in San Diego County rose by 9.8 percent in December, compared to the same month a year ago, while prices increased by 10 percent, a real estate information service reported Tuesday.
2010-04-05: Average rate for 30-year mortgages back above 5 percent
Rates on 30-year fixed mortgages averaged 5.08 percent this week compared with 4.99 percent last week, the highest level since the first week of January, according to Freddie Mac.
2010-04-04: Deadline looms to use federal foreclosure money
With a use-it-or-lose-it deadline just months away, communities have spent less than half of $4 billion available under a federal program to redevelop abandoned and foreclosed properties.
2010-04-02: Land deal buoys San Diego Convention Center
A complicated land deal has been reached that bolsters hope for a $753 million expansion of the San Diego Convention Center, a move viewed as crucial to preventing blockbuster events such as Comic-Con from fleeing to a different city.
2010-04-01: San Diego near top of home-price index
San Diego prices were up 5.9 percent in January compared with a year earlier, with only San Francisco showing a larger gain. The nationwide index was down 0.7 percent, its smallest drop since January 2007.
2010-03-31: San Diego County housing prices up 0.4%
The latest reading from the S&P/Case-Shiller Home Price Index yesterday showed San Diego County prices up 0.4 percent in January, the fourth straight gain of half a percentage point or less. That compares with monthly gains as big as 2.5 percent last summer.
2010-03-30: Consumer spending up, sign of decent recovery
Consumers boosted their spending by 0.3 percent in February, slightly slower than the 0.4 percent increase registered in January and the smallest increase since September.
2010-03-29: Obama plans new measures to help struggling homeowners
The administration will use money from the $700 billion Troubled Asset Relief Program to encourage banks to take losses on mortgages that are valued above the homes' current prices.
2010-03-28: California may have to pay tax on canceled mortgage debt
Under a federal tax law passed in 2007 that is in effect until the 2012 tax year, debt on a primary residence canceled in a so-called short sale, foreclosure or loan modification typically is not considered taxable income.
2010-03-27: Economy in U.S. preserves biggest gain in six years
The rise in gross domestic product, while smaller than the government's previous estimate issued last month, marked the best performance in six years.
2010-03-26: Citigroup agrees to modify some second mortgages
Citigroup is the latest lender to commit to the government's program to modify second mortgages.
2010-03-25: Schwarzenegger expected to sign new $10,000 California home buyer tax credit
The California legislature on Monday passed AB 183, providing $200 million for home buyer tax credits. The Governor is expected to sign the bill into law this week.
2010-03-24: Fewer in San Diego County is moving away
A still depressed housing market and high jobless rate appear to be slowing the once large movement of people fleeing San Diego County for lower cost destinations.
2010-03-23: HUD scrutinizes 'admin fees'
General Counsel at the Dept. of Housing and Urban Development (HUD) issued a letter to real estate industry lawyers clarifying the government's position on add on fees.
2010-03-22: Notices of default up 24% in San Diego County!
Homeowners in San Diego County defaulted at their highest monthly rate of mortgage defaults in more than a year in February.
2010-03-19: Northern California median home price rises in February.
The median home price in Northern California posted a year-to-year increase in February for the fifth consecutive month, but sales continued to slog through a slow patch that began at the beginning of 2010.
2010-03-18: Home prices up for 6-county region
Southern California housing prices rose 1.5 percent last month as sales stagnated, San Diego-based MDA DataQuick reported Tuesday.
2010-03-17: SoCal median home price up in Feb from Jan.
A tracking firm says the median home price in Southern California rose 10 percent last month from February 2009, its third consecutive year-to-year increase.
2010-03-16: San Diego County housing prices rebound in February
San Diego County housing prices bounced back in February to reach a median $322,000 that was in the range of prices for much of last year, MDA DataQuick reported Monday.
2010-03-15: Tax exemption for homeowners in distress goes to governor
The California Senate voted 21-15 yesterday to approve legislation that would prevent home owners who have had a foreclosure, loan modification or short sale from being required to pay state income taxes on the debt forgiven. It now goes to Gov. Schwarzenegger, who has 12 days to sign or veto the measure once it reaches his desk.
2010-03-13: California State tax on losses may stay
A state income tax on losses forgiven by lenders in short sales and loan modifications has been repealed by the Legislature, but Gov. Arnold Schwarzenegger may veto it as he did similar legislation last year.
2010-03-12: First-timers snap up 47% of homes
Nearly half of home purchases statewide last year went to first time buyers, the highest since 1995, the California Association of Realtors reported yesterday. But its chief economist said first timer dominance may dip a bit this year because of the pending end to the $8,000 federal homebuyer tax credits.
2010-03-11: San Diego's original City Hall building in the Gaslamp District is sold!
San Diego's first city owned City Hall, which began life in the 1800s as a bank and is now a restaurant and apartment complex, has been sold for $3.3 million to a family investment group after a failed effort to turn it into Downtown San Diego Condos.
2010-03-10: Home supply increased in February
The supply of homes available for sale in 27 major metropolitan areas rose 4.2 percent in February compared with a month earlier, according to figures compiled by ZipRealty Inc.
2010-03-09: Program Will Pay Homeowners to Sell at a Loss
In an effort to end the foreclosure crisis, the Obama administration has been trying to keep defaulting owners in their homes. Now it will take a new approach: paying some of them to leave.
2010-03-08: California tax law unsettled on home short sale
Accountants say rising numbers of California taxpayers who did short sales or received loan modifications in 2009 now fear they will be walloped anew by a cash starved state government intent on taxing their forgiven debt.
2010-03-05: Study Sees FHA Taking More Risk
Economists from the New York Federal Reserve and New York University warn that the Federal Housing Administration is overlooking factors that signal higher losses, increasing the likelihood the agency may need taxpayer funds.
2010-03-04: 90% of agents down on HAMP
A survey by real estate media and marketing provider Homes and Land found that only 10 percent of the real estate agents surveyed believe the Obama administration's Home Affordable Modification Program (HAMP) is reducing foreclosures in their market.
2010-03-03: Hefty tax bill may hit those who lost home
San Diegans who have lost their homes through foreclosure or short sales thought they had emerged from the dark times and could start rebuilding their lives.
2010-03-02: The big picture: San Diego and megaregions
While San Diegans fret over lost jobs, underwater mortgages, disappearing fire pits and unfilled potholes, a small group of big thinkers is leapfrogging beyond today's crises to take us to the proverbial next level - San Diego as player in a giant "megaregion," stretching from Los Angeles to Las Vegas to northern Baja California.
2010-03-01: U.S. Economy grew at 5.9% annual pace last quarter
The U.S. economy expanded at a 5.9 percent annual rate in the fourth quarter, more than the government reported last month.
2010-02-28: Housing Recovery is looking a lot shakier than expected
The recent slump in housing is making some analysts uneasy about a recovery that many thought sustainable just a couple months ago and comes at a time when the Federal Reserve is nearing the end of a critical, year long program to support the mortgage market.
2010-02-26: Housing market shows weakness for 2nd month
Sales of previously owned homes plunged in January to their lowest level since summer, providing fresh evidence that high unemployment and tight lending standards are outweighing the government's attempts to prop up the market.
2010-02-25: Building permits and new home sales up!
Building permits and new home sales rose last month in San Diego County, offering a bit of optimism to an industry hit hard by five years of downturn.
2010-02-24: New home sales hit record low in January
Sales of new homes plunged to a record low in January, underscoring the formidable challenges facing the housing industry as it tries to recover from the worst slump in decades.
2010-02-23: Foreclosures, defaults fall; analysts urge caution
Foreclosures and defaults continued to fall last month as distress seemed to ease in the local housing market, locally based MDA DataQuick reported yesterday.
2010-02-19: Rates on 30-year home loans fall to 4.93 pct
Rates for 30 year home loans edged lower for the second straight week, a report said Thursday, but remained above last year's record lows.
2010-02-18: Home prices roll backward
San Diego County home prices fell last month, erasing all of the gains achieved in the second half of 2009, MDA DataQuick reported yesterday. But analysts said the figures represented a statistical and seasonal fluke, and predicted the market is likely to see little fluctuation in values all year.
2010-02-17: Homes sales, prices down for January in San Diego County
San Diego County housing prices and sales dropped last month as investors scooped up foreclosure properties and owner occupant buyers held back, at least for the moment, MDA DataQuick reported Tuesday.
2010-02-16: Good real estate news: Home equity is rising again
With all the bad news about underwater homeowners and strategic walkaways, you might think that American homeowners' equity holdings are in the tank. But the least-publicized recent statistic on real estate is that, despite these scary reports, home equity is again on the rise.
2010-02-15: San Diego County third in office leasing in 2009
San Diego County ranked third nationally in office leasing last year, but any recovery in rental rates, occupancy and sales will be slow, according to Jones Lang LaSalle, one of the nation's largest commercial real estate management companies.
2010-02-14: Credit unions push for new loan rules
As politicians bash banks for not lending enough to stimulate the economy, credit unions have launched a campaign to persuade lawmakers to loosen regulations so they can make more loans to businesses.
2010-02-12: U.S. aims to stop backing mortgages
The Federal Reserve plans next month to end a $1.25-trillion mortgage-bond-purchase program that has helped keep mortgage interest rates near a record-low 5 percent.
2010-02-10: Remodeling industry sees business building
San Diego County's remodeling contractors and suppliers, who have seen a sharp drop in business since the housing boom went bust, think things might finally be turning around.
2010-02-08: Official says Fed might buy more mortgage-backed securities
The Federal Reserve would consider reopening its program to support the mortgage market if interest rates spiked or the economy showed new weakness, according to Federal Reserve Bank of New York President William C. Dudley.
2010-02-07: Local response to a changing market
San Diego County home builders, who downsized and scraped by in 2009, are coming back in the opening weeks of 2010 with more than a dozen new projects that feature smaller and simpler floor plans, lower prices, more use of sustainable green technology, and less frills and waste than was common in the oversize McMansions of the past decade.
2010-02-06: Million-dollar-plus home sales fall in 09
Million-dollar-plus home sales in San Diego County slipped for the fourth straight year in 2009, MDA DataQuick reported yesterday, proof that the real estate slump continues at the top end even as sales pick up at the bottom.
2010-02-05: Sales of million-dollar homes drop 24 percent
Sales of million-dollar homes in California fell 24 percent in 2009, the fourth straight annual decline and the lowest total in seven years, a research firm reported Thursday.
2010-02-04: Apartment activity is on upswing
San Diego County's apartment market ranks second nationally after Washington, D.C., in its outlook for stability and possible growth in 2010, according to Marcus & Millichap's annual apartment report covering 44 metro areas. Two other reports came to the same conclusion: San Diego's rental market is on the way up.
2010-02-03: California is first in eco-friendly building codes
Even as the construction business continues to struggle, San Diego contractor Russ Earnshaw is embracing a landmark set of environmental codes in California that will raise the cost of new buildings, create more government oversight and increase industry competition once green practices become the norm.
2010-02-02: Housing market: a new normal
A new normal will prevail when the housing market recovers, according to a report released by the Urban Land Institute.
2010-02-01: Long commutes make risky borrowers, study says
The likelihood of mortgage foreclosure increased as neighborhood vehicle ownership rates rose, according to a new study sponsored by the Natural Resources Defense Council. The study looked at trends associated with 40,000 mortgages in San Francisco, Chicago, and Jacksonville, Fla.
2010-01-30: Mortgage rates nearly flat this week
The average rate on a 30 year, fixed mortgage was 4.98 percent this week, down slightly from 4.99 percent last week, Freddie Mac reported.
2010-01-29: Mortgage applications fall 11% last week
Applications for home loans declined approximately 11 percent last week, according to the Mortgage Bankers Association.
2010-01-28: San Diego area foreclosures jump; defaults slump
Home foreclosures in San Diego County surged last month, even as default notices dropped to their lowest level in more than a year.
2010-01-27: San Diego County housing prices buck trend
San Diego County, where housing prices rose and fell ahead of most of the country, was one of only four areas nationally to see an upturn beginning late last year.
2010-01-26: San Diego County home prices on the upswing
San Diego County was one of four metro areas to see an improvement in home prices in November.
2010-01-23: Fannie, Freddie Losses May Hit U.S.
The U.S. government's move to deepen its ties to mortgage finance giants Fannie Mae and Freddie Mac by agreeing to absorb unlimited losses for the next three years is igniting a debate over whether it should bring the business operations of the companies onto its books.
2010-01-22: Rates on 30-year home loans fall to 4.99 pct
Rates for 30 year home loans fell to a shade below 5 percent this week but remained above last month's record lows.
2010-01-21: Hoping for something to build on
The nations economic recovery is under way, but the housing market still faces a long road back to normal, three industry economists said yesterday at the annual convention of the National Association of Home Builders.
2010-01-20: New revisions to FHA credit standards
Federal Housing Administration (FHA) may announce new revisions to FHA credit standards as early as this week. Options include raising the minimum down payment, establishing a minimum credit score, increasing the amount that borrowers have to pay for mortgage insurance, and reducing the amount of money sellers can kick in for closing costs.
2010-01-20: San Diego County leads region in home-price gains
San Diego County, with a 10 percent increase, led Southern California in home price improvement last month, although Los Angeles had the highest sales growth on a year-over-year basis, MDA DataQuick reported yesterday.
2010-01-20: San Diego County median housing price on upswing
San Diego County's median housing price rose in December for the first time in four months, MDA DataQuick reported yesterday, adding further evidence that the housing market is stabilizing after four years of declines.
2010-01-20: San Diego County housing prices edge upward
San Diego County home prices rose $5,000 to a median $330,000 in December after staying flat at $325,000 for four months, MDA DataQuick reported Monday.
2010-01-16: Government Mortgage Plans Aids 7% of Borrowers
The Obama administration's mortgage relief plan provided help to 7 percent of borrowers who applied for the program last year, according to the Treasury Dept. Of the nearly 900,000 borrowers who have enrolled in the program, approximately 66,500 have received permanent relief, and another 46,000 have been approved and should be finalized soon.
2010-01-14: Home-price discounts hit new low
A report by Trulia.com found that as of Jan. 1, 21 percent of homes currently on the market have experienced at least one price reduction.
2010-01-12: Banks Brace for Bailout Fee
The Obama Administration is aiming to hit banks with a fee to recoup losses associated with the Government's bailout of financial firms and the auto industry, Administration Officials say.
2010-01-10: With mortgages underwater by a record $745 billion, regulators may force lenders to cut principal
Despite encouragement from policymakers, many banks have moved slowly to aid distressed homeowners. When they do modify mortgages, the fixes, such as interest rate cuts, often are temporary and only put off the day of reckoning.
2010-01-09: FDIC considers plan to penalize banks whose pay practices encourage risky moves
The Federal Deposit Insurance Corp. is considering financial penalties for banks whose pay practices encourage reckless behavior, potentially opening a new front in the federal government's effort to reshape the way bankers are paid, according to people familiar with the matter.
2010-01-08: Some economists not buying proposed homebuyer tax credit
Some economists and advocacy groups are opposed to the governor's proposed new round of home buyer tax credits, claiming the money should be used for community college budgets and health programs.
2010-01-07: Schwarzenegger proposes new round of homebuyer tax credits
Gov. Arnold Schwarzenegger today proposed setting aside $200 million for a new round of $10,000 state tax credits for buyers of new and existing homes in California.
2010-01-06: Time To Reduce Mortgage Principal Payments
James Lockhart, former head of the Federal Housing Agency, told CNBC Tuesday that he wants more generous mortgage modifications, including principal payment reductions.
2010-01-05: Pending home sales fall 16 percent in November 2009
The number of buyers who agreed to purchase previously occupied homes fell sharply in November, a sign sales will fall this winter, undermining last summer's recovery.
2010-01-04: Local Home Values Down 37.9% from Peak
San Diego home values are now down 37.9% from the peak of November, 2005, according to data from Standard & Poor's/Case Shiller that came out Dec. 29.
2010-01-03: San Diego County median price 48.4% higher than in January 2000
For all the talk of the housing bust, San Diego County's median price ended the decade up 48.4 percent from 2000. If in January 2000 you bought a home at the median price of $219,000 and went to sleep like Rip Van Winkle, you awoke at the end of 2009 to see your home worth $325,000.
2009-12-31: San Diego County home prices fall less than other metro areas
San Diego County home prices have fallen less than than all but two other metropolitan areas over the past year, according to the closely watched Standard & Poor's Case-Shiller Home Price Index for October.
2009-12-30: San Diego County housing index up again
San Diego County ranked as the nation's third fastest recovering housing market in October, though the increase in prices is slowing here and elsewhere, according to the closely watched Standard & Poor's/Case-Shiller Home Price Index.
2009-12-29: November sales and price report
C.A.R. reports November home sales increased 4.7 percent; median home price increased 5.8 percent
2009-12-28: Losing a job but keeping your house
The California Association of Realtors said it is extending for an extra year a program to help first time home buyers keep paying their mortgages if they lose their jobs due to layoffs.
2009-12-27: San Diego County's housing slide may set record
Housing construction fell back last month in the usual seasonal slowdown, keeping San Diego County on track to mark its worst year on record, the Construction Industry Research Board reported yesterday.
2009-12-23: Housing distress eases in November
Housing distress in San Diego County eased in November, as lenders posted fewer foreclosures and default notices, MDA DataQuick reported yesterday.
2009-12-21: Foreclosure sales being canceled
Foreclosure sales have been canceled at an increasing rate as loan modifications take hold, according to ForeclosureRadar, a Stockton-area data company that monitors California's distressed housing market.
2009-12-18: Citigroup to suspend foreclosures for 30 days
Citigroup Inc. will suspend foreclosures and evictions for 30 days in a temporary break for about 4,000 borrowers during the holiday season.
2009-12-16: Distressed properties slow San Diego regions recovery
As San Diego County's housing market slowly climbs back to normal, Southern California as a whole still suffers from a high level of distressed properties, MDA DataQuick reported yesterday.
2009-12-15: Median home price at $325,000 again
If the San Diego County housing market craves stability, it's got it. For the fourth straight month, the county's median price stood at $325,000 in November, MDA DataQuick reported yesterday.
2009-12-14: Mortgage rates bounce off record lows
Rates on 30 year fixed rate mortgages averaged 4.81 percent this week, a rise from last week's 4.71 percent, according to Freddie Mac.
2009-12-13: Waking from a slumber: local housing
San Diego County's new-home market seems poised to make a small but welcome comeback next year as builders awaken from a three-year hibernation during the worst construction downturn since World War II.
2009-12-11: Chargers: Stadium plan in Downtown San Diego needs public funds
For nearly seven years, the San Diego Chargers have said they would build a new stadium without taxpayer money. Now, they're calling an audible.
2009-12-10: Property tax filing deadline is Thursday December 10th 2009
Thursday is the last day for nearly 1 million property owners in San Diego County to pay the first installment of their tax bill.
2009-12-09: The recovery is about to begin, economist says
As housing experts cross off 2009 as the fourth year of the real estate downturn, they see a "dim light at the end of the tunnel" and a "glimmer of hope" in 2010.
2009-12-08: Consumer borrowing falls for 9th straight month
Consumer credit declined at an annual rate of 1.7 percent in October, compared with a 4.2 percent decline in September, the Federal Reserve today reported.
2009-12-07: Mortgage broker doesnt see market settling until at least 2012
Over the past weekend, members of the Western division of the National Association of Mortgage Brokers took a break from the second-worst real estate market in a century and descended on the MGM resort hotel in Las Vegas for their annual convention.
2009-12-03: MTS balking at additional cleaning at stadium site
The Metropolitan Transit System is open to the city of San Diego buying and relocating its downtown bus yard to make way for a Chargers football stadium but opposed to additional site cleanup, a spokesman said yesterday.
2009-12-02: A first: '10 property taxes will dip
San Diego County homeowners can look forward to a very slight decrease in property taxes next year, the equivalent of two tall mochas at Starbucks, as a result of the first decline in the state consumer price index on record.
2009-12-01: Treasury to name lenders that fail to modify loans
The Obama administration vowed yesterday to shame lenders into moving faster to modify troubled home loans, bringing cheers from housing advocates and San Diego Condo and Loft owners desperate to hang on to their homes.
2009-11-30: Mortgage rates at record lows
Rates on 30 year, fixed mortgages averaged 4.78 percent for the week ending Nov. 25, down from 4.83 percent last week, according to Freddie Mac's primary mortgage market survey.
2009-11-29: California Housing Market Turns Corner
California, one time hub of subprime mortgage lending and the nation's leader in home foreclosures, has turned the corner toward a housing recovery, according to the state Association of Realtors.
2009-11-27: Mortgage defaults down 7% in month
Mortgage defaults in San Diego County fell 7 percent from September to October in a sign that, at least for the moment, housing distress is easing, according to figures released yesterday by MDA DataQuick.
2009-11-25: New U.S. home sales rise 6.2 percent
Sales of new homes rose last month to the highest level in more than a year as strong activity in the South offset weakness in the rest of the country.
2009-11-24: Index shows moderate gain in home prices in September 2009
Home prices in 20 U.S. cities ticked up modestly in September, marking the fifth consecutive month of improvement, according to a closely watched national index released this morning. In Los Angeles, home prices increased 0.7% above their September levels. San Diego was up 1.1% over the prior month. San Francisco saw a 1.7% month-over-month gain. Meanwhile, Las Vegas continued to suffer, falling 1.2% from the prior month.
2009-11-23: Existing home sales at highest level since 2007
Sales activity rises more than expected in October, by 10.1%, to 6.1 million annual units. Existing home sales surged in October to the highest level in more than 2-1/2 years, according to a real estate industry report issued Monday.
2009-11-22: DOWNTOWN SAN DIEGO - Voter support unclear for projects
The emerging vision for Downtown San Diego's skyline includes nearly $1.4 billion in grand civic projects that would serve residents for generations to come.
2009-11-21: Housing fee foes, backers face off
San Diegos affordable housing advocates and representatives of the business and development community squared off yesterday over plans to revisit a long-standing fee levied on commercial developers to help subsidize new affordable housing for low-income households.
2009-11-20: San Diego Convention Center gets more land to expand
A key piece of waterfront real estate for the expansion of the San Diego Convention Center is being acquired by the nonprofit city agency that manages and markets the Downtown facility.
2009-11-19: San Diego County home prices inch higher
San Diego County marked an economic milestone last month when home prices exceeded year-ago levels for the first time in 40 months, MDA DataQuick reported yesterday. The increase was small - less than a percentage point - and it might be temporary.
2009-11-18: Sothern California median home price increases in October 2009
The median home price in Southern California rose nearly 2 percent last month from September, as the inventory of homes for sale continued to shrink and lenders worked to avoid fresh foreclosures, a tracking firm said Tuesday.
2009-11-17: Pace of mortgage help rising but still slow
Before the housing downturn, mortgage servicing companies had collections depts, that mainly tried to wring payments from tardy borrowers. Now the same depts, augmented with thousands of new employees, are engaged in the far more complex task of figuring out whether millions of borrowers qualify for help.
2009-11-16: Realtors cheer prediction of rising home prices
The National Association of Realtors' chief economist predicted yesterday that housing prices will rise for the first time in four years in 2010 as sales return to a normal pace.
2009-11-15: Realtors: home prices to rise 4 percent in 2010.
Home prices are expected to grow modestly next year and sales will keep rising as the housing market continues to recover from the worst downturn since the Great Depression, the National Association of Realtors said Friday.
2009-11-12: Housing agency's financial cushion sinks
The Federal Housing Administration's financial cushion has fallen to a dangerously low level, but government officials say the agency should avoid a taxpayer bailout under "most economic scenarios."
2009-11-11: Median home prices fell nationwide in 3Q
A real estate group says home prices fell in eight out of every 10 U.S. cities in the third quarter of this year as heavily discounted distressed sales made up 30 percent of all deals.
2009-11-10: New HUD rules aim to get rid of closing cost surprises
Beginning Jan. 1, loan changes and settlement fees will be spelled out on a revised, more consumer-friendly version of the good-faith estimates form that borrowers are supposed to receive within three days of their mortgage applications.
2009-11-09: President Obama signs bill assisting homebuyers!
President Barack Obama signed a $24 billion economic stimulus bill into law Friday, giving tax incentives to prospective homebuyers and additional jobless benefits to those idled by the business slump.
2009-11-08: Skies to be bluer for local real estate
San Diego and Washington, D.C., are the only two major metro areas nationally that will see a slight improvement in real estate investment conditions next year, the Urban Land Institute reported yesterday.
2009-11-06: Homeowner rescue proposed
Financially troubled homeowners facing the possibility of losing their homes to foreclosure may qualify for a federal program that would allow them to stay put while paying rent.
2009-11-05: Frenzy, Deadlines and Price Increases Keep Market Murky
Housing prices in San Diego County rose again in August, rounding out a summer of monthly price gains, according to data released Tuesday. Prices rose a seasonally adjusted 1.52 percent between July and August, the Standard & Poor's/Case-Shiller home price index showed.
2009-11-04: Port of San Diego Attractions Recognized as 'Best in Class'
The USS Midway Aircraft Carrier Museum, Hornblower Cruises & Events, North and South Embarcadero Marina Parks and the waterfront San Diego Convention Center were recognized as "Best in Class" by event planners and readers of Southern California Meetings + Events magazine.
2009-11-03: Home equity loan market remains very tight
Not only are fewer credit lines and loans being granted despite improvement in the rest of the home loan market, the terms are a lot less attractive than before.
2009-11-02: California official warns of loan resets
Homeowners with pay option adjustable-rate mortgage (ARM) loans are sitting on "ticking time bombs that the lending industry has the power to defuse," California's attorney general said in asking 10 lenders and loan servicers for information that would make clear the extent of the problem and what they intend to do about it.
2009-11-01: San Diego Port Says No to Chargers' Stadium at Tenth Ave. Marine Terminal
Stories in the local media continue to refer to the San Diego Unified Port District's Tenth Avenue Marine Terminal as a possible site for a new Chargers football stadium, but Port Commission Chairman Stephen P. Cushman said such a development is impossible.
2009-10-28: Slow home-price rebound for San Diego county expected
San Diego County and most other major metro areas continued a slow turnaround in home prices this summer, a major Wall Street index reported yesterday.
2009-10-28: New home sales fall a surprising 3.6 percent
Sales of new homes dropped unexpectedly last month as the effects of a temporary tax credit for first-time owners started to wane.
2009-10-27: Case-Shiller: Home Prices Rise 1.2% in August
The market value of U.S. homes in 20 major cities rose by 1.2% compared with July, the fourth monthly increase in a row, according to the Case-Shiller home price index released Tuesday by Standard & Poor's.
2009-10-26: Home sales rise 9.4% in September, beating forecasts
Home resales in September clocked the largest monthly increase in 26 years as buyers scrambled to complete their purchases before a tax credit for firs time owners expires.
2009-10-22: Home price index falls 0.3 percent in August
The Federal Housing Finance Agency reports U.S. home prices declined 0.3 percent in August from July. The agency's index is based on loans owned or guaranteed by Fannie Mae and Freddie Mac.
2009-10-21: San Diego County's foreclosures drop slightly
Foreclosures fell slightly in San Diego County last month but defaults rose a bit, a sign that lenders continue to wrestle with beleaguered homeowners who can't afford their mortgages.
2009-10-20: State bans advance fees for loan mod help
Gov. Arnold Schwarzenegger on Oct. 11 signed into law a bill, SB 94, that prohibits any person from demanding or collecting an advance fee from a consumer for loan modification or mortgage loan forbearance services.
2009-10-19: Government unveils new mortgage help
The Obama Administration is unveiling a new program to provide support to state and local housing agencies to provide help to thousands of home buyers and renters including Downtown San Diego Condo and Loft buyers.
2009-10-18: Housing Supply Remains Lean
Sales increased last month and remained slightly above the levels from the same time last year. While sales are still on the weak side compared to San Diego's real estate history, they've soared from the record setting low levels in which they were mired in late 2007.
2009-10-17: Home prices across area ending decline, data show
According to a quarterly breakdown from MDA DataQuick, San Diego County's three-year slide in home prices is ending, neighborhood by neighborhood!
2009-10-15: Committee sends Downtown library plan to council for vote
Supporters of a new main library in Downtown San Diego sidestepped an obstacle yesterday that could have halted the project after nearly a decade of design and fundraising.
2009-10-14: Homeless shelter to go Downtown San Diego again
After a month of political wrangling, the San Diego City Council has picked a site for its winter homeless shelter, sort of. The council voted 6-2 to put the shelter at the same location as last year. 15th Street and Island Avenue in the East Village District as long as the private owner allows it. The owner has previously said he would not host the shelter there this year.
2009-10-13: San Diego Council takes another step forward on new City Hall in Downtown
The city of San Diego took the next step Monday toward building a new $432 million City Hall in Downtown San Diego by entering into exclusive negotiations with a developer.
2009-10-12: Another Strong Month for Median Home Prices in San Diego
The median price per square foot of San Diego resale homes rose yet again in September. Prices by this measure rose 2.2 percent for detached homes, 5.5 percent for San Diego Condos, and 3.1 percent for a volume-weighted aggregate of the two.
2009-10-09: NAR: Appraisal rules undercut tax credit
The Federal Housing Administration's new guidelines for ordering appraisals won't have some of the unintended consequences that those put in place by Fannie Mae and Freddie Mac in May did, the National Association of Realtors says.
2009-10-08: Decline seen in home sales
The California Association of Realtors predicted yesterday that the slumping economy will likely reduce home sales by 2.3 percent next year after they rose the last two years.
2009-10-07: Obama backs extension of tax credit
White House spokesman Robert Gibbs confirmed yesterday that President Obama supports an extension of the first-time homebuyer tax credit, along with prolonging jobless benefits and health care subsidies for unemployed workers.
2009-10-05: Public Workshop Set to Discuss North Embarcadero Port Master Plan Amendment
The Port of San Diego is hosting a Public Scoping Meeting on Thursday, October 15, 2009, from 57 p.m. at the Embarcadero Planning Center (formerly Coral Reef Restaurant) at 585 Harbor Lane (map), San Diego, California. The meeting is to solicit public comments regarding the scope and content of the environmental evaluation for significant issues related to the North Embarcadero Port Master Plan Amendment.
2009-10-05: Government Intervention in the Housing Market a Fact of Life
For a long time Rich Toscano have been discussing, with various degrees of rantiness, government intervention in the housing market. When Rich first touched on the subject in early 2007, before any bailouts had begun, some of the potential interventions he envisioned seemed kind of far-fetched. By late 2007, as he noted in a Manimal-referencing followup, many of these same interventions were already underway.
2009-10-03: The Port's New Deal
There's a certain skill needed to control 2,500 acres of the region's most precious land along San Diego Bay, as the seven commissioners of the Unified Port of San Diego do.
2009-10-01: August pending home sales rise to 2 1/2 year high
Aspiring homebuyers rushed to take advantage of a tax credit for first time owners that expires in November, driving up the number of signed sales contracts for the seventh straight month in August.
2009-09-30: Homeowners in financial trouble often redefault
Lenders are ramping up efforts to avoid home foreclosures, but a report by bank regulators says more than half of borrowers who get help fall behind again.
2009-09-29: Home Prices Rebound as Tax-Credit Expiration Looms
A national average of home prices increased 1.6% from June to July, according to the S&P/Case-Shiller report
2009-09-28: Historical Home Sale Volume Measured in Dollars
Given the declines in both prices and volume since the height of the boom, it should not be surprising that the dollar volume of homes sold since that time has dropped hard. The twelve-month average dollar volume hit its bubble-peak high in June 2005 at over $1.83 billion per month of activity.
2009-09-23: Sewer Gas Backs Up Downtown Condo Complex " The Grande"
The Homeowners Association of the Grande North in Downtown San Diego has filed a lawsuit alleging that to much sewer gas from the City's main line is leaking into the building.
2009-09-22: Despite Rebound, Home Sales Historically Weak
Home sales may have recovered strongly from the depths they plumbed in 2007 and 2008, but they are still anemic when compared to San Diego sales activity over the past couple of decades.
2009-09-17: Housing construction up, but picture is mixed
Housing construction rose in August, but the results were mixed, with the large single family sector falling for the first time in six months.
2009-09-16: Southern California home sales take a dip
The six county Southern California region, including San Diego County, experienced a rare dip in home sales in August as the low-cost-foreclosure market contracted, MDA DataQuick reported yesterday.
2009-09-15: San Diego City Council rejects shelter location in East Village in Downtown San Diego!
Proposals to place a temporary winter shelter for the homeless in an East Village District warehouse or in a parking lot in Balboa Park were rejected by the San Diego City Council last night after numerous residents expressed opposition. By a 5-2 vote, the council directed city staff to return early next month with alternative sites that are more suitable and located outside of downtown and its immediate surroundings.
2009-09-15: Foreclosures' Slice of Housing Sales Shrinks
Here's some new MDA DataQuick numbers, measuring sales that closed in August. All Home Sales Up: 3,306 homes sold in August, up 5 percent from August 2008. That's the 14th straight month with a year-over-year rise for home sales.
2009-09-14: San Diego County's median house prices continue rise
San Diego County's housing picture continued to brighten in August as median prices rose for the fifth straight month, MDA DataQuick reported Monday. The median price stood at $325,000, up $5,000 from July and $45,000 higher than the most recent low of $280,000 set in January.
2009-09-10: Public Meeting to Provide Update on Ruocco Park in Downtown San Diego
The Port of San Diego will be holding its second public meeting on the proposed Ruocco Park tomorrow, Sept. 10, 2009, at the Embarcadero Planning Center, 585 Harbor Lane in Downtown San Diego. The meeting will be held from 6 to 8 p.m.
2009-09-09: Loans 'Meant for a Market Where Home Prices Went Only Up'
The New York Times' David Streitfeld checks in today on one of the biggest question marks for housing market stability -- what happens to the holders of interest only loans when they hit the point where their payments skyrocket.
2009-09-08: Port of San Diego Approves Six Environmental Projects Totaling $480,000
The Board of Port Commissioners has approved funding for six environmental projects, including shoreline erosion protection in south San Diego Bay and a white sea bass restocking program at the North Embarcadero. They will be paid for through the Port's Environmental Fund.
2009-09-07: New rules for home appraisals under fire
Critics see changes as roadblock to recovery. Just as San Diego County's housing market seems ready to rebound, a new impediment is threatening to stymie any improvement.
2009-09-03: Cheap Homes Selling Faster, But Not Anything Like Before
For a while RICH TOSCANO has been tracking a set of statistics that highlighted the great disparity between homes sales in higher priced and lower priced areas of San Diego. What he has been seeing for quite some time now is that compared to the expensive areas, the cheap areas had fallen a lot more in price but had experienced drastically higher sales volume on a year-over-year basis.
2009-09-02: July pending home sales rise to 2-year high
A gauge of future U.S. home sales rose more than expected in July to the highest level in over two years as first time buyers rushed to take advantage of a tax credit that expires this fall.
2009-08-31: Home Prices Rise, Uncertainty Persists
Local home prices rose in June, the first month-to-month increase in more than two-and-a-half years, according to the newest Standard & Poor's/Case-Shiller index. San Diego home prices increased a slight 0.67 percent between May and June, according to a version of the index adjusted for seasonal patterns.
2009-08-29: Stimulus gives lifeline to affordable housing in Downtown San Diego
Many moribund affordable housing projects throughout the San Diego county will likely be revived this year by federal stimulus funds, but the money won't be enough to resuscitate the backlog of developments meant to serve the region's neediest.
2009-08-29: Hot day for some cool music in the East Village District
How hot was it when Street Scene kicked off its 25th anniversary edition yesterday afternoon in the East Village District in Downtown San Diego?
2009-08-27: Housing: Still a Long Road to Recovery
The housing market may be busier, but that doesn't mean home values are set to rebound any time soon. If you're selling your home, the good news is that you're likelier to find a buyer now than in the last couple of years.
2009-08-26: July new US home sales up 9.6 percent
Sales of new homes surged 9.6 percent in July, another sign the housing market is climbing back from the historic bottom it reached early this year. Driven by falling prices, the fourth straight monthly increase was greater than expected.
2009-08-25: San Diego County's foreclosure sales down from June
Some of San Diego County's most depressed real estate markets looked a little better in July, while some of the most prosperous looked a little worse, according to default and foreclosure figures released yesterday by MDA DataQuick.
2009-08-25: Index shows home prices increase from 1Q to 2Q
Home prices across most of the country have started to rise from the depths of the housing slump, a critical trend that will help stabilize the broader U.S. economy, according to new figures released Tuesday.
2009-08-24: Snags, Still, in Foreclosure Aid
The Housing Commission wants to try yet another tack to disperse the federal funding that arrived in San Diego in April: buying foreclosures itself, straight from the bank, and then reselling them to first time buyers.
2009-08-20: Affordability of homes in San Diego County dips, but still near record best.
San Diego County housing remains at near record affordability levels, but rising prices could once again make it harder for buyers to land their American dream. The National Association of Home Builders reported yesterday that 56 percent of homes sold locally in the second quarter of the year were affordable to median household incomes.
2009-08-19: Star of India heads to dry dock
The San Diego waterfront's iconic tall ship gets towed off to a South Bay drydock for once-a-decade inspections and hull repairs. Watch the video here.
2009-08-18: SoCal housing prices continue rebound
Southern California housing prices and sales rose in July, continuing a rebound from the lows of a few months ago, MDA Data Quick reported Tuesday.
2009-08-15: Homebuying affordability leaps
Index: 59% of renters should be able to buy; 46% last year. Three years of declining home prices have meant good news for first time homebuyers, many of whom had been frozen out of the market when prices hit the stratosphere.
2009-08-14: Falling prices boost home affordability
San Diego County's declining home prices have boosted first time buyer affordability to 59 percent, more than twice what it was two years ago, the California Association of Realtors reported Friday.
2009-08-13: Foreclosures rise 7 percent in July from June
The number of U.S. households on the verge of losing their homes rose 7 percent from June to July, as the escalating foreclosure crisis continued to outpace government efforts to limit the damage.
2009-08-12: Home sales rise from 1st quarter to 2nd
U.S. home sales grew in the second quarter in 39 states, another sign that the ailing housing market is finally coming to life. The biggest drop, of nearly 53 percent, was in Fort Myers, Fla. Prices also fell 35 percent or more in Phoenix, Riverside, Calif. and Las Vegas. The biggest price gain, of nearly 31 percent, was in Davenport, Iowa, followed by Cumberland, Md., at nearly 22 percent.
2009-08-11: Real estate slump blamed for Barratt American's failure
Barratt American, once one of San Diego County's leading home builders, is going out of business, a victim of the real estate slump and, perhaps, its expansion into pricey housing projects and big master planned communities.
2009-08-07: Survival TV: What's Up Downtown
Well, it's no baby panda being born, but the partners at NBC 7/39 had Kelly Bennet in the studio yesterday for their weekly Survival in San Diego update. Kelly chatted with Catherine Garcia about this $14 million infusion for a downtown affordable housing project and about comparing Downtown San Diego's condo stock to some other big cities:
2009-08-06: Feds Revivie Downtown San Diego Housing Project
Funding sources for affordable housing projects especially have been dropping like flies. That created huge problems for projects like Cedar Gateway, a 65 unit affordable housing complex at 6th Avenue and Cedar Street in Downtown San Diego.
2009-08-05: Oval park isn't part of waterfront plan in Downtown San Diego
San Diego port officials sketched out a large, oval public park to beautify the Downtown waterfront in the area's master plan years ago. But the latest proposal shows a smaller, hardscape plaza that would double as the driveway to a cruise-ship terminal at Broadway and North Harbor Drive.
2009-08-04: Price Declines Slowing, But Recovery Still Appears Distant
San Diego County home prices were down 18.52 percent from a year earlier, according to the most recent Standard & Poor's/Case-Shiller index for May, released Tuesday.
2009-08-04: Pending home sales index rises again in June
Pending U.S. home sales rose in June for the fifth straight month, another encouraging sign of life for the embattled U.S. housing market, the National Association of Realtors reported Tuesday.
2009-08-03: Perspective on the San Diego Home Price Rally
Earlier in the week (and incessantly before that) home prices have a seasonal tendency to rise in the spring and summer even during the midst of a multi-year price decline. That sounds like a good enough excuse to make a chart.
2009-07-30: The End of the Housing Bust?
"Home Prices Rise Across the U.S." says the front page of the Wall Street Journal. "3-Year Descent in Home Prices Appears At End," says the same spot on the New York Times. CNBC devoted an hour to the subject last night. Newsweek has called the recession over on its cover this week.
2009-07-29: San Diego County's economy perks up
With local home construction, stock prices and consumer confidence on the rise for the third month in a row, San Diego County's economy seems to be on the road to recovery, according to an index of economic indicators released yesterday by the Burnham-Moores Center for Real Estate at the University of San Diego.
2009-07-28: Index shows home prices increase from April to May
Home prices in May posted their first monthly increase since the summer of 2006, indicating prices are finally stabilizing, data Tuesday showed.
2009-07-27: Vantage Pointe project in Downtown San Diego: a new plan for survival
After three years of construction, the developer of the 679 unit Vantage Pointe project wants to divide the 40 story East Village high rise into five residential projects.
2009-07-27: New-home sales up 11% in June from previous month
Sales of new single family homes were up 11% in June from the month before, as buyers responded to price cuts and tax credits meant to clear the still massive backlog of unsold homes.
2009-07-22: Home foreclosure rate jumps in June
Hopes that a recent rise in San Diego County home prices would signal an end to the housing slump were tempered Wednesday when MDA DataQuick reported that foreclosures in June surged nearly 66 percent over the previous month.
2009-07-21: Loft for Sale: 'It Needs a Life' in the East Village Distrcit in Downtown San Diego
In the interview this weekend with prominent local architect Jennifer Luce, included many of her thoughts about the East Village/Ballpark District in Downtown San Diego, a community that has changed dramatically in recent years.
2009-07-20: Here's a potpourri of housing/economy news for to start off the week in Downtown San Diego
First, an update to my post on the plan to help first time home buyers snap up foreclosures including in Downtown San Diego.
2009-07-16: San Diego County Home Sales
A look at recent home sales in the San Diego County real estate market. Market at a Glance figures are county-wide figures. Median prices for the current month and one year ago for single family homes, condominiums and lofts in Downtown San Diego and new homes.
2009-07-16: Median home price up in June in San Diego County
San Diego County's median home price rose for the third consecutive month in June, hitting $314,250, the highest figure since October, and raising hopes that the region's slumping housing market may finally be poised for a comeback.
2009-07-16: Foreclosures rise 15 percent in first half of 2009
The number of U.S. households on the verge of losing their homes soared by nearly 15 percent in the first half of the year as more people lost their jobs and were unable to pay their monthly mortgage bills. On a state-by-state basis, Nevada had the nation's highest foreclosure rate in the first half of the year, with more than 6 percent of all households receiving a filing. Arizona was No. 2, followed by Florida, California including Downtown San Diego and Utah. Rounding out the top 10 were Georgia, Michigan, Illinois, Idaho and Colorado.
2009-07-15: Housing Bust Leads to Rise in Mortgage Scams
When he was Governor of California in the 1970s, Jerry Brown got the nickname "Governor Moonbeam" for his hippy-dippy ways. But he's pretty shrewdly getting attention these days for targeting scammers who prey upon distressed homeowners.
2009-07-14: Loan Mods: Great, If You Can Make It Through the Red Tape
Last week, wearing shorts in the July heat, Adil Zakaria signed papers to agree to a reduced monthly mortgage payment, the culmination of a process begun before Halloween. The implementation of loan modifications has long been touted as among the biggest hopes that the foreclosure flood will subside in San Diego County. Analysts look at a rocky economy and risky mortgages and forecast more foreclosures ahead
2009-07-13: A Housing Recovery: Not So Fast
While data suggest housing is close to a bottom in some ways, few analysts see a rebound any time soon. Stocks of home builders have had an impressive run recently, thanks to a stream of improving macroeconomic data, including home sales and consumer confidence, climbing an average of 38% since March 9.
2009-07-09: Foreclosures fall 11% in the Second Quarter, Loan Application Up
Prashant wrote recently about a second wave of foreclosures possibly headed our way in the second half of this year as banks tried to unload homes they can't refinance. But for now at least the big wave of bank owned properties appears to have crested. Thank moratoriums, bailouts, reforms, and negotiations that help strapped homeowners hang on to their properties, says the property information specialists at Foreclosures.com.
2009-07-08: A Run On Housing Inventory
The supply of homes available for sale has been unusually low in comparison to demand this year, at least by recent standards. That trend became even more pronounced last month. The number of months' worth of San Diego housing inventory dropped to just over 4 months in June. As the accompanying graph shows, this is quite low in comparison to anything we've seen in recent years.
2009-07-07: Developer hoping to make its mark in Downtown San Diego's The Mark
When San Diego developer Doug Wilson debuted his 32-story, downtown condo building two years ago, he did it in style, feting 650 guests with go-go dancers and acrobatic performances, specialty cocktails and gourmet fare.
2009-07-07: Get ready for another big wave of foreclosures arriving as soon as this summer
First time home buyers and investors are responsible for the spike in sales, especially in hard hit California including Downtown San Diego, Florida, Nevada, and Arizona. But the inventory of bank owned homes is now likely to grow, putting increasing pressure on already low prices. And the rising unemployment rate will only compound the situation.
2009-07-06: Housing's Long-Haul Recovery
Despite recent good news, government help will fade, prices will keep falling, and the real estate bear market could go on for years.
2009-07-02: Perplexed by SD Housing? You're Not Alone
Perplexed by the current San Diego County housing market? You've got company. Buyers, sellers, real estate agents, economists and bankers are all trying to get their heads around the question of where this market is going, and the tea leaves are not exactly easy to read.
2009-07-01: Investing in Home Loans Online
Investors purchase stocks online. Will they buy somebody's mortgage over the Web as well? A start-up called BigBidder.com hopes so. The backers of BigBidder already run lfc.com, a commercial real estate auction site, and Freedom Realty Exchange (fre.com), a site that sells homes online.
2009-06-30: Home values start to stabilize
There is another sign the beleaguered housing market is stabilizing - while a key index of 20 major cities tumbled by 18.1 percent, it marked the third straight month the decline was not a record.
2009-06-29: Imagining Downtown San Diego 500,000 Years Before Condos
Pat Sena is hard to locate among a swarm of construction workers digging a 25 foot hole for a new building in Downtown San Diego. His orange faded t-shirt and hard hat and work boots do little to distinguish him from the rest of the workers on the site.
2009-06-26: A Hotel/Apartment Project, But Where Are the Apartments?
In place of what was once a Super 8 motel at the corner of Fir and Columbia Streets in Downtown's Little Italy in San Diego, a dramatically remodeled 193-room hotel -- now called the Porto Vista Hotel and Suites -- is drawing considerable buzz.
2009-06-24: May new home sales dip 0.6 percent
New U.S. home sales fell slightly last month, in another sign that the housing market's recovery is likely to be gradual and prolonged.
2009-06-23: California and Downtown San Diego 92101 May Home Sales
An estimated 39,051 new and resale houses and condos were sold statewide last month. That was up 2.9 percent from 37,967 in April and up 18.3 percent from 33,024 for May 2008. Sales have increased on a year-over-year basis the last eleven months. California sales for the month of May have varied from a low of 32,223 in 1995 to a peak of 67,958 in 2004, the average is 47,621. MDA DataQuick's statistics go back to 1988.
2009-06-22: 'Vanilla' home loans could benefit borrowers in Downtown San Diego 92101
If President Barack Obama gets his way, consumers who take out mortgages would automatically get a "plain vanilla" loan such as a traditional 30 year fixed rate mortgage unless they opted for a riskier variety.
2009-06-18: Regional home prices end 2-year skid, report shows
In the latest indication that the gloom in the housing market might be lifting, MDA DataQuick reported yesterday that May prices in Southern California rose for the first time in nearly two years, up $2,000 from April to reach an overall median of $249,000.
2009-06-17: Southern California home prices rise in May 2009
MDA DataQuick reported Wednesday that Southern California's home prices rose from April to May, the first month over month increase in nearly two years.
2009-06-16: Homing in on the High-End
Kelly Bennet, The Voice of San Diego, came across a couple of links in the news about high-end homes in San Diego County: First the U-T's Roger Showley described the situation for several would-be home sellers in La Jolla, Rancho Santa Fe and several other wealthy enclaves. Second, here are some data to show the disparity between the supply of homes on the high end and the low end.
2009-06-15: High-end homeowners now feeling the pinch
The real estate slump has arrived in La Jolla, Rancho Santa Fe and other high-end San Diego County neighborhoods. After holding their own in sales strength, sales of homes priced at $1 million or more started to fall a year after lower-priced homes hit the skids.
2009-06-10: Market condition for San Diego
Reported from Dave Harlan. "Without a sense of urgency desire loses its value." Higher inventories in San Diego offer a wider selection. While buyers wait for the bottom, concerned homeowners put off listing until the turnaround. Both for good reason. So where's the urgency? It's the interest rate.
2009-06-09: A Mid-Year Housing Report Card
Could be better, could be worse, but is now the time to buy? As we reach the halfway point of 2009, Alan N. Nevin thought it might be helpful to take a top-down view of where we are, what actually has happened over the past three years and where the market is going.
2009-06-08: The Trouble Lurking in Subprime's Wake
Two years after poor credit borrowers fell into foreclosure due to skyrocketing mortgage payments, trouble is growing in another category of loans, threatening to exacerbate the local housing crisis. There are more active Alt-A loans than sub prime. Of all of the active mortgages in San Diego County, 7 percent are sub prime, and 14 percent are Alt-A. The other 79 percent are prime, typically more conventional loans.
2009-06-04: Housing called undervalued
Report says San Diego prices are 21% below normal. San Diego County used to be one of the nation's most overpriced real estate markets, as much as 40% above historic norms, according to the IHS Global Insight financial analysis company.
2009-06-03: Tips on Buying and Selling in 2009.
Have questions about your investment in Downtown San Diego? Voice of San Diego joined the media partners at NBC 7/39 to share some of the answers that they got from local real estate attorney and broker Gary Laturno last week in the second installment of the guest-host series, Savvy & Sage: Tips on Buying and Selling in 2009. Here are some of the answers: * Could the bank come after me after I foreclose? * What should I do if my payments are too high? * Can I sue if I find mold? * How should I approach three upside-down short sales? * When I'm buying foreclosures, am I responsible for past-due homeowners association bills?
2009-06-02: Convention Center design includes more space and pedestrian bridge
Architects in Downtown San Diego are working on a new San Diego Convention Center wing and they say it wouldn't just be for tourists but would offer something for locals, such as a rooftop restaurant and a pedestrian bridge with easier access to San Diego Bay.
2009-06-01: Prices Slip Again but Number of For Sale Homes Dwindles for Downtown San Diego Lofts and Condos
According to Standard & Poor's Home Price Index local home prices were down 22 percent from their one year ago levels in March. San Diego County including Downtown San Diego Condos and Lofts year over year decline was ninth deepest among the 20 Metropolitan areas measured.
2009-05-28: Home Refinance and Loan Modification Plan
On March 4, 2009, the Obama Administration released detailed guidelines for homeowners to help them determine if they qualify for the Administration's new Making Home Affordable plan. This is a follow up to the Administration's announcement on February 18 outlining their plan to stem the current tide of foreclosures and stabilize the nation's housing markets including Downtown San Diego.
2009-05-27: San Diego County housing prices still slipping but pace slows
San Diego County housing prices continue to decline but at a slowing rate, the widely watched Standard & Poor's Case-Shiller Home Price Index showed yesterday.
2009-05-26: S&P: Home prices fall by record 19.1 percent in 1Q
Home prices fell at the fastest annual rate ever in the first quarter, but the pace of month to month declines continues to slow including in Downtown San Diego, a closely watched housing index showed Tuesday.
2009-05-25: Go Steady, Not Hold Steady
The San Diego city council will soon decide on whether to enter into an agreement with Gerding Edlen Development for exclusive negotiations on a new Downtown San Diego civic center. Jeff Graham, vice president of redevelopment for CCDC, likens the decision not to a marriage, but to dating; in his words, "to see if a relationship down the road is feasible."
2009-05-20: Home prices dip slightly, possible sign of stabilizing
MDA DataQuick reported yesterday that Southern California including Downtown San Diego housing prices dropped only slightly last month. Prices could be stabilizing.
2009-05-19: Sign of optimism: Home prices rise
Cheif executive Borre Winckel at the San Diego County Building Industry Association, said builders believe the local real estate market has reached the bottom. The median home price in San Diego County rose slightly according to last month, MDA DataQuick report, to $290,000 yesterday.
2009-05-18: 92101 Developer Wars heating up - Buyers cashing in!
The stunning 50 percent plunge in Phoenix's home prices has attracted national attention. By contrast, Downtown San Diego's condo and loft market, which has seen values fall by 55 percent, has suffered in relative silence. 92101 Urban Living's client Pete Cretu took advantage of what Pete Thistle and Mike Ciampa are calling "The Developer Wars" by cashing in on a great deal at Alta. See Pete's story in the SD Reader article.
2009-05-14: California new home buyers' tax credit may get boost
Yesterday, Builders and members of the Legislature proposed to triple the funds set aside in February for a $10,000 new-home-buyer tax credit because more than half the money has already been committed.
2009-05-13: San Diego home prices drop at quick pace
The National Association of Realtors reported Tuesday that San Diego County including Downtown San Diego's home prices dropped 29.6 percent over the last year, twice the national rate.
2009-05-12: Families combine resources to buy homes
Catherine Swanson is getting a foot on the property ladder. Recently, her father made her a deal. He would buy a multi unit property and she would live in one of the apartments and manage the other ones as rentals. Catherine said; he is buying me a job! Combine your family resources and invest in Downtown San Diego.
2009-05-12: Housing Recovery: Not Yet, but When?
In 2010 Real Estate markets including Downtown San Diego will stabilize and then recover according to Standard and Poor's.
2009-05-10: U.S. threatens to rescind stimulus money over wage cuts
The Obama administration threatens to rescind billions in stimulus money if Govenor Schwarzenegger and lawmakers do not restore wage cuts to unionized home healthcare workers.
2009-05-06: Construction of Harbor Drive Pedestrian Bridge Continues
Time lapse video captures Harbor Drive pedestrian bridge taking shape in Downtown San Diego. Vision of the bridge becomes clearer as wooden support structure is put in. The Time lapse video is now posted on Centre City Development Corporation web site (www.ccdc.com) and shows the bridge taking shape.
2009-05-05: Bernanke says recovery is around the corner
Downtown San Diego Real Estate will become stronger. Ben S. Bernake, Federal Reserve Chairman told the Congress the the recession is nearing bottom and that growth should begin by the end of the year.
2009-05-04: Housing Rebound? Not So Fast
Wall Street are excited about the rising home sales figures, but there are a lot of reasons to hold on for now, even in Downtown San Diego.
2009-04-30: Downtown San Diego's Cortez Hill Family Center to Expand Facilities
Transitional housing facility to include three story addition and new structure in Downtown San Diego.
2009-04-29: Housing's Long-Haul Recovery
Despite recent good news, government help will fade, prices will keep falling, and the real estate bear market could go on for years
2009-04-28: Home prices post 18.6 percent annual drop in February
Another sign the housing crises could be bottoming. For the first time in 25 months the decline was not a record after home prices dropped sharply in February.
2009-04-27: Homebuilders: A Report Card
Standard & Poor's doesn't expect demand for new homes to bounce back quickly because of the glut of foreclosed homes in many markets including Downtown San Diego.
2009-04-25: Blue skies are seen for housing market
According to an author of one of the most watched housing indexes, Downtown San Diego and the nations housing market might start to recover this year, but only if alot goes the right way.
2009-04-22: Where Rental Properties Pay Off the Most
Investing in rentals is increasingly affordable. Purchases made now will reap handsome rewards when the economy rebounds. Lower purchase prices and interest rates are making it easier, even for an individual investor to find a single family home, a Downtown San Diego condo, or a small apartment building that brings in more than enough rent to cover mortgage, taxes, insurance, maintenance, and other expenses.
2009-04-21: Pedestrian bridge span put in place downtown
Early Monday morning, crews swung in the last piece of the span for a $26.8 million dollar pedestrian bridge. Downtown San Diego Harbor Drive's view is now forever changed.
2009-04-20: Option ARM Resets Delayed
A new wave of foreclosures in Spring 2009 was warned from real estate forecasters a year ago. Foreclosure or bankruptcy for many Americans including San Diego loft and condo owners may have been putt off by as much as a year. This Spring thousands of mortgage loans won't be changing.
2009-04-16: Home prices still flat as sales rocket 43%
2009-04-15: Get home inspected before marketing
2009-04-14: A Turnaround May Be In Sight
According to an article in the Realty Times "We're past the rock bottom of the down cycle for real estate and now we're moving into recovery mode"
2009-04-13: White power
2009-04-08: County's rental market 'loosening up a little'
2009-04-07: Timeless rite of spring
2009-04-06: Ballpark, as catalyst, is batting .500
2009-04-02: Signs suggest county housing market recovering
2009-03-31: US home price drops set records in Jan.
2009-03-26: New management takes over historic Old Towne Shops
A frequented entertainment, dining and shopping spot for Downtown San Dieagans is under new management, again
2009-03-24: Officials seek new power over financial companies
2009-03-21: Wall Street resumes rally following housing report
2009-03-20: Housing data has glint of stablity
2009-03-19: Gray whale still cruising around San Diego Bay
2009-03-18: Livid Democrats demand AIG return bailout bonuses
2009-03-17: St. Patrick's revelers in US fete all things Irish
2009-02-27: More than 25% of homes in county worth less than mortgage balance
2009-02-26: Some ZIP Codes Immune to Crisis
2009-02-11: Columbia District by Type of Sale
2009-02-11: BoConcept Grand Opening
2009-02-05: Featured Property - #1615 at Smart Corner
2009-02-04: Gaslamp by Type of Sale
2009-02-03: Little Italy by Type of Sale
2009-02-03: Featured Listing at Smart Corner
Check out this featured listing for a gorgeous condo at Smart Corner in the East Village
2009-01-30: Marina District by Type of Sale
2009-01-29: East Village Neighborhood by Type of Sale
2009-01-28: 2008 Sale Activity by Month
2009-01-27: 2008 - Types of Downtown Sales
A quick glimpse of the types of sales in all Downtown San Diego neighborhoods by type.
2009-01-23: Happy Hour at The Glass Door
Enjoy Happy Hour everyday at the Glass Door in Little Italy atop the Porto Vista Hotel.
2009-01-22: 2008 Breakdown of 92101 Neighborhoods by Sale Type
A charted graph of Resales, Developer Sales, REO's and Foreclosure sales in 92101 Neighborhoods.
2009-01-21: A Drop in Home Prices Nearly 35%
2009-01-20: Let the Inauguration Celebration Begin
2009-01-15: Health and Well-Being in 2009. Get Involved!
Club Motivate has teamed up with an amazing group by the name of Rock Cancer C.A.R.E. for a 2009 Health and Well-Being fundraising event.
2009-01-15: BoConcept: Tips for Downtown San Diego Urban Design
2009-01-06: Downtown San Diego Central Library Events
2008-12-19: Balboa Park panel issues report
2008-12-17: Protecting and Increasing Species Diversity in the San Diego Bay
In an effort to revitalize the waters surrounding our city, 350 artificial reef structures have begun to be installed off the shoreline of Bayside Park in Chula Vista.
2008-12-16: A Glimpse at San Diego's Rental Market
2008-12-12: The F Plan at Electra - Check it out!
Check out this insider information if youre interested in the highly sought after F Plan.
2008-12-10: Some No-Nonsense Truth About Vantage Pointe
The harsh realities of the current state of this 679-unit development, Vantage Pointe.
2008-12-03: San Diego Bay Parade of Lights
Sunday, December 14th kicks off the beginning of the San Diego Bay Parade of Lights
2008-12-01: Balboa Park December Nights 2008
Friday, December 5 kicks off the holiday season at Balboa Parks December Nights Festival.
2008-11-24: Urban Design Exhibit
Nine leading San Diego architects that are redefining housing design, development and urbanization in the region will feature work at the Museum of Contemporary Art.
2008-11-21: SPRING BRINGS ACE HARDWARE TO DOWNTOWN SAN DIEGO
Sterling Hardware Group, a San Diego based independent Ace Hardware retailer, will open an Ace Hardware store in downtown San Diego next spring at The Lofts at 655 Sixth Avenue.
2008-11-20: 944 Magazine and the UnScene Photography Tour
2008-11-17: Foreclosure Rate Watch: October Foreclosures Drop Dramatically
2008-11-14: It may not be in vogue to be optimistic about the future of Downtown San Diegos housing market. But I am. -Doug Wilson, Founder and CEO of Douglas Wilson Cos.
Given the current state of the economic and real estate industries its easy for us as buyers, sellers, brokers, developers and the like to adopt an increasingly negative outlook. Doug Wilson, the founder and CEO of Doug Wilson Construction, however, does not wish to participate.
2008-11-07: CCDC News Digest (10-22-08) Board Meeting Summary
The CCDC 10/22/08 Board Meeting is summarized relating to decisions made about the Navy Broadway Complex (the NBC).
2008-11-06: San Diegos Harbor Drive Pedestrian Bridge Breaks Ground
Downtown San Diego adds more to its already impressive infrastructure with the Harbor Drive Pedestrian Bridge. Ground breaking took place on Thursday, October 23.
2008-11-05: Home Price Index Still Tumbling in San Diego
In the October 28th edition of SignOnSanDiego.com, Staff Writer Roger Showley illustrates the recent drop in the home price index in San Diego County.
2008-10-24: Bigger and Better Homes
The San Diego Metropolitan featured an article pertaining to Dennis Sarraglio's (BOSA Development) analysis of the current state of the Downtown San Diego Real Estate resale market.
2008-10-24: Saving the 10th Avenue Marine Terminal
The 10th Avenue Terminal Deck continues to be a heated sourced of debate as it pertains to development of Downtown San Diego Real Estate infrastructure. The following article references the side of the debate in favor of protecting the Port of San Diego and its employees.
2008-09-08: 'Green' developer has lower-cost proposal to rebuild City Hall
Last week, the new renderings of a "proposed" construction of a new Downtown San Diego City Hall were presented by the CCDC. The potential for "green construction" would make it the first of it's kind for City Halls in the United States, and eventually save the city money in administration office leases that would be consolidated. For more renderings and information be sure to check out or blog entitled "A New City Hall".
2008-08-23: Urban Trees 5 Unveiled
As part of the Port of San Diego's Public Arts program, the 5th exhibit of Urban Trees was introduced to the North Embarcadero...from The Cruise Ship Terminal all the way to Hawthorne Blvd.
2008-08-23: Tall Ships Arrive for Festival of Sail 2008
This yearly festival along the North Embarcadero features historic ships from a time now long lost. What a great experience to walk along the Waterfront and tour some fantastic ships.
2008-08-23: San Diego's own SOHO
92101 rban Living was able to contribute to this article featured in the Real Estate Section of the LA Times. See how the East Village Neighborhood has developed into a nationally recognized Urban area.
2008-08-14: Developers: Terminal deck could solve woes
A $2 Billion Dollar proposal to develop the 96 Acre parcel just Souteast of the San Diego Convention Center. The possibilities for the development of the project could include a Chargers football stadium, sports arena, the expansion of the San Diego Convention Center, a luxury hotel or a combination of all of the above. All of this in Downtown San Diego?
2008-07-26: Renters Go Downtown To Save On Gas, Commuting
Renters would rather pay a higher rent to live closer to work and mass transit than pay extra money for gas and a longer commute. This is a trend seen not only in Downtown San Diego, but all over the United States.
2008-07-24: Crime Rate in San Diego Continues to Drop
San Diego is one of the safest and cleanest Big Cities in the Nation. The article notes lower city crime statistics due to a larger number of officers on the street.
2008-07-22: SoCal Home Price Drops From A Year Ago
Still a "buyers" market out there! Median prices are down...meaning it is not a good time to be a seller. The amount of Jumbo loans taken out in June of 2008 has also decreased. This means that lower priced homes are selling, and buyers are putting more money down to qualify.
2008-07-19: The Million-Dollar Lifestyle
Ever wonder what a million dollars can buy you in Downtown San Diego? This article outlines some of the options available including Harbor Club, Renaissance, Smart Corner, Bayside and Park Place.
2008-06-27: Gas Prices: The Tipping Point Toward Better Development? ULIs Nationwide Survey Explores Consumer Attitudes
As gas prices rise, urban areas all over the United States will look to increase urban center development and public transportation. Gas prices, and the effect that they have on a households monthly cash flow, are causing many to incorporate changes to where and how they live in relation to work, play, and transportation.
2008-06-24: 6 Real Estate Bargins
In this national buyers market, there are several regional areas to find the best deals. San Diego is mentioned as one of the 6 best areas. Almost 85% of all foreclosures and distressed properties in San Diego are found in 20 Inland sub-communities. It is interesting to note that some of the best deals in Downtown San Diego are on the luxury level over $1MM. In this price category values have not decreased, but kept from increasing to overvalued levels.
2008-06-18: Property-flipping Rule Suspended
The White House temporarily suspended a rule that imposed a 90-day waiting period before foreclosed homes could be sold to receive government loans.
2008-06-18: Is America's suburban dream collapsing into a nightmare?
For years since World War II, suburban communities all over the country have seen overwhelming growth and development. Long commutes and a desire to be close to work, live, and play have encouraged many Americans to rethink the value of revitalized Urban Centers. What happens to the suburban neighborhoods as affluent young professionals and downsizing "baby-boomers" decide that Urban Living is more desirable? Read about the potential transition of the traditional suburban "American Dream".
2008-06-13: MTS Trolley makes Fare Change
Public transportation is so important to any urbanite. Changes in costs are always a noteowrthy item for obvious reasons. San Diego MTS has scrapped the zone fare system to charge a flat fee of $2.50. ALso increased are the bus and rail fares. Increasing fuel costs have spurned this on.
2008-06-05: What Housing Recession?
All property is not considered equal in San Diego County. Two thirds of all distressed property in the county can be found in only 20 of over 90 sub-markets. These markets have an average home value of $334k. In communities that have good location (like being near the beach) had negligible foreclosures. In 20 San Diego sub communities where home prices averaged $1 million or more, NO foreclosures were recorded. Read more of this Metropolitan article by numbers guru Alan Nevin to see how important Location is to overall Real Estate values In San Diego.
2008-06-04: The Most Expensive Real Estate Markets in the World
Ever wonder where the most expensive place to live would be? The following article lists the ten most epxpensive places in the world by "price per sq ft". San Diego isn't even mentioned, or even close for that matter ($512 sq/ft). Manhattan is number 6 if that provides any indication.
2008-06-03: Urban Living Is Kinder to the Planet Than the Suburban Lifestyle
Is it possible to limit Global warming just by living in Downtown San Diego? This Wired article suggests that Living in Cities is more environmentally friendly than that of suburban counterparts. Could it be...is Manhattan the greenest city in the country? Access to public transportation, as well as efficient heating and cooling systems of urban high-rises are citied as the main factors.
2008-05-30: Declining Market Tag May Threaten Recovery
Syndicated real estate columnist Kenneth R. Harney from the Washington Post Writers Group reported that on May 16th, Freddie Mac and Freddie Mae lifted the impact of their declining markets policy guidelines. Previously, these guidelines required borrowers who were purchasing a property in a declining markets area (of which 92101 was included along with many regions of the country) to contribute an additional 5% down vs. those buying in non-declining market areas. Declining market designations have been in place since December 2007. Although private mortgage insurance (PMI) companies have not followed suit yet, this change adopted by Fannie and Freddie represents a positive step in the right direction for home lending. This syndicated column was published in the San Diego Union Tribune on May 25th, 2008.
2008-05-29: Analysts: Many won't return when it's over
The building industry of new Residential Homes has experienced a drastic change as a result of the national housing issues. Here in San Diego, residential developers and builders have had the slowest year since the 1950s. Even when home sales and the real estate market improve, many builders and developers will move from suburban areas to focus on Urban Landfill. A shortage of zoned approved land is cited as one of the main contributors. As a result, dense urban areas like Downtown San Diego will see an increase in value and attention from Developers such as DR Horton and K Hovnanian.
2008-05-28: The Housing Crisis is Over?
This article from the Wall Street Journal suggests that April 2008 represented the bottom of the Housing Market Decline. Author Cyril Moulle-Berteaux suggests that affordability will be the main contributing factor toward the shift in home prices and sales. During the Housing Boom that peeked in 2005, a monthly mortgage could absorb as much as 37% of a households monthly income. In areas where real estate values have decrease by 10% to 20%, the average homebuyer would only need 19% of monthly income contributed toward housing. The author cites the Big Three: National Supply Inventories, Local Market Conditions, and Construction Activity as indications that a turnaround in the National Housing Market has already begun.
2008-05-17: 10 markets set for steep losses
2008-05-17: Rates on 30-year mortgages edge down slightly
'Rates on 30-year mortgages edged down slightly this week, but remained above 6 percent for the third straight week. Mortgage giant Freddie Mac reported Thursday that 30-year fixed-rate mortgages averaged 6.05 percent this week, compared to 6.06 percent last week. It marked the third week that 30-year rates have been above 6 percent...'
2008-05-06: Neighborhood of E-ville
The East Village is downtown's up-and-coming neighborhood with a ll sorts of great restaurants and businesses popping up. This article from the Reader give a great overview of what's going on in what the writer calls "E-Ville"
2008-04-03: Set in concrete
Fire-resistant homes stand as sentinels in a blackened landscape. There's a home-building technology used widely elsewhere in the United States that saves money on energy, stands up to natural disasters such as earthquakes, tornadoes and hurricanes and resists termite infestation. And now that technology concrete home construction can claim new supporters for another attribute, a dramatic ability to survive wildfires.
2008-04-03: Mortgage rates fall
'Borrowers looking for fixed-rate mortgages can now find the lowest rates in more than a month. But experts warn the decline may not last for long. Rates on fixed-rate mortgages dropped sharply in the past week, after the Federal Reserve took several historic steps to shore up the financial markets. The rate on a 30-year loan dropped to an average of 5.87%, down from 6.13% a week ago, according to new Freddie Mac figures released Thursday. A 15-year mortgage now can be had for 5.27%, down from 5.60%'
2008-04-03: Democrats seek quick strike vs. foreclosure
'Leading Democrats in the Senate said Monday they would try to force a vote this week on legislation designed to help troubled mortgage-holders stay in their homes. Democrats will try to win Senate consideration for their Foreclosure Prevention Act, which aims to help families avoid foreclosure and aid the recovery of communities already harmed by the crisis. Republicans blocked an earlier attempt to debate the bill last month.'
2008-03-29: Time to hunt for a vacation home
At the risk of tipping my hand (real estate agents, stop reading now), I'm thinking of buying a second home. Like most of you, I own my primary residence, have no intention of moving soon and am locked into a fixed mortgage at a decent rate.
2008-03-29: How to find a contractor you'll love
One upside to the popped real estate bubble is that hiring contractors has suddenly become a lot easier. A couple of years ago, it seemed like you had to be an A-list celebrity or a hedge fund tycoon to get one to so much as call you back. But with homeowners increasingly hesitant to plow big bucks into home improvement, even the best contractors might pick up your call before the second ring.
2008-03-29: Mortgage rates mixed
Mortgage rates were mixed this week as the index of leading indicators fell for the fifth straight month, home prices continued their decline and consumer confidence reached a 5-year low, Freddie Mac reported Thursday.
2008-03-20: City called on to suspend tax breaks
2008-03-14: Top Tips: Selling your home
'CNN's Gerri Willis offers tips on how to make your home more attractive to potential buyers...'
2008-03-14: Mortgage application fees may rise on appraisal reform
'It's going to cost some borrowers even more to get a mortgage beginning in 2009. In a recent agreement with New York State Attorney General Andrew Cuomo, Fannie Mae (FNM) and Freddie Mac (FRE, Fortune 500) pledged that they will only buy mortgages from lenders that use independent appraisers. Since these two companies account for more than 70% of all mortgage loans, virtually all lenders will comply with the guidelines....'
2008-03-08: Mortgage applications up slightly
'Mortgage application volume increased 3% for the week ending Feb. 29, according to a weekly application survey by the Mortgage Bankers Association. The trade group's application index increased to 684.9 from 665.1 the previous week. Refinance volume increased 4.5% during the week, while purchase volume grew 1.4%. Refinance applications accounted for 52.4% of all mortgage applications during the week ending Feb. 29....'
2008-03-08: High-cost mortgages just got cheaper
'Mortgage costs just got cheaper for buyers in high-cost areas. The size of loans that can be guaranteed by Freddie Mac and Fannie Mae was raised today by the Office of Federal Housing Enterprise Oversight. The new, higher loan limits will stay in effect through the end of the year, allowing the government sponsored enterprises (GSEs), to buy much higher-priced mortgages in some areas of the country...'
2008-03-06: Units for homeless are raising concerns
'Build a low-income apartment project to help families fine, said people in the Cortez Hill neighborhood where it was proposed, but when the city decided to include 23 units of supportive housing one-bedroom apartments for recently homeless people with mental disorders neighbors no longer thought it was fine...'
2008-02-29: Mortgage woes force Thornburg to pay $300M
'Thornburg Mortgage Inc., a mortgage lender, said Thursday it has been the subject of margin calls on a portfolio of securities backed by alt-A mortgages...'
2008-02-29: Home price plunge accelerates
'The decline in residential real estate accelerated though the end of 2007, and home prices in 20 key markets plunged 9.1% for the year, according to a survey released Tuesday...'
2008-02-29: Insuring your home against disaster
'If last fall's devastating California wildfires weren't enough of a wake-up call, consider this: Nearly 60% of homes nationwide don't carry enough insurance coverage to be fully rebuilt. On average those homes are underinsured by 21%. To give yourself a chance of being made whole, follow these steps before and after disaster strikes...'
2008-02-22: Jumbo mortgages: The best deals
'For many house hunters, these are good times. Home prices have fallen 10% or more in once-hot markets, and interest rates on mortgages of $417,000 or less have sunk to their lowest levels in four years. Today a family with solid credit and enough cash for a 20% down payment can lock in a rate of only 5.9% on a 30-year mortgage, according to Bankrate...'
2008-02-22: Buying a Home: Top things to know
CNN Money posted top ten things to remeber when buying a home...some helpful hints and always a good thing to review!
2008-02-22: California January 2008 Home Sales
2008-02-19: Group says more Californians can afford to buy their first home
'A trade group for real estate agents says the percentage of Californians who can afford to buy their first home increased in the last three months of 2007 compared to the same time a year earlier. The California Association of Realtors said Tuesday that 33 percent of the households in the state earned enough money to afford to finance an entry-level home in the fourth quarter, up from 25 percent in the same three months of 2006...'
2008-02-15: Mayor outlines vision for city in annual address
'With nearly the entire City Council, the city attorney and other local and international leaders flanking him, Mayor Jerry Sanders stood on the stage of the newly renovated Balboa Theatre in downtown and offered a vision of accountability, cooperation and restoration of San Diegos reputation as Americas Finest City...'
2008-02-15: A whale of a tale on tour
'Every year as the Eastern Pacific gray whale migrates from the Bering Sea to lagoons in Baja California, people from all over the world travel to San Diego to witness the event during what is known as whale-watching season a window that extends from late December through early April...'
2008-02-15: Beating foreclosure: Who to call
'Homeowners in trouble have to wade through many options to see whether they qualify for any assistance from their lender....'
2008-02-15: 7 ways to fight property taxes
'Assessments are expanding, but prices are contracting. Ready to hit back? Here's how....'
2008-02-15: Ode To The Apartment Market: In good and bad times, a solid investment in San Diego
Alan N. Nevin explains why owning an apartment/condo is a good idea in San Diego...a good investment? Informative and well thought out article...
2008-02-14: Eye-catching span may get 2nd look
'When a pedestrian bridge between Petco Park and the Convention Center was envisioned four years ago, officials agreed to make it look grand, an iconic entryway into downtown. Now that the original $12.8 million price tag has grown to as high as $30 million, they may rethink that...'
2008-02-05: Top things to know when Buying a Home
CNN Money's helpful checklist of things to do when buying a home...great information!
2008-02-05: Home price drop is biggest ever
Home prices were down 8.4 percent in November compared with last year in its 10-city index, a record low. The 20-city index also fell 7.7 percent.
2008-02-05: Home ownership in record plunge
'The housing and mortgage meltdown caused the biggest one-year drop in the rate of homeownership on record, according to government figures released Tuesday. The decline, while expected, is yet another indication of the housing market's sudden and dramatic turn....'
2008-02-05: Most middle class still can't buy a house
'Prices have fallen but not by enough to make it possible for nurses, fireman or teachers to buy homes of their own says a new report....'
2008-02-05: Foreclosures: 100 worst hit zip codes
'Seven of the top 100 worst hit zip codes last December were in the gaming capital, according to statistics compiled for CNNMoney.com by RealtyTrac, which markets foreclosed properties online...'
2008-01-31: Economic activity ticks down in December
'Key index falls by 0.2 percent in December - third straight month of declines - after tumbles in previous months.'
2008-01-31: Refinancings fuel mortgage application surge
'Mortgage application volume rose 7.5% during the week ended Jan. 25, according to the trade group Mortgage Bankers Association's weekly application survey. The MBA's application index rose to 1,054.9 from 981.5 the previous...'
2008-01-31: Economy much weaker than expected
'Economic growth nearly ground to a halt in the last three months of 2007, according to a government report released Wednesday that showed the sharpest decline in growth since 2003. The report raised fears of a recession and increased hopes that the Federal Reserve will make another significant interest rate cut today...'
2008-01-31: Rates on 30-year mortgages rise after 4 straight weekly declines
'Rates on 30-year mortgages rose for the first time this year after four straight weekly declines. Economists attributed the slight increase to the rebound in rates that occurred on Treasury bond markets. Rates on 30-year mortgages are heavily influenced by the direction taken by 10-year Treasury bonds...'
2008-01-29: Despite downturn, study shows many still can't afford homes
A pretty slanted article, however it does provide some helpful tips and statistics... 'Despite a real estate downturn that has made housing in San Diego County more affordable, a new nationwide study shows that the county's median priced home of $440,000 remains out of reach for most workers here....'
2008-01-29: California Foreclosure Activity Still Rising
Data Quicks latest report...good statistical information to see the real state of the market rather than opinions...'The number of mortgage default notices filed against California homeowners jumped last quarter to its highest level in more than fifteen years, a real estate information service reported....'
2008-01-24: Existing Single-Family Home Sales Drop
2008-01-24: Fed cuts interest rates by 75 bps
'The Federal Reserve unexpectedly slashed a key interest rate by a bold three-fourths of a percentage point on Tuesday, responding to a global plunge in stock markets that heightened concerns about a recession. The Fed signaled that further rate cuts were likely...'
2008-01-18: Timing the housing market
2008-01-18: California December 2007 Home Sales
Data Quick News latest report...great info for analyzing the state of the market yourself...
2008-01-09: Waterfront projects gain panel backing
'The Broadway Pier cruise ship terminal and the Lane Field development two key components of the city's ongoing waterfront makeover won crucial support from the San Diego Port Commission yesterday...'
2008-01-02: Southland prices fall again; sales perk up
'Southern California home sales bucked the seasonal norm in November and rose slightly over October, thanks to bargain shopping and an uptick in new-home sales...'
2008-01-02: California November 2007 Home Sales
'A total of 25,578 new and resale houses and condos were sold statewide last month. That's down 0.98 percent from 25,832 for October, and down 38.8 percent from 41,809 in November 2006....'
2007-12-21: County unemployment at 4.8% in November
'The unemployment rate in San Diego County was 4.8 percent in November, unchanged from the previous month, but above the year-ago estimate of 4 percent, the California Employment Development Department reported Friday...'
2007-12-21: County foreclosure activity down sharply in November
'The pace of foreclosure activity in San Diego County slowed markedly in November, but analysts say it's too soon to predict an end to the surge in defaults that has characterized 2007....'
2007-12-21: Pension board adopts plan to comply with tax law
'The governing board of the city of San Diego's pension system on Friday unanimously adopted a 14-point plan negotiated with the Internal Revenue Service to bring its programs and practices in compliance with federal tax law....'
2007-12-18: Speed, luxury at SD boat show
2007-12-05: California October 2007 Home Sales
2007-11-30: City to examine funding for opening fire stations
'San Diego will study the costs of adding fire stations and firefighters, following Sen. Dianne Feinstein's sharp criticism of the city this week.'
2007-11-30: Homeowners express concerns over insurance
'Victims of the recent wildfires told the state's top insurance regulator last night that a familiar problem is surfacing in the wake of the mid-October blazes that destroyed more than 1,700 homes in San Diego County.'
2007-11-27: Mayor Sanders in Sacramento to Lobby for Funds
'Mayor Jerry Sanders is expected to be in Sacramento Tuesday to lobby on behalf of San Diego for its share of $2 billion in funds for projects to improve the movement of goods around the state...'
2007-11-27: S&P says 3rd-quarter housing prices dropped by sharpest rate in index's 21-year history
'U.S. home prices fell 4.5 percent in the third quarter from a year earlier, the sharpest drop since Standard & Poor's began its nationwide housing index in 1987 and another sign that the housing slump is far from over, the research group said Tuesday...'
2007-11-15: County urges fire victims to use $30 million cleanup fund
'County officials are urging property owners who need assistance in removing fire debris to take advantage of a $30 million fire cleanup program by submitting necessary documents to the county. '
2007-11-15: Fire-protection fee on rural property recommended
'Staring at an empty emergency firefighting account, lawmakers are being urged to revive a controversial fee on rural property protected by the state, including broad swaths of San Diego County.'
2007-11-08: Interior Designer Puts Contemporary Imprint on Downtown Projects
'Award-winning interior designer Jules Wilson is changing the face of downtown San Diego residential interiors one hot project at a time.'
2007-11-08: Record California Foreclosure Activity
DataQuick, a subsidiary of Vancouver-based MacDonald Dettwiler and Associates, monitors real estate activity nationwide and provides information to consumers, educational institutions, public agencies, lending institutions, title companies and industry analysts.
2007-11-08: Home Owners Can Apply Directly to Assessor's Office for Reassessment
'Property owners who suffered more than $10,000 damage during last month's wildfires can apply directly to the county Assessor's Office for a reassessment of their property value...'
2007-11-07: Council approves density ordinance
Home builders will be allowed to boost the number of units permitted in their projects and seek other land-use incentives as long as they agree to include affordable housing in their developments, the San Diego City Council decided yesterday.
2007-11-07: Record California Foreclosure Activity
2007-11-02: Coordinated cleanup plan taking shape
Officials for the city and county of San Diego announced a plan to clean up fire debris.
2007-11-01: Homeless Shelter To Be Placed Near Petco Park
Due to the large amount of complaints by East Village resident's, the CCDC and some Downtown representatives, the winter homeless tent is being moved near Petco Park...
2007-11-01: Unpaid dues
Homeowners associations countywide are hit by foreclosure fallout and feeling the pinch of ...
2007-10-24: Regardless of ZIP code, we're all in this together
The fires grow in size and numbers, and so does the number of people volunteering their time, money, and supplies to help those in need. San Diegan's have come together in this time of need to help their friends, family and neighbors....
2007-10-19: Winter Shelter
It has been decided that a homeless shelter is to be erceted in the center of the East Village during the winter months. A large tent that will serve about 200 homless daily is controversially with residents of the newly developed East Village.
2007-10-17: September Southland home sales lowest in more than 20 years
2007-10-17: 'Housing decline is still unfolding'
Treasury Secretary Henry M. Paulson Jr. comments on the recent state of the housing market
2007-10-17: Housing slump persists
"Home sales throughout Southern California plunged last month to their lowest levels in more than a decade, with prices falling in most areas as well, DataQuick Information Systems reported yesterday. But there was a big asterisk attached to the monthly data. The report showed a lingering impact of the summer credit crunch through a scaling back by lenders in financing jumbo loans used by nearly 50 percent of all buyers in the region. Jumbo loans are $417,000 and up."....
2007-09-13: Sluggish Incomes Add To Housing Slump
2007-09-13: More Bad News Seen For Home Sale Prices: Modest Rebound In 2008?
"An industry trade group said Tuesday that sales of previously-owned homes are expected to drop 8.6 percent this year in the wake of tighter credit for home mortgages. The National Association of Realtors is also hoping for sales to post a modest rebound in 2008."
2007-09-13: Housing decline continues
San Diego County housing prices continued their decline in August as home sales dropped to a 15-year low. San Diego isn't as bad off as other counties in Southern California.
2007-09-13: Foreclosures reach record high in S.D.
'San Diego's distressed-property market grew substantially larger last month as mortgage defaults topped the 2,000 mark for the first time and foreclosures hit a record that was more than six times what they were a year ago.'
2007-09-12: Countywide median house price drops $20,000 in a year
The price of a home in San Diego County dropped to a median $475,000 last month, down $20,000 from a year ago and $14,000 from July! With 19.4% fewer sales than a year ago as well, still isn't as severe of a decline as others in Southern California.
2007-09-06: California Foreclosure Activity Continues to Rise
2007-09-06: Southland home sales slowest since 1995
"Southern California home sales remained at their lowest level since the mid 1990s..."
2007-09-06: Subprime mortgage woes push new foreclosures to a record high
2007-09-04: Bush Pledges Help from the FHA for Delinquent Subprime Borrowers
The Bush administration's new assistance plan for the mortgage market could help tens of thousands of subprime borrowers facing unaffordable payment increases or heavy federal taxes after loan modification workouts or short sales. Read more about what this entails.
2007-09-04: Home Insurance: What Does "Insured" Mean To Me & My Property?
2007-09-04: Federal Reserve, other banking agencies, urge loan companies to help prevent mortgage defaults
"The Federal Reserve and other banking regulators issued special guidance Tuesday urging loan service companies to work with borrowers in danger of defaulting on their home mortgages. The new guidelines are not mandatory, but the regulators expressed the hope that companies that collect payments on mortgages would heed the advice..."
2007-08-31: Citywide recycling measures proposed
San Diego up-ing recycling measures to keep up with proposed State increase of a 50% recycling standard. What can San Diego residents expect?
2007-08-31: Bush outlines aid for mortgage holders
In an effort to address rising foreclosures fueled by the mortgage crisis, President Bush outlined some ways in which struggling borrowers can keep theie homes. President Bush's intention is not to bail out lenders, but to provide more flexibility from their lenders or government. Read On...
2007-08-28: California July 2007 Home Sales
Intersting data on California's home sales July, 2007. What is up and what is on the decline from last month? Read more...
2007-08-28: Approving San Diego's new general plan just first of many battles ahead
Some 28 years since its last update, the city of San Diego's new general plan, that provides a structure for the next 20 years, is scheduled to be presented before the San Diego City Council sometime in October. Read more about the future plans and issues being faced.
2007-08-28: CCDC keeping the ball rolling on more parks for a growing downtown San Diego population
Downtown San Diego continues to grow, with about 28,000 downtown residents, Parks are needed. There are numerous dog owners, young urban families, and plenty of city-living-folks that would appreciate more parks downtown! See what is being planned.
2007-08-22: Foreclosure's other shoe: a big tax bill
2007-08-22: Condo growth slowing down
Downtown San Diego condo growth is hitting the brakes. Construction costs and stricter lending rules are being pointed to as the reasoning; some projects have been sold, others are redesigned.
2007-08-22: Fed cuts discount rate by 1 half-percentage point
"The Federal Reserve approved a half-percentage point cut in its discount rate on loans to banks Friday, a dramatic move designed to stabilize financial markets roiled by a widening credit crisis. The decision means that the discount rate, the interest rate that the Fed charges to make direct loans to banks, will be lowered to 5.75 percent, down from 6.25 percent."
2007-08-22: Trade group seeks break for state's home buyers
'As the nationwide credit crunch continued to shake Wall Street and the lending industry yesterday, the California The Association of Mortgage Brokers urged Congress to give a financial break to the state's home buyers. Leaders of the trade group asked federal lawmakers to declare California a high-cost state and raise the limit on the size of loans that can be purchased or guaranteed by Fannie Mae and Freddie Mac.'
2007-07-31: Ballpark Village developers propose huge hotel to replace housing
The developers of the 3.2 million-square-foot Ballpark Village have changed their plans, proposing instead a 1,650-rooom hotel, the biggest in San Diego County, instead of building more than 1,200 housing units. Other portions of the plan may still be subject to change, but currently call for 300,000 square feet of office space, and 115,000 square feet of retail along with the other components.
2007-07-31: Agency board OKs plan for waterfront makeover
'San Diego officials gave a green light to developer Douglas Manchester's massive waterfront makeover plan yesterday, despite objections from the public that the project caters to the wealthy and sits on an earthquake fault.'
2007-07-31: Local Real Estate: Decline in Sales, Increase in Foreclosures
Local KPBS radio correspondent Tom Fudge speaks about being a homeowner in San Diego, and becoming one. What does this mean? Does the forecast predict that Homeowners will gain or suffer loss?
2007-07-31: Roundtable: While U.S. outlook gloomy, San Diego will fare better
The U.S. economy seems to be looking towards some darker times over the next few years, but according to local economists, San Diego should fare comparatively well. San Diego does has a diverse economy, and luring natural advantages that draw tourism. These advantages could give the city some protection from national economic problems in the future.
2007-07-31: Housing prices in county hold their ground
This is an interesteing article on San Diego's housing Market. Currently, despite concerns over a the number of foreclosures and a continued decline in sales, San Diego County's housing prices still ended the first half of the year on surprisingly stable ground. It is important to educate oneself as a seller or buyer, especially in this market today. Read what some experts have to say about buying and selling in San Diego in this cuurent forecast.
2007-07-11: Port, county gets means for improvements
2007-07-11: New cruise ship terminal enters final permitting stages
Read about the latest progressions with the new cruise ship terminal and how it is affecting the downtown landscape and residents.
2007-07-11: Central Library asks: whats your story?
San Diego's Central Library is no longer just a quiet sanctuary to check out books, read and study...they have now entered the new age. At a hands-on kiosk, library visitors can record their own music, photos, videos and speech into three- to five-minute DVDs as part of the San Diego media arts centers ongoing story-telling project.
2007-07-11: U.S. Grants renovation uncovers layers
Treasures found during the U.S. Grant's renovation that reveals even more history of our beloved San Diego!
2007-07-11: Airport Authority pulls U-turn in plans
One of downtown San DIego's biggest landmarks is our airport, right in heart of the city. It's one of the most beautiful landing paths and brings character to the hustle and bustle of this waterfront city. Following voters rejection of Proposition B in last Novembers election, the citys airport authority board has changed its tune. Read about new plans for Lidenburg airport and how this will affect San Diego residents.
2007-07-11: History Not As We Know It
San Diego is rich with historical places and events...Wyatt Earp and the Gaslamp District. Many do not know the history of the buildings downtown. With all the stunning new high rises being erected, the city appears brand new, but infact there are hundreds of historicallt preserved sites. What does it take to have this historical recognition and what does this mean for residents and buyers...read on!
2007-07-11: High-End Housings Role In Building Centre City Commerce
There is an enormous expansion in the supply of higher-end homes in the downtown San Diego area. Will this play a role over the next decade in convincing business owners and executives that Downtown is a place to move or expand their companies? Read what the experts think...
2007-07-10: Working Waterfronts Heart Keeps San Diego Economy Pumping
San Diego's port houses hotels, parks, pleasure-boat marinas, traditional industry, and so much more. San Diego's Port truly supports this beautiful city!
2007-07-10: Hypocritical Bailout
This article + links helps piece together some of the reasons why the current foreclosure problem is so complex...read on!
2007-07-10: Agency named renters' advocate
If you are a renter in San Diego, or plan to be, read this article! There is a new agency whose purpose is to deal with complaints of housing discrimination and to help you resolve any conflict you may have with your landlord. And the help is free.
2007-07-10: Carrier Johnson Joins Team to Design $300M Mixed-Use Project with Multi-family Component
The San Diego skyline is getting a face lift. There have been numerous progressions over the past couple of years that is making this intimate urban city a place that you will never need to leave. 'Carrier Johnson, a sustainable design company, has recently announced that it has been selected to be part of a team comprised of the Centre City Development Corporation (CCDC) and the City of San Diego Redevelopment Agency that will negotiate the proposed development of a major mixed-use project at Seventh Avenue and Market Street in downtown San Diego.' It will consist of market-rate and affordable housing as well as hotel and retail components. In addition, the developers plan to build a 650-car public parking garage. This will benefit all downtown San Diego residents as well as visitors.
2007-07-10: San Diego: Between Innings
The bottom line is that this is a great time to be a buyer in the East Village. There are so many opportunities for buyers, developers are forced to compete and give huge incentives. These deals represent some of the best Downtown has to offer. It is interesting to note that the author decided to use Park Terrace as the example, as it has the least amount of sales. They are priced high, and do not have a very accessible sales office from the street. The sales numbers in surrounding competition like ICON, Alta, The Mark, The Ledged, and Nexus are all either sold out or within 90% sold. The author also notes the potential for the long term in the East Village. This is a huge point, because property values will continue to rise as inventory is absorbed and infrastructure continues to develop with new restaurants, clubs, shopping boutiques, coffee shops, sports club, and entertainment venues.
2007-06-19: Downtown San Diego Condo Prices Jump 4% in April 2007
Data just in for the month of April shows that in the downtown neighborhoods condo prices rose 3.9% per square foot over March 2007...read more...
2007-06-14: Nightclub gives glitz, glamour and a whole lot of Sting
One thing about living in Downtown San Diego, is that there is always something to do. Go watch the game and grab one of San Diego's best burgers at Nicky Rottens, go see the Padres at beautiful Petco Park, and at night check out some of the night clubs. This article is about one of downtown San Diego's most popular and 'swanky' clubs, the Stingeree.
2007-06-14: City takes baby steps toward massive
The joint-powers authority overseeing the overhaul of San Diegos waterfront met to discuss a timeline for making the North Embarcadero Visionary Plan a reality. Read more about the progressions made and the timeline being set for this $228 million makeover of Harbor Drive and the bay front walkways between Laurel and Market streets.
2007-06-14: Urban Land Institute Honors Smart Growth Projects And Plans
Read more about San Diego's 'Smart Growth Projects' and plans that were recognized by the Urban Land Institute, an international real estate research and education organization...
2007-06-07: Parents, museum push for park
San Diego's downtown attracts a lot of young families attracted to the urban lifestyle. In this article check out the efforts being made to bring to life a childrens museum and 1 acre childrens park.
2007-06-07: Home Sales Reaching 1992 Recession Levels
Foreclosures in San Diego County are up 600 percent this year...so is it a buyers market? Read more in this article about the progressions and declines in San Diego's real estate market.
2007-06-07: Living la Vida Luxury, Downtown-Style
Downtown San Diego has a wide variety of things to offer. Great resturants, shops and nightlife, Petco Park, and exciting urban living. Check out what it's like to live in downtown San Diego and how far your money will go in this exciting city!
2007-05-31: 1Q new-home sales in San Diego higher than 2006 first period, prices also up
2007-05-31: Joint powers set timeline for selecting North Embarcadero design team
'After 10 years of planning, the Port of San Diego, the Centre City Development Corp. and the city of San Diego have set a timeline for the redevelopment of the North Embarcadero.' Those who live in this area, or plan to relocate in San Diego's highly sought after Marina District, this will raise property value! Read more about the plans and dates for this new edition to San Diego.
2007-05-21: Irvine planning 'elegant' tower
Another new edition to the San Diego skyline! The Irvine Co. debuted what it calls a dignified rather than flashy design yesterday for its planned 34-story office tower in downtown San Diego, the latest proposed addition to the city's skyline.
2007-05-21: Port blesses Lane Field waterfront development's concept
The city of San Diego approved a $325 million dollar waterfront destination with two luxury resorts, shops and resturants. For anyone living in this area already or thinking about buying, property values are going to sky-rocket! The one thing to calculate is any view obstructions, beyond this, this area's value is on the rise!
2007-05-10: Urban Real Estate Services Launches Division to Handle Infill Projects
In this 'San Diego Business Journal' article, read how Urban Real Estate Services has created a new division to accomidate smaller urban developers in redevelopment and urban infill areas.
2007-05-10: Agents, Builders, Developers, Union Members Giving Back to Those Who Need Help
See how real estate, construction and design businesses are stepping up to give back to the community, and keeping San Diego real estate progressing in this article from the San Diego Business Journal...
2007-05-01: Protect the coastal height limit
Many San Diego residents are voting to keep coastlines visible from inland by enforcing building height codes. Read more about how the San Diego landscape is progressing.
2007-05-01: Housing may have hit bottom: Prices to start rebound next fall, forecast says
One of the state's leading economic 'think tanks', UCLA's Anderson Forecast, released a study today showing that the worst may be over for San Diego County's housing market. San Diego's median sales price has stabilized over the past three quarters, even as foreclosures rose. Read more about San Diego's housing market forecast in this Union Tribune article....
2007-05-01: Vacation-home frenzy: Baby boomers are snapping up units in county and elsewhere, pushing market up 4.7 percent
With San Diego's year around gorgous weather, beautiful beaches, variety of communities and things to offer, it is no wonder why people would want to buy a vacation home in this area. Many investors exited the residential real estate market last year, while vacation homebuyers kept shopping...why is this? Read on...
2007-05-01: Planes, Trains and Automobiles: Creating Quiet Space in a Noisy City
Part of the excitement of living downtown is all the bustle and action outside your door, but we all need our peace and quiet. With modern soundproofing, city dwellers quality of life no longer needs to be compromised by outside noise. Many major downtown developers, such as Bosa Development who have completed five downtown San Diego residential projects and has three more under construction all with modern soundproofing, have taken building codes for noise levels to heart. Read more about the progressions being made to help keep downtown living quiet and comfortable in peaceful matrimony with the excitement and life that fills downtown San Diego.
2007-04-25: Manufacturing An Apartment Shortage
The rental market plays a very important role in the San Diego housing market. This is especially true in the Downtown San Diego market, as condos and apartments make up 99% of the urban housing in 92101. Due to the increase of condo development and condo conversion, the rental inventory remains very competitive. There is a high demand to live Downtown, and housing costs for owners are high when you add monthly HOA to an expensive mortgage payment. A 700 square foot unit can rent for over $1000 monthly. Vacancy rates are low for Downtown, and this is very good news for investors who can afford to purchase a rental property.
2007-04-24: A Housing Market In Transition
Ultimately, everyone is wondering how the Real Estate market is going to perform in 2007. With the fist quarter coming to an end, many analysts have put out their opinions. The lack of buyer confidence in 2006 has left a very diverse inventory for buyers. Prices have stabilized, and buyer activity has resumed. Buyers in todays market are going to find a selection of good deals from sellers, and many opportunities for incentives from developers. Many predict that this new buyer activity will again cause the supply of housing to correct. Prices will reflect this correction by coming up by the third quarter of 2007. Basically, buyers look for those great deals while the inventory is high, and while interest rates remain low.
2006-03-03: An Upswing In Condo Conversions
2006-03-03: Affording More Affordable Housing
2006-02-15: Diversified Local Economy Expected to Buoy San Diego's Housing Market
2006-02-09: February 2006 Downtown Economic and Housing Statistics Overview
For those of you interested in analytical data, graphs, and hard evidence statisticsthis is the resource for you. The company Market Pointe (a real estate data and statistics company) has put together a statistical overview of all areas of the Downtown San Diego Real Estate Market. As alwaysthe numbers dont lie. Have a look for yourself.