Market News
Condos, Lofts and Penthouses for Sale
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!
2012-05-04 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.
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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.