NEW LISTING!!! (Sandicor MLS#130059225) GREAT INVESTMENT (appx. 10%+ ROI) or 1st-time Buyer Opportunity! ESCONDIDO 2-level Townhouse: $162,900, 2BD 1.5BA, 1,120SF, Short Sale (lender knowledge), Det. Garage, Laundry, Stainless Appl., Gated complex, Pool/spa, OPEN HOUSE 11/11 (12PM-3PM) http://instaview.propertypanorama.com/instaview/snd/130059225 http://ow.ly/i/3EV8Z
SOLD!!!! Congratulations to both my clients (seller and buyer) on this smooth townhouse transaction in 92102. http://ow.ly/i/3De66
INVESTOR’s DREAM!! In 92102 – NEW INVESTOR LISTING: $143,500! 2+2.5, 3-level townhome, VIRTUAL TOUR @: http://goo.gl/feitvz - near 805/94 Fwys, Trolley (1 block), sits on a bluff w/views, 2 balconies, 1,132 SF, laminate and large, diagonal, ceramic flooring, stainless appliances and much more. INVESTORS: CAP RATE = 9-10%. Current seller could lease back from new owner (not required), Short Sale (bank knowledge and OPEN communication = can close ASAP). Making an offer?
Call Me to discuss further! 619-519-6221 (or)
INTEREST RATE COMMENTARY (below chart):
On Friday, the U.S. Department of Commerce reported lower-than-expected housing starts. All in all a drop between June and July of 13.4%. Outside figures show an adjustment (for end of Summer seasonality) producing a net drop of 12.4%.
Mortgage rates are at their highest levels in two years. This was to be expected and the buyers stopping their hunt because they expect a drop may very well be passed up by these still historic low rates. However, if all you need is a little hope albeit a naïve hope - should Q2 GDP not rise appx. 2.3% as predicted we MAY see rates fall a little bit (nominal to gamble in my opinion).
The benefits of homeownership will net you far more than a short-term and nominal rate change. Don’t forget the tremendous appreciation we are seeing in prices here in San Diego (10% in a large sample of local neighborhoods just in the last few months)! That translates to thousands in a matter of days! (search for a home or investment property in San Diego)
Lastly, the release of Fed notes last week (July meeting) that all but confirm to a tapering off of bond-buying program by the government which should result in rates a rising regardless of short-term factors, come 2014.
CONTACT me to see how your particulars will determine your best market move at this time.
Broker Associate & Realtor
CA BRE #01860422
Builders started work on fewer single-family homes in July, marking a pause in the residential construction rebound that’s helping to propel the U.S. economy. Multi-unit construction rises.
“Things are still far better than they were a year ago, but it feels like progress has stalled out for a little while,” said Stephen Stanley, chief economist at Pierpont Securities LLC in Stamford Connecticut, who projected starts would rise to a 900,000 pace. Builders will eventually “expand operations, they’ll hire workers and get more aggressive. At the moment they’re happy to keep the market tightly supplied because that allows them to raise prices.”
Building permits for single-family projects climbed to a 613,000 pace in July, the report also showed, exceeding the number of starts and signaling a possible pickup in construction in coming months.
Work on multifamily homes, such as apartment buildings, jumped 26 percent to a 305,000 rate after falling 24.8 percent in June
Three of four regions registered increases in total housing starts last month, led by a 40.2 percent jump in the Northeast, according to the report. Construction dropped 7 percent in the South.
On a year-to-year basis, housing starts were up 20.9 percent in July.
Gains in the housing industry have extended beyond builders to boost lenders and suppliers of construction materials as well. Even with the improvements, starts are short of the 2.1 million in 2005 at the height of the boom, which was a three-decade high.
Around the peak, housing made up 21 percent of Martin Marietta Materials Inc. (MLM)’s business, contrasting with 8 percent last year, Chief Executive Officer Howard Nye said at the Jefferies Global Industrials Conference on August 13. The company, which provides crushed stone, sand and gravel for construction, expects starts to increase to an annual pace of 1.5 million in “a couple of years.”
Broker Associate & Realtor©
CA BRE# 01860422
For more information on our next 1031 Seminar reply HERE
Matt Magee (619) 519-6221 BRE#01860422 La Jolla, CA Website
PACIFIC BEACH, CA (San Diego) - A Top 10 U.S. Neighborhood!
Median household income: $63,900
Median home value: $620,700
Typical 2-bedroom rental: $2,100
Pros: Pacific Beach has a rep as a nightlife-packed post-collegiate party spot. Lately, however, the area has started to grow up.
Young professionals are flocking for the quality of life and relatively affordable homes (in nearby La Jolla, a typical home costs about $1million). The schools are another draw; Sessions Elementary and Pacific Beach Middle School are among the best in the city.
Courtney Ludwin, 36, moved to Pacific Beach 10 years ago and “fell in love with the laid-back beach community,” he says. Last year he and his wife and twin 3-year-old boys bought a house where they can walk to restaurants and the beach. “I’m fortunate to live in a place where most people come to vacation,” he says.
Cons: The least diverse on our list. Weekend crowds can mean lines and battles for parking. –S.M.
TO SEARCH HOMES in Pacific Beach (CLICK HERE)
If you would like us to follow-up with you and create a personalized search based on your needs – please complete the below contact information and we’ll respond shortly:
California is NOT the most expensive state for closing costs – so who is? Here are the top 5!