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CONTENTS
- Keeping Up with Dennis & Sunshine
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Check out my recent Blogs - HERE
- How to Determine if You're Ready to Buy a Home.
- Why Move to a Smaller Home After Retirement?
- The Price of Perfection: Don't Wait for the Perfect Home
- Not a Crash: 3 Graphs that Show the Difference.
- What To Do When Your House Did Not Sell.
- Housing Market Forecast for 2nd Half of 2024
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Focus on Time IN the Market, Not Timing the Market.
- Buy in Encinitas for $475K - Wow!
- LAWSUIT, WHAT LAWSUIT...In Real Estate?
- How Presidential Elections Affect the Real Estate Market.
- Market Snapshot.
- Big Increase in Homes For Sale.
- Market Statistics.
- Renting vs Owning.
- What Can Buyers Do Now?
- Buying New Construction Homes Starting at $544K for 1341 SqFt
- Can't Afford to Buy Here? Alternatives!
- Housing Information
- Can the Seller be the Bank?
- 40 Downpayment Assistance Programs now in San Diego County
- Our Seller Concierge Service
- Resources & Fun Facts
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Home Buyers Guide - Summer 2024 - Click HERE
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Home Sellers Guide - Summer 2024 - Click HERE
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First-time Buyers Guide - Summer 2024 - Click HERE
- How to make Quick Money in One Day
- Local Professional Referrals to Trades & Services.
- Why you should Hire a Pro. Check out the photo.
- Real Estate Fact: Seeing Ghosts in your house?
View as Webpage
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Keeping Up With Dennis & Sunshine | |
Sunshine's Singing Group, Pacific Coast Harmony, had a great time at the International Barbershop Competition in Cleveland. They did not beat out all the 35 other choruses but had a great experience. Click HERE to hear some clips of their past performances. Contact her to join the group if you love to sing. They finished 1st in their Division at the Southwest Regional Competition in May 2024.
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The Encinitas Lions Club is looking for members. If you are interested in being part of a great local service club, contact me. Our primary focus is on the sight impaired with activities like Blind Surfing, supporting service dogs, local eye events where we give free exams and free glasses from the 25,000+ pairs we collect annually, and more
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Check out my July Calendar of Events for San Diego County HERE
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Yes, Encinitas for only $475K!!!
Located in the highly desirable "Park Encinitas" where you own your land. This 2-bedroom and 2-bath home has an open, flowing floor plan and lots of light.
Upgraded with double pane energy efficient windows and slider. Great breezes and a large entry patio.
Great 55+ community with pool, spa, Club House, Social Club activities, library, kitchen, billiard room, picnic area, shuffleboard, and RV parking is available. Two Pets allowed. Low $275 HOA. Convenient central location in Encinitas, a short distance to a medical complex, shopping, services, parks, and a great Senior Center. Freeways and beaches are within 3 miles. Call 760-212-8225 for more info and a private showing.
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LAWSUIT, WHAT LAWSUIT?...In Real Estate?
I have talked with many of my clients and friends about the result of the court case against the National Association of Realtors along with most of the larger Real Estate companies. I found that there is a huge mis-information gap.
Nothing and everything have changed.
The provisions of the settlement have already been started and will be in full effect by August 17th, 2024
I will have another email next week to discuss the lawsuit and how it affects you as a buyer or seller of Real Estate.
If you are considering buying or selling a home in the next year and do not want to wait for more information next week, please feel welcome to contact me at 760-212-8225
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How Presidential Elections Affect the Real Estate Market
History repeats itself and that is no different for Real Estate in a presidential election season. It is very interesting to see the patterns over the last 40 years. Home sales went up on 9 or 11 elections
Home prices went up in 7 of 8 elections.
Mortgage rates went down leading up to 8 of 11 elections.
While it’s natural to feel a bit uncertain during an election year, history shows the housing market remains strong and resilient.
For help navigating the market, election year or not, let’s connect.
Click HERE to see my full blog post with more graphs, facts, and observations.
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WOW!!! 44.4% in inventory seems like a huge number and many would think that prices would have to come down because of it. However, rates have come down a little and demand is enough to help prices continue to rise. |  | |
Big increase in homes for sale! We are now at 4312 compared to 3815 on 6/11/24 and 3285 on 5/11 and 2889 on 4/12/2024. A year ago, on 6/10/2023, there were only 2773 houses and condos available for sale. Most of that increase has come in the last 3 months as sellers are tired of waiting for interest rates to come down.
We are still way below the pre-Covid inventory as shown below so do not expect prices to drop much and definitely not crash as so many of the Click-Bait headlines say. Demand is still strong as can be seen in the high list-to-sale ratios. We are still struggling with an inventory problem. As you can see, San Diego historically had between 8,000 and 10,000 listings per month until 2019. We have stayed at 2,000 - 3,000 listings per month since. You won’t see prices moderate until the inventory returns to where it was. If interest rates go down without more listings, you will see prices increase a lot!
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Market Statistics - from June, 2024 | |
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San Diego County Stats
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4312 Available Listings on 7/18 up from 3259 on 5/11. Good news for buyers
- 28 Median Days on the Market for Active Listings, up 3 days from June.
- 5 Foreclosure & 3 Short Sale active listings.
- 2524 Pending Sales
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16 Median and 28 Average Days on the Market for Pending listings
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1974 Sold, down from 2211 in May and 2059 in April
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·$949K Median Sold price, up from $920K in May
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$939.5K is the Median List price
- 10 Median days on the market for Sold Listings and a 20 Day Average
Contact me for detailed info on your specific property or area of interest.
Source: SDAR, MLS
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The lowest price sold outside of the desert or the mountains was $299K for a one-bedroom, 722 sqft condo in El Cajon. HOA is $320. | |
The highest-priced home sold was in Coronado at $9.825 million.
This 2020-built home is 3607 SqFt and has 4 bedrooms, 5 bathrooms, and a panoramic ocean view from the rooftop deck with a saltwater spa. Check it out HERE.
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San Diego is the 18th most competitive market in the US. The study below shows that there are 10 renters looking per available property.
Unfortunately, we are also the most expensive city in the US as a percentage of median rent earned, that must go for the median priced rental.
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I am looking to help sellers who have a strong need to sell now.
That would be people with job relocations, moving closer to family, going into a retirement or care community, divorce, or death (I am a probate and estate specialist and a Senior Real Estate specialist so I understand their needs and I can help).
Please let me know if you know anyone experiencing any of these situations.
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What can a buyer do in July 2024?
Pay a constantly increasing rent.
Buy with a 6.95% loan and refi in 1.5 to 3 years.
Ask the seller to do a 2% – 1% rate buydown: 4.95% the first year.
Buy with the Seller's financing and maybe get a 2% to 4% interest rate.
Lease Option – Lease Purchase.
AITD or Wrap Around Loan.
Assume the seller’s loan.
Buy Subject To the existing loan.
Buy with a Land Contract/Contract for Deed.
Buy Real Estate elsewhere for investment.
Listen to this 20-minute video about buyers' attempting to time the market, hoping prices will go down and what happens if they do not drop. HERE.
Or, call Dennis Smith!
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Buying New Construction Homes
There are 37 New Home Communities with 153 homes now compared to 139 homes available in San Diego County last month.
Did you know you can buy a New Construction, 1806 SqFt, house in San Diego County for as little as $793K.
Or a 2-bedroom, 2.5-bath, 1321 sqft condo starting at $544K.
Go to www.showingnew.com/insandiego
Very important information: You must have Sunshine or I accompany you to the development for the first time or you do not get to use us to represent you in the purchase. And they are trained to remember every face that walks through the door, so they do not have to pay a commission, even if you just grab a brochure.
Our representation does not change the price or builder upgrades. It does get you our 30 years of experience of selling new and previously built homes.
Some builders are offering interest rates with percentages in the 4's.
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Can't Afford to Buy Here in San Diego County?
Invest out of the county or out of the state by yourself or with me.
That is what we did. We bought some small houses and duplexes in Oklahoma, and we closed on one in Arkansas late last year...and you can too! Putting 25% down on a $100K to $300K home that cash flows is a lot easier than buying in most places in CA for $500K+++
In CA, MTR (Mid Term Rentals) are 1 to 11-month terms and, when furnished, make a good rate of return. We own two in Fresno.
I am most excited about our current purchase in Tampa for SRO - Single Room Occupancy/Co-living where I have a $318K house and $70K rehab that will gross over $6000/month. Let me know if you are interested in something like this for your investments, or to partner with me. Also, lending money to me or others, all backed by real estate.
If you have money in your retirement account, I can help you get 7 to 10% interest or even buy investment property with that money.
Remember, we can connect you or your friends with a top investment-minded Realtor almost anywhere. There are deals to fix and flip or buy and hold. These are usually 20 to 30% below market. Some are in SoCal and even San Diego County. Just Ask!
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Call me to help you find the right home for you!
Please let us know if you, or anyone you know, are thinking about selling, buying or relocating anywhere in the US or the World.
We are never too busy for your referrals!
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The Bank of Mom and Dad.
A new survey of 2,000 adults by LendingTree found nearly two in five homeowners (39%) have received down payment assistance – with 78% of Gen Z homeowners reporting some financial support for a down payment, mostly from their parents. The survey also found 54% of millennials have received down payment help, followed by 33% of Gen Xers.
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40 Buyer Assistance & Rehab Programs Here | |
There are 40 different Homebuyer Assistance programs in San Diego County along with us asking the seller to help you out with a rate Buy Down.
There are No Money Down Loans, Forgivable 2nds and grants.
There are also programs that will lend you the money to buy the home along with the money to renovate the home.
Call me and let's chat about how these programs can work for you.
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Need to Repair/Renovate
Before Selling?
| In my Concierge service, I have contractors who will take their payment at closing, so you get the most money from your home with little or nothing out of your pocket upfront. They do everything from minor repairs to a full remodel, even adding a bathroom. They will also advise you on materials. Contact me for more information. | |
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Home Buyers Guide - Summer 2024 - Click HERE
Home Sellers Guide - Summer 2024 - Click HERE
First-time Buyers Guide - Summer 2024 - Click HERE
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How to make Quick Money in One Day
Maybe you need money now, but your paycheck isn’t hitting your bank account today. Or maybe you’re just interested in learning how to make quick money in one day. Or maybe you want to supplement a downpayment on a home.
From poker to predatory loans to bank robbery, movies often depict some horrible ideas about how to make fast cash.
However, making quick money — even today — is possible with a little ingenuity, creativity and/or elbow grease.
See the full article from Clark Howard, someone I trust to give you legitimate information.
He has several ways in each of the following categories:
Selling Things
Online work and surveys
Use what you have
Work outside your home
Pass this info on to your kids, grandkids or anyone you know that might need some extra cash.
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Local Professional Referrals
If you need the services of a local professional beyond your Realtor, we know many high-quality pros and would be glad to refer them to you.
Lender, Reverse Mortgage, Title, Home Inspector, Property Management, Credit Repair, Notary, Top REALTORS in other areas, Insurance, Tax Prep, Estate Planning, Contractors, ADU Construction, Handyman, Hauling, Flood/Fire Restoration, Flooring, Solar, Interior Designer, Power washer, Landscape Design & Maintenance, Dry Carpet Cleaning, Attorneys (Estate & Trust, Family Law, Real Estate, Business, Personal Injury and more), Promotional Specialties, Investment Adviser, Franchise Broker, Business & Web Marketing, Photographer, Chiropractor, Counseling, Specialty Footwear, Health, Skin Care, Hair Stylist, Dentist, Audiologist, Business Development, HR assistance, CPA, Bookkeeping & Payroll Services and many more.
Just Ask!
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I am so proud of my job. I saved a lot of money because I did not have to buy any tools, like a level or anything... or permits that would require a railing.
And they had a sale on canned foam insulation!
Let me know if you need a qualified contractor or handyman who is a on the level.
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We are never too busy for your referrals! | |
Enjoyed this newsletter? Share it with your friends! | | | | |
