Summertime…and the livings easy…

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I have always thought of San Diego as, “That sleepy little beach town just south of S. California.”  Let’s face it, we are NOT Los Angeles or Orange County.  San Diego has it’s own vibe and pace.  We are laid back and buzzed on craft beer.  We surf, skate, hike, wander, and do “Local” better than most.  With that said I offer up some of the best things to do this summer in San Diego courtesy of SanDiego.org.

FREE things to do:  Beaches.  It’s no secret San Diego is home to some of the best beaches in the world.  We offer everything from surf beaches to walking beaches.  Kids beaches to adult beaches.  A few of my favs include Law St. in Pacific Beach, Coronado, San Elijo, Ocean Beach, and of course Mission Beach.

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Balboa Park after Dark.  Consistently rated as one of the best urban parks in the country, Balboa Park comes alive at night!  Check it out!

Attractions:  Where to start?  The Zoo and Wild Animal Park?  Sea World?  Del Mar Races?  LegoLand?  Belmont Park?  Birch Aquarium?  Cabrillo National Monument?  OK take your pick!

4th of July:  San Diego has deep military roots and no one does Independence Day like San Diego!  From the parade on Coronado to the massive and synced up fireworks displays, San Diego does the 4th of July right!

Del Mar Horse Racing:  There is literally no better place on Earth then opening day at Del Mar.  Where the turf meets the surf!  Racing starts on July 19th, and in addition to racing be sure to enjoy the several concerts happening as well.

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Not so boring market stats…

It’s no secret that San Diego is in the midst of a once in a generation type sellers market.  My question is, “Do you really, really get that?”  I mean really?  If you are in your first home, a “starter home” type property, now may be the best opportunity you ever have to cash in and move up.  Now, there are a few considerations and challenges:

  • Prices are high
  • Inventory is low
  • Interest rates are holding

So what does that mean?  High prices will benefit you as a seller, so that’s good!  The flip side is you will pay more for that move up property.  The questions is, “Will it be worth it?”  I bet yes, if you are planning to buy your home for life…where you will be for the next 15-20 years or more.  That’s the trade off, get what you want now for the long haul.

Low inventory means your options might be limited in some price ranges and locations.  Keep an open mind on these things and you should be OK.  One word of caution, as this is an EXTREME sellers market, don’t low ball!  Come in with your best offer out of the gate and understand you probably will be in multiple offer situations.  Focus on the end game…your “Forever Home”.

Interest rates and loan options could be your saving grace.  You can get into a home for less money out of pocket, and a monthly payment that could be close to your current payment.  Find a good lender who will work with you to create a loan that works for your situation and not try to push you into “the loan of the month”.

Below are some visuals on a few core metrics I track to gauge the market.  This data is pulled from the SANDICOR MLS using a platform called InfoSparks.

 

 


If you’d like to see market stats in your neighborhood, please let me know. I can pull this down to the zip code or community level and would love to share what your hyper-local market looks like.

Welcome to Real Estate Life.

Family

Hey everyone. Man, it’s been a minute since I updated my blog!  So long in fact, that I decided to completely scrap the old and relaunch with a new look and updated design.  So welcome to Real Estate Life!

Of course I spent several years publishing The Real Estate Rap, and decided to keep all that content (well most of it anyway) in tact.  So there are a ton of old posts you can check out…or not…if you’d like.  I am making a commitment to post twice a week, with a different flavor than I previously did.  The focus will be more on the lifestyle of an active real estate professional in San Diego.  And really more like the lifestyle of a family of Realtors, who live, work, and play everyday in our amazing part of the world.

If you didn’t know, my wife Kathy, is a fabulous Realtor as well!  In fact she is a Top 10 performer with Keller Williams in La Mesa.  She works all over San Diego, mostly by referral, and is one of the best negotiators I know.  Our son, Cooper, just graduated from San Diego State University with a degree in Business Management and Entrepreneurship.  Cool, right?  Oh, and he also just got his real estate license making him the 3rd generation of Realtors in our family.  Kathy’s mom and step dad got it all started for us way back in the day.

So there you have it.  A newly revamped blog, some background on who the heck we are, and a look into what you can expect going forward.  I hope you’ll check in later as I promise to share some shenanigans from a fun event I’m going to tonight sponsored by the Pacific Southwest Association of Realtors.  Fun fact…in real estate, if you play your cards right, you’ll get plenty of free food and drinks!  Later!

 

What is the # 1 challenge facing the San Diego real estate market today?

 

Time for change…

KellerWilliams_Realty_Sec_Logo_RGB-revSpring time…the time of re-newel.  A time for change, growth, and opportunity.  And for me a big step in a new direction.  As of today I am proud to announce I am the new Team Leader at Keller Williams Realty in La Mesa.  This is an added bonus because I live in La Mesa…like 5 minutes away!  That’s huge because most of my career has been spent in larger regional and statewide management roles that often required travel.  I like to travel, but with a young family it can take a toll.  Who wants to miss softball and soccer games, and piano recitals?  I live for that stuff man.  So this move represents a sort of homecoming for me.  There are over 100 agents in the office, many I have known for years.  That’s a cool thing because I get to reconnect with old colleagues and meet some great (and productive) agents I did not know.  I always loved that part of this business, building relationships and getting to hang with some cool people.

There is work to be done here.  A kind of re-launch if you will.  This market center was one of the first KW offices in the San Diego region and has a great history.  But like many real estate companies, it struggled over the past few years.  The good news is this team is primed for growth and willing to step up and make some great things happen.  The goal is nothing short of market domination and continuing the tradition of serving our clients and each other at the highest level possible.

I have been keen on KW for a few years, having met with some key players in S. California.  Timing and geography always seemed to come into play, so being in my hometown makes this even more special.  Keller Williams has a long history of helping agents “Build careers worth having, businesses worth owning and lives worth living.”  I’m excited to now be a part of that.  Being able to affiliate with the largest real estate company in North America, and soon the world, has its advantages after all.  More than that however, is knowing that because KW is a company of systems and models, I get to share that with others and impact people on a daily basis.  And that’s what gets me up and going each day.

I’d love for you to reach out and connect to learn more about why I made this change.  If you are open to learning more about Keller Williams Realty you can visit:  http://redcareers.com/lamesa for information and to connect with me.  I look forward to hearing from you and here’s to a fantastic 2014.

Jason

Home prices up? Not so fast…

Over the past 6 months I have seen several reports indicating housing prices are on the uptick.  On a large regional and national scale this might be the case.  Reasons given include things like low inventory levels, rising interest rates, investor competition, etc.  But what do we discover when we look at what really matters, the hyper-local market?  Well in San Diego county we find that there are several markets with a drop in year over year pricing.  This happens in most markets when you look deep enough, but what makes it very interesting in this case are the areas where we are seeing these drops.  The most prominent areas?  Look to the coast!

SunsetLet’s start in Ocean Beach.  According to DataQuick, there were 15 home sales in July 2012 at a median price of $787,500.  This year saw 27 sales with a median price of $725,000.  That’s a drop of 7.94%.  Let’s move up the coast a bit to the Mission/Pacific Beach area.  Last July saw 20 sales at a median price of $771,250 compared to 17 sales this July at $757,500, a drop of 1.78%.  Even farther north in Solana Beach we had 12 sales at a median price of $1,835,000 last July compared to 30 sales at a median of $1,472,046, a drop of a whopping 19.78%!  By the way, the median price represents an equal number of sales above and below the median, which is different from the average sales price.

But my choice for the best bang for your buck when it comes to beach living is Imperial Beach.  IB has the distinction of being the most southwesterly city in the US, and being snuggled up against the Mexican border offers some challenges, to be sure.  But with its laid back vibe and proximity to Coronado, IB is hard to beat when it comes to owning real estate along the coast of San Diego county.  Last July IB had only 3 single family home sales at a median of $325,000.  This year saw a jump to 15 home sales at a median of $307,500, which is a drop of 5.38%.  Value in every sense of the word.

So what does it all mean?  First let’s start by acknowledging that it is more expensive to buy real estate along the coastal areas.  However if you are looking for the best values and this happens to be your price point then you are in luck!  And let’s face it…living at the beach is a lifestyle choice more than anything.  And with that lifestyle comes a price.  The good news is that no matter what part of San Diego county you live in, chances are you’re only 20 minutes or so from being able to enjoy this lifestyle!

MB