Category Archives: Real Estate

San Diego County’s home prices in March up 7.7%

The San Diego County median home price reached $515,000 in March, its highest point in a decade and a 7.7 percent increase in a year, real estate tracker CoreLogic reported Tuesday.

The median price had been below half a million dollars since October last year, which had some analysts surmising costs had hit an affordability wall. But, the March numbers show some buyers are willing to go higher to get homes.

While the new price might seem historically high, it is still below the nominal 2005 peak of $517,500, the equivalent of $644,487 in 2016 dollars after adjusting for inflation.

Analysts say a lack of available homes for sale is probably the biggest factor in March’s numbers, but there are other reasons, too.

read more at: http://www.sandiegouniontribune.com/business/real-estate/sd-fi-san-diego-home-price-march-20170425-story.html

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San Diego home price hits (another) record high $570,000

San Diego County’s median home price hit an all-time high of $570,000 in April, increasing 8.6 percent in a year, said real estate tracker CoreLogic. It surpases the previous peak of $550,000 from the month before.

The increase was largely led by the rising price of resale condos, going up 11.7 percent in a year to a record high median of $430,000 with 1,102 sales.

While the rising prices are notable, they still technically lower than prices at the height of the housing boom. In November 2005, the median hit $517,500, which would be more than $655,000 today after adjusting for inflation. Some economists argue comparing the current market to the last housing boom is faulty because the runup was based on unrealistic access to loans, and that’s not the case now.

In April, 3,717 homes sold, about the same as April 2017 when 3,640 sold.

It was not just condos that hit a record price in April, but resale homes. The highly desired resale home reached a record median of $610,500 with 2,258 sales.

read more at: http://www.sandiegouniontribune.com/business/real-estate/sd-fi-corelogic-april-20180523-story.html

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Which tech tool do homeowners use most

Owners.com surveyed a random sample of the general U.S. population and an oversample of consumers in the Atlanta region with a total of more than 1,000 buyers participating in the survey between January 31 and February 8, 2018. It found that 83 percent of the buyers surveyed worked with an agent to purchase their home and one-third of those buyers said that they wished their agent leveraged technology to streamline the process of home buying.

Most of the buyers were conducting their home search using mobile phone apps but wanted their agent to provide them with tech-based tools to increase their efficiency in the process and keep them organized when they began looking for a home.

In terms of technology, some of the things that agents could do to help buyers save time and increase efficiency included keeping track of all their appointments, viewings, or follow-ups in one place; ability to schedule showings online; and communicate through a mobile app, the study revealed.

The study indicated that homebuyers were also becoming more informed with 62 percent of the buyers stating that they did their own property search online or accessed online data at least once every day for information on their home search or purchase decisions.

“With technology and mobile applications having revolutionized other industries, homebuyers are now seeking brokers that keep them more organized and efficient with cutting-edge technology and tools and make their home search even easier,” said Dario Cardile, VP, Growth Marketing at Owners.com.

In terms of specific data sets, the survey found that 42 percent of the buyers stated community information, including crime rates, demographics, walkability scores and quality of nearby schools as data they accessed while looking for a home

One-third, or 32 percent, of buyers, said they were influenced by home appreciation/depreciation and local market home sale data, while 26 percent cited historical property data including property tax, prior sales, and foreclosure activity in their searches.

read article at: http://themreport.com/daily-dose/05-17-2018/what-tech-tools-do-homebuyers-want?utm_source=Appraisal+Buzz+Newsletter&utm_campaign=8381ffdae5-EMAIL_CAMPAIGN_2018_05_21&utm_medium=email&utm_term=0_7baca3d9f5-8381ffdae5-181107085

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