Category Archives: Real Estate

San Diego – Medium Home Price $495,000

Posted on July 20, 2016 | Leave a comment

San Diego County’s median home price stopped just short of hitting half a million dollars in June, real estate tracker CoreLogic reported Tuesday.

The median price last month reached $495,000, representing a 4 percent increase from a year earlier. The price has yet to hit its pre-recession peak of $517,500 in November 2005.

Remember – this data reflects all sales; San Diego has mutli-million dollar estates and mobile homes zoned as SFR. For value questions contact the appraisers at www.scappraisals.com

Sticking to its usual pattern, June had the most home sales — 4,409 — of any month this year.

The median price of a newly built home was $659,000, an increase of 21 percent since the same time last year. The resale home median, $545,000, and resale condo, $383,500, increased under 7 percent in the past 12 months.

Mark Goldman, finance and real estate lecturer at San Diego State University, said higher home prices are tough for buyers because wages are not increasing at the same rate. However, he said buyers benefit from low mortgage interest rates.

“High home prices are going to be a fact of life for San Diegans since the supply of housing is so limited and our population and employment continue to grow,” he said.

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Modern house held together by double-sided tape

Posted on July 9, 2016 | Leave a comment

tape

This house may be held together with double-sided tape, but it’s anything from crumbling.

The aptly named ‘Double Stick’ house by Studio Pali Fekete Architects is new and, according to the firm, is the first to be built using industrial-strength tape.

Not only is it structurally sound but it’s also been lauded for its architecture, taking out first prize in the Housing category at this year’s Los Angeles Business Council Architecture Awards.

Fears of being shut out of housing

Posted on July 1, 2016 | Leave a comment

Rising home prices set off fears that real estate will become even more expensive, making it impossible ever to buy a home in a given city.

It’s easy to understand how such worries spread, but the historical record suggests that these fears are generally exaggerated. Cities with steep price increases today will probably have much smaller upticks in the future. And for the most part, differences in price increases among cities are well explained by short-term variations in employment growth.

Consider some recent trends. In the year ended in March, cities like Denver, Seattle and Portland, Ore., had employment growth of more than 3 percent, according to the Bureau of Labor Statistics, along with double-digit home price increases, according to the S.&P./Case-Shiller indexes. At the same time, employment growth has been relatively tepid in cities like Boston, Cleveland and New York, and so have home price increases.

…Given these facts, why do people still worry that home prices are getting out of reach? The answer can’t be found in the housing data. Instead, these fears may reflect anxieties about other issues — like income inequality, globalization and the threat of job losses because of robots and artificial intelligence. In prosperous cities, rising prices may connote economic exclusion.