Category Archives: Uncategorized

Chinese buy less U.S. real estate in 2017

Speculation that Chinese investments in U.S. real estate would plummet after Beijing enacted tighter regulations on outbound investments last August has proved correct

There was a 55 percent drop in new Chinese investment in U.S. commercial real estate in 2017 compared with the year before, as spending fell from $16.2 billion in 2016 to $7.3 billion last year, according to a report earlier this week by real estate brokerage Cushman & Wakefield.

China fell from first to third place among foreign investors in the U.S.,behind Canada and Singapore.
While investor activity has declined noticeably, established Chinese investors who already have a presence in Southern California “remain active pursuers of large high-profile offerings in this region,” property broker Jeffrey Cole of Cushman & Wakefield said.

“We still expect Chinese capital to flow into Southern California, albeit at a reduced and slower pace in the short term,” he said.

BY Roger Vincent       Vincent writes for the California News Group.

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Demand Pushes San Diego Home Prices Up in December

The San Diego County median home price finished the year at one of its highest points.

  • The county median home price increased 9.1 percent in a year.
  • December’s median price of $540,000 was the second-highest of the year, tied with November
  • Nearly 500 new homes sold in December, the most in one month all year.

San Diego County home price. Here’s the full story

The San Diego County median home price was $540,000 in December, tied for second-highest of the year, capping off a year of record price gains, said real estate tracker CoreLogic on Wednesday.

In 12 months, the median price increased 9.1 percent, outpacing the 4.2 percent yearly increase in 2016.

San Diego County’s median home price hit an all-time high in June of $545,000. Its lowest point of the year was $492,500 in February.

December is typically a slower month for the housing market, but real estate agents and market watchers said high demand, and a limited number of homes for sale based on historic averages, pushed prices up.

Also, a strong economy with high consumer confidence is also a factor, said Alan Gin, economist at University of San Diego’s Burnham-Moores Center for Real Estate.

“The economy is solid. Unemployment is low,” he said. “People hear that housing prices are going up and they want to jump in before it gets out of hand even more.”

read more at: http://www.sandiegouniontribune.com/business/real-estate/sd-fi-corelogic-year-end-20180123-story.html

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Flat fee real estate listers launch in San Diego

British real estate company Monday launched a flat fee home listing service in San Diego County, charging sellers $3,200 to list a home.

The cost is likely cheaper for most sellers who are used to a 2.5 percent listing fee, so the offer could save sellers hundreds of dollars in commission costs.

Purplebricks, with its flat fee, adds to a growing number of companies that are lowering commission fees in the competitive Southern California housing market.

Eric Eckardt, CEO of Purplebricks’ U.S. operation, said the company offers as much, or more, than a traditional real estate brokerage. Low listing fees are sometimes associated with agencies that don’t do much for clients.

“The flat rate obviously is a great value,” he said. “Home sellers get 3-D virtual tours, a full-service offering, professional photography and a local real estate expert that actually shows up at the house and works with them throughout the process.”

A typical listing fee is about 2.5 percent of the sale cost, and an additional 2.5 percent for the buyer’s agent.

For a median priced home in San Diego County, $540,000 in November, a seller could save roughly $10,000 on listing commission fees.

read more at: http://www.sandiegouniontribune.com/business/real-estate/sd-fi-purplebricks-launch-20180108-story.html

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