Green Real Estate Appraiser

San Diego’s housing market at mid year – UT Report

Posted on August 15, 2015 | Leave a comment

The costs of housing continued to rise in San Diego in the first half of 2015 both for renters and for owners.

The prices are outpacing wage growth, a trend that analysts say is only going to continue so long as the region sees its supply of housing remain tight. Mark Goldman, a loan officer and real-estate lecturer at San Diego State University, said home prices are appreciating faster than he expected.

“In the last year we’ve seen more and more positive news about the economy, and that could help to support the market,” he said.

Rents rose as the county continued to see high wage job growth, with developers responding with a new supply of high-end units.

Here’s a by the numbers look at San Diego County’s housing market for the first half of 2015:

$455,000: The median price for all homes sold in San Diego County in the first six months of 2015, up 5.8 percent from a year ago, CoreLogic reports. It’s the highest midyear median since it was $488,000 in 2007.

$1,575: The average rent in San Diego County in March, up 9 percent from the $1,445 average in 2014, according to Marketpointe Realty Advisors.

3,443: The average number of home sales per month, up 8.7 percent over 2014, CoreLogic reports. That average got a boost in June, when 4,467 properties changed hands. That was the most transactions in a month since June 2006.

6,335: The average number of active listings per month from January to June, a 2.9 percent drop from last year, according to the San Diego Association of Realtors. Given the number of home sales per month, that level of inventory represents less than two months of a supply. Most analysts consider 6 months of supply to be healthy.

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San Diego – Higher Water Bills Likely

Posted on August 13, 2015 | Leave a comment

Whenever drought hits, Californians invariably do their part to save water. They cut back on watering lawns, shorten showers and fix leaks.

This conservation ethic has taken hold quickly during the current drought. Ratepayers in San Diego County and elsewhere in the state are meeting or often significantly exceeding their state-mandated reduction.

Now for the unpleasant but predictable sequel. As water use goes down, the rates charged are going up. And many of those good citizens, who are dutifully pitching in for the public good, are outraged. But the retail water agencies, who directly supply residential, business and agricultural customers, say they have little choice.

The financial logic is inexorable. If you sell less of something, to balance the budget you must either cut costs, raise the price, or a combination of both, the agencies say.

And with many costs fixed, such as bond payments for capital expenditures and the cost of maintenance, some kind of rate increase is nearly inevitable. Water agencies often cushion the blow by drawing from a rate stabilization fund, but that fund is also paid for with ratepayer money.

Last Monday, San Diego city officials presented a proposal to raise rates by about 17 percent next year. That didn’t go over well with some members of the public.

How to plan your dream kitchen like a Pro

Posted on August 12, 2015 | Leave a comment

Choose a style

Buy magazines, jump online and research the latest in kitchen styles. James says this is the time to think big and consider what you like, need and want.

“Don’t flood yourself with design options but just grab enough information about the different styles of kitchens available,” he says.

Will a kitchen remodel add value to your home? Contact the appraisers at www.scappraisals.com for your value questions.

Organize appliances

Once you have a few style options selected, focus on the tools of the kitchen: the appliances. The type and number of appliances will impact on kitchen space, aesthetic appeal and functionality. So plan how, and how often, each appliance in your new kitchen will be used and the space it will require. Then integrate its presence and purpose in your design.

“You don’t need to buy all of your appliances in advance but you should educate yourself on how the appliances you will use in your future kitchen actually work. Talk to retailers and manufacturers, and ask them as many questions as possible.”

Budget

Work out a budget range and choose a priority expenditure goal.

“Do you want your kitchen to be really durable, aesthetically beautiful, hygienic or low maintenance?” James asks.

“If it is your forever home, spend that little bit extra on quality materials, like drawer runners and hinges, as you want it to last and stand the test of time.

“If you are going to be selling in a few years, and if you are in a certain real estate market, budget to design your kitchen at that level. Otherwise, pull back on cost. Get good quality finishings but stop at that.”

James also recommends putting an extra 10–20 per cent aside to pay for unexpected emergencies or hidden charges.