Green Real Estate Appraiser

Energy: What to Watch in 2014

Posted on January 5, 2014 | Leave a comment

1. Innovations :Advances in energy technology could be the silver lining to the sustained costs of fuel and utility service.

2. Transportation :In 2013, the U.S. began producing more oil than it buys from abroad. That and more-efficient vehicles may help lower energy costs

3. Utility bills: California is reversing course after more than a decade of sheltering homes that skimp on electricity from rising utility costs.

4. No nuclear:What is needed to replace the San Onofre nuclear plant, which provided 20% of the San Diego area’s electricity?

5. Solar: A showdown is looming over incentives for rooftop solar that have allowed the technology to flourish in San Diego.

San Diego consumers have a big stake in energy trends taking shape in 2014.

For the first time in more than a decade, California is overhauling the way utilities charge for home electricity, dividing San Diego Gas & Electric customers into winners and losers.

Also, at least a billion dollars is at stake in investigations into the breakdown of the San Onofre power plant. The probe will decide who will pick up the tab — utility customers or corporate stockholders.

The retirement in June of the reactors touched off an ongoing debate about what new fossil fuel plants — if any — are needed to ensure reliable power supplies. The outcome could mean new smoke stacks over Carlsbad, San Onofre and Otay Mesa. Customers would pay $1.6 billion for one medium-sized plant.

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Will Buyers Get Caught In A Squeeze Play?

Posted on January 4, 2014 | Leave a comment

Federal agencies haven’t been functioning much this month, but six of them are looking at a proposal that could squeeze huge numbers of buyers out of the mortgage market: a mandatory 30 percent down payment for borrowers who seek the best rates and terms.

The regulatory agencies have set an Oct. 30 deadline for public comments on a 505-page proposal that creates new rules for bond financing of loans for homes, autos and other assets.

Among the housing proposals is something known as “QRM-Plus.” It would require 30 percent down or more for purchasers, tough credit standards and a ban against second liens on properties at closing.

Though the proposal was floated as an alternative to a much less onerous standard preferred by a majority of the regulators, it is being taken seriously by housing, mortgage, civil rights and consumer groups — nearly 50 of whom are part of a coalition opposing its adoption.

The six agencies include the Federal Reserve, the Federal Deposit Insurance Corp., the Federal Housing Finance Agency, the Department of Housing and Urban Development, the Office of the Comptroller of the Currency, and the Securities and Exchange Commission.

San Diego – Home Prices Up but Pace Still Slowing

Posted on January 3, 2014 | Leave a comment

San Diego County housing prices rose again in October, but the pace of growth continued to slow.

The S&P/Case-Shiller Home Price Index showed Tuesday that from September to October, the index grew 0.3 percent. That’s down from the 0.9 percent gain from August to September, and the 1.8 percent boost from July to August.

“We’re in a slowing appreciation environment,” said Michael Lea, a real estate professor at San Diego State University. “That kind of reflects the market fundamentals that we see.”

Is your neighborhood slowing? Contact the real estate appraisers at www.scappraisals.com for your home value questions.

Lea said although low inventory and fewer distressed sales are putting upward pressure on home prices, there’s a slowdown in demand, which is partially seasonal and also because interest rates have ticked up.

“Those factors have been in place for the last few months and I expect them to continue into spring,” Lea said.

The index compares repeat-sales prices of single-family homes. In October, it reached 194.07 for San Diego County, a 19.7 percent gain from October 2012. In September, the annual gain was 20.9 percent.

Lea said the market is returning to normal year-over-year appreciation levels, which he considers for San Diego to be in the 5 to 6 percent range. Annual 20 percent price gains are unsustainable and could lead to a bubble, he said.

Disclaimer: for information and entertainment purposes only

Energy: What to Watch in 2014

Will Buyers Get Caught In A Squeeze Play?

San Diego – Home Prices Up but Pace Still Slowing

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