Administraion Stuff

INTEREST RATES FALL!! & 2nd QUARTER SD HOMES

There is a lot of real estate news this week in regards to interest rates, the health of the San Diego County real estate market and also some news about the re-districting of the City San Diego.

As I am sure most of you are aware we have had a volatile week on Wall Street and Washington, in regards to the downgrade of the US Credit Rating. Well it is interesting that as a result of that, our interest rates have fallen to historic lows. As long as you have excellent credit and qualify with your income etc, you can get a rate as low as 4% for a 30 year mortgage. I believe the 15 year mortgage is in the 3% level, In addition to that, the prices of homes are still low and the buyer is definitely in the pound seat in regards to negotiating on a price. If you are on the sidelines, NOW is the time to buy.

Secondly, this morning the 2nd quarter report about the state of the real estate market in San Diego County came out and it is very interesting. The market here is considered “sluggish” but if we are talking about “regular” sales and not short sales or foreclosures or new home sales, it is quite robust with a 20% increase in volume from the 1st quarter and the 2nd highest in the last 4 years. That is good news for those who have equity in their homes and need to sell. Please click on this link to read the report in full, it is very interesting:
http://www.sandiego.edu/pipeline/documents/2011Q2ResidentialRealEstateMarketReport.pdf

Thirdly, (as you can see there is a lot of news) for those of you who live in the City of San Diego, the city is about to have new districts for the City Council. If this is important to you then please click on this link to see the report. If you scroll down to page 23 in the report it does have a redistricting map and you can see more clearly where the lines are. One of the biggest changes in that Rancho Penasquitos is moving out of District 1 and actually split up into 2 districts.
http://www.sandiego.gov/redistricting/pdf/preliminaryredistrictingplan.pdf

I hope that you are finding this blog helpful and I would love any feedback. If there is anything specific you would like me to research and get info on for you for a future blog, I would be happy to do that.

Have a great weekend.

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Lois Reisdorf

When you are buying or selling property in today’s real estate market, it’s important to have confidence in your real estate professional. My commitment as your local REALTOR is to provide you with the specialized real estate service you deserve.

In addition to being a listing agent, I am a trained Relocation Agent and have helped relocate many clients from around the world.

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Lois Reisdorf CRS,ABR
Realtor
Windermere Homes & Estates

Office Address
14677 Via Bettona, St. 120
San Diego, CA 92127

Office Phone: 619-838-8292
Office Fax: 858-408-1966


Windermere Homes & Estates.
CalBRE#: 01257745