Mark Levenson

We're only a few days into the new year and there's already great news to report.  According to a recent report  employment is up, unemployment is down and home prices have gotten even more affordable.  While rent has gone up approximately 4%, home prices in the San Diego area have actually gone down around the same amount.  It seems that homeownership is still the way to go!

While San Diego is experiencing a slightly higher job growth rate than the rest of the state (we are at 3% while the rest of the state is around 2.2%), the entire state is continuing to try to recover from previous unemployment numbers.  More than 50% of October 2011's home sales were from distressed homes.  Currently, however, sales of foreclosures are on the decline.  Currently, they make up about 34.1% of the market, down from the previous year's 36.7%.  Indications are that banks are now more willing to work with homeowners by switching their focus from foreclosures to short sales (short sales make up about 19.5% of the resale home market, up from 18.2% the year before).

The median price for a San Diego area home has decreased as well.  This helped boost home sales by 8.5%.  Inventory of single-family detached homes available for sale has gone down, too.  There is currently a 5.3 months supply on hand, down from the previous 6.2 months of inventory.

If you are interested in buying a San Diego area home, you had better start looking now.  Many local communities have found that excess inventory is quickly being absorbed back into the market and prices have either stabilized or are even beginning to increase.  Mortgage companies have begun to ease their lending restrictions.  Coupled with the continuing low interest rates available, it's a fantastic time to get your piece of the pie.

Sellers are experiencing success in the Coronado marketplace as well.  Remember to work with your real estate agent to price your home competitively so it sells in a timely manner.  Make sure they run comps in the area to help you decide on the right sales price for your home.  Getting a home inspection can help you fix your home's trouble areas before you place it on the market.  This can help keep your sales price up as well.

If you need help buying or selling a San Diego/Coronado home, please don't hesitate to contact me.  I've helped more than 1,000 individuals and military families find their perfect home for almost three decades now.  Let me help you today.

Mark Levenson, Helping You Buy and Sell Homes, Condos and Investment Property
“Building Dreams One Client At  A Time”
Over 1,000 Clients Served Since 1981

Is there a ‘best’ or ‘right’ time to purchase your new VA Zero Down Payment San Diego home?  Right now is probably the best time to purchase a home using your VA eligibility for many reasons.  Here are a few of them:

1. Interest rates are at record lows and are hovering around 3.8 - 4.25 % fixed for 30 years. This is something we haven’t seen in many decades.
2. Prices have adjusted and have actually come down over the past 5-6 years.  This has been due to over extended loan financing and foreclosures.
3. Purchasing power is strong due to these first two points.  Since there is no down payment using VA financing, it is the monthly payment that is actually being purchased. 
4. Because of these factors, a typical San Diego military family can now purchase a beautiful 3 or 4 bedroom home or condo in a very nice single-family, ‘pride of ownership’ neighborhood.  This has been unheard of in a city of such high demand as San Diego.  Take advantage of this once in a lifetime opportunity!
5. Finally, buying at the bottom of the market allows for the home purchaser to experience a substantial increase in property value – especially if you hold onto to it for 5-10 years or longer.

If you would like to know more about your options for owning a great San Diego home, please contact me today.  Take charge now.  Do it while the rates are still at 60 year historic low rates.  There is no better time than now.  I help military with marginal credit and give FREE counseling advice.  Call Mark Levenson today for a FREE 1 hour consultation so we can get you and your family started on the road to your new home.  You’ll be glad you did.

Mark Levenson, Helping You Buy and Sell Homes, Condos and Investment Property
“Building Dreams One Client At A Time.”
Over 1,000 Clients Served Since 1981
Buy for No Money Down and No Closing Costs!