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San Diego Market Report- Detached Homes

  DEC 10 DEC 09 % Change
Median Sales Price $375,000 $385,000 -2.6%
# Of Sold Listings 1,716 1,856 -7.5%
Interest Rate (30yr) 4.86% 5.05% -3.7%
CA 1st Time Buyer Affordability 66% 69% -4.3%
Avg. Days Market 75 71 +5.3%

Real Estate Market Update

Search Every Home For Sale In San Diego:

www.realestatenoah.com


Welcome 2011!

First off, a BIG THANK YOU to all my clients in 2010 and to those that referred me business this past year. It was my most successful year yet and I owe that entirely to my past clients and those individuals that referred their friends/family/colleagues when someone had a question about real estate.

So what is in store for 2011?

Here are 5 predictions in the marketplace:

1) Interest rates have bottomed & will rise in 2011
(CLICK HERE for this article in the New York Times)

2) National housing prices will remain steady overall
(CLICK HERE to read more from this article on CNN)

3) CA home price predictions for 2011 & beyond
(CLICK HERE to read more on this LA Times article)

4) The San Diego rental market will remain strong- unlike other markets in Phoenix, Las Vegas & Orlando
(CLICK HERE for more info on the SD rental market)

5) Elimination of mortgage interest tax deduction
(CLICK HERE to read more about the potential limitation on this deduction from an LA times article)

NOAH'S Predictions for 2011:

(Don't hold me to it...If my magic crystal ball really worked, I would be retired by now!)

-INTEREST RATES END THE YEAR ABOVE 5.75%

-DETACHED MEDIAN HOME PRICE IN SD COUNTY END THE YEAR + OR - 2%

-MORTGAGE INTEREST DEDUCTION REMAINS INTACT

-NO NEW TAX CREDITS/INCENTIVE PROGRAMS FOR BUYERS

Deals Of The Month- San Diego!
  • Downtown San Diego- Gaslamp 92101!
  • 575 6th Avenue, Alta Complex
  • Listed at $285,000!
  • Normal Sale- not bank owned or short sale!
  • 1BR/1BA, 679 sq. ft. Built in 2007!
  • Monthly HOA's are at $456.
  • Building features gym, pool, & spa!
  • 1 parking spot- secure, covered garage.
  • Click here to map this property
  • Rents range from $1,700 to $1,900 for this size unit and this floor level.
  • One of my favorite buildings downtown- a high end finish and feel but without the $800/month HOA's. Great location close to heart of 5th Ave and Gaslamp, walkable to PetCo Park and a Long's on the street level.
  • San Diego State, College Area!
  • 6228 Stewart St, 92115!
  • Short sale listed at $340,000!
  • 5BR/2BA, 2,162 sq ft. Built in 1952
  • Good location, walk to campus!
  • Current bedroom rents per bedroom around SDSU are $500/month
  • Click here to map this property
  • Purchased for $512k at the height of the market in the summer of 2006, the property is now headed towards foreclosure. Great cash flow examples near SDSU- more so than USD and UCSD. Email me for some samples.
  • Click Here For An Investment Property Analysis in Excel
   
  • View lot in Ocean Beach!
  • End of Del Monte Ave in 92107
  • Listed at $199,000 since Nov 2010.
  • Lot dimensions are 37x140 ft.
  • Cul-de-sac location
  • Million dollar homes in the area...map it:
  • Click here to map this property
  • There are not very many vacant lots left in Ocean Beach, Pt Loma, Mission Beach and Pacific Beach. A chance to build a custom home in the beach area. Priced well but view issues with the property above would need to be explored.
  • Multi Unit- Pacific Beach, 92109!
  • 4259 Everts St.
  • Sold for $725,000 last month!
  • 4 units, potential for 7 bedrooms total!
  • Great rental location in PB!
  • Was a bank owned and sold for $9k over list price- which isn't that uncommon with REO's.
  • Huge cash flow potential!
  • Click here to map this property
  • This is going to be a great investment property but due to the condition, density of tenants and size, you are only going to get college students or younger renters. This would be a lot of work to manage on your own but the upside with potential rents around $5,500 off sets some of the hardships.
   
The World Cruise Ship- Floating Real Estate
The World!

 

Ever thought about where you want to retire? Probably somewhere with good weather, maybe even outside the US or near a major metropolitan city of the world?

With The World Cruise Ship you can enjoy all these destinations as your floating retirement home visits all these ports of call.

Just like any other cruise ship this vessel features: dining, entertainment, spa, fitness, golf, excursions, movie theatre, shopping, etc.

There are 165 residential units on board and some sample prices include:

Ocean Studio (328 sq ft) $600,000

Ocean Residence (2BR,2BA) $2,950,000

Penthouse Style Units for $13,000,000

HOA Dues start around $20,000 per month to cover fuel, crew, maintenance and meals.

Unsold units rent from $1,300-$4,750 per night based on two-person occupancy. Included in this rate are dining, select beverages, port charges and gratuities.

Click here to see a map of the 2011 itinerary. The ship is currently in Australia and headed towards Southeast Asia, the Persian Gulf, Europe, Iceland, Greenland, the East Coast of America and then concluding the year along the East Coast of South America and Antarctica.

 
Monthly Trivia- Super Bowl
Monthly Prize!

Super Bowl is Sunday February 6th in Texas! I need your prediction on the winning team and total points scored. Due by next Wednesday January 19th.

EVERYBODY RECEIVING THIS NEWSLETTER IS ELIGIBLE TO PARTICIPATE!

Email me your answers by Wednesday January 19th.

PRIZE: Your choice of any NFL Team Jersey with customized name!


Last newsletter was the yearly word riddle quiz & I had 4 winners!

Congratulations to:

Megan Adamson
Jon Jameson
Michael Benninger
Jeremy Feuz

who all won a $50 Trader Joe's Gift Card for the 4-way tie!

 

YouTube Clip of The Month -Damien Walters
YouTube Clip of the Month This is where I like to take a little break from the real estate and show you something interesting or new...check out this video for a change of pace.

 

Calendar of Events
Upcoming Events:

Martin Luther King, Jr Day
Monday January 17th
Location: Downtown Parade on Saturday the 15th
Info: www.alpha-zsl.org

Restaurant Week
Sunday January 16th to Friday January 21st
Location: San Diego County
Info: www.sandiegorestaurantweek.com

Carlsbad Marathon & Half Marathon
Sunday January 23rd
Locations: Westfield Plaza- Carlsbad
Info: www.carlsbadmarathon.com

PGA Tour Golf Tournament
Monday January 24th to Sunday January 30th
Locations: Torrey Pines Golf Course
Info: www.farmersinsuranceopen.com

San Diego Pet Expo
Friday January 28th to Sunday January 30th
Location: Del Mar Fairgrounds
Info: www.sandiegopetexpo.net

SD Mag's 50 People to Watch Party
Friday January 28th
Locations: Flux Nightclub Downtown
Info: www.sandiegomagazine.com