San Diego Market Report- Detached Homes

	JAN 10	JAN 09	% Change
Median Sales Price	$364,000	$327,000	+11.31%
# Of Sold Listings	1,162	1,369	-17.81%
Interest Rate (30 yr)	4.95%	5.03%	-1.61%
SD 1st Time Buyer Affordability	57%	57%	+0%
Avg. Days Market	71	73	-2.81%

Real Estate Market Update

Attention: New Website!

Click here to check it out! www.realestatenoah.com

I spent some big bucks to get the best possible IDX map based searching program available...what does that mean to you?

Go to my website, click on the Map of San Diego and check out how easy it is to search for active homes for sale. It's easy to use, includes everything on our MLS and is very user friendly.

Feedback is appreciated!

Bank Owned- Pacific Beach, 92109! 1049 Felspar St #5 Listed at $154,900! Studio built in 1986 but converted around 2005. 4 blocks to the ocean, 1 block to Garnet! Last Sold in 2007 for $280,000! Rents over $1,000 per month are possible! Click here for mapped location of home 38 days on the market and counting...banks don't like to hold these properties. They are ready for an agressive offer! Great location- would make a great rental with low HOA dues at $188/month!	Lowest price 2BR west of Camino Del Mar! 519 Stratford Ct. Del Mar, CA 92014!! Asking $369,000! 2BR/1BA, 812 sq ft. Built in 1961. Great location with short walk to ocean. Monthly HOA dues of $271. In unit laundry, ocean views from the front door. Click here for mapped location of home Corporate owned...similar to a bank owned foreclosure. Great location in Del Mar- one of San Diego's best communities. Walk to ocean, bars, restaurants, etc! A great 2nd home or starter purchase.

Normal sale- no banks! 530K St- 1 block off 5th Ave! Downtown San Diego, 92101 Asking $365,000! 2BR/2BA, 937 sq ft. 7th Floor. Complex: Trellis Click here for mapped location of home This is prime time downtown living...that is the Marriott hotel in the background and Petco is next door to that! Built in 2004 and $500/month in HOA dues.	Investment Opportunity in Pacific Beach! Foreclosed- 6 units for $1,395,000!! 911 Missouri St- 2 blocks to the ocean. Originally built in 1969 but recently updated! Two 2 bedrooms & four 1 bedrooms. Click here for mapped location of home Purchased in 2006 for $2,424,000. Investor updated everything, sold two units for $510k & $400k but couldn't sell the rest before foreclosure. Buy the other 6 units- rent them or sell them...I made an offer on a 1 bedroom for a buyer in 2008- they are nice units with a great location! Hurry...I don't think these will last!

Interest Rates

Mortgage rates have been artifically low over the past year or more. Rates have stayed down because the government had a program in place to buy mortgage backed securities. This program is scheduled to end on March 31st and many experts feel a rise in rates will follow.

Tax Credit

As we approach the April 30th deadline to be under contract on a home, there isn't as much chatter about an extension as last time around. $8,000 on the table right now for 1st Time Home Buyers...

FHA Loans

A very common loan on the market right now because it only requires a 3.5% downpayment. But the HUD is increasing the upfront mortgage insurance premium to 2.25% (a .50% increase) on April 5th.

Cost of Waiting?

On a $400,000 mortgage, a 1% increase in interest rates could increase your monthly payment by about $250/month or $21,000 over a 7 year period. Most buyers aren't in their home/mortgage longer than 7 years so that is the reason this timeline is used and not the typical 30 year life of a loan.

Bottom line is you need to buy only when you are ready and comfortable. However, there are some good incentives in play right now and some of these won't be around much longer.

College Baskeball March Madness!

Email me your winning team for the tournament and the total score for a tie-break for your chance to win a $100 Trader Joe's Gift Card!

Finals are April 5th but your pick is due by the 24th of March...you get to see two rounds of action before you make your pick!

EVERYBODY RECEIVING THIS NEWSLETTER IS ELIGIBLE TO PARTICIPATE!

Email me your NCAA winning team and total points scored in that final game by 3/24/10.

Congratulations to last newsletter winner of the $100 Visa giftcard with the only person to have 4 correct College Bowl Games: David Stevenson

Joke of the Month:

A real estate salesman had just closed his first deal, only to discover that the piece of land he had sold was completely under water.

"That customer's going to come back here pretty mad," he said to his boss. "Should I give him his money back?"

"Money back?" roared the boss. "What kind of salesman are you? Get out there and sell him a houseboat."

As the winter season comes to a close, be sure to put this on everybody's wish list for next year! Something tells me even the kids would help out with snow removal duties if you had this toy!

Upcoming Events:

St. Patrick's Day
March 17th
Locations: Downtown Gaslamp!
Info: www.gaslamp.org

Cesar Chavez Day
March 31st
Locations: Parade/March on March 27th!
Info: www.activistsandiego.org

Kia Classic LPGA Golf at La Costa
Women's Golf Tour comes to San Diego
March 22nd to March 28th.
Info: www.lpga.com

KOOZA by Cirque du Soleil
Ends 3/28/10
Location: Del Mar Fairgrounds
Info: www.cirquedusoleil.com

San Diego Padres Opening Day
Monday April 12th at 3:35pm
Location: Petco Park
Info: www.padres.com

SeaWorld's Spring Into Night
3/27/2010 to 4/25/2010- Park open til 9pm!
Location: SeaWorld
Info: www.seaworldsandiego.com

Click this image below to see a breakdown of San Diego County home price changes by ZIP code: San Diego County Price Change Map

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December 2009
May 2009
March 2009
January 2009
December 2008
November 2008
September 2008
July 2008
June 2008
April 2008
March 2008

noahgrassi@remax.net | Re/Max Coastal Properties | (858) 353-0497

Information deemed reliable but not guaranteed. Properties may be listings from other agents in San Diego.
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