2013 San Diego Real Estate Forecast

 2013 San Diego Real Estate Forecast

This video is the second of two videos on my personal 2013 outlook for the San Diego real estate market. In this video I note the negative trends in the San Diego California real estate market in 2013.

If it's opinion and facts about the San Diego residential real estate market that you enjoy reading, be sure to get a free subscription to our blog so you can stay up-to-date with the San Diego housing market. You can get a free subscription to Bob's blog at:
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 2013 outlook for the San Diego real estate

San Diego California Real Estate 2011

San Diego Home Forecast 2011 - Opinion on the 2011 San Diego real estate outlook. Why San Diego home short sales, foreclosures will still have an impact on the San Diego homes for sale market in 2011. brokerforyou.com Bob Schwartz is a San Diego real estate broker with 30+ years experience. If you own a San Diego home or are planning purchasing San Diego real estate Bob's San Diego 2011 real estate outlook is a must read. View the full post at:
San Diego housing outlook

You can also search San Diego homes for sale (San Diego MLS) at: San Diego homes for sale
California real estate license #00706331

Stimulus Package ready for President

Stimulus Package on Way To Present

The Senate passed their version of an economic stimulus package today, Thursday, February 07, 2008. The Senate version expands rebate checks for seniors and disabled veterans and includes the same increases to the conforming loan limits for both GSE and FHA found in the House stimulus package. The House just passed the Senate version of the bill and it will now be sent to the White House. The President is expected to sign the legislation by the end of next week, ahead of the Congressional self-appointed deadline of February 15^th. The increase in the conforming loan limits will last through 2008, but C.A.R. and NAR continue to lobby for FHA and GSE reform, making these increases permanent.

The U.S. House of Representatives passed a stimulus package last week that raised the FHA and conforming loan limits to as high as $729,750 in high-cost areas. By increasing the loan limits, borrowers will see immediate relief with new liquidity in the mortgage market and the nation will see an additional 300,000 home sales. Research shows that an increase in the FHA limit would enable an additional 138,000 Americans to purchase homes, and 200,000 families to refinance their homes safely and affordably.

Increasing the FHA loan limits is critical to bolstering California’s housing market. Current law restricts FHA loans to levels well below the median home price in many areas of the country and caps loans in high cost states at $363,790. These limits are preventing many homebuyers from using FHA to purchase or refinance their loan. The proposed provision will increase FHA loan limits nationwide by raising the floor to $271,050 and the limit to 125% of local median home prices.

Additionally, raising Fannie Mae and Freddie Mac’s (GSEs) conforming loan limit will provide immediate relief to borrowers and alleviate downward pressure on current housing markets. For instance, increasing the GSE loan limit could result in more than 300,000 additional home sales and strengthen current home prices by 2-3%.

The critical role that GSEs play in providing liquidity to the mortgage market has never been more evident than it is today. The national subprime meltdown has had a dramatic impact on both the cost and availability of mortgages in many markets. Since August 2007, the interest rates for jumbo borrowers have been more than 1 percentage point higher than conforming loans, which can cost homeowners up to $400 month in higher interest payments. San Diego California real estate

N.J. housing is priciest Median costs highest in nation

After a six-year run-up in housing prices, many households in New Jersey are staggering under heavy monthly shelter costs, the U.S. Census Bureau reported today. Among mortgage holders, New Jerseyans in 2005 paid the highest median housing costs in the nation $1,938 a month, including mortgage payments, property taxes, home insurance, condo fees and utilities.
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BUILDER CONFIDENCE DECLINES TO LOWEST LEVEL SINCE FEBRUARY 1991

The confidence level of the nation's home builders declined for the eighth consecutive month in September, a reflection of increased sales cancellations and rising inventories of unsold homes, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). The seasonally adjusted HMI stands at 30 this month, down three points from August and down 35 points from a year ago. In the West, the HMI has steadily declined since April and now stands at 38. An HMI below 50 indicates more builders view sales conditions as poor versus good. Newer sites: San Diego hotels - San Diego lasik

National Realtors Assoc. - Home Prices to Fall!

September 18, 2006—Housing prices are expected to continue to have a limited fall throughout 2006, according to testimony submitted by the National Association of Realtors at today’s Senate Banking Committee.
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Housing Starts Drop 5.3 Percent in June

Housing Starts Drop 5.3 Percent in June
(Washington - July 19, 2006) - Total housing starts dropped 5.3 percent in June to a seasonally adjusted annual rate of 1.850 million units, according to figures released by the Commerce Department today. This was 11.0 percent below the pace of a year ago.
Single-family housing starts were down 6.5 percent for the month to a pace of 1.486 million units, a 13.8 percent drop from the June 2005 pace. Multifamily housing construction was up 0.3 percent for the month to a seasonally adjusted pace of 364,000 units.
'NAHB's surveys of single-family builders have been showing a steady decline in confidence since the middle of last year, and builders are acting accordingly. They are slowing their production as market conditions and demand cool down,' said David Pressly, president of the National Association of Home Builders (NAHB) and a home builder from Statesville, N.C. "

Home prices could start falling

USATODAY.com - Home prices could start falling: "Home prices could start falling

By Noelle Knox, USA TODAY
For the first time in more than a decade, home prices could start to fall around the country in coming months, the National Association of Realtors said Tuesday after a report showed that sales of existing homes fell in June and the number of homes for sale soared to their highest point since 1997.

Condo prices are already being hit: They fell 2.1% from June last year to a median $226,900 (median means half cost less and half cost more). Prices of single-family homes edged up 1.1% in June to $231,500. With a 6.8-month supply of single-family homes on the market and an eight-month supply of condos, sellers are under more pressure to cut prices, and buyers can be choosy.

David Lereah, NAR's chief economist, said he expects 'price numbers to start deteriorating,' though he still projects home prices will be up 5.3% for the year. "

Global property cycle's peaked, Morgan Stanley says - MarketWatch

Global property cycle's peaked, Morgan Stanley says - MarketWatch: "Growing evidence of real-estate 'bust'
Fallout for consumers and corporate profits, eonomist says
E-mail | Print | | Disable live quotes By Chris Oliver, MarketWatch
Last Update: 6:47 AM ET Jun 29, 2006


HONG KONG (MarketWatch) -- Evidence is mounting that the global property cycle is turning down, as rising interest rates and heightened inflationary pressures combine to put the brakes on demand for real estate, according to a Morgan Stanley report.
The shift ushers in an end to what's been a six-year rally during which the twin forces of globalization and financial innovation fed an upturn in the property cycle that became a worldwide phenomenon, said economist Andy Xie, in an Asia Pacific strategy report released Thursday.
'Due to deflation shocks, global inflation has been low, which allowed major central banks to keep interest rates very low, in turn fueling property,' Xie said. 'As inflation picks up simultaneously around the world, interest rates are rising everywhere, and the property boom is turning into a bust.' "