Home Sales Report | October 2014

October’s edition of The Home Sales Report for La Jolla is out!

Highlight from this report: Cash sales are the national trend.

Over the past year cash sales have accounted for 49% of all sales in La Jolla. According to the National Association of Realtors, it’s not just wealthier buyers bringing all cash offers to the table; more and more first-time home buyers are taking private loans from family members to avoid the conventional loan route.

To read the full report, follow the link below:

La Jolla Home Sales Report – October 2014 Edition

Advertisements

Is the San Diego Area Growing or Declining?

     I have seen the San Diego area continue to grow. It is expanding almost upwards north as far as it can go and outwards east as far as it can. There is not an abundance of vacant property now to be developed, although, Scripps Ranch is a great area that is growing. The city is moving east toward Santee and those areas are highly desirable, with more custom homes. The San Diego market area is growing and hopefully we can continue to see jobs increase and sustain this growth. I think we are currently in a very healthy market, however, in 2005 (the “boom”) it was $0 down and 100% financing where one could get in their home then refinance to a regular loan rather than an interest only loan. Now, on the flip-side in 2014, we’re in such a healthy market where you can put money down, (typically) get in with equity, and many appraisals are coming in over purchase price which is a very good sign. In San Diego as a whole, there are lots of sales and the sale volume is there. In addition, the prices are creeping upward. Not at such a vertical rate, which I’ve seen in the past, it’s more of a steady climb. In the upper end properties we’re seeing bigger sales, waterfront sales, $16 million sales, $24M sales – even in La Jolla, Del Mar and oceanfront properties. That market range is usually the last to fall, so when those properties start selling and those prices are attained, that’s a very good sign for everyone in the lower price ranges. With that being said, I believe our market is strong and will continue to thrive.

San Diego Real Estate Market Showing Growth in 2014

Contact me today to learn more about what your property is worth
or to find out what homes are for sale in your area!

Vincent Crudo
858-518-1236 (Call or Text)
Vincent@VincentCrudo.Com
http://www.SDLuxe.com