San Diego Real Estate Market Update - 2015 Recap and 2016 Forecast

Happy Holidays! Big news as Fed raises rates this week. 2015 price and inventory trends continue.
Temecula, CA 92592
Area: 1750
Spring Valley, CA 91977
Area: 1874
Cardiff by the Sea, CA 92007
Area: 1258
SANTEE, CA 92071
Area: 1320
EL CAJON, CA 92020
Area: 0
San Diego, CA 92104
Area: 0
San Diego, CA 92130
Area: 2007
Carlsbad, CA 92008
Area: 0

Hi everybody, John Collins, San Diego Realtor. Brining you the December market update, but really a look at , San Diego's realestate market as a whole, and then looking forward to , what we might expect. I'll also be talking about the big news, which was just yesterday the Fed, after close to a decade, just raised the interest rate for the first time in that length of time. And, what that means for buyers and sellers, we'll talk a little bit about that.

Now, has been a good year, and looking forward, is probably going to be a pretty good year as well. Values from January tonow, across San Diego County, the median price is up close to eight percent. So that's great, obviously. Now, inventory on the other hand is low, it has been low. We saw the typical increase during the busy moths of the summer but it's always been lower than normal and right now it's down about twelve percent from where it was at the beginning of the year. So that's going to continue to keep demand high, obviously, and prices, that's an upward pressure on price.

Some of the indicators going forward are good. New construction is up, largely multi-family homes, which is going to be really the future trend for homes in San Diego. But all this is good. The Fed rate increase, what they said is that they are going to now increase the interest rate from basically zero, where it's been for a long time, they're going to increase it a quarter to half a percent. Now, while that doesn't directly relate to the mortgage rate, how much it's going to go up, it's not a one for one increase, but that is an upward pressure on the mortgage rate so we'll see
how those start creeping up. Now, it's not a big increase and it's not going to create a huge difference right away, but this is a strong indicator that things are going to continue to go up over time. We've been at just crazy low rates for so long. People are used to three and a half or four percent, and really, historically, that is just so low. On a year average, seven or eight percent really is closer to the norm. And, so, while we won't be seeing that anytime
soon, I'm happy to say, it is reasonble to expect a couple of percent over the next year or two years, it's not crazy to think. That really does eat into the buying power of buyers and it creates a smaller segment of people for sellers who can afford their home, so this is an important thing to pay attention to going into .

That said, growth is anticipated to continue through . As a state, they are looking at three to four percent. Probably, that's what they're predicting. But, real estate is a cyclical thing, so it will not keep going up forever. The good news is that with this relatively slow and steady growth over time we can expect the adjustments to be a lot more palletable than what we saw in the Great Recession, which was obviously a great catastrophe.

Now, San Diego itself is a great market to be involved in. It was just identified by as the third hottest market in the country. Now that's based on activity and values and where they expect that to go. They're very bullish on this market for the coming year. So, that's great news.

I hope this is information that is useful to you and gives you confidence in the coming year. I know in this day and age it's hard to know what's going to happen next and the good news is that things are looking great for San Diego Real Estate in the coming year. If there are questions I can answer for you, please don't hesitate to reach out to me. Let me know. I really welcome the opportunity to help. In the mean time, I hope you have a great day, Happy Holidays, Happy New Year. Enjoy this time and this gorgeous city we live in, America's Finest City, and I'll look forward to talking to you soon. Take care.

2626 Colibri Lane La Costa Carlsbad

Categories:Carlsbad, Virtual Tour, For SaleAuthor:Date:2020-09-17
5 bed 3 bath Home for Sale in La Costa, Carlsbad! Short drive to the beach, Lake San Marcos, and Carlsbad Village. Includes 3D tour!

4054 Nobel 101 La Jolla Village Park

Categories:Virtual Tour, Income Property, For Sale, Real Estate InvestmentAuthor:Date:2020-08-19
One bed and one bath in the heart of UTC. Completely turnkey and nicely updated. Extremely walkable neighborhood and a short drive to La Jolla Shores Beach, The Village, or UCSD.

10203 Kerrigan St

Categories:Virtual Tour, For Sale, Real Estate Investment, Market Update, VideoAuthor:Date:2020-02-14

1755 Red Barn Rd Encinitas 92024

Categories:Encinitas, For Sale, Income Property, Real Estate InvestmentAuthor:Date:2019-11-05
Village Park Encinitas townhome, updated and ready for move in. Come enjoy North County San Diego coastal living!

8375 Suntree Pl San Diego 92119

Categories:Real Estate Investment, For Sale, Income Property, Open HouseAuthor:Date:2019-09-03
8375 Suntree Place, San Carlos: Amazing value in a twinhome that lives like a detached home. Park-quiet street and well chosen upgrades mean this San Diego home for sale will not last long!

477 Chardonnay Ct San Marcos 92069

Categories:Open House, Income Property, For SaleAuthor:Date:2019-07-03
Located in the Vineyard Hills section of north San Marcos, this cul-de-sac home is beautiful and completely move-in ready! 18 foot ceilings, tile, and crown molding wow you as you enter this property that is sure to go fast!

2680 Worden St 68 Point Loma

Welcome to Point Loma Tennis Club. Sporting club-like amenities and open areas, located minutes from the sand, parks and rec areas, nature hiking, shopping, and freeway access, it's hard to imagine a better location at such a competitive price point!

2640 Worden St 205 92110

Categories:Income Property, For Sale, Real Estate Investment, Point Loma, Ocean Beach, Virtual TourAuthor:Date:2018-10-05
Located in the ideally located Point Loma Tennis Club, this property is exeptional in many ways.  Go from your doorstep to having your feet on OB pier in less than 10 minutes for under $400,000!  Upgraded and lovingly cared for owner occupants, this opportunity will not be available long.

5206 Soledad Rd 92109

Tremendous opportunity to own in one of the most sought-after and seldom available neighborhoods in Pacific Beach! Across from Kate Sessions Park trails, just a stone's throw from the park's entrance, and at the access to the elite Los Altos loop. Offered by Beach Realty San Diego, Brokered by Big Block.

15554 Paymogo St San Diego 92129

Categories:Virtual Tour, For SaleAuthor:John CollinsDate:2017-11-03
Truly turnkey Rancho Penasquitos property in the Rolling Hills neighborhood. Fully remodeled interior. close to Poway School District Elementary School, Park, and Trails. Quiet Street with no through traffic! Offered by Beach Realty San Diego brokered by Big Block Realty

4977 Lamia Way Oceanside 92056

Categories:Video, Virtual Tour, Real Estate Investment, Buying a Home, For Sale, Market UpdateAuthor:John CollinsDate:2017-08-15

1205 Pacific Hwy #2704 Video Tour

Video Tour or 27th Floor Condo in The Grande North, Downtown San Diego. Columbia District.

San Diego Real Estate - 2015 Recap and 2016 Forecast

Categories:Income Property, Selling a Home, Real Estate Investment, Loans and Mortgage, Video, Buying a HomeAuthor:Date:2015-12-17
Another year behind us! San Diego real estate market recap for 2015 as well as a look toward 2016. Fed increases rate for first time in nearly a decade! We talk about what that means for your San Diego real estate plans.

San Diego Real Estate Market Update, November 2015

Categories:Real Estate Investment, Real Estate Tips, Selling a Home, Market Update, Buying a HomeAuthor:Date:2015-11-19
Residential real estate snapshot for San Diego values, inventory, interest rates, and trends. VIDEO

What is Mello-Roos?

Categories:Video, Real Estate Investment, Property Taxes, Buying a HomeAuthor:Date:2015-10-08
Find out what Mello-Roos districts (CFD's) are and how they can add to your California property tax obligation.

Open House - Sunset Cliffs - Oct 4 0215

Categories:Video, Point Loma, Sunset Cliffs, Ocean Beach, Open HouseAuthor:Date:2015-10-01
Please come see this wonderful piece real estate overlooking Sunset Cliffs. Open Sunday, October 4th, 1pm to 4pm. This is a 3 bedroom 2 and a half bath, nearly two thousand square foot single level home with detached garage, quiet back yard and sit down ocean views from the living room!

School's Effect on San Diego Real Estate Value

Categories:Ocean Beach, Mission Beach, Video, Downtown, Pacific Beach, Appraisal, Bankers Hill, South Park, Real Estate Tips, Hillcrest, Bay Ho, Bay Park, North Park, Selling a Home, Golden Hill, La Jolla, Little Italy, Buying a Home, Clairemont, Mission Hills, Point LomaAuthor:John CollinsDate:2015-09-09
Families want to live close to good schools, but living too close can have unintended consequences on the value of your San Diego Real Estate. A new study from the USD Burnham-Moores Center for real estate quantifies the effect on value. VIDEO.

Quieter Homes Program for San Diego Home Owners

Categories:Golden Hill, Real Estate Tips, South Park, Selling a Home, Buying a Home, Video, Ocean Beach, Point LomaAuthor:John CollinsDate:2015-08-26
What is the Quieter Homes Program and what does it mean for San Diego real estate owners? This brief video describes the program overall, general requirements, and answers some frequently asked questions about the program.

Pacific Beach, San Diego Real Estate: Buying, Selling, and Investing

Categories:Real Estate Investment, Selling a Home, Loans and Mortgage, Pacific Beach, Video, Buying a Home, Income PropertyAuthor:John CollinsDate:2015-07-31
Each San Diego neighborhood is different. What do you need to know when buying, selling, or investing in real estate in Pacific Beach? This video will highlight some things that will be helpful when transacting real estate in Pacific Beach.

Tips for Decorating your San Diego Home

Categories:Real Estate Tips, Point Loma, Selling a Home, North Park, Mission Hills, Home Decorating, Pacific BeachAuthor:John CollinsDate:2015-07-28
Whether you are decorating for yourself, or staging a home for maximum impact and profit, these helpful pointers for both timeless and on trend options for decorating can help you choose the artistic direction for your San Diego Home.

Questions to Ask Your San Diego Home Inspector

Categories:Real Estate Tips, Appraisal, Inspections, Buying a HomeAuthor:John CollinsDate:2015-07-17
The home inspection is a critical part of the home buying process. Here are some questions to ask to make sure you are working with the right inspector!

The Mills Act regarding San Diego Real Estate

Categories:Mission Hills, Video, Property Taxes, Real Estate Tips, Pacific Beach, South Park, Golden Hill, North Park, Point LomaAuthor:John CollinsDate:2015-07-16
What is the Mills Act and what does it mean for San Diego real estate owners? This brief video will describe the history, tax benefits, and some of the requirements for participacing in the Mills Act in San Diego.

Financing a Second Home in San Diego

Categories:Real Estate Tips, Buying a Home, Mission Beach, Loans and Mortgage, Pacific BeachAuthor:John CollinsDate:2015-07-14
Tips for meeting the stricter requirements often demanded by lenders when applying for a mortgage on a second San Diego property.

Preparing Your San Diego Home for Sale

Categories:Real Estate Tips, Video, Selling a HomeAuthor:John CollinsDate:2015-07-09
Resource video for preparing your home for sale with checklist and tips on what to do and where to invest your improvement dollars. Includes downloadable checklist.

Building in Litigation

Categories:Video, Loans and Mortgage, Real Estate TipsAuthor:John CollinsDate:2015-05-26
What you need to know when buying a property when there is litigation in the building involving other owners or the HOA.

Appraisal Lower Than Offer

Categories:Appraisal, Inspections, Video, Real Estate TipsAuthor:John CollinsDate:2015-05-18
What you need to know as a buyer or seller when the appraisal comes back lower than the agreed upon price for a property.