Gary Keller’s Mid-Year Market Update

Home prices are on the Upswing. The annual pace of home sales in July was 17.2 percent higher than it was last year, putting the industry on pace for the best year in home sales since 2006.

The monthly median home price in July was $213,500 up 25.1 percent from January to July 2013. For 2013, the average median price YTD for 2013 was $198K. Though home prices have been increasing year-over-year for 17 consecutive months, that number still sits below the long-term 4 percent trend line.

Translation? There is still time to recover. Distressed properties are also impacting the uptick in home prices, namely the absence of them.

David Demangos
 858.232.8410 
www.DemangosHomes.com
San Diego Real Estate Expert
Our Team goes to Extremes to Fulfill your Real Estate Dream

 

4 Ways to Minimize Buyer Surprise

When people say they dislike surprises, it’s a little bit like when someone says they don’t like change. Most people actually appreciate change and surprises – so long as the changes are pleasant or they perceive the surprises to be in their favor. It’s really only unpleasant surprises that agitate, irritate and frustrate the average person.

I've found there is actually a pretty short list of unpleasant surprises which threaten to sour your home buying experience. If you can take a core set of actions to minimize the likelihood of this short list occuring, you’ll protect yourself against 90% of the unpleasant surprises and set your home buying experience up for success. Here are a few of those key surprise-prevention tactics that can take your fear of the unknown.

1. Read everything. It sounds basic to advise a home buyer to read their paperwork. It sounds basic, that is, until you’re in the midst of the process and are presented with literally hundreds of pages of documents to sign, sometimes over and over, and sometimes with a high sense of urgency. For example, if you are in a hot market, you might have to make offers on 5 or more homes before you get one that works for you. After the first few, it’s tempting to just start clicking away to sign the offer documents you’ve seen so many times before, without really reading the critical fine print before you send it back to your agent.

While it is socially uncomfortable to feel like people are sitting across the table waiting for you to read things before you sign them, your agent, mortgage broker and escrow officer really and truly do not mind. (And if they do mind, that’s really not your concern – read away anyway.)

Most smart buyers these days know they need a home warranty policy. But without reading what is and isn’t covered, you do yourself a disservice. Many policies offer optional extra coverage for a small fee of items like appliances, pools and air conditioners – which would normally be excluded under a standard policy.

Hot Water is a Hot Issue, Learn About Tankelss Heaters

Hot water is a hot issue these days. Home owners are interested in homes that are energy efficient and economical to operate, which are factors that can be dramatically affected by a home's hot water usage. According to the DOE's Office of Energy Efficiency and Renewable Energy, water heating is the third-largest expense in most homes, accounting for 14% to 25% of a home's expenses. In some cases, that percentage may even be higher, which means energy-conserving hot water solutions also could result in big cost savings for homeowners in this difficult economy.

Currently, the most popular energy-efficient option for water heating is a tankless water heater, also known as an on-demand system. Unlike a traditional tank that heats a reservoir of water 24 hours a day, a tankless unit activates only as needed. When there is a demand for heated water, cold water travels through the tankless unit, where a gas burner quickly heats it to the preset temperature. (around 120 degrees)

According to www.smarterhotwater.com, a Web site launched by Alabama-based Rheem Manufacturing, the average annual operating cost for a conventional storage is between $230 and $285, nearly twice the cost for a tankless system. (Rheem estimates a tankless hot water heater would cost $165 to $170 annually to operate.)

Given those numbers, the decision to go tankless seems a simple equation; tankless water heaters have proved popular in Europe and Asia. But like many other construction technologies, tankless water heater usage in the United States lags behind the rest of the world.

Cost could be a factor for the low penetration in the U.S. market--tankless heaters cost significantly more than a conventional system. But it also could be a matter of educating the American market about the product. In recent years, manufacturers say awareness has grown significantly, and so has usage, which has seen double-digit increases. The driving force? Consumers. They are mainly the ones driving this demand for tankless water heaters more than builders.

While tankless technology can reduce a home's energy costs by as much as 25% annually compared to a standard 40-gallon tank heater, there are other considerations. Standard storage tanks now qualify for Energy Star certification. And tankless systems may have other issues that negate its energy performance and lower operating costs.

I had a unit installed in my home six years ago and absolutely love it. Check out http://www.ArnettsPlumbing.com for a great installer here in San Diego. If you live outside San Diego, call me and I will refer you to a great installer in your area.

David Demangos
Keller Williams Realty
Realtor® BRE# 01905183

Website: www.DemangosHomes.com
Our Team goes to Extremes to Fulfill your Real Estate Dreams!

Home prices are on the Upswing. The annual pace of home sales in July was 17.2 percent higher than it was last year, putting the industry on pace for the best year in home sales since 2006.

The monthly median home price in July was $213,500 up 25.1 percent from January to July 2013. For 2013, the average median price YTD for 2013 was $198K. Though home prices have been increasing year-over-year for 17 consecutive months, that number still sits below the long-term 4 percent trend line.

Translation? There is still time to recover. Distressed properties are also impacting the uptick in home prices, namely the absence of them. For more information, contact:

David Demangos
 858.232.8410 
www.DemangosHomes.com
San Diego Real Estate Expert
Our Team goes to Extremes to Fulfill your Real Estate Dreams! 

Proof There is No Housing Bubble

This infographic says it all. Remember, whether you rent or whether you buy, you pay for the space you occupy. Looking to buy or sell a home in San Diego? Contact:

David Demangos
858.232.8410
www.DemangosHomes.com
San Diego Real Estate Expert
Our Team goes to Extremes to Fulfill your Real Estate Dreams!

Another Home Sold by David Demangos to First Time Home Buyer

Our team helped another 1st time home buyer purchase a turn key home in Mira Mesa. He was tired of "wasting money renting" and decided to buy instead. Remember, whether you rent or whether you buy, you pay for the space you occupy!

For a free consultation to see if now is the time to buy a home contact:

David Demangos
858.232.8410
www.DemangosHomes.com
San Diego Real Estate Expert
Our Team goes to Extremes to Fulfill your Real Estate Dreams!

Why Hire David Demangos to Help Buy or Sell Your Home?

Why Hire David Demangos to Help Buy or Sell Your Home? Simple...watch!

David Demangos
858.232.8410
www.DemangosHomes.com
San Diego Real Estate Expert

Our Team goes to Extremes to Fulfill your Real Estate Dreams!

Ethnic Groups in America and Their Belief in Homeownership

All ethnic groups surveyed are optimistic about the next generation of homeowners. They also believe their children will have a home of their own before the age they did.

Each group views home ownership as a lifelong goal. Results also show that many will have their parents, grandparents, or other extended family members living with them at some point.

To buy or sell a home in San Diego, contact:

David Demangos
858.232.8410
www.DemangosHomes.com
San Diego Real Estate Expert

Our Team goes to Extremes to Fulfill your Real Estate Dreams!

Demangos Homes Relocation Buyer Virtual Tour Video

Part of the way "Our Team goes to Extremes to Fulfill you Real Estate Dreams" is by video recording virtual tours for out of town buyers. This is a live example of how I am assisting a client living in Northern CA, and buying in Southern CA, San Diego.

Who do you know that wants to relocate to San Diego? We are ready to help, just call...

David Demangos
Keller Williams Realty
Realtor® BRE# 01905183

Email: David@DemangosHomes.com
Website: www.DemangosHomes.com

San Diego Real Estate Area Expert / Green Specialist / ALC Committee
Our Team goes to Extremes to Fulfill your Real Estate Dreams

Download The #1 Real Estate Live Home Search App Below!
www.TinyUrl.com/KWLiveApp

P.S. I have lived in San Diego for 43 years and have a vast knowledge of the area. When you hear of anybody looking to buy, sell or invest in Real Estate, please call me with their name and number. Your referrals will be handled with the most professional care in the business.

Aquarium Lovers Check This Out

I found this amazing on two fronts. Studies show that aquariums sooth peoples’ nerves. Studies show that aquariums can lower blood pressure and calm hyper-active children. There are even reports of doctors recommending the purchase for a patient to cope with an illness.

They also add a beautiful look to most homes so if you're selling a home, this can help in the staging, potentially raising the perceived value.

David Demangos
858.232.8410
David@DemangosHomes.com
www.DemangosHomes.com

Our Team goes to Extremes to Fulfill your Real Estate Dreams!

Mortgage Rates Are Climbing? Ready to Buy?

Mortgage rates climbed again after giving borrowers a short reprieve last week. The seesawing is likely to continue at least until the Federal Reserve meets later this month.

The benchmark 30-year fixed-rate mortgage rose to 4.72 percent from 4.62 percent last week, according to the Bankrate.com national survey of large lenders.

Potential homebuyers worry that higher rates and rising home prices will make homeownership unaffordable. Many of those who previously owned a home but lost it to foreclosure or short sale -- because of income reduction or a job loss -- also are trying to beat the clock.

For a free consultation to see if now is the time to buy a home contact:

David Demangos 
858.232.8410
www.DemangosHomes.com 
San Diego Real Estate Expert
Our Team goes to Extremes to Fulfill your Real Estate Dreams