Year-over-Year Change in Home Sales by Price Point

Looking to buy, sell or invest in Real Estate? Contact: David Demangos 858.232.8410 Locally Known, Globally Connected Luxury Home Marketing Specialist Global Property Specialist David@AwesomeSanDiegoRealEstate.com www.AwesomeSanDiegoRealEstate.com Our Team Goes to Extremes to Fulfill Your Real Estate Dreams!

Recycle Your Christmas Tree Free in San Diego, California

Mayor Kevin L. Faulconer is reminding San Diegans that the City will collect and recycle Christmas trees for free over the next few weeks. The program is available at locations in neighborhoods across the city.

“San Diegans, we’re here to help during this holiday season,” Mayor Faulconer said. “Not sure what to do with your Christmas tree? The City will collect your tree and recycle it for you. It’s an easy and convenient way to make sure your tree gets recycled properly.”

The City’s 41st Annual Christmas Tree Recycling Program begins Friday, Dec. 26, and runs through Jan. 23. This year’s program offers 16 locations where residents can go to drop off their tree for recycling. The City also offers curbside pickup of trees for residents who receive curbside yard waste collection from the City.

Mayor Faulconer reminded San Diegans that by recycling trees residents can help reduce the amount of material in the landfill and give holiday trees a second life as compost, mulch or wood chips.

The drop-off locations are in the following neighborhoods:

Think You Should For Sale Buy Owner? Think Again!

Looking to Buy, Sell, or Invest? Contact: David Demangos 858.232.8410 Locally Known, Globally Connected Luxury Home Marketing Specialist Global Property Specialist David@AwesomeSanDiegoRealEstate.com www.AwesomeSanDiegoRealEstate.com Our Team Goes to Extremes to Fulfill Your Real Estate Dreams!

New York Times: Homeownership is Best Way To Build Wealth

The New York Times recently published an editorial entitled, "Homeownership and Wealth Creation.” The housing market has made a strong recovery, not only in sales and prices, but also in the confidence of consumers and experts as an investment. The article explains:

“Homeownership long has been central to Americans’ ability to amass wealth; even with the substantial decline in wealth after the housing bust, the net worth of homeowners over time has significantly outpaced that of renters, who tend as a group to accumulate little if any wealth.”

Many of the points that were made in the article are on track with the research that the Federal Reserve has also conducted in their Survey of Consumers Finances. The study found that the average net worth of a homeowner ($194,500) is 36x greater than that of a renter ($5,400). One reason for this large discrepancy in net worth is the concept of ‘forced savings’ created by having a mortgage payment and was explained by the Times:

Rent Increases Expected to Continue through 2015

CNBC’s Diana Olick recently reported that rents in the residential housing sector continued to rise in 2014. She interviewed Jed Kolko, Chief Economist at Trulia, who revealed:

"Rents are rising because of strong demand that supply hasn't kept up with. Nearly all the new households are renters, and young people moving out of their parents' homes will keep fueling rental demand."

Where are rents headed in 2015?

The question now is where rents will be heading over the next twelve months. In a press release last week, Zillow chief economist Dr. Stan Humphries predicted residential rental prices will continue to climb in 2015:

"Home value appreciation will continue to cool down, from roughly 6 percent now to around 2.5 percent by the end of 2015. But rents will see no such slowdown, and will continue to grow around 3.5 percent annually throughout 2015. As renters' costs keep going up, I expect the allure of fixed mortgage payments and a more stable housing market will entice many more otherwise content renters into the housing market." However, those potential buyers must make a decision quickly because, as Kolko explains:

“Paying more on rent makes it harder for would-be homebuyers to save for a down payment."

Bottom Line

Ryan Severino, a senior economist at Reis, in Olick’s article stated the obvious:

"Landlords should still be able to push asking rent increases on to their tenants."

If you are thinking about buying a home in 2015 instead of continuing to rent, it probably makes sense. 

Looking to buy, sell or invest? Contact:

David Demangos

858.232.8410
Locally Known, Globally Connected
Luxury Home Marketing Specialist
Global Property Specialist

David@AwesomeSanDiegoRealEstate.com
www.AwesomeSanDiegoRealEstate.com
Our Team Goes to Extremes to Fulfill Your Real Estate Dreams!

Top 5 Benefits of Using a Professional to Buy a Home

Every year the National Association of REALTORS releases their Profile Home Buyers and Sellers, in which they reveal the results of a yearlong survey of buyers and sellers. The latest profile revealed what actual buyers saw as the benefits of using an agent during the home buying process. 

Here are the Top 5: 

#1: Helped the Buyer Understand the Process

Whether it is your first time purchasing a home, or you’re an experienced buyer, there are over 230 possible actions that need to happen during every successful real estate transaction. Having someone to guide you through the process who can simply explain what is going on at every step of the way was sited as the top benefit by 63% of all buyers (that number jumped to 83% with first time buyers). 

#2: Pointed Out Unnoticed Features/Faults with the Property

When you start the process of buying a home, you may be too excited to see each potential home for what it is, good and bad. An experienced professional can help you realize the potential hidden gems or risks before you make an offer. Nearly 60% of all buyers listed this as a major benefit of hiring a professional.

#3: Improved the Buyer’s Knowledge of Search Areas

Whether you are looking to relocate to a new state, or just across town, having someone who knows the neighborhoods in which you are looking can be an invaluable asset. 

#4: Negotiated Better Sales Contract Terms/Better Price

In today’s market, hiring a talented negotiator could save you thousands, perhaps tens of thousands of dollars. Each step of the way – from the original offer, to the possible renegotiation of that offer after a home inspection, to the possible cancellation of the deal based on a troubled appraisal – you need someone who can keep the deal together until it closes. 

#5: Provided a better list of service providers

A great agent has relationships with mortgage professionals, home inspectors, appraisers and other experts that you will need in securing your dream home.
Bottom Line

If you are considering purchasing a home, whether as a first-time or move up buyer, sit down with a local experienced real estate professional in your area and see what they have to offer. 

David Demangos

858.232.8410
Locally Known, Globally Connected
Luxury Home Marketing Specialist
Global Property Specialist

David@AwesomeSanDiegoRealEstate.com
www.AwesomeSanDiegoRealEstate.com
Our Team Goes to Extremes to Fulfill Your Real Estate Dreams!

Proof the Real Estate Market is Back

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Looking to buy, sell or invest? David Demangos 858.232.8410 Locally Known, Globally Connected Luxury Home Marketing Specialist Global Property Specialist David@AwesomeSanDiegoRealEstate.com www.AwesomeSanDiegoRealEstate.com Our Team Goes to Extremes to Fulfill Your Real Estate Dreams!