Seeing The Big Picture In Today’s Real Estate Market
April 23rd, 2008 Categories: Del Sur, Real Estate News
Real Estate news. All of us are reading the newspapers, magazines, blogs, the internet and watching TV. They have all been telling us about the doom and gloom of what is happening with the real estate market. What they are not saying is many regional markets are still experiencing a large volume of homes under contract. They are reporting on closings, but not on the “pending” sales that will be closing in six to eight weeks. It is actually the pending sales that really shows you what is happening in the real estate market place.
Again it’s price, condition of the home and location of the house that is the large factor in pending sales. Here are some examples of what is happening in Coastal San Diego single family homes arena. 
Carlsbad 118 Pending Sales Price Range: $443,900 to $1,700,000
Encinitas 51 Pending Sales Price Range: $500,000 to $2,100,000
Oceanside 225 Pending Sales Price Range: $200,000 to $1,000,000
San Marcos 135 Pending Sales Price Range: $249,000 to $1,300,000
Vista 111 Pending Sales Price Range: $239,000 to $1,300,000
Del Mar 15 Pending Sales Price Range: $869,000 to $3,100,000
Solana Beach 16 Pending Sales Price Range: $815,000 to $1,900,000
Carmel Valley 59 Pending Sales Price Range: $575,000 to $3,900,000
So it’s obvious that we have buyers out there. With interest rates still at an all time low and the new HUD conforming loan limits increase that raises the San Diego – Carlsbad – San Marcos metro area to $697,500, we can expect more activity to come. Borrowers in high cost areas who previously had no recourse except high-cost jumbo loans now have more options. Those with existing high cost loans now can refinance into lower interest rates.
Courtesy of Linda B. Schecner, Realtor with Windermere Exclusive Properties.
If you’ve been sitting on the fence, it’s time to get in the game! For more information please be sure to contact us.
