The economy is difficult to predict because the numbers are typically not available until the end of the month. That’s not to say it’s impossible, however- and based on the numbers, things seem to be getting better. Check out this informative document for more information about layoff by market type and industry, number of foreclosures, months of inventory, COVID-19 stats as they relate to the nation and compare San Diego, and a focus on Logan Heights and the market it provides.
Alan Nevin’s Economic Report for May 2020
Take care of yourself during these trying times, and remember, I’m never too busy for your referrals!
The biggest question facing people right now is the future of Real Estate prices. In a nutshell, after reading multiple articles, many of them below say that sales will drop significantly in the short to mid term but reboot in the next 12 – 18 months. Prices will pull back no more than 3 % over last year (Less than 1 % throughout the county) over the next year but will continue their upward trend in the mid to long term. This is due to supply and demand, always the driving factors in any market. The fundamentals in the housing market are good; we have good demand and short supply, hence a solid market.
Zillow spends a fortune on research and while their “zestimates” are by their own admission “a starting point” which should not be taken as gospel, I have no problem with their metadata which looks at the overall market. There are sufficient data points there to minimize margin of error and from the 10,000 ft view, things in San Diego are looking good. If you want more detail on your particular area, please let me know and I will help you.
Is this a good time to buy? Yes, if you can get a loan- they are difficult right now due to limited liquidity. Rates are super low and you can fix your monthly costs for the next 30 years. Is this a good time to sell? Yes!! Inventory is low and buyers are still competing for homes that are fairly priced. Multiple offers are still not uncommon.
Life has been unpredictable lately with the Stay at Home order, and these are confusing times for everyone. While we may not be able to go out and enjoy the world, there are still a few things that we can do to stave off cabin fever and keep ourselves sane in a world of madness.
1. Have a Game Night
Chances are that you have some board games in your house that you haven’t played in a while. Now is the perfect time to break out the games and do something as a family or a couple. If you haven’t got any games around the house, there are several apps available on mobile devices that you can play together with others.
2. Get Ahead of Spring Cleaning
Chances are your house has accumulated some clutter since the last time you organized things. Reorganizing things and getting rid of stuff you no longer use or need can help you feel more in control of your life, which is especially important when so much control has been taken away from us.
3. Cook Local Staples in Your Kitchen!
A lot of foods don’t require that many elaborate ingredients. In fact, you may have most of them around your kitchen already! Look up some recipes, or watch videos on YouTube, and get some ideas of things you can make while in the comfort of your own home. Maybe you’ll learn a new skill in the process!
4. Have an At-Home Date Night
This one is for all you couples out there. Spending time in close proximity 24/7 with anyone can be exhausting, even if that person is your partner. Having a date night can remind you of everything you love about them- and help you unwind after a long day.
5. Read a Book
Whether it’s a book on your shelf, a book on your kindle or smartphone, a comic, a series you’ve been meaning to catch up on, or something else, reading is a good way to unwind and focus on something that’s not the world around you.
6. Start Spring Home Maintenance
Spring heralds the end of winter, and that means that there’s potentially a lot of projects that need to be done around the house. If you have the tools you need around the house, now might be a good time to take care of anything your house might need done.
7. Brainstorm Ideas for Home Improvement Projects
If there’s nothing to fix around your house, perhaps it’s time to think about what you can do to make your home an even better place to live. Talk to the other people in the house, and see if there’s anything you can think of to do that will improve your quality of life while you’re living there.
8. Work Out at Home
Just because the gyms are closed, doesn’t mean you have to stop doing your exercises. Things like Yoga only require a soft surface, and there are plenty of ways to work out your body without leaving your house.
9. Go For a Walk & Look at Nature
Places may be closed, but you can still go out and get some fresh air. Whether it’s around your neighborhood, a park nearby, or somewhere like Balboa Park where there are plenty of sights, getting out of the house to take a walk can help keep you sane. Just remember to keep 6 feet away from strangers.
10. Get Rest & Strengthen Your Immune System
The most important thing is to take care of yourself- don’t stress yourself out if you’re not able to do any of these things. Taking a break and getting some rest is something you can do as well – and, in fact, you should do it, to help keep your body healthy.
In addition, many people have to work from home right now. Here are some suggestions for things you can do to make this process easier.
1. Location, Location, Location
Finding a dedicated workplace to do your work can help you be more productive. While it may be comfortable to work on your bed or on the couch, your brain doesn’t associate those places with work, and thus it may be more difficult for you to get things done if you’re trying to work there.
2. Bring The Outdoors In
Adding plants to your environment may help relax you, brighten the room’s atmosphere, and make the air quality in the house better. Or, if you’re feeling particularly adventurous, you could try and grow some food in your house to both give you some plants and provide food down the line!
3. Repurpose your Commute
Time spent traveling is now time you’re at home. You can use the time to do other things, like exercise, eat, and spend time with your family. Or, you can use it to set up your workplace to suit your needs for the day.
4. Show your face
Teleconferences have become commonplace as of late, requiring people to use technology to communicate. Consider using your webcam or camera during these conferences to show people your face- it can help with communication, and help you feel less lonely in the process.
5. Create lists
Keeping tabs on what needs to be done for the day can help you get things done. By keeping track of what you need to do, you can figure out how much time you need to spend on an individual task, and keep yourself organized for the day.
These are tough times that we’re facing- but remember that you’re not facing them alone. Take care of yourself, and don’t be afraid to reach out to the people around you if you need someone to talk to.
This is a special time for homeowners. Rates are so low it would be foolish to not examine if it’s a good time to refinance (and to buy too)!
If you haven’t refinanced your existing mortgage in the last 6 months or so, it’s a great idea to call Kim Carlson at 858-729-4682 and see if she can save you some money. Kim and I have worked together for years with her helping my clients and also helping me and my family on a number of occasions. Feel free to text her (858-729-4688) if that’s easier for you.
I can help you individually in trying to ascertain if that is a good thing to do but that decision is pretty complicated and too involved for a short blog post. Let me know if you want to discuss this one on one. I am happy to help. However, there are six general questions you can ask your lender when you are looking to refinance or take a loan on a purchase. They are as follows:
Ultimately, you’ll want to talk to your lender about anything that you’re confused about or unclear on. It’s their job to help you every step of the way when you’re getting a loan, so make sure you’re clear on everything before you decide to go forward with your decision.
Happy Valentines’ Day! I hope you and your loved ones are enjoying the holiday, and that you have something very special planned for your partner today.
Did you know that home prices are remaining on an upscale? According to the National Association of Realtors, buyers continue to lean on low mortgage rates, and household incomes rose to $79,740—an increase of roughly $2,650 year-over-year! For first-time homebuyers, affordability also expanded last quarter. The average first-time homebuyer needed $48,288 for a mortgage, approximately $575 less year-over-year, and their average monthly mortgage payment slid to $1,006, assuming they had a 10 percent down payment.
If you’d like to know more, please follow this link.
Thank you all for your continued support, and may the rest of this year bring you good fortune, both in and out of the housing industry.
Potential sellers
may be hesitant to put their home on the market in the winter because of the
misconception that it’s not an optimal time for selling. However, regardless of
the time of year there are always buyers in the market for a new home. An advantage
of selling in the winter is that you can stage your home to take advantage of
the indoor warmth of the season.
This month’s information offers several ideas to help you stage your home for a winter sale, such as placing a warm throw over the corner of the sofa to encourage a cozy feel and turning up the thermostat. Page two outlines a few of the benefits of selling your home in the winter.
A Winter Sale
If you’re interested in selling your home, please contact me to learn more about its value and our local market. Be sure to share this information with family or friends who may be thinking about putting their homes on the market.
From my family to yours: Have a happy and safe holiday season with your loved ones.
You may have heard the saying, “Gratitude is the best
attitude.” Gratitude is more than a passing “thank you;” it’s a heartfelt way
to acknowledge someone and their good deed.
This month, in honor of Thanksgiving, I’m sending
information that outlines nine ways to express gratitude to the people who have
gone the extra mile to help us. Ideas include writing a note, giving them a
small token of appreciation like flowers or their favorite treat, or publicly
acknowledging and appreciating their good deed on social media. Gratitude is
more than good manners; it’s a great way to improve your relationships with
friends, colleagues and loved ones.
Thanksgiving is a time for friends, family, and – as its name implies – giving thanks. This year, as you go about your celebrations, remember to be thankful for all you have and enjoy the company of the people you care about the most.
This is an opportunity for us to see new and old friends, be thankful for those relationships, and to give back to those less fortunate than us. If you’d like to give back to the community, please consider donating a new, unwrapped toy to Toys for Tots. You can find out more at https://san-diego-ca.toysfortots.org/.
I want to take this opportunity to tell you how much I appreciate you! Your business and referrals allow my business to thrive. Thank you for being my client and allowing me to be your trusted real estate advisor. Wishing you and your family a wonderful Thanksgiving! May you all have a Happy Thanksgiving, and I hope you enjoy the holiday time this year.
Whether
you purchased a newly built home or an existing one, maintenance is essential to
keep it in great condition for years to come. However, it can be tricky to
remember what to do and when.
This month, I have some information that will take the mystery out of home maintenance. The information includes a home maintenance checklist, separated by season, so that you’ll always stay on top of things. If you’d like a referral to a reputable home repair service or handyman in our area, give me a call! I’m more than happy to connect you with someone in my professional network.
Home Maintenance Made Easy!Keep Your Property In Top Shape Year Round
Pass
this information along to your family and friends to help them keep their homes
in top shape.
Social Security is an important investment to make when you’re thinking about your future. Money builds up over time, and the sooner you start, the more money you get. It’s important to consider your future, and look out for yourself and your future endeavors- and Social Security is one way of going about that.
That said, it’s never too late to start investing in yourself. To help you make your decision, I’ve included a chart of how savings can grow over time, and a spreadsheet that you can adjust to see what your own personal savings might become.
Share this information with your friends and family if you think they might benefit from it, and if you have any questions, be sure to let me know.
The ever-changing
real estate process can be confusing for most homebuyers and sellers. That’s
why having an experienced, trustworthy professional to work with is essential.
I’m proud to be the professional that you trust with your real estate needs.
The information in this post outlines some of the services I provide, and explains why it’s important to have a well-rounded professional in your corner. These are just a few of the services I’m happy to offer great clients like you.
Why You Need A Trusted Real Estate Professional In Your CornerImprove Your Home Search With These Three Apps
To check out the Social Security spreadsheet and chart I talked about in this video, take a look at this post!
If you have a
family member or friend who is thinking of buying or selling a home, I’d love
to offer them the same great service I give to you. Pass this information along
to them, and remember, I’m never too busy for any of your referrals!
