Posts Tagged ‘Realtor.com’

FSBO Executive Uses A Realtor To Sell His Mansion

Al Bennati, the longtime chief executive of BuyOwner.com, has chosen to list his home with a local real estate agent.

BuyOwner.com is one of many websites out there now that encourage home owners that they do not need to enlist the help of a professional agent to be able to sell their home. Their website tells homeowners: “BuyOwner.com allows you to reach the most potential buyers in the shortest amount of time, in the most effective (the Internet) and most cost effective manner (no commission!) possible.”

But that has not stopped their chief executive, Al Bennati from hiring professional help in listing his own Florida mansion, now on the market. Bennati has listed an estate on St. Petersburg Beach for $3.78 million with Coldwell Banker agent Donna Miller.

for sale by ownerThis isn’t the first time that a CEO of a major FSBO website has enlisted the help of an agent when the time came to sell their own home. In August of 2011, Colby Sambrotto of forsalebyowner.com who, after failing to sell his home using FSBO websites, needed an agent to sell his NYC apartment.

Two separate people made fortunes convincing others to sell their home through their FSBO sites. Yet, when it came to selling their own home, they recognized the value of using a real estate professional. There is a reason the real estate industry has been around for centuries: it performs a valuable service!

 

For more information on this topic:

619.384.2248
Ryan@RyanYourRealtor.com

 

San Diego Housing Market Update-April 2014

The spring buying season is here in the San Diego housing market. Inventory levels (the number of homes on the market “actively” for sale) are currently 6600 listings in San Diego county, up slightly from 6500 last month. That number should continue rise in the coming months as more people put their homes up for sale into the summer.

How's the market 2

According to Bankrate.com, interest rates are currently at 4.21% for a 30-year fixed loan. This is well below the historical average of 6% or so, which is great for home buyers. To calculate your potential mortgage payment, go HERE.

Finally, as you will see on the chart below, prices are starting to take on a more normal pattern. There are much more modest changes than the previous year, with a 10.1% increase in median prices, compared to over 20% a few months earlier. However, even with the higher prices, homes continue to sell a a faster pace than a year ago.

The San Diego Association of Realtors analyses housing market date for San Diego county every month. Below is their monthly report. The figures combine both condos and townhomes, as well as single-family homes.

Click on image to enlarge

Click on image to enlarge

 

For more information on this topic:

619.384.2248
Ryan@RyanYourRealtor.com
Visit my Website: http://ryanyourrealtor.com

Central San Diego Market Update-February 2014

We have continued stability in the San Diego housing market. With sales, days on market, and price per square foot level out compared to the previous month. However, homes are continuing to sell at a fairly brisk rate, meaning buyers don’t have long to act on a property they love. With this more “normal” pattern, interest rates have actually been taking a slow dip over the last few weeks. They are currently at 4.32%. Inventory levels (the number of homes on the market “actively” for sale) is continuing bounce around the 6000 level for San Diego county. Finally, prices are starting to take on a more seasonal pattern, with much more modest changes than the previous year. To get the latest figures, I ran an analysis of home figures from the MLS for the central San Diego region (a 7 mile radius). This includes communities such as Mission Valley, Serra Mesa, University Heights, Normal Heights, Hillcrest, Mission Hills,  Bay Park, and Clairemont. The numbers include both condo/townhomes as well as single-family homes.  Housing Figures-Central San Diego

Date # of Sales Median Sale Price Med Price/Square Ft. Ave Days on Market    
February 2014 464 $437K $365 23
January 2014 463 $450K $370 30
February 2013 554 $401 $327 20

How's the market 2There are currently 6200 active listings in San Diego county, up from 6100 last month. That number should continue rise in the coming months as the spring selling season approaches and more people put their homes up for sale. For more information on this topic:

619.384.2248
Ryan@RyanYourRealtor.com
Visit my Website: http://ryanyourrealtor.com

Central San Diego Market Update-January 2014

The San Diego housing market has stabilized in many ways. We sales, days on market, and price per square foot level out compared to the month of December. However, sales took a large dip in the month of January, which is actually normal. Many potential homebuyers take a “break” from home shopping in the month of December because of the holidays. This means they aren’t closing the sale in January.

With this more “normal” pattern, interest rates have actually been taking a slow dip over the last few weeks. They are currently at 4.24%. Inventory levels (the number of homes on the market “actively” for sale) is continuing bounce around the 6000 level for San Diego county. Finally, prices are starting to take on a more seasonal pattern, with much more modest changes than the previous year.

To get the latest figures, I ran an analysis of home figures from the MLS for the central San Diego region (a 7 mile radius). This includes communities such as Mission Valley, Serra Mesa, University Heights, Normal Heights, Hillcrest, Mission Hills,  Bay Park, and Clairemont. The numbers include both condo/townhomes as well as single-family homes.

 Housing Figures-Central San Diego

Date # of Sales Median Sale Price Med Price/Square Ft. Ave Days on Market    
January 2014 463 $450K $370 30
December 2013 589 $460K $369 32
January 2013 496 $394K $307 29

How's the market 2There are currently 6100 active listings in San Diego county, down from 5700 last month. That number should rise in the coming months as the spring selling season approaches and more people put their homes up for sale.

For more information on this topic:

619.384.2248
Ryan@RyanYourRealtor.com
Visit my Website: http://ryanyourrealtor.com

Top 5 Real Estate Trends for 2014

It’s a brand new year! With the new year, RealtyTimes predicted the top changes in the Californa real estate market, now in effect.

INCREASING MORTGAGE RATESreal estate trends for 2014

Mortgage rates are predicted to rise, but not too far, up to 5% or 5.25% in 2014. The
Federal Reserve will begin tapering soon and the greater the reduction in Federal government purchases, especially of Mortgage Backed Securities (MBS), the more rates are likely to grow.

It’s a great time to buy now because mortgage rates are still below the historical average so if you’re thinking of making a move, 2014 is the perfect time to jump into the market and start looking! With low rates and increasing home values, now’s the time to buy in order to make a smart investment for your future.

Speaking of mortgages, home buyers also need to be prepared for stricter qualifications on home loans. Lenders are now required to prove borrowers’ ability to repay a loan according to new “qualified mortgage” standards. An important statistic to keep in mind is the maximum debt-to-income ratio of 43% that borrowers will need to qualify.  The Federal Housing Finance Agency, which regulates Fannie Mae and Freddie Mac, has also announced plans to reduce the maximum loan limits for conventional conforming loans some time in 2014.

INCREASING HOME PRICES AND VALUES

Predictions show that home values and prices will rise in 2014.  Moderate predictions are clocking in at a 6-8% increase for California markets whereas others foresee a 10-15% increase.

According to Bill Plattos, Execute Vice President of First Team Real Estate, “2013 has begun the upward progression of the real estate market in California. In the next 3 to 4 years prices and sales will continue to rise bringing us back up to a peak.”

FEWER INVESTORS

Investors swoop in when home prices bottom out like they have in the past few years, seeking foreclosed homes and short sales to snatch up.  However, as our economy strengthens and home values come back up in 2014 there are fewer distressed homes on the market to interest investors.  The rise in home values in and upswing in the economy will also make it easier for current home owners who’ve built up equity to afford a down payment and enter the market in search of a bigger and better home to fit their needs.

Fewer investors also means less price competition and fewer bidding wars for buyers shopping for primary residences.  2014 will be the prime time to buy and sell for home owners who are ready to move on to a better neighborhood, larger home or location offering a more convenient commute.

CONTINUED HOME SELLERS MARKET

The seller’s market will continue in 2014 for California and on a national level.  However, it will be much cooler than the one we’ve witnessed over the past two years. “The market will get closer to normal – or as normal as the market can be,” says Plattos. “It will continue to cool and inventory will come up to a moderate level, not too low or too high.”

HOME BUYERS NEED TO START SEARCHING

With the seller’s market leveling in 2014, that means buyers need to be realistic about the home they can afford.   Home buyers, now is the time to start searching the best deals in real estate in order to get the most for your money.

For more information on this topic:

619.384.2248
Ryan@RyanYourRealtor.com

Central San Diego Housing Update-December 2013

With the year drawing to a close, the San Diego housing market finished with a slight “jolt.” We saw increases in both prices and sales compared to the month of November. However, homes are starting to sit on the market a bit longer, since the bidding wars from desperate home buyers has settled down. The skyrocketing home prices seen for over a year have finally stabilized a bit into a more “normal” pattern.

With this more “normal” pattern, interest rates have held pretty steady over the past few months. They have been hovering close to the 4.5% level for some time now. Inventory levels (the number of homes on the market “actively” for sale) is continuing to stay around the 6000 level for San Diego county. Finally, prices are starting to take on a more seasonal pattern, with much more modest changes than the previous year.

To get the latest figures, I ran an analysis of home figures from the MLS for the central San Diego region. This includes communities such as Mission Valley, Serra Mesa, University Heights, Normal Heights, Hillcrest, Mission Hills,  Bay Park, and Clairemont. The numbers include both condo/townhomes as well as single-family homes.

 Housing Figures-Central San Diego

Date # of Sales Median Sale Price Med Price/Square Ft. Ave Days on Market    
December 2013 194 $433K $340 25
November 2013 169 $407K $334 22
December 2012 229 $390K $303 30

How's the market 2There are currently 5700 active listings in San Diego county, down from 6500 last month. That number should rise in the coming months as the spring buying season approaches and more people put their homes up for sale.

For more information on this topic:

619.384.2248
Ryan@RyanYourRealtor.com
Visit my Website: http://ryanyourrealtor.com
This theme is sponsored by California along with Texas, Radio and corporate office contact address
Sitemap