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La Mesa Real Estate reflect an 15% increase in homes sales

April 13th, 2013 · Real Estate Markets, San Diego

La Mesa and Real Estate

The March 2013 home sales data released by the Pacific Southwest Association of Realtors reflect an15% increase in homes sales during the first two months of 2013 compared to last year’s sales. The average sales price for a La Mesa home was $341,319, compared to $296,348 last year. There are approximately 91 homes for sale. The median list price is $497,000 for a La Mesa home and the average days on the market during the first two months of the year was 28 days.  Local La Mesa real estate agents are reporting homes selling quicker as well.  That is good news for both buyers and sellers. With signs of the housing market recovery, buyer confidence is strong. Since the La Mesa real estate inventory has shrunk, many buyers are competing to find well-priced La Mesa homes.

Foreclosure Properties

According to RealtyTrac, there are 190 properties in some sort of state of foreclosure in La Mesa. However, the number of homes that received a foreclosure notice during the month of March 2013 was 31% lower than the previous month and 61% lower than the same time last year. The median sales price for a La Mesa foreclosure home was $307,600.

Nationwide Snapshot

While nationally, Realtor.com released their March 2013 data, which reflects that the national housing inventory decreased 15.22% since the same time last year, although the number of listings increased 2.3% in February. However, there are a lot fewer homes on the market this year than there were last year. Nationally, the average list price was $190,000.

A word to the wise, if you find a La Mesa, CA home that meets your needs, make your offer quickly before another buyer comes along and steals your treasure. Working with a local La Mesa Realtor is the best way to find your dream property. The Realtor is familiar with the La Mesa area and the La Mesa real estate inventory and can help you determine the right price to pay for your La Mesa home if you are a buyer. Smart sellers also know that selling a home in La Mesa requires the expertise of an experienced La Mesa Realtor to market their home to the right qualified buyer.

Looking Ahead

The rest of 2013 appears promising for the La Mesa and surrounding area real estate market. It is anticipated that more sellers will decide to list their homes this spring into summer. However, in order to compete with foreclosure and distressed homes, sellers must still be realistic and price their homes right. Buyers can still find affordable homes and interest rates are still low. Home prices should continue to stabilize throughout the rest the year with some neighborhoods seeing prices inching up slowly in the near horizon.

Article contributed by San Diego Home Sales on La Mesa, Ca

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San Diego & Real Estate Stats

February 3rd, 2013 · Real Estate, San Diego

If you are curious about what is happening the San Diego, CA and surrounding area real estate market, here are some statistics on home sales recently released by Trulia.

San Diego Home Stats

130000824-14The average price per square foot for a San Diego home was $280, representing an increase of 10.2% compared to the same time last years. The median sales price for a San Diego home during the period October 12, 2012 to December 12, 2012, was $367,500, based on 4,258 home sales reported. The median home sales price increased 19.7% compared to the same time last year, and the number of home sales also increased by 10.3% compared to last year.

Trulia reported a total of 2,950 resale and new homes for sale in San Diego, as well as 3,833 homes in some state of foreclosure. The average list price for a San Diego home during the week ending January 23, 2013 was $589,670, which remained unchanged compared to the prior week.

Rancho Bernardo Home Stats

Popular neighborhoods in San Diego include Rancho Bernardo and Mira Mesa.

According to Trulia, the median sales price for a Rancho Bernardo home during the period October 12, 2012 to December 12, 2012 was $370,000, representing a 1.4% increase compared to the previous quarter and an increase of 27.2% compared to the same time last year. The median sales price for a Rancho Bernardo home was 0.68% higher than the median sales price for a San Diego home. However, overall, sales prices in Rancho Bernardo have depreciated 12.9% during the past 5 years.

The average listing price for a Rancho Bernardo home during the week ending January 23, 2013, were $466,427, representing an increase of 2.2% compared to the prior week. The average price per square foot for Rancho Bernardo home was $232, which is approximately 17.14% lower than the average price per square foot for a San Diego home.

Mira Mesa Home Stats

The median sales price for a home in Mira Mesa during the period Oct 12, 2012 to December 12, was $365,000, representing an increase of 9.9% compared to the prior quarter and an increase of 15.4% compared to same time last year. The median sales price for a Mira Mesa home was 0.68% lower than the median sales price of a San Diego home. During the past 5 years, the sales price for a Mira Mesa home decreased 5.6%.

The average listing price for a Mira Mesa home was $319,329 during the week ending January 23, 2013, representing a 1.9% increase over the prior week. The average price per square foot for a Mira Mesa home was $247, which is approximately 11.79% lower than the average price per square foot for a San Diego home.

If you are a buyer, it is still a great time to buy a home in the San Diego area. Sellers who price their homes right are having success selling their homes as well. The market is showing signs of stabilizing and returning to normal.

Article contributed by www.homesalessandiego.com

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Wilmington NC New Homes & Foreclosures

January 18th, 2011 · Real Estate Markets

We wanted to start comparing other markets and see what is going on on the East Coast.  so we are going to take a look at North Carolina.

Wilmington NC offers homes and condos for everyone.

Always popular, is new construction. There are great communities offering homes for every buyer.

In Carolina Beach we are seeing the reemergence of new construction. For example, you can buy a 3 bedroom 3 bath home within walking distance to the beach for $350,000. This is a new home.

There are currently nine new homes being offered according to WRAR. The average list price is $343,000 and its 1,608 square feet.

With regards to bank owned homes in Carolina Beach NC there are currently 33 homes for sale. They range in price from $89,000 to $564,000. The inventory level for foreclosures has dropped from the same time last year.

In Seawatch,  a Kure Beach community, you can buy a new ocean view home for $600,000 and up.

In new construction, there are currently two new homes being offered, both are in the $1,000,000 range.

With regards to bank owned homes listed in MLS, there are currently five properties, ranging from $50,000 to $500,000. Bank owned inventory has dropped in Kure Beach compared to 2010 at this time.

Wrightsville Beach has several new homes priced near $2,000,000. There are 3 bank owned homes in Wrightsville Beach as of January 2011.

For those on a budget, you can find great homes in Masonboro Country Club for $300,000. These are brick homes with 4 bedrooms, in a golfing community.

There are urban flats available in downtown Wilmington starting at $200,000. This is a great location for those looking for fun, nightlife and social activities.

Condos in central Wilmington have recently been built. This provides easy access to the beach, downtown and UNCW For example, a new condo off 17th St can be purchased for $120,000. It has a nice pool, tennis courts and a clubhouse.

Wilmington North Carolina real estate continues to offer enough variety of properties and homes for sale to satisfy investors, new home buyers and families alike. With the vast number of communities, price ranges and home styles, anyone is sure to find the type of property they are looking for.

Coastwalk Real Estate has been generous enough to provide these recent statistics about the coastal NC market.

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Mission Viejo real estate market

July 7th, 2010 · Real Estate

Official seal of City of Mission Viejo
Image via Wikipedia

The Mission Viejo real estate market, a part of the larger Orange County and Southern California housing markets, showed strong signs of progress despite a substantial distressed sales market. According to a June 15, 2010 report from OC Metro, “Orange County’s median home price and sales numbers got a welcome boost in May, partly due to government tax credits, low mortgage rates and more activity in higher-priced areas, according to a new report from MDA DataQuick.” The article by Kristen Schott continued to say that “The median home price rose to $450,000 in the county, up about 10 percent from the same time last year. It’s the ninth consecutive year-over-year gain, according to the real estate information service. The price also increased from April when it hit $430,000…Sales rose 22 percent in Orange County, compared to the same time last year. Buyers snapped up 3,257 properties, compared to 2,667 in May 2009.”

The same pattern of growing home sales and increased median prices seen among Mission Viejo homes for sale was repeated across the larger Southern California region. According to a June 15, 2010 article from the Orange County Register, “Dwindling foreclosures and higher sales in pricier, coastal neighborhoods have pushed Southern California home prices to their highest levels in almost two years, according to MDA DataQuick. The median price of a SoCal home, or price at the midpoint of all sales, jumped 22.5 percent in May to $305,000.” The report by Jeff Collins went on to note that “It was the first time since October 2008 that the SoCal median price has been at $300,000 or higher. Meanwhile, home sales were up 7.2 percent, juiced in part by the expiring of a federal tax credit of up to $8,000.”

Despite a decrease in the number of foreclosures in the Mission Viejo housing market, there were still a number of distressed sales in the region. According to a June 15, 2010 article from the Orange County Register, “The distressed inventory continued its slow climb this year, adding an additional 89 homes in the prior two weeks and now totaling 3,080, a 3% increase.”

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The Laguna Niguel housing market

July 5th, 2010 · Reviews

Official seal of City of Laguna Niguel
Image via Wikipedia

The Laguna Niguel housing market, part of the larger Southern Orange County real estate market, showed strong signs of improvement compared to a year earlier. According to a June 15, 2010 article from the Orange County Register, “For calendar month May – DataQuick’s latest stats – the 19 ZIPs located in south inland communities showed…947 homes sold, that is +46.1% vs. a year ago. The median selling price of these ZIPs was $520,000 – that is +4.9% vs. a year ago.” The piece continued to state that “The south inland ZIPs comprised 29.9% of the recent home sales in Orange County vs. 24.9% a year ago…36 ZIP codes in beach towns and inland South County communities had 1,515 home sales. That’s up 43.7% vs. a year ago.”

The recovery of the overall Orange County economy, which partially determines the number of Laguna Niguel homes for sale, is not as rapid as some analysts had expected. According to a June 3, 2010 article from the OC Metro, “Attendees got what they came for with news that an uptick in new jobs, consumer confidence and median home prices all point to a ‘weak but sustained recovery through 2011.’ The lagging construction industry, however, is expected to stall a more robust rebound.” The piece, composed by Kimberly A. Porrazzo, went on to say that “Typically, GDP growth is in the 6 percent range following a recession. Chapman’s forecast last December called for a mild recovery – around 3 percent…The report underscored the fact that the recession’s impact on Orange County was greater than previously though. Revised statistics from the Employment Development Department show that the county lost 110,200 payroll jobs during 2009, instead of the previously reported 64,800.”

The jobless rate will likely not reach pre-recession levels until next year, which might stall the recovery of the Laguna Niguel housing market. According to a June 3, 2010 article from the Orange County Business Journal, “Orange County isn’t expected to start adding jobs until 2011, according to a midyear economic forecast update released by Chapman University Thursday. Economists at the university in Orange now expect a 1.2% drop in employment for nearly 18,000 jobs lost in 2010, a sharp pullback from the 1,000 job gain it predicted in December.”

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