Today we'll hear from Janett Lewis McWilliams of Gold List Properties
|Janett Lewis McWilliams|
Chart comparison of all homes
When you look at the detached homes it’s a different story. November 2012 - November 2013 for 92110 was $590,000 while 92117 was $470,000. November 2013 – November 2014 92110 was $655,000 while 92117 was $519,000. It depends on the types of properties you factor into the statistics.
Chart comparison of all DETACHED homes
When we look at short sales and Foreclosures we see some really great news!
Short sale stats
2012 The number of sold foreclosures in 92110=21 and 92117=33 2013. The number of sold foreclosures in 92110=5 and 92117=22 2014. The number of sold foreclosures in 92110=2 and 92117=7.
So in a nutshell that’s what the market looks like. With the short sales and foreclosures decreasing the forecast looks great! We are still low in inventory so it’s a great time to list a home with more buyer competition but the loans are still a little difficult.
Let me close with a little advice for buying or selling a home in San Diego. Get that lender approval 1st! If buying, don’t charge anything until the transaction closes. If buying a condo ALWAYS verify owner occupancy; if it’s fewer than 50% you might need to come up with a much larger down payment especially if it’s an investment property. Interest rates are still great so get that approval and go shopping!