April - 2020

Is San Diego County Real Estate Already On the Rebound? Most Current Statistics Indicate Upswing.

Is San Diego County Real Estate Already On the Rebound? Most Current Statistics Indicate Upswing.

The Greater San Diego County Association of REALTORS shared some very optimistic statistics through week ending 4/27/2020 with its members yesterday, indicating a decided upswing in the number of Pending sales. Transactions are still taking place and, despite rumors to the contrary, there is not a “Coronavirus Discount” for homebuyers as demand continues to outweigh supply. As expected, sales are down year-over-year due to the pandemic, however it appears that real estate is

San Diego Real Estate Remains Surprisingly Active Despite Pandemic

San Diego Real Estate Remains Surprisingly Active Despite Pandemic

As I noted in earlier blog posts, the rate of new listings and sales through the end of March showed signs of slowing toward the end of the month, but it was early into the stay-at-home order and we had just begun what we anticipated to be a very robust spring season. Many listings were already in the process of becoming ready for market and there were transactions in process, so it was not too surprising that March remained strong despite the virtual shutdown of consumer act

San Diego Real Estate Market Still HOT Under $1.25m - Luxury Market Projected to Take a Hit.

San Diego Real Estate Market Still HOT Under $1.25m - Luxury Market Projected to Take a Hit.

I attended a virtual meeting hosted by the Greater San Diego Association of REALTORS last week featuring Mr. Alan Nevin, Director of Economic and Market Research at Xpera Group. Mr. Nevin has an extensive background in real estate economics, lending and market analysis and is one of San Diego's leading authorities on local economics and the San Diego Real Estate Market. As I indicated in previous blogs, the last three weeks of March continued to produce a surprising amount of

March Stats Indicate San Diego Home Sellers Continuing to List, High Number of Pendings and Closings

March Stats Indicate San Diego Home Sellers Continuing to List, High Number of Pendings and Closings

Good morning, and I hope you had a good weekend. The Greater San Diego Area Association of REALTORS recently published sales statistics for the month of March for San Diego County by region. If you read my Blog article on March 28th, I posted sales information for the first three weeks of March which seemed to indicate that despite COVID-19, Sellers were continuing to list, and Buyers were continuing to purchase homes. While numbers are down from pre-coronavirus expectations,

San Diego Enacts Emergency Moratorium on Evictions

San Diego Enacts Emergency Moratorium on Evictions

City Council Approves Mayor’s Small Business Relief Package; Law Temporarily Halting Evictions for Covid-19 Related Hardships Takes Effect Immediately Wednesday, March 25, 2020 - NEWS RELEASE San Diego – Continuing to take aggressive steps to protect the health and welfare of San Diegans, the City of San Diego today enacted an eviction moratorium that provides relief to residential and commercial tenants facing financial hardship related to the COVID-19 pandemic. The City Cou

Appraisal and Employment Verification Flexibility Granted for Homebuyers

FHFA Directs Enterprises to Grant Flexibilities for Appraisal and Employment Verifications FOR IMMEDIATE RELEASE 3/23/2020 Washington, D.C. – Today, to facilitate liquidity in the mortgage market during the coronavirus national emergency, the Federal Housing Finance Agency (FHFA) directed Fannie Mae and Freddie Mac (the Enterprises) to provide alternative flexibilities to satisfy appraisal requirements and employment verification requirements through May 17, 2020. To allow f

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