Connie McKrieth, 58, was forced to take up residence in a U-Haul van after medical care for cancer depleted her savings. She now lives in a 578 square foot studio apartment in downtown San Diego, which she feels is much more spacious than the van she lived in for nine months. With San Diego County's population of people 55 and older projected to hit one million by 2030, the need for affordable...
Property analysts predict that home prices will ↓ an avg of 2.8% in 2023. That is less than the 4.5% drop predicted earlier. That is also despite the aggressive tightening cycle by the Fed. The tight supply of homes is the main factor contributing to the resilience of home prices....
The DOM for existing homes have fallen back to 22 days. The low DOM could result from either a housing credit boom followed by a bust or a shortage of homes. There hasn't been a massive credit boom as purchase application data remains low, indicating a lack of credit expansion....
The 2023 Out of Reach Report from the National Low Income Housing Coalition found that the SF Bay Area and adjacent coastal region is the least affordable for renters nationwide. California's Fair Market Rent for a two-bedroom apartment is $2,197 and to afford this level of rent and utilities without paying more than 30% of income on housing, a household must earn $7,323 monthly or $87,877...
1. Real Estate is always going to be in demand. 2. Favorable prices can lead to larger gains. 3. Real Estate can provide cash flow. 4. Real Estate is accessible for everyone....
The California Association of Realtors reported in May that home sales rose to the highest level in eight months and the statewide median price remained above $800,000. The San Francisco Bay Area experienced the biggest sales lag and price drop compared to the same time last year, but month-over-month sales and prices bounced back in most parts of the Bay Area. Santa Clara and San Mateo Counties...
Andrew Potter, the Clerk of the County Assessment Appeals Board, recently announced that San Diego County residents and businesses who disagree with their property tax assessments for the 2023-2024 Fiscal Year can file an application to appeal their value between July 2 and Nov. 30. Applications and information booklets are available online and in-person, and the deadline for filing an application is 5...
Here’s a list of the top 10 most expensive US markets for short-term rentals: Daily rate of a 3-bedroom rental: Oxnard, CA: $488 Scottsdale, AZ: $394 Austin, TX: $373 Las Vegas, NV: $360 Honolulu, HI: $315 Virginia Beach, VA: $304 Nashville, TN: $299 San Diego, CA: $295 Santa Clarita, CA: $292 Miami, FL: $290...
Rising interest rates in California's housing market are impacting potential home buyers, making it harder to qualify for larger mortgages.Silicon Valley, California's tech-heavy housing market, has seen significant price growth, making homes less affordable for buyers.As a result, buyers are exploring cheaper areas of the state for more affordable...
California's 24-mo streak of rising rents has ended, with the number of empty rental units reaching a 2-yr high. Statewide, rents in California ↓ 0.7% over the past year, marking the first yearly decline since April 2021. Vacancy rates in California ↑, with 5.4% of units being vacant statewide, the highest level since March 2021. The supply of...
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