January 17, 2011

How are other Pacifc Coast Markets fairing

The Mission Beach real estate market, a small section of the larger San Diego County real estate market, saw disappointing home sale statistics for both yearly composite and some monthly measures in December 2010. Interestingly, according to one tracking service, provided by the San Diego Association of Realtors, sales of both detached and attached homes saw a significant increase over December 2009. Detached homes saw a sales spike of just under twenty-seven percent compared to year-ago levels, while attached homes rallied by twelve and a half percent. A seasonal increase is generally considered normal between November and December. However, this uptick was not sufficient to bring the area’s annual figures into positive territory. For the entire year, the San Diego area saw a decrease of more than seven percent for attached homes and a decline of nearly five and a half percent for attached homes. Significantly, the annual median sales price increased compared to last year, reaching $330,000 in 2010 – a rally of about eight percent from 2009. Detached homes specifically saw average sales prices rise by almost eight and a half percent, to $385,000, while attached homes saw a less pronounced rally at less than seven and a half percent ($220,000). Additionally, homes spent about eight percent more time on the real estate market in 2010 relative to 2009, with detached homes taking about ten fewer days to sell than attached homes.

The number of Mission Beach real estate closings and pending San Diego County home sales decreased in December 2010, bucking a nationwide trend to the contrary. According to the national Pending Homes Sales Index, the number of pending home sales in the United States as a whole saw an increase in the most recent tracking period, while the number of pending sales in San Diego County saw a decrease. In December 2010, there were a total of 4,471 pending sales in the county, compared to 4,652 a month earlier. One local real estate expert attributed the lag to the more expensive product mix of properties in San Diego, which tends to have a median sales price well above many other parts of the state and country.

July 6, 2007

Goin2Travel Real Estate Free Listings

Goin2travel.com is a vacation rentals website site that has just released its real estate section.  It will have real estate listings around the world just like its rental section. They are offering real estate lings in such areas as Hawaii, Florida, Newport Beach, Costa Rica, Cabo San Lucas, Colorado, Myrtle Beach, Tampa, Kauai, San Diego and mmany more areas!! The really cool thing is that they are offering this to real estate agents and home owners. The best thing is that it is totally free to list your real estate listings.

The real estate agents get a profile page and all their listings interlink.

I would check this out if you are interested in getting free exposure for your real estate investments and resort style homes.

June 29, 2007

Real Estate Definitions

CCIM: The Certified Commercial Investment Member (CCIM) designation conferred by the Commercial Investment Real Estate Institute (CIREI), is awarded to experts in the disciplines of commercial real estate brokerage, asset management, valuation and investment analysis. The designation is earned by completing the intensive CCIM education program, passing a comprehensive examination and demonstrating a record of accomplishment in the commercial investment of real estate.

Fee Simple Ownership: Fee simple ownership is probably the most familiar form of property ownership to buyers of residential property, especially on the US Mainland. Fee simple is sometimes called fee simple absolute because it is the most complete form of ownership. A fee simple buyer acquires ownership of the entire property, including both the land and buildings. The fee simple owner does not pay ground rent, but does pay maintenance fees and real property taxes. The fee simple owner has the right to possess, use the land and dispose of the land as he wishes – sell it, give it away, trade it for other things, lease it to others, or pass it to others upon death.

Finance Charge: The total cost a borrower must pay, direct or indirectly, to obtain credit according to Regulation Z.

Graduated Payment Mortgage: A residential mortgage with monthly payments that start at a low level and increase at a predetermined rate. (more…)