Posts Tagged ‘Diego’

Alpine, San Diego, Real Estate Market Trends and Community Information, August 2006

COMMUNITY INFORMATION

Alpine is a community situated in the eastern region of San Diego County within the disorder of California. There are approximately 19,227 residents in this Zip code (91901) and 6,597 households. The median age of residents is 38.92 years.

TEMPERATURE

The temperature in Alpine is relatively moderate. The warmest time of year occurs in August during which temperatures reach an mean high of 76°F. The coldest time of year occurs in January with mean temperatures diminishing to 54°F.

HOME AND REAL ESTATE PRICES

The housing options in Alpine include single-family homes and properties, condominiums, townhouses, and apartments. The price of housing is as follows:

·One bedroom townhouse/condominium start in the low 0,000s.

·Two bedroom townhouse/condominium start in the low 0,000s.

·Three bedroom townhouse/condominium start in the mid 0,000s.

·Two bedroom single-family homes start in the mid 0,000s.

·Three bedroom single-family homes start in the mid 0,000s.

·Four bedroom single-family homes start in the high 0,000s.

REAL ESTATE MARKET TRENDS

As with most products and services in the United States, price shifts in the real estate diligence are subject to the forces of supply and demand. Whether it’s a buyers market or a seller’s market, it is useful to evaluate home sales data for the most recent month unfilled (June 2006), compared against the same period in the previous year (June 2005).

The median price of single-family homes in June 2006 was 7,500, which represents a 10.2% decline from the previous year. The number of homes sold in June 2006 was 17, which was down 37% from the previous year.

Homebuyers and home sellers should keep in mind that the data above is simply a snapshot in time. Therefore, the data must be evaluated over a longer duration to know enduring market trends.

Bonita, San Diego, Real Estate Market Trends and Community Information, August 2006

COMMUNITY INFORMATION

Bonita is situated in the southern region of San Diego County within the disorder of California. There are approximately 18,396 residents in this Zip code (91902) and 5,986 households. The median age of residents is 40.45 years.

TEMPERATURE

The temperature in Bonita is relatively moderate. The warmest time of year occurs in July during which temperatures reach an mean high of 70°F. The coldest time of year occurs in January with mean temperatures diminishing to 57° F.

HOME AND REAL ESTATE PRICES

The housing options in Bonita include single-family homes and properties, condominiums, townhouses, and apartments. The price of housing is as follows:

·One bedroom townhouse/condominium start in the mid 0,000s.

·Two bedroom townhouse/condominium start in the low 0,000s.

·Three bedroom townhouse/condominium start in the low 0,000s.

·Two bedroom single-family homes start in the high 0,000s.

·Three bedroom single-family homes start in the mid 0,000s.

·Four bedroom single-family homes start in the low 0,000s.

REAL ESTATE MARKET TRENDS

As with most products and services in the United States, price shifts in the real estate diligence are subject to the forces of supply and demand. Whether it’s a buyers market or a seller’s market, it is useful to evaluate home sales data for the most recent month unfilled (June 2006), compared against the same period in the previous year (June 2005).

The median price of single-family homes dropped from 9,990 in June 2005 to 2,500 in June 2006, which represents a 7.9% decline. But, more homes sold in June 2006 (20 homes) than in June 2005 (7 homes). The mean time to sell a home increased slightly from 68 days in June 2005 to 69 days in June 2006. The ratio between the asking price to the sales price increased over the past 12 months. On mean, sellers obtained 93.6% of their asking price in June 2005, and 94.5% of their asking price in June 2006.

Homebuyers and home sellers should keep in mind that the data above is simply a snapshot in time. Therefore, the data must be evaluated over a longer duration to know enduring market trends.

Carlsbad, San Diego, Real Estate Market Trends and Community Information, August 2006

COMMUNITY INFORMATION

Carlsbad is situated in the northern coastal part of San Diego County within the disorder of California. There are approximately 87,540 residents in this community and 34,052 households. The median age of residents is 38.89 years.

TEMPERATURE

The temperature in Carlsbad is relatively moderate. The warmest time of year occurs in July during which temperatures reach an mean high of 69. The coldest time of year occurs in December with mean temperatures diminishing to 55F.

HOME AND REAL ESTATE PRICES

The housing options in Carlsbad include single-family homes and properties, condominiums, townhouses, and apartments. The price of housing is as follows:

·One bedroom townhouse/condominium start in the mid 0,000s.

·Two bedroom townhouse/condominium start in the high 0,000s.

·Three bedroom townhouse/condominium start in the high 0,000s.

·Two bedroom single-family homes start in the mid 0,000s.

·Three bedroom single-family homes start in the high 0,000s.

·Four bedroom single-family homes start in the mid 0,000s.

REAL ESTATE MARKET TRENDS

As with most products and services in the United States, price shifts in the real estate diligence are subject to the forces of supply and demand. Whether it’s a buyers market or a seller’s market, it is useful to evaluate home sales data for the most recent month unfilled (June 2006), compared against the same period in the previous year (June 2005).

The median price of single-family homes dropped from 3,900 in June 2005 to 9,900 in June 2006, which represents a 4.3% decline. Fewer more homes sold in June 2006 (49 homes) than in June 2005 (95 homes). The mean time to sell a home increased from 39 days in June 2005 to 58 days in June 2006.

The median price of condominiums and townhomes decreased from 1,000 in June 2005 to 4,500 in June 2006, which represents a 9.7% decline. Fewer units sold in June 2006 (36 units) than in June 2005 (84 units). The mean time to sell a unit increased from 43 days in June 2005 to 58 days in June 2006.

Homebuyers and home sellers should keep in mind that the data above is simply a snapshot in time. Therefore, the data must be evaluated over a longer duration to know enduring market trends.

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Carmel Valley, San Diego, Real Estate Market Trends, School & Community Information, August 2006

COMMUNITY INFORMATION

Carmel Valley is a master-plotted community located in northern San Diego County within the disorder of California. The community of Carmel Valley within San Diego is not to be baffled with the Carmel Valley region in Northern California.

Carmel Valley lies within the 92130 Zip Code. There are approximately 34,471 residents in this Zip code and 12,387 households. The median age of the population is 35.16 years.

TEMPERATURE

The temperature in Carmel Valley is relatively moderate. The warmest time of year occurs in August during which temperatures reach an mean high of 72°F. The coldest time of year occurs in December with mean temperatures diminishing to 56° F.

HOME AND REAL ESTATE PRICES

The housing options in Carmel Valley include single-family homes and properties, condominiums, townhouses, and apartments. The price of housing is as follows:

·One bedroom townhouse / condo starts in the high 0,000s

·Two bedroom townhouse / condo starts in the high 0,000s.

·Three bedroom townhouse / condo starts in the low 0,000s

·Three bedroom single-family house starts in high 0,000s

·Four bedroom single-family home starts in low 0,000s

REAL ESTATE MARKET TRENDS

As with most products and services in the United States, price shifts in the real estate diligence are subject to the forces of supply and demand. Whether it’s a buyers market or a seller’s market, it is useful to evaluate home sales data for the most recent month unfilled (June 2006), compared against the same period in the previous year (June 2005).

The median price of single-family homes reached ,080,000 in June 2006, which was a 13.74% increase over June 2005. In contrast, the median price of condominiums and townhomes decreased to 0,000, which was a 7.2 decline from the year before.

Homebuyers and home sellers should keep in mind that the data above is simply a snapshot in time. Therefore, the data must be evaluated over a longer duration to know enduring market trends.

SCHOOL INFORMATION

There are two School Districts that serve residents of Carmel Valley. The Solana Beach School District covers the elementary schools in the northern part of Carmel Valley, and the Del Mar Union School District covers the southern region.

Students in Carmel Valley schools undergo annual hard to evaluate their academic performance. The results of these tests are collective by the California Department of Education into a composite score known as the Academic Performance Index (API), which has a array of 200 to 1000. The statewide goal for schools is to achieve a score of 800 or above.

Based on the most recent data unfilled as of July 31, 2006, the highest-ranking elementary school in the Carmel Valley area was Sage Canyon Elementary (API = 963), followed by Torrey Hills School (API=950), Carmel Creek Elementary

(API=946), Solana Pacific Elementary (API=945), Ashley Falls Elementary (API=943), and Carmel Del Mar Elementary (API=917). Carmel Valley Middle School earned an API of 931. For high schools, Canyon Crest Institution had an API=842, and Torrey Pine High had an API =821.

Chula Vista, San Diego, Real Estate Market Trends and Community Information, August 2006

COMMUNITY INFORMATION

Chula Vista is situated in the southern region of San Diego County within the disorder of California. There are approximately 194,939 residents in this community and 62,394 households. The median age of residents is 32.89 years.

TEMPERATURE

The temperature in Chula Vista is relatively moderate. The warmest time of year occurs in August during which temperatures reach an mean high of 72°F. The coldest time of year occurs in December with mean temperatures diminishing to 57°F.

HOME AND REAL ESTATE PRICES

The housing options in Chula Vista include single-family homes and properties, condominiums, townhouses, and apartments. The price of housing is as follows:

·One bedroom townhouse/condominium start in the high 0,000s.

·Two bedroom townhouse/condominium start in the high 0,000s.

·Three bedroom townhouse/condominium start in the mid 0,000s.

·Two bedroom single-family homes start in the high 0,000s.

·Three bedroom single-family homes start in the low 0,000s.

·Four bedroom single-family homes start in the high0,000s.

REAL ESTATE MARKET TRENDS

As with most products and services in the United States, price shifts in the real estate diligence are subject to the forces of supply and demand. Whether it’s a buyers market or a seller’s market, it is useful to evaluate home sales data for the most recent month unfilled (June 2006), compared against the same period in the previous year (June 2005).

The median price of single-family homes dropped from 0,000 in June 2005 to 5,000 in June 2006, which represents a 2.5% decline. Fewer more homes sold in June 2006 (127 homes) than in June 2005 (171 homes). The mean time to sell a home increased from 47 days in June 2005 to 66 days in June 2006.

The median price of condominiums and townhomes decreased slightly from 2,250 in June 2005 to 2,000 in June 2006, which represents a .1% decline. Fewer units sold in June 2006 (46 units) than in June 2005 (80 units). The mean time to sell a unit increased from 52 days in June 2005 to 85 days in June 2006.

Homebuyers and home sellers should keep in mind that the data above is simply a snapshot in time. Therefore, the data must be evaluated over a longer duration to know enduring market trends.

Coronado, San Diego, Real Estate Market Trends, Single-family Homes, Mid Year Breakdown, 2006

The community of Coronado is located on the inner coast of San Diego County. This 13.5 square mile peninsula is reachable via the legendary Coronado Bay Bridge, by water ferry from Downtown San Diego, or through Imperial Beach via highway 75.

The real estate and homes for sale in Coronado are some of the most pricey properties in San Diego County. The number of homes sold in a particular year is relatively low. For example, during the period from January through July 2006, approximately 64 single-family homes sold. Approximately 79 homes sold for the same period in 2005. The price of homes in Coronado varies widely from moderately priced small cottages to multi-million dollar estates.

One method to analyze pricing trends for a particular community is to evaluate the median and mean price of homes for a particular month, and compare that data against the same period last year. What follows is a comparison of the median price and mean price of homes for the past seven months (January through July 2006), compared against the data for the corresponding time period in 2005.

The median price of homes represents the point at which half the homes are above a particular price point, and half the homes are below a particular price point. The mean price of homes is calculated by adding up the sales price of all homes sold in a particular month, and dividing that value by the number of homes sold.

The median price of homes in July 2006 was ,505,000, compared to ,481,250 in July 2005, which represents a 1.6% increase. The mean price of homes in July 2006 was ,795,179, compared to ,603,214 in July 2005, which represents an 11.5% drop. Approximately 7 homes sold in July 2006 and 14 in July 2005. In summary, the data was mixed for July 2006, with the median price posting a small increase and the mean price dropping 11.5%.

The median price of homes in June 2006 was ,775,000, compared to ,570,000 in June 2005, which represents a 13.1% increase. The mean price of homes in June 2006 was ,998,860, compared to ,778,214 in June 2005, which represents a 12.4% increase. Approximately 15 homes sold in June 2006 and 21 in June 2005. In summary, the data provides evidence that there was an upward price trend in June 2006 compared to the same period last year.

The median price of homes in May 2006 was ,200,000, compared to ,390,000 in May 2005, which represents a 13.7% drop. The mean price of homes in May 2006 was ,576,429, compared to ,615,692 in May 2005, which represents a 2.4% drop. Approximately 7 homes sold in May 2006 and 13 in May 2005. In summary, the data provides evidence that there was a downward price trend in May 2006 compared to the same period last year.

The median price of homes in April 2006 was ,250,000, compared to ,450,000 in April 2005, which represents a 55.2% increase. The mean price of homes in April 2006 was ,667,200, compared to ,731,524 in April 2005, which represents a 54% increase. Approximately 10 homes sold in April 2006 and 7 in April 2005. In summary, the data provides evidence that there was a significant upward price trend in April 2006 compared to the same period last year.

The median price of homes in March 2006 was ,650,000, compared to ,780,000 in March 2005, which represents a 7.3% drop. The mean price of homes in March 2006 was ,219,667, compared to ,774,667 in March 2005, which represents a 25.1% increase. Approximately 15 homes sold in March 2006 and 9 in March 2005. In summary, the data was mixed for March 2006, with a drop in median price and an increase in mean price.

The median price of homes in February 2006 was ,185,000, compared to 5,000 in February 2005, which represents a 35.4% increase. The mean price of homes in February 2006 was ,327,000, compared to ,011,667 in February 2005, which represents a 31.2% increase. Approximately 5 homes sold in February 2006 and 3 in February 2005. In summary, the data provides evidence that there was an upward price trend in February 2006 compared to the same period last year.

The median price of homes was ,700,000 in January 2006, compared to ,531,500 in January 2005, which represents an 11% increase. The mean price of homes in January 2006 was ,599,000, compared to ,717,750 in January 2005, which represents a 6.9% drop. Approximately 5 homes sold in January 2006 and 12 in January 2005. In summary, the data was mixed for January 2006, with a jump in median price and a decline in mean price.

So what does the above data tell us? Overall, there was a 19% decline in the number of homes sold during this period from 2006 to 2005. Besides that, the Coronado real estate market is very hard to described because of the limited number of homes that sell each month, and the wide variation in home prices. The median and mean prices fluctuated substantially depending on whether or not very pricey homes sold that month or not. Prospective home buyers should seek the advise of an experienced real estate agent to help them know the micro pricing trends of homes in their price array.

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Tips For Military Home Buyers Who Are Buying San Diego Real Estate

San Diego County is home to one of the largest concentrations of military bases in the United States. In fact, the San Diego area contains 12 major Marine Corps and Navy bases and facilities. If you’re in the military and moving to San Diego, one of your largest decisions is whether to buy a property, live on base housing (if this option is unfilled to you), or rent a home or apartment. If you choose to buy a property, there are many issues to consider before taking this step.

BUY OR RENT?

The choice to buy or rent is more complicated for military personnel because you may be assigned to San Diego only for a limited period of time. If you plot to hold even as in San Diego and then sell when you transfer, the condition of the real estate market at the time you sell will make this either an simple or hard process. In a seller’s market (when demand exceeds supply), properties tend to sell quickly and at or above asking price. In a buyer’s market (when supply exceeds demand), properties usually take much longer to sell and may sell below asking price. Individuals in the military should consider this come forth in determining whether to buy or rent real estate in the San Diego area.

For those who choose to buy, the major other consideration is the likely appreciation rate of your property during your tenure in San Diego. If you plot to sell your property before you depart to your next assignment, you should remember that there are expenses (e.g. realtor fees, taxes, etc.) associated with selling your house, and any price appreciation you realize by owing the property for a few years, may or may not be offset by these fees.

Some individuals choose to keep their property even after they transfer to a new assignment outside of San Diego. In these cases, you can rent out the property, leave it empty, or find another acceptable use of the abode. If you choose to hire a Property Manager to oversee the renting and maintenance of your property, keep in mind that the fess for this service will cut into any monthly profit you realize on the property.

GETTING A HOME LOAN?

If you choose to hold a property, obtaining a home loan is one of the tasks you must undertake. Many active-day members, retirees and other service veterans are eligible for special loan programs guaranteed by the Veterans Administration (VA).

To be eligible for a VA guaranteed loan, you must have served on activity duty and have a discharge status of other than dishonorable after a minimum of 90 days of service during wartime, or a minimum of 181 continuous days during peacetime. There is a minimum 2-year service requirement for veterans who enlisted after September 7, 1980. The 2-year requirement also applies to Officers who started service after October 16, 1981. There is a minimum 6-year service requirement for National Guard members and Reservists, and surviving spouses are also eligible under some conditions. There are other special conditions in which a self may be eligible, so contact your local VA office to get more information.

WHAT IS VA GUARANTEED LOAN?

The VA loan is a federal promise of a maximum of 25% of a home loan amount but not to exceed 4,250. This formula allows eligible members to take a maximum loan amount of 7,000 (as of 2006). But, service members must meet other eligibility requirements. Individuals borrowing using this type of loan must intend to be occupants of the bought property.

Confidential lenders are the source of funds for VA guaranteed loans. The promise provides these confidential lenders assurance that the federal government will reimburse the lender up to the maximum allowable amount if the borrower fails to reimburse the loan. Because of this promise, lenders are more propitious to offering loans without a requirement for a down payment.

VA CERTIFICATE OF ELIGIBILITY

Individuals desiring a VA guaranteed loan must first take a Certificate of Eligibility from the Veterans Administration (VA Form 26-1880). Contact your local VA office to take this form by calling 1-888-244-6711. You will need a copy of your military discharge document (DD-214) to submit with your application. Once you have the Eligibility Certificate, you can then select a lender or mortgage broker to work with on getting the loan.

CLOSING COSTS

In addition to the hold price of your property, there are closing costs that must be paid to process your home loan. These closing costs are fees that are charged by different service providers to help complete the loan process. For example, your lender will require an appraisal of the property to make sure that its value is at or above your hold price. Other charges commonly built-in in closing costs are: recording fees, credit report fee, prorated taxes and assessments, hazard insurance, flood insurance (if required), survey, title examination, title insurance, postage and shipping fees, and the VA Funding fee.

WHAT IS THE VA FUNDING FEE?

The VA charges a fee to individuals utilizing the VA guaranteed loan. This fee is a percentage of the loan amount and is linked to the size of your down payment on the home you plot to hold.

For active-duty personnel or veterans who place no money down, the funding fee is 2.15% of the loan amount. This rate increases to 2.4% for National Guard/Reserve.

For active duty personnel or veterans who place a down payment superior than zero but less than 10% of the loan amount, the fee is 1.5% of the loan. This rate increases to 1.75% for National Guard/Reserve.

For active duty personnel or veterans who place a down payment of 10% or more of the loan amount, the fee is 1.25% of the loan. This rate increases to 1. 5% for National Guard/Reserve.

The rates listed above are for first time users of the VA loan promise program. Individuals who have used the VA guaranteed loan program before pay higher rates than first time users. The rates above are subject to change. In some limited cases, individuals are exempt from paying the funding fee. You should contact your local VA center for current information.

CHOOSING A VA LOAN VS. A CONVENTIONAL LOAN

You must carefully evaluate the terms of the VA guaranteed loan vs. the terms of a conventional loan. One advantage of a VA guaranteed loan is that many lenders will not require you to place a down payment on the hold of the property, assuming you meet their other lending criteria (e.g. credit scores, ample income, adequate debt to income ratio, etc.). There are also many zero down payment conventional loan programs. In some cases, the VA guaranteed loan will place forward a lower appeal rate and better terms, and in other cases, you can take a better deal through conventional financing. A excellent loan officer can help you evaluate the advantages of either loan, given your particular situation.

FINDING THE RIGHT HOME

If you are familiar with the San Diego area, then you probably already know where you want to live. If you are less familiar with the communities in San Diego, your Realtor can serve as an brilliant resource to answer your questions. There are many steps to take during the home search process, which include:

1. Work with your loan officer to identify how much you can afford.
2. Determine what type of property you want to buy (single-family home, townhouse, condominium, other). Your Realtor can advise you about the differences between these types of properties.
3. Determine how many bedrooms, bathrooms, square footage, etc. you need.
4. Determine what areas of San Diego you would consider living in.
5. Calculate the drive time (with and without traffic) to your job.
6. Identify the quality of schools in the neighborhoods that you are taking into account.
7. Locate the crime statistics for the neighborhood that you are taking into account.
8. Identify the location of local community resources such as libraries, shopping centers, athletic centers, etc.
9. Question your Realtor to advise you about the resale potential of the home you are taking into account.

Although there are many other factors to consider, the above is a excellent starting point. Your Realtor should be able help you get answers to the questions above as well as provide you many other resources. Keep in mind that most Realtor’s who help homebuyers and paid by the home seller, but make sure to question your Realtor about this.

HOW MUCH SHOUD I PAY FOR A HOUSE?

Your Realtor should be an brilliant source of information to help you know a honest place forward price. The Realtor should provide you information about what other similar properties in the same community have sold for recently, current pricing trends for the community, as well provide you a sanction based on their experience in the local market.

DO I NEED A HOME INSPECTION?

There are many other issues besides the place forward price to consider when making an place forward. For example, many buyers find it advantageous to get an inspection of the property by a certified inspector. The inspection typically covers the major systems of a property. Check out the National Association of Home Inspectors web site for more information about what is covered in a predictable home inspection. Getting a home inspection is generally a excellent thought.

HOW LONG WILL THIS TAKE?

If you want to use the VA promise, then make sure you have obtained the Certificate of Eligibility far in advance of your relocation to San Diego. Whether or not you are using the VA loan program, be sure to take a loan pre-approval (sometimes called loan prequalification) from a lender or mortgage broker. This lets home sellers know that you are a honest buyer and are equipped to act quickly if needed.

Prior to moving to San Diego, get a sense of the local real estate market. Your Realtor can set up an automatic email notification system that will send you similes and pictures of properties that meet your criteria. Dependability this type of research should save you a lot of time when you arrive.

Once you have your loan pre-approval, the next step is to locate a property that meets your needs. Your Realtor should show you a variety of unfilled properties that meet your criteria. Once you find a house you an interested in, your Realtor will arrange the hold place forward documents, and guide you through the loan and closing process.

In summary, it’s simply a process of getting a loan, finding a house that you like, making an place forward that is accepted, and vacant through the closing process, which can occur in less than 30 days.

CONTACT A SAN DIEGO REALTOR

If you are moving to San Diego, contact a Real Estate agent who is familiar with VA guaranteed loans and has experience working with military buyers. Many agents have prior military service themselves, and are very familiar with your situation and needs.

The May edition of This Month in Real Estate looks at the effect of the home buyer tax credit, the overall health of the housing economy and what sellers can do to make the most of the market
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Key Shifts In San Diego County Demographic Patterns – Real Estate Implications

On August 15, 2006, the US Census Bureau unrestricted its annual statistics for innumerable communities. The data for San Diego County revealed some significant shifts from 2000 to 2005 in terms of the total population in San Diego, the percentage of males to females, percentage of people at innumerable ages, and the racial arrangement of the County.

POPULATION SHIFTS

Total Population = 2,813,833 (CY 2000) vs. 2,824,259 (CY 2005) = 0.4% increase

Of the total population, there were shifts in the percentage of males to females.

Males = 1,415,097 (CY 2000) vs. 1,400,199 (CY 2005) = 1.1% decline.

Females = 1,398,736 (CY 2000) vs. 1,424,060 (CY 2005) = 1.8% increase.

AGE CHANGES

The percentage of people at innumerable age also changed during this time period.

Median Age = 33.2 years (CY 2000) vs. 34.4 years (CY 2005) = 3.6% increase.

Population Under 5 Years of Age = 198,621 (CY 2000) vs. 221,575 (CY 2005) = 11.6% increase.

Population Under 18 Years of Age = 2,090,172 (CY 2000) vs. 2,067,282 (CY 2005) = 1.1% decline.

Population 65 or Older = 313,750 (CY 2000) vs. 310,836 (CY 2005) = 0.9% decline.

RACIAL COMPOSITION

Of individuals who certain themselves as belonging to one-race, the following statistics were provided:

Total Number of “One-Race” Individuals = 2,681,866 (CY 2000) vs. 2,730,721 (CY 2005) = 1.8% increase.

Individuals who certain themselves as belonging to one-race, were additional categorized as follows:

White = 1,871,839 (CY 2000) vs. 1,927,166 (CY 2005) = 3% increase.

Black or African American = 161,480 (CY 2000) vs. 140,181 (CY 2005) = 13.2% decrease.

American Indian and Alaska Native = 24,337 (CY 2000) vs. 19,902 (CY 2005) = 18.2% decrease

Asian = 249,802 (CY 2000) vs. 295,926 (CY 2005) = 18.5% increase

Native Hawaiian and Other Pacific Islander = 13,561 (CY 2000) vs. 12,704 (CY 2005) = 6.3% decline.

Other Race = 360,847 (CY 2000) vs. 334,842 (CY 2005) = 7.2% decline.

Of those individuals who certain themselves as belonging to “two-races”, the following statistics were provided:

Total, Two -Race Individuals = 131,967 (CY 2000) vs. 93,538 (CY 2005) = 29.1% decline.

Hispanic or Latino (of any race) = 750,965 (CY 2000) vs. 843,901 (CY 2005) = 12.4% increase.

SHIFTS IN HOUSEHOLD CHARACTERISTICS

Total Household Population = 2,716,820 (CY 2000) vs. 2,824,259 (CY 2005) = 4% increase.

Mean Household Size = 2.73 (CY 2000) vs. 2.71 (CY 2005) = 0.7% decrease.

Mean family size = 3.29 (CY 2000) vs. 3.33 (CY 2005) = 1.2% increase.

IMPLICATIONS FOR SAN DIEGO REAL ESTATE

If you are interested in buying San Diego real estate, homes, condos or townhouses for sale, then the above information may be useful to you. The information above can help you know demographic and population shifts that impact supply, demand, and price of real estate and homes for sale in San Diego.

San Diego is one of the most well loved areas in the Country because of its moderate climate. In fact, the year-around mean weather in San Diego is around 70 degrees Fahrenheit.

San Diego real estate is also well loved because of its proximity to the Pacific Ocean, mountains and the US-Mexico border. Bordered by Orange County and Riverside County to the north, and the Mexico to the south, San Diego real estate has hundreds of beachfront properties for sale.

San Diego is the sixth most populated County in the Nation. With this many people, buying real estate in San Diego can be a competitive process depending on the supply and demand of real estate and homes for sale at a particular time.

Even as appeal rates are still relatively low and supply relatively high, buyers at this time may find San Diego real estate a excellent value.

Those who hold San Diego real estate delight in year-around perfect weather, simple access to the Mexico border, a thriving job market, and the pleasures of living accurate to an ocean.

Whether you are interested in boating, fishing, golfing, tennis or other leisure activities, residents and visitors who own San Diego real estate have access to all these activities and more.

Please visit the Census Bureau’s web site for detailed demographic information about San Diego County. The Census Bureau provides key statistics for innumerable communities in its annual American Community Survey (ACS) report.

Inner San Diego Real Estate Market – Mid Year Snapshot Of Median Prices (2006) – Single Family Homes

Inner San Diego Real Estate Market – Mid Year Snapshot of Median Prices (2006) – Single Family Homes

As of this writing, the San Diego real estate markets appears to have shifted from one that favors sellers to one that favors buyers. But, this premise may not hold right for all communities within San Diego, as median prices for some communities continue to rise even as others fall.

Even as there are many metrics to evaluate the real estate pricing trends of a community, one commonly used parameter is to evaluate the median price of homes from one point in time against a prior point of time. The median price reflects the point at which half the homes are above a particular price point, and half the homes are below a particular price point. The median price metric provides one method to analyze the management of home prices, but should not be used as the sole source of data from which to form conclusions.

The data below is a comparison of median prices for innumerable communities in inner San Diego County, comparing data from June 2005 against data for June 2006. This information is only one metric at a particular point in time, and other metrics or data from future months may support or dispute the pricing trends noted below. For some of the San Diego communities presented below, very few homes sold during June 2006, which diminishes the usefulness of the median price metric.

COMMUNITIES WITH INCREASES IN MEDIAN PRICE – SINGLE FAMILY HOMES – JUNE 2006

The data below pertains only to the sales of single-family homes, and does not include condominiums or townhomes. The data is organized by the magnitude of change in median price, with the highest change in median price presented first.

For the Coronado real estate market, the median price was ,775,000, which represents a 14.7% increase from the same time last year. Approximately 15 homes sold in June 2006 (21 homes sold in June 2005).

For the Point Loma real estate market, the median price was ,024,068, which represents an 11.4% increase from the same time last year. Approximately 20 homes sold in June 2006 (14 homes sold in June 2005).

For the University City (UTC) real estate market, the median price was 0,000, which represents a 10.6% increase from the same time last year. Approximately 5 homes sold in June 2006 (19 homes sold in June 2005).

For the La Jolla real estate market, the median price was ,692,500, which represents a 10.3% increase from the same time last year. Approximately 28 homes sold in June 2006 (38 homes sold in June 2005).

For the Logan Heights real estate market, the median price was 5,000, which represents a 7.6% increase from the same time last year. Approximately 13 homes sold in June 2006 (14 homes sold in June 2005).

For the Paradise Hills real estate market, the median price was 7,500, which represents a 5.7% increase from the same time last year. Approximately 8 homes sold in June 2006 (16 homes sold in June 2005).

For the Mission Hills real estate market, the median price was 7,500, which represents a 3.1% increase from the same time last year. Approximately 11 homes sold in June 2006 (12 homes sold in June 2005).

For the Scripps Ranch (Scripps Miramar) real estate market, the median price was 9,250, which represents a 2.8% increase from the same time last year. Approximately 34 homes sold this month (43 homes sold in June 2005).

For the San Carlos real estate market, the median price was 3,000, which represents a 2.4% increase from the same time last year. Approximately 12 homes sold in June 2006 (16 homes sold in June 2005).

For the Del Cerro real estate market, the median price was 7,500, which represents a 2.1% increase from the same time last year. Approximately 13 homes sold in June 2006 (30 homes sold in June 2005).

For the Normal Heights real estate market, the median price was 6,250, which represents a 1.7% increase from the same time last year. Approximately 20 homes sold in June 2006 (19 homes sold in June 2005).

COMMUNITIES WITH DECREASES IN MEDIAN PRICE – SINGLE FAMILY HOMES – JUNE 2006

The data below pertains only to the sales of single-family homes, and does not include condominiums or townhomes. The data is organized by the magnitude of change in median price, with the highest change in median price presented first.

For the Ancient Town real estate market, the median price was 0,000, which was a 19.1% decline from the same time last year. Approximately 5 homes sold in June 2006 (14 homes sold in June 2005).

For the Golden Hill real estate market, the median price was 1,000, which was a 16.4% decline from the same time last year. Approximately 10 homes sold in June 2006 (13 homes sold in June 2005).

For the Pacific Beach real estate market, the median price was 1,960, which represents a 14.8% decline from the same time last year. Approximately 15 homes sold in June 2006 (19 homes sold in June 2005).

For the Tierrasanta real estate market, the median price was 0,000, which represents a 12.6% decline from the same time last year. Approximately 9 homes sold in June 2006 (17 homes sold in June 2005).

For the North Park real estate market, the median price was 0,000, which represents a 9.7% decline from the same time last year. Approximately 31 homes sold in June 2006 (16 homes sold in June 2005).

For the Institution Grove real estate market, the median price was 5,000, which represents a 5.9% decline from the same time last year. Approximately 38 homes sold in June 2006 (40 homes sold in June 2005).

For the City Heights real estate market, the median price was 0,00, which represents a 5.3% decline from the same time last year. Approximately 17 homes sold in June 2006 (30 homes sold in June 2005).

For the Mira Mesa real estate market, the median price was 0,000, which represents a 4.7% decline from the same time last year. Approximately 45 homes sold in June 2006 (47 homes sold in June 2005).

For the Linda Vista real estate market, the median price was 0,000, which represents a 4.2% decline from the same time last year. Approximately 16 homes sold in June 2006 (17 homes sold in June 2005).

For the Mission Valley real estate market, the median price was 0,000, which represents a 3.8% decline from the same time last year. Approximately 7 homes sold in June 2006 (18 homes sold in June 2005).

For the Encanto real estate market, the median price was 5,000, which represents a 3.3% decline from the same time last year. Approximately 36 homes sold in June 2006 (47 homes sold in June 2005).

For the Clairemont real estate market, the median price was 5,000, which represents a 2.6% decline from the same time last year. Approximately 30 homes sold in June 2006 (34 homes sold in June 2005).

For the Sorrento Valley real estate market, the median price was 1,000, which represents a 1% decline from the same time last year. Approximately 6 homes sold in June 2006 (5 homes sold in June 2005).

ADVISORY

Homebuyers and home sellers should keep in mind that the data above is simply a snapshot in time, and is not conclusive of the pricing trends for any community. For some communities presented above, very few homes were sold during June 2006, which makes the use of the median price metric of limited value. The data must be evaluated over a longer duration, and involve multiple metrics to fully know enduring market trends. Contact your Realtor to take information about enduring market trends for any given community.

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