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Tag: Real estate market

Mortgage rates hit two-year high!

The average weekly rate for a 30-year fixed-rate mortgage jumped to a two-year high, Freddie Mac said on Thursday.

The rate is now 4.58%, up from 4.4% the prior week. That is the highest level for the 30-year in more than two years, since it hit 4.6% on July 7, 2011, according to Freddie Mac spokesman Chad Wandler. Wandler attributed the increase to an improving housing market

Rising rates could also affect the housing market going forward. A recent survey by real estate company Trulia found that an increase in mortgage rates was the prime concerns among 41% consumers, who worried about that more than price increases.

The 30-year rate hit an all-time low of 3.31% on Nov. 21, 2012. Since then, the 30-year has bounced around, sinking back down to 3.35% on May 2, 2013. The runup to the current two-year high has all occurred in the last three months.  That said, homes also continue rising, tot he point the that the real estate marketing is recuperating itself slowly, balancing the rise on mortgage rates and house prices!

If you have been thinking of buying or selling a home, we have the experience to get you the house of your dreams. Please call today at 619-665-5360 or email Jason@MetroSDRealty.com to find how to get the process started!

 

Jason Coriano Jason Coriano

MIssion Hills Recent Home Sales!

Mission Hills, zip code 92103 had 9 home sales in the past 7 days, please see below for details:

Address Bed/Bath Sq. Ft. Sale Price
475 Redwood St #104 1/1 670 $310,000
3666 3rd Ave #304 2/2 1,051 $375,000
3688 1st Ave #17 2/2 943 $380,000
3819 1st Ave #209 2/4 922 $395,000
3100 Sixth Ave #203 2/2 1,071 $509,000
3844 Albatross St 1/2 1,128 $480,000
3533 Columbia St 3/3 1,972 $640,000
4252 Aloha Pl 3/2 2,224 $1,020,000
2500 6th Ave #1006 2/3 2,625 $2,075,000

 

Mission Hills had an average sale price of $713,833 with an average of 1,401 sq. ft. Thus making an average of $459 per sq. ft. Even though the real estate market seems to be slowing down, Mission Hill’s numbers have been steady. The price per square footage has stayed almost the same compared to last weeks going up only by a $1.

If you would like to buy a home in Mission Hills, we have the experience to get you the house of your dreams. Please call today at 619-665-5360 or email Jason@metrosdrealty.com to find how to get the process started!

 

Jason Coriano Jason Coriano

Downtown Recent Home Sales!

Downtown had 15 sales in the past 7 days! See table below for more details:

Address Bed/Bath Sq. Ft. Sale Price
Union Square 1/1 720 $170,000
Acqua Vista 2/1 873 $291,000
Treo 1/1 772 $360,000
Union Square 2/2 1,083 $350,000
Park View 3/2 1,126 $358,500
Park Row 2/1 1,017 $405,000
Solara Lofts 1/1 978 $436,500
Bella Via 1/2 1,005 $465,000
La Vita 2/2 958 $505,000
Cortez Blu 2/2 1,217 $540,000
City Walk 2/2 1,332 $590,000
The Legend 2/3 1,806 $780,000
Meridian 2/2 2,090 $888,000
Park Place 2/2 1,268 $985,000
Bayside 2/3 1,811 $1,475,000

 

This week there was an average sales price of $589,437 and an average of 1,204 sq. ft. Thus making a total of $455 per sq. ft.

That said, Downtown doesn’t seem to be slowing down any time soon. Even though mortgage rates have gone up, buyers will always be interested in Downtown’s real estate. Its desirable central area will and prime nightlife locations will keep the market running all year.

if you have been thinking of selling or buying a home, please call today to receive a free estimate of your home or find out what is available in the market.

Call us today at 619.665.5360 or email Jason@metrosdrealty.com

Jason Coriano Jason Coriano

Mission Hills Recent Home Sales!

Mission Hills, zip code 92103 had 6 home sales in the past 7 days, please see below for details:

Address Bed/Bath Sq. Ft. Sales Price
4355 Tenth Ave 1/1 447 $425,000
3707 Indiana Street 3/3 1,450 $615,000
3606 Union St 3/3 1,238 $660,000
2104 Pine St 3/2 2,554 $951,000
1840 Neale St 2/2 1,825 $995,000
2718 1st Ave 3/3 2,218 $1,072,500

 

Mission Hills had an average sale price of $801,998 with an average of 1,622 sq. ft. Thus making an average of $552 per sq. ft. Mission Hills has been a very competitive market due to its desirable locations and friendly neighborhoods.

We specialize in the Metro area! We have the experience to get you the house of your dreams. Please call today at 619-665-5360 or email Jason@metrosdrealty.com to find how to get the process started!

Jason Coriano Jason Coriano

Things to know about open houses!

Nearly half of real estate buyers attend an open house since they tend to be a great source of information about the property, neighborhood and local markets. That said, there are some things you need to be aware, specially since 94% of sellers do some staging to the property by repainting or bringing in new furniture that can distract the buyers and overlook important things.

While there, don’t be afraid to lift rugs to look at floors, talk to the neighbors about the neighborhood or ask the agents any questions you may have such as, whether there have been any upgrades to the property, or if they gotten any offer’s.

An open house is your opportunity to to pick up details otherwise wouldn’t have been able to be seen on the listing, so pay attention and ask away! Don’t forget to also explore the neighborhood so you can get a sense of the area, and the surrounding streets.

If you are thinking of selling your home, we are here to get the process started! Please contact us today at 619.665.5360 or email Jason@metrosdrealty.com to know more about our service and open house dates.

 

 

Jason Coriano Jason Coriano

Sellers have the advantage on home deals!

According to a survey done by CNN, 42% of the people shopping for homes placed offers in the past six month, yet only 11% of the bids were accepted. Many who were searching for a home have been on the hunt for more than a year willing to compromise on where to live or the type of home they would buy in order to close a deal.

A majority of buyers are also willing to look beyond their preferred locations not minding to live farther from work, from family or from restaurants and shopping centers. Such compromise, high demand, low inventory and low rates have brought the sellers into a more favorable position.

WIth fewer homes for sale and more buyers coming onto the market, sellers are less willing to negotiate on price like they were during the housing bust. That said, if you are thinking of selling your home you have the upper hand for the first time in years. Please call us at 619-665-5360 or email Jason@MetroSDRealty.com for a free estimate of your home and how we plan to sell it fast and for the best price.

Jason Coriano Jason Coriano

Mission Hills Recent Home Sales!

Mission Hills, zip code 92103, sold 9 homes this past week. See details below:

Address Bed/Bath Est. Sq. Ft. Sold Price
3795 Georgia St #106 1/1 694 $230,000
3450 2nd Ave #38 2/2 1,055 $383,000
1270 Cleveland Ave #7 2/2 949 $405,000
4204 3rd Ave #7 2/3 1,308 $426,500
1251 Lincoln Ave 2/1 1,428 $555,000
475 Redwood St #702 2/2 1,168 $540,000
4180 3rd Ave #1 2/2 1,421 $615,000
2038 Fort Stockton Dr 3/4 1,964 $795,000
3755 Pringle St 3/4 3,532 $1,590,000

That said, Mission Hills continues to be a great opportunity for investment, homes seem to be flying off the market by every week. Do not wait until is too late to buy!
Mission Hills had 9 home sales with an average sale price of $714,380 and an average of 1,760 sq. ft. Thus making an average of $394 per sq. ft.

Call us today to help you find your dream home! We understand buying a property is your biggest investments, for that reason, we pride ourselves on giving each of our clients the best service possible.

Contact us at 619-665-5360 or email Jason@metrosdrealty.com

Jason Coriano Jason Coriano

Home sales set to increase in 2012

INFO THAT HITS US WHERE WE LIVE…The famous President’s sage advice from a century ago is still the appropriate approach to today’s housing market. In the midst of all the media noise, it’s always good to check what we do have and where we really are. For example, the Census Bureau reported that although the median sale price of new homes in October was down 15% over the last five years, it’s actually up 26% over the last ten. More evidence that housing still is a good investment over the long term.

A recent economic forecast from the National Association of Realtors (NAR) reportsexisting home sales are expected to grow by 1.2% this year and 5.1% in 2012.And although the median existing home price is predicted to dip about 4% this year, it should recover and go UP 2.6% in 2012. Sales should also jump to 5.22 million units from this year’s projected 4.97 million.

Jason Coriano Jason Coriano

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