Tag Archives: point

Fed Raises Key Interest Rate Slightly

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WASHINGTON (AP) — The Federal Reserve is raising interest rates from record lows set at the depths of the 2008 financial crisis, a shift that heralds modestly higher rates on some loans.

The Fed coupled its first rate hike in nine years with a signal that further increases will likely be made slowly as the economy strengthens further and inflation rises from undesirably low levels.

Wednesday’s action signaled the central bank’s belief that the economy has finally regained enough strength 6½ years after the Great Recession ended to withstand modestly higher borrowing rates.

“The Fed’s decision today reflects our confidence in the U.S. economy,” Chair Janet Yellen said at a news conference.

The Fed said in a statement after its latest meeting that it was lifting its key rate by a quarter-point to a range of 0.25 percent to 0.5 percent. Its move ends an extraordinary seven-year period of near-zero borrowing rates. But the Fed’s statement suggested that rates would remain historically low well into the future, saying it expects “only gradual increases.”… read more —>  Fed Raises Key Interest Rate

Moot Point vs. Mute Point

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You may have heard coworkers or acquaintances refer to an inconsequential or irrelevant point as a moot point, or maybe you’ve heard mute point instead. Fans of the TV show Friends may have heard a third variation: moo point (because, according to Joey, a cow’s opinion doesn’t matter). But which expression is correct, and what exactly does it mean?

The correct phrase is moot point. A moot point can be either an issue open for debate, or a matter of no practical value or importance because it’s hypothetical. The latter is more common in modern American English. The term comes from British law where it describes a hypothetical point of discussion used as teaching exercise for law students. This finds its roots in an early noun sense of moot: “an assembly of the people in early England exercising political, administrative, and judicial powers.” …… read more —> http://blog.dictionary.com/moot-point-vs-mute-point/

San Diego Coastal Area Median House Prices thru June, ’10

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MED HOME PRICES 201006 Coast.pdf

Greetings,

The latest in San Diego SOLD home prices through June, 2010.

 

For HOUSES in the 18 different zip codes which I track, the median sold prices look like:  

Ø  Compared to 1 mo ago, 72% of our zips either went up in market value or stayed essentially the same (within +/-5% market value). Here, South Park / Golden Hills leads the pack with a 19% increase and 15 houses sold over the past month.

Ø  Compared to 2 mos ago, the market value of 67% are still either a higher value or stayed essentially the same (within +/-5%) as they were 2 mos ago. Hillcrest / Mission Hills had a 24% increase with 14 houses sold for an increase in market value over those of 2 mos ago.  And, 61% of zips have shown an increase or stayed the same in market value for the past 2 mos straight.

Ø  Compared to 1 year ago, we have 78% with a market value either higher in market value or essentially the same (within +/-5%) compared to 1 yr ago. Here we have South Park / Golden Hills leading the pack with a 69% increase and 15 houses sold above market values of 1 yr ago.

 

To summarize:   KEEP IN MIND THAT SAN DIEGO WAS AMONG THE TOP 2  CITIES IN HOME APPRECIATION (INCREASED MARKET VALUE) FOR THE ENTIRE NATION IN MAR & APR OF THIS YEAR!  I do not have the rankings for May & June yet. Our continued climb upward in market values confirms the efficacy of the national rankings.  The below chart gives you an excellent overview of San Diego by showing the percentage of my tracked zip codes that either increased or held steady in home value:

% ZIPS INCREASED MARKET VALUES

FEB 2010

CONDOS

HOUSES

1 MO AGO

69%

72%

2 MO AGO

54%

67%

1 YR AGO

46%

78%

So bottomline, we continue to improve our property values here in San Diego and for you buyers, prices are continuing to sneak upward although the good news for us all is, interest rates are staying at or very near the lowest interest rates in the last 40 years. What does this mean, what is this crazy person babbling about now?  Simple – buyers can still own a home with a reasonably low monthly mortgage payment amount because interest rates being kept low also keeps your monthly payments low!  And, sellers can still get the max potential out of their property value because low interest rates allows buyers to afford to buy homes!  If interest rates were high, sellers would have to ask less $$ for their property so that buyers could still afford to pay the monthly mortgage. This, in a nutshell, is how interest rates affect home sales or lack of ………

Cheers until we meet again! – Peg
 

Mary “Peg” Heying
REALTOR® – CA DRE License # 01726709

Prudential CA Realty
890 W Washington St.
San Diego, CA 92103
Cell:  (619) 301-8589

San Diego Coastal Area Median House Prices thru May, ’10

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MED HOME PRICES 201005 Coast.pdf

Greetings,

The latest in San Diego SOLD home prices through May, 2010.

 

For HOUSES in the 18 different zip codes which I track, the median sold prices look like:  

Ø  Compared to 1 mo ago, 78% of our zips either went up in market value or stayed essentially the same (within +/-5% market value). Here, Hillcrest / Mission Hills leads the pack with a 30% increase (7 houses sold) and Point Loma comes close with a 28% increase (9 houses sold) above values of the prior month.

Ø  Compared to 2 mos ago, the market value of 72% are still either a higher value or stayed essentially the same (within +/-5%) as they were 2 mos ago. Point Loma (9 houses sold) had a 24% increase in market value over those of 2 mos ago.  And, 61% of zips have shown an increase or stayed the same in market value for the past 2 mos straight.

Ø  Compared to 1 year ago, we have 89% (16 out of 18) with a market value either higher in market value or essentially the same (within +/-5%) compared to 1 yr ago. Here we have Ocean Beach with a 41% increase (10 houses sold) and City Heights with a 37% increase (28 houses sold) above values of 1 yr ago.

 

To summarize:  We are continuing the gentle rise of home market values moving steadily upward and the below chart which shows the percentage of zip codes that either increased or held steady in home value, makes this easy to see:

FEB 2010

CONDOS

HOUSES

1 MO AGO

62%

78%

2 MO AGO

46%

72%

1 YR AGO

62%

89%

Very simply, 1/2 or more than 1/2 of zips for our San Diego home values, both condos & houses, are still heading upward.  Every so often, there is not much more to say unless we resort to irrelevant babble to fill word space. The numbers are saying it all …… It is a perfect time to buy and if you are selling real estate, you should celebrate, your values are finally going up!  Wooooo-hoo, paaaaaarty! 

Best – Peg 
 

Mary “Peg” Heying
REALTOR® – CA DRE License # 01726709

Prudential CA Realty
890 W Washington St.
San Diego, CA 92103
Cell:  (619) 301-8589

San Diego Coastal Area Median House Prices thru Apr, 2010

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MED HOME PRICES 201004 Coast.pdf

Hello Happy Bloggers!

The latest in San Diego SOLD home prices through Apr ’10.

 

For HOUSES in the 18 different zip codes which I track, the median sold prices look like:  

Ø  Compared to 1 mo ago, 72% of our zips either went up in market value or stayed essentially the same (within +/-5% market value). Pacific Beach leads this pack with a 16% increase over values of the prior month.

Ø  Compared to 2 mos ago, the market value of 78% are still either a higher value or stayed essentially the same (within +/-5%) as they were 2 mos ago. University City had a 23% increase along with Ocean Beach & Pacific Beach which both had a 21% increase in market value over the previous 2 mo period.  And, 56% of zips have shown an increase or stayed the same in market value for the past 2 mos straight.

Ø  Compared to 1 year ago, we have 83% (15 out of 18) with a market value either higher in market value or essentially the same (within +/-5%) compared to 1 yr ago. Here we have City Heights with a 35% increase and Pacific Beach with a 24% increase over market values of 1 yr ago.

To summarize:  We are continuing the gentle rise of home market values moving steadily upward. The below chart which shows the percentage of zip codes that either increased or held steady in home value, makes this easy to see:

FEB 2010

CONDOS

HOUSES

1 MO AGO

62%

72%

2 MO AGO

62%

78%

1 YR AGO

62%

83%

For those of you who have not heard, back in Mar of this year, San Diego was #1 in the nation in home value appreciation!  The entire article from Zillow.com can be seen at my blogsite: http://realtorpeg.posterous.com/nationwide-new-home-sales-up-mar-2010 

In a nutshell, our San Diego home values are heading upward. There is one point you need to be aware of. Yes the upward slide is quite gentle, BUT, 2009 saw a RECORD LOW number of building permits taken out with the city of San Diego and 2010 is on track to be the 2nd lowest (to read more, go to: http://realtorpeg.posterous.com/san-diego-building-permits-up-but-down ) !!! Say what? To build houses or condos or to convert apartments into condos, developers / contractors are legally required to obtain building permits from the city which then exams the plans for compliance with local building codes, safety, etc and then the city approves or disapproves their building plans to go forward. So, if less building permits have been taken out, less housing is in the process of being built right now (average time from idea to finish is approx 2 yrs) AND while jobs continue to be generated with the improving economy (to read more, go to: http://realtorpeg.posterous.com/san-diego-business-recovery-has-begun ), we will continue to have population growth and where will all those people live?  In a few years, they will be bidding against each other for rentals and also in home buying which will push home prices upward even faster!  The pendulum swings one way, then the other, and a San Diego housing shortage with price wars always means higher rent or sale prices, hence, our property prices will rise in direct relation to how much people are willing to pay or out-bid others for a place to live! Got the picture?  We have many reasons to see prices continue upward in San Diego.

I am going to wrap this up now. I realize I do get long-winded, but it is hard to be short & sweet when you are enthusiatic about happening events!

Cheers!  – Peg 
 
Mary “Peg” Heying
REALTOR® – CA DRE License # 01726709

Prudential CA Realty
2830 Shelter Island Dr.
San Diego, CA 92106
Cell:  (619) 301-8589

San Diego Coastal Area Median House Prices thru Mar, 2010

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MED HOME PRICES 201003 Coast.pdf

Greetings Fellow Bloggers,

The latest in San Diego SOLD home prices through Mar ’10.

For HOUSES in the 18 different zip codes which I track, the median sold prices look like:  

Ø  Compared to 1 mo ago, 72% of our zips either went up in market value or stayed essentially the same (within +/-5% market value). Ocean Beach leads this pack with a 56% increase and Kensington / Normal Heights had a 47% increase over values of the prior month.

Ø  Compared to 2 mos ago, the market value of 55% are still either a higher value or stayed essentially the same (within +/-5%) as they were 2 mos ago. Kensington / Normal Heights again had a 47% increase over the previous 2 mo period.  And, 39% of zips have shown an increase or stayed the same in market value for the past 2 mos straight.

Ø  Compared to 1 year ago, we have 94% (17 out of 18) with a market value either higher in market value or essentially the same (within +/-5%) compared to 1 yr ago. Here we have Kensington / Normal Heights again had a 38% increase over market values of 1 yr ago.

 

To summarize:  Woooo-hoo, we are solidly in the realm of moving values! The below chart which shows the percentage of zip codes which either increased or held steady in home value makes this easy to see:

FEB 2010

CONDOS

HOUSES

1 MO AGO

92%

72%

2 MO AGO

62%

55%

1 YR AGO

62%

94%

Need I say more? The numbers are saying it all, the market swung slowly upward in Mar, 2010. If your area of interest is one of those that slumped over the past month or even the past year, have no fear!  If prices are rising in the neighborhood next door, you can bet your bippy that your own neighborhood prices will also begin to rise. Think about it this way, if Walmart raises their prices, you know Target & JCPenney & Kohls & Macys & everybody else will raise their prices also!  It is the nature of our economy. Just look at the oil companys with record profits and our gas prices!  They want money and push prices up as much as they think they can get away with ……… Everybody wants to make money so if sellers think they can get alittle more for their property, they certainly will do exactly that and thus we have increasing values, which in real estate we call “appreciation in value”. 

But, what about you buyers?  Yes, fortunately for you, San Diego is still seeing bargain deals with short sales and bank owned homes which also forces traditional sales by private individuals to sell at these price levels. So if you are in a position to buy now, don’t procrastinate, these bargains will NOT last forever. If you wait too long, prices will be going up during all that time you are waiting to find out that prices are really going up!  It is a fact of history that periods of economic boom eventually end and periods of economic bust eventually end. This period of lower home prices will also end and appears to be in the beginning stages of that as we speak.

For more info on houses & condos in various San Diego zip codes and for other real estate insights, check out any one of these below links (they all basically show the same info):

Best Wishes Until Next Month!  – Peg 

 

Mary “Peg” Heying
REALTOR® – CA DRE License # 01726709

Prudential CA Realty
2830 Shelter Island Dr.
San Diego, CA 92106
Cell:  (619) 301-8589