The Rundown:

While the sales are projected to decline next year in California, the cause behind this trend will not be higher prices. According to the California Association of Realtors (C.A.R.) forecast, the median home price in California will increase only 3.1 percent to $593,450 in 2019, compared to the seven percent increase in 2018. C.A.R. estimate that the home prices will temper in 2019 will be offset by the rise in interest rates which will ultimately compound housing affordability challenges. Potential buyers may choose to wait on the sidelines in such a scenario, which will hamper home sales and curb housing demand in 2019. The C.A.R. forecast shows that in 2019, the average interest rate for a 30-year fixed home loan will increase to 5.2%, against an average rate of 4. 7% in 2018. This may not be a very alarming jump in lending rates, but when coupled with the additional home price rise in 2019, it is bound to impact the affordability of many potential home buyers in California.

Bottom Line:

Buyers -Everybody's asking, will we see a downturn in CA this year? Everything we’re hearing is that prices may not go up at the rate they have been, but should be more in line with inflation, or a little higher. But RATES JUST LOWERED!  Take advantage of these low rates while they are here! If you’ve been on the fence about buying, let’s talk. It’s time to make your move. 

Sellers - Don’t wait until spring. List now to give yourself a leg up before rates rise again. Lower rates mean buyers have more buying power.  When rate rise again, buyers will be less motivated to pull the trigger and affordability will decrease.

Below are a just few buyers needs we are currently trying to fill - if you or someone you know, has a property similar to these and would like to talk about options, call us!

Carlsbad to Solana Beach:
Spacious, detached single family home with pool and views
Minimum 4 beds/2baths/2000sf
Upgraded kitchen and baths
up to $1.2M

Villa Trieste 55+ Community:
3 bedroom condo with nearby garage access

Oceanside/Vista:
Single level ranch style home with views
Minimum 4 beds/2.5 baths/2000sf
3 car garage
Up to $850,000

Carlsbad:
Detached single family home with views
Minimum 3 beds/2baths and 1800sf
3 car garage
Remodeled and modern 

Question? Please ask! We’re here to be a resource.

 

Interest Rates
 (Source: Bankrate.com as of 2/6/2019)

15-yr Loan - 3.68% 
(Down 0.04 from last week)
30-yr Loan - 4.34%
(Down 0.03 from week)

Looking for a referral to a great lender?  We can help!

 

 

Community Spotlight:

Spotlight: Carlsbad 92009

Single Family
Median Sales Price, $1,050,000 (+ 5.0%)
Days on Market Until Sale, 44 (+ 33.3%)
New Listings, 47 (- 4.1%)
Pending Sales, 29 (0.0%)

Townhouse-Condo
Median Sales Price, $475,000 (+ 12.6%)
Days on Market Until Sale, 45 (+ 73.1%)
New Listings, 39(+ 12.9%)
Pending Sales, 25 (+ 47.0%)


North San Diego County Overview:

Single Family
Median Sales Price, $665,000 (+ 2.5%)
Days on Market, 50 (+ 28.2%)
New Listings, 1389 (+ 7.8%)
Pending Sales, 738 (- 3.3%)

Townhouse-Condo
Median Sales Price, $445,000 (+ 7.0%)
Days on Market Until Sale, 42 (+ 44.8%)
New Listings, 485  (+ 15.8%)
Pending Sales, 296 (+ 4.6%)


Recently Sold:

SOLD:

  • 5624 Golden Trails Way, Oceanside CA 92057 - $620,000

  • 6611 Santa Isabel Street #105, Carlsbad CA 92009 - $649,000

  • 3221 Rancho Arroba, Carlsbad CA 92009 - $805,000

  • 2959 Cape Cod Circle Carlsbad, CA 92010 - 595,000

Pending:

New Listings: