San Diego Real Estate Market Recap for 2012

As we said goodbye to 2012, we also look at the positive occurrences in the real estate market in the area. San Diego saw home values increase, competition rose, and prospects for a steady recovery was seen for 2013. A look will show the main developments that helped the real estate market in 2012 and what we can expect to see in 2013.

Increase in Home Prices

During the off-season home prices in the San Diego rose. In November of 2012, the median home price was $358,000, which was a huge 14% increase when compared to the same time period in 2011.

Decrease in Inventory

The smaller amount of homes on the market may discourage potential homebuyers but is it great news for home sellers. In addition, it often helps raise the price of homes. Right now there are only 5,300 active listings which is about half of what was seen last year at the same time. This makes competition for buying a home strong. For anyone waiting to see if home prices are going to rise even more now may be the best time to list their home while the inventory is low and interest rates are low.

Shorts Sales more than Foreclosures

Finally, after years of most homes on the market being in some stage of foreclosure, there was a drop in homes that were underwater in 2012. Short sales which are homes in which the owners may sell for less that what they owe on the home are being seen more than foreclosures. This change shows a slow improvement in the economy and allows lenders and homeowners more benefits.

Banks Coming to the Aid

California Attorney General Kamala Harris won a $25 billion mortgage settlement to hold banks accountable for any unfair foreclosures. Critics believe the deal is not sufficient with all the recession losses. However, it does offer more bank sponsored aid to consumers than in the last few years, which helps to stop the trend toward foreclosure and start the slow trend to repair the market.

Mortgage Rates Decreased

In 2012, mortgage rated dropped quite a bit as reported by Freddie Mac while current mortgage interest rates are now below 4 percent. This mortgage rank is historically low and is a good sign for buyers that have good credit. The Federal Reserve plan to keep the rates down to help individuals buy homes and refinance mortgages.

Looking Forward

All of the above developments will still be a moving factor for the real estate market in the San Diego area in 2013. For information on selling your home or finding a home in the San Diego area, contact one of our Realtors today by calling 888-865-5055.

Homes for Sale in Encinitas is at 80

The year over year median price of homes in North San Diego County rose 18.25%.

At this time, there are 80 single family detached homes active on the market in Encinitas with nine of these home listed at under $700,000.

In the month of December, Encinitas had 44 homes sell with an average sales price of $975,907

The least expensive home that sold was located at 1743 Old Mills Rd for $380,000. This figure was quite a bit below market value. The highest prices home to sell in Encinitas was located at 503 Ocean Bluff Way at for $2.1 million.

The average time a home stays on the market is 59 days.

Other figures reported by HomeDex:

In North County, detached home prices in December of 2012 rose 1.03% to $489,500 when compared to $484,500 in November of 2012. The year over year median price of homes in North San Diego County rose 18.25% when compared to the figure seen in December of 2011. This is the 5th month in a row that we have seen year over year price increases.

Pet Care Lectures to Be Held at Drake Center

Three lectures will be held in the upcoming months at the Encinitas based Drake Center for Veterinary Care concerning pet health. The free lectures will be in Carlsbad at the Whole Dog Sports Center but a suggested donation of $10 would be a welcome gesture, which will go to animal related charities.

Dates for the lectures:

January 23, 2013

"Western, Eastern, Holistic and Integrative Medicine: What’s the Difference?" The lecture presented by Dr. Kathy Boehme will be centered on the incorporation of alternative treatments for pets. It will cover food therapy, herbs therapy and acupuncture being presented into the mainstream Western veterinary practice as well as how these therapies can help your pet’s health and well-being.

February 27, 2013

"Solving Your Pet’s Skin Issues" The lecture presented by Dr. Michele Drake will discuss the causes of skin problems found in pets like allergies, infection, and parasites as well as the treatments and alternatives to address these issues.

March 27, 2013

"Nose for Needles: A Look at Veterinary Acupuncture" The lecture will be presented by Dr. Amanda and will explore the usage of acupuncture with pets for conditions like ligament injury, tendon injury, arthritis, diarrhea, and kidney disease to name a few.

The lectures will begin at 6 p.m. at 6241 Yarrow Dr, Carlsbad.

If Carlsbad sounds like the perfect place to call home, contact one of our Realtors today and be introduced to your new home by calling 888-865-5055.

Carlsbad to be home to the First US Legoland Hotel

The very first Legoland Hotel for the US has chosen its opening date and location. The location: the entrance to the Legoland theme park in Carlsbad, California The date: April 5, 2013

The announcement of the new Legoland Hotel will mark the third of its kind with one in the UK and another in Denmark. The hotel staff will be Lego built employees that are life size and will include bell hops and even a dragon.

The hotel will have 2500 rooms that are created to resemble one of Lego’s most popular product lines, which include Adventure, Kingdom, or Pirate. Each room has unique features like kids only bunk areas, mini refrigerators, queen beds for parents, and in room treasure hunts. Along with these features, guests will enjoy HD flat screen with On Demand, free Wi-Fi, and Lego bricks.

One addition reward that guests are sure to love is the VIP entry to the rides and attractions at the Legoland Park before it opens to the public.

Other features include a bar, restaurant, swimming pool, and has rumored it will hold the Junior Concierge contests that will provide 6 winner between the ages of 8 and 12 a free weekend stay along with Lego products for sharing their love for the park with other kids.

The rates at opening will be $199 per night.

Carlsbad is a wonderful place to call home for families. For those looking for place to call home that will provide everyone with entertainment opportunities year round, contact one of our Realtors today by calling 888-865-5055.