The Lawhead Team would like to share the latest HomeDex Report for North San Diego County for October:

October continued to be busier than the calendar normally suggests. Buyer activity remains higher than normal for this time of year, while in many segments of the market housing supply remains much lower than one year ago. Multiple offers remain a common occurrence in many areas, keeping housing hot while the temperatures continue to fall.

Closed Sales increased 36.6 percent for Detached homes but decreased 19.8 percent for Attached homes. Pending Sales increased 35.7 percent for Detached homes and 14.7 percent for Attached homes.

The Median Sales Price was up 11.8 percent to $777,000 for Detached homes and 7.2 percent to $504,000 for Attached homes. Days on Market decreased 38.5 percent for Detached homes and 35.3 percent for Attached homes. Supply decreased 50.0 percent for Detached homes and 53.8 percent for Attached homes.

Mortgage rates dropped to new record lows again in October, helping to offset the monthly mortgage payment increases caused by the rise in home prices seen in many segments of the market across the country. While prices often dip a bit in the winter months, continued buyer demand may temper any price retreats this year.

The HomeDex Report is from North San Diego County Association of Realtors.

He highlighted her performance in the 4^th quarter of 2019 and is officially in the top 2% in the world of all Coldwell Banker agents!

Dear Marilyn,

It is a true pleasure to recognize you for being named among the NRT Top 1,000 Sales Associates for the fourth quarter of 2019. With more than 50,000 sales associates across all NRT brands, your exceptional performance places you in a select group. Congratulations!

Your hard work, professionalism, and unwavering commitment to your clients, along with your ability to be successful in an ever-changing market, have made you stand out among your peers. On behalf of the entire NRT family, thank you for providing the highest level of service to your clients and for your significant contributions to the success of the nation’s largest real estate brokerage.

I applaud your passion and dedication to attaining excellence every day and look forward to seeing what you will accomplish next. Best wishes for continues success in the future!

Sincerely,

M. Ryan Gorman

The Lawhead Team would like to share the latest “One Cool Thing” about California renters and their dream of making homeownership happen.

Despite affordability challenges, California renters continue to hold homeownership in high regard and aspire to purchase a home eventually.

Advantages of homeownership, according to renters:

• 21%: provides a good long term investment
• 19%: gives them the freedom to do what they want with their home
• 12%: allows stability to plant roots

What’s hindering renters from homeownership:

• Only 40% of renters are familiar with the credit and loan criteria needed to purchase a home.
• 14% of renters are under the impression that more than 50% down payment is needed to purchase a home.
• Nearly 40% of California renters believe that more than 20% is required to become a homeowner.

These misconceptions result in many renters delaying their home purchase or possibly giving up on the dream of homeownership. If you’re a renter, talk to your REALTOR to find out how you can become a homeowner.

Source: CAR 2018 State of the California Consumer Survey

The Lawhead Team would like to share the latest One Cool Thing about surprise home repairs and how people usually are able to pay for them.

Nearly half of homeowners experienced an unexpected home repair in the first year of homeownership and almost one-third did not have money set aside for home repairs or improvements. Homeownership involves more than just paying for your mortgage. Be sure that you’re prepared for unexpected expenses.

Paying for home improvements:

• 12% had to tap into or exhaust savings to pay for the majority of home repairs/improvements.
• 52% were able to easily pay for most home repairs/improvements without tapping into savings, going into debt, or making other sacrifices.
• 13% had to take on debts to pay for the majority of home repairs/improvements.
• 20% had to make sacrifices in other areas in order to pay for the majority of home repairs/improvements.
• 3% had other ways of paying for the repairs.

Source: “2018 Home Improvement Report,” Nerdwallet and CAR.

The Lawhead Team would like to share the latest “One Cool Thing” about burglars and how to keep your home safe from them:

Home burglary generally has a pattern: criminals looking for an easy target they can rob fast. Career burglars shared this information to help you prevent break-ins.

• Weekdays, between 12:30 p.m. and 2 p.m. are the most popular times for break-ins. The last thing criminals want is to encounter someone at home and weekend schedules are too unpredictable.
• Criminals scout public social media accounts to find victims. Locating someone’s home address using basic information from their social media profile is surprisingly easy.
• Tall bushes are favorites of burglars since they offer an obstructed view from the street and an easy way to hide from neighbors. So, keep your shrubs and large landscaping features trimmed.
• Unlocked windows, unused deadbolts, poorly lit homes, and residences without security systems are prime targets for thieves.
• Keep your expensive items out of sight. Leaving your MacBook in front of your kitchen window is making it too easy for a burglar.

Source: California Association of Realtors and RISMedia’s Housecall

The Lawhead Team would like to share the latest “One Cool Thing” about surrounding school rankings and how they influence choosing a home to buy.

When it comes to choosing a home, the ranking of a school is very important to consumers of all ages and income levels. Here’s how people perceive the importance of highly rated schools:

• 47% consider the rating of surrounding schools very important
• 23% consider it somewhat important
• 11% feel that school ratings are not very important
• 19% feel that surrounding school ratings are not at all important

43% of consumers age 34 or under believe highly rated schools are very important while 58% of consumers earning more than $100,000 think highly rated schools are very important.

Below are the monthly indicators for the HomeDex North County home market activity for both attached and detached homes:

If the last few months are an indication of the temperature of housing markets across the country, a period of relative calm can be expected during the last three months of the year. A trend of market balance is emerging as we approach the end of 2018. Prices are still rising in most areas including North County, and the number of homes for sale is still low, but there is a general shrinking of year-over-year percentage change gaps in sales, inventory and prices.

Closed Sales decreased 15.6 percent for Detached homes and 15.3 percent for Attached homes. Pending Sales decreased 3.5 percent for Detached homes but increased 1.9 percent for Attached homes. The Median Sales Price was up 5.1 percent to $715,000 for Detached homes and 13.3 percent to $465,000 for Attached homes.

Days on Market increased 8.3 percent for Detached homes and 15.4 percent for Attached homes in North County. Supply increased 40.9 percent for Detached homes and 40.0 percent for Attached homes. Stock markets experienced an October setback, but that does not necessarily translate to a decline in the real estate market.

The national unemployment rate has been below 4.0 percent for three straight months and during five of the last six months. This is exceptional news for industries related to real estate. Meanwhile, homebuilder confidence remains positive, homeownership rates have increased in the key under-35 buyer group and prices, though still rising, have widely reduced the march toward record highs.

Information from: North San Diego County Association of Realtors.

Looking to simplify your home buying process? It is important to work on getting your financing ducks in a row before looking for a home.

Check out the latest “One Cool Thing” from the California Association of Realtors about seeking financing when buying a home:

Most home buyers are following their realtors advice and seeking financing first in their home buying journey. They also want greater speed, simplicity and communication from their providers.

• 73.5% sought out home financing options before looking for a home.
• 75.4% said their agent and lender communicated with each other about their home buying process.
• 49.5% desire a faster or easier home buying experience.
• 34.1% had trouble understanding mortgage fees.

Source: loanDepot and mellohome

Want to know what is going on in North County San Diego when it comes to buying and selling homes? Check out the latest statistics from the HomeDex report:

• Rising home prices, higher interest rates and increased building material costs have pressured housing affordability to a ten-year low, according to the National Association of Home Builders. Keen market observers have been watching this situation take shape for quite some time. Nationally, median household income has risen 2.6% in the last 12 months, while home prices are up 6.0%. That kind of gap will eventually create fewer sales due to affordability concerns, which is happening in several markets, especially in the middle to high-middle price ranges.
• Closed Sales decreased 15.3 percent for Detached homes and 15.3 percent for Attached homes. Pending Sales decreased 9.4 percent for Detached homes and 10.4 percent for Attached homes.
• The Median Sales Price was up 9.4 percent to $755,000 for Detached homes and 2.3 percent to $445,000 for Attached homes. Days on Market increased 12.9 percent for Detached homes and 25.0 percent for Attached homes. Supply increased 25.0 percent for Detached homes and 46.7 percent for Attached homes.
• While some are starting to look for recessionary signs like fewer sales, dropping prices and even foreclosures, others are taking a more cautious and research-based approached to their predictions. The fact remains that the trends do not yet support a dramatic shift away from what has been experienced over the last several years. Housing starts are performing admirably if not excitingly, prices are still inching upward, supply remains low and consumers are optimistic. The U.S. economy is under scrutiny but certainly not deteriorating.

HomeDex report is from the North San Diego County Association of Realtors.

The Lawhead Team would like to share the latest One Cool Thing on unique ways you can get help with your down payment for your home:

One of the biggest misconceptions about homebuying is the need for a 20% down payment. Here are some unique ways you can get help with your down payment –

• Crowdsource: Some people use crowdsourcing websites, like Kickstarter, to fund short films and concert tours, so who says you can’t crowdsource your first home?
• Your Employer: Employer Assisted Housing (EAH) programs help connect low-to moderate-income workers with down payment assistance through their employer. Ask the HR or benefits personnel at your employer if the company is party of an EAH program.
• Lender Programs: Many lenders offer programs to help people buy a home with a small down payment. FHA mortgages, for example, can require as little as 3.5% down.
• Government Options: The U.S. Department of Housing and Urban Development offers a number of homeownership programs including ones based on profession such as law enforcement officers, firefighters, teachers and EMT’s.

The California Association of Realtors also offers a Down Payment Resource Directory that will help you find out if you are eligible for any of the 400 plus down payment assistance programs available in California.