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Carlsbad, California Real Estate

March 25th, 2010

: Image via Wikipedia

A coastal community located in Northern San Diego County, Carlsbad, California, is a relatively affluent community that has nonetheless been unable to escape the claws of the battered U.S. housing market woes. The Carlsbad real estate saw an initial dropping off of prices that seemed unstoppable, but as of recent months, slight improvements have been seen, pointing to signs that perhaps the bottom has been reached and now it’s time to climb back out.

Though sales through most of 2009 of homes were brisk and showed an increase over 2009, median prices of Carlsbad homes for sale struggled. The market kicked off 2009 with a median price of more than $700,000 and finished off the year in December with the median at around $620,000. The median price hit bottom in October at around $600, and then saw increases in November and December. Sales activity actually reached a yearly high in December, when 70 homes were sold.

Condo prices showed a similar trend. They started off 2009 with a median price of around $375,000 and finished the year in December at around $330,000. The lowest point for the condo market was also reached in September and October, and prices began to see ever so slight increases in November and December. Sales activity of condos remained mostly consistent, with around 25 to 30 sales per month.

These trends from the end of 2009 show that perhaps 2010 will be the year the the Carlsbad real estate market regains momentum and begins to see steady increases month over month as the U.S. economy slowly starts to pick up and residents return to employment and resume normal activity.

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Posted in California

Tags: California Carlsbad Carlsbad California Counties Home Searches San Diego San Diego County California United States

Fullerton real estate market

March 9th, 2010

: Image via Wikipedia

The Fullerton real estate market, which is closely linked to the rest of the Southern California real estate market, made some impressive strides during the month of January. According to an article released by EGP News, “In Orange County, the median home price was $325,000, up from $300,000 in the same month a year ago, according to La Jolla-based MDA DataQuick. According to DataQuick, 15,361 homes were sold in the six-county Southern California region – Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties – in January, down 31.2 percent from 22,328 in December and up 0.9 percent from 15,227 in January 2009.” As John Walsh of MDA DataQuick pointed out, “The January stats underscore just how atypical this market remains…A huge chunk of what’s selling is still distressed.”

The price of Fullerton homes for sale substantially increased in the month of January, according to an article in OC Metro. The piece, published on February 16, 2010, found that “Orange County’s median home price jumped 14.9 percent in January compared to the same time last year, according to stats just released by San Diego-based MDA DataQuick.” The article, composed by Kristen Schott, noted that “The price for a home or condominium in the region rose to $425,000 in the period, up from $370,000 in January 2009. But the number declined from December’s $435,000 median. For the entire Southern California region, which includes the Orange, L.A., Riverside, San Bernardino, San Diego and Ventura counties, the median home price rose 8.6 percent to $271,500…”

One problem spot for Fullerton real estate and Orange County real estate was reported in another article by the OC Metro. This piece, composed by Carol Starcevic, noted that “Foreclosure notifications in Orange County rose slightly in January from the previous month, but the number still remains significantly lower than January of 2009’s figure.” The February 16, 2010 article continued to point out that “In addition, 523 properties were returned to banks, up 86 from December but down 193 from January 2009. And 303 homes were sold to a third party, up 81 from December and 183 from the same time last year, according to the report.”

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Posted in California

Tags: Home Searches Los Angeles MacDonald Dettwiler MDA DataQuick Orange County San Bernardino California San Diego Southern California

San Diego real estate update

September 29th, 2009

SanDiegoSkyline_gde Real estate news isn’t all bad in San Diego. The coastal city in southern California is one of the region’s premier places to live thanks to the sunny weather, beautiful beaches, and spectacular recreational opportunities. On September 25, 2009, Max Jarman wrote in the Arizona Republic newspaper that bargains have begun to surface in San Diego, much to the liking of home buyers looking to scoop up a prestigious piece of real estate in San Diego at a fraction of its realistic price. Jarman reported that “oceanfront real estate from Imperial Beach to La Jolla has not taken the 50 percent plunge that hit some downtown condos and subdivision tract homes. But beachfront property has come down as much 30 percent in some areas from 2006 highs, with much greater savings possible on foreclosure properties or short sales.”

However, decreasing beach property prices doesn’t mean some of San Diego’s most elite residential communities will be inundated by new people. Roger Shawley of the San Diego Union-Tribune wrote on September 24, 2009, that La Jolla was still the most expensive housing market in the United States again, despite the hurting housing market and of course the most pricey San Diego real estate. In fact, “La Jolla and No.?2 Beverly Hills were the only markets among the top 10 that saw a price increase from 2008.” To the surprise of many economists, maintaining this rank is surprising, given the state of California’s high cost of living, cost of doing business, and high taxes.

SDGolf An Associated Press report issued on September 26, 2009, the article claims “a million dollars doesn’t buy you what it once did. In most U.S. neighborhoods, it now gets you a lot more.” San Diego homes for sale in certain areas, unlike La Jolla, have suffered. The reporter writes, “a couple of years ago, the idea of getting a house in Rancho Santa Fe for a paltry $1 million was laughable. Now, foreclosures and financially distressed homeowners account for about 15 percent of sales, and home prices are down 30 percent.” This also has a residual affect on other homeowners in the prestigious area who face devaluation of their own properties thanks to the lower home prices in the local market.