In San Diego County we are seeing unprecedented home value appreciation.  We are still experiencing multiple offers in all price ranges despite the hikes to the interest rate by the Federal Reserve.  Homeownership remains the ultimate American dream and continues to be one of the major contributing factors to establishing wealth. It is worth the financial sacrifice to budget for the purchase of a home.  Forecasting for the San Diego home market does not show signs of a price decrease anytime soon.  We are seeing major changes in world economics that will have an effect on our economy and home values for years to come.

Buyers should shop at a price below their top price point, allowing them to have the ability to overbid on their preferred home.  Buyers also need to carefully evaluate their wants versus their needs. If you can’t afford the perfect home today, purchase what makes sense for your budget.  This will allow you to get your foot in the door of real estate ownership and build equity to move up to your dream home.  If rising prices continue, new buyers may miss the opportunity to get into the market at all.

Patty Nesbitt has 35 years of Real Estate experience, the majority in San Diego County, and is an owner at Better Homes and Gardens Real Estate Clarity in Chula Vista, California.

Summer might be still a couple of months away, but as soon it hits San Diego it will bring along wildfires in many inland areas. You don’t have to be an expert to learn some basic tips and valuable information to prepare your home for fire season. The California Department of Forestry & Fire Protection (CALFIRE) through their website: readyforwildfire.org, promotes simple and necessary steps you can complete before we start experimenting with high temperatures.

One of the basic things to consider is your home itself. You can start by making sure your roof contains materials such as composition, metal, clay, or tile, those are very fire resistant. And make sure your roof is clean and doesn’t accumulate dead plants or leaves that can catch fire quickly.

Another important element to look after is windows. It has been stated that dual-paned windows with tempered glass can reduce breakage during a fire, which could cause a lot of damage. One simple thing you need to consider when building a house, or remodeling, is to avoid having big windows that face areas of vegetation, especially if vegetation is mostly dead weeds.

What about the walls? Walls are a big part of a house, and unfortunately using materials such as woods, boards, and shingles (most commonly used), create great danger for the property since they are all very flammable. Using instead ignition-resistant materials like stucco, fiber cement wall siding, fire retardant, and treated wood, can delay or prevent fire from spreading.

Even more, it’s not only about protecting your property, yourself, and your community, you should also think about landscaping. Even considering harvesting certain types of plants could mean a huge disaster or could prevent a big spreading in your home. Select some high-moisture plants such as aloe, ice plant, French lavender, etc. Also, try to purchase plants that are not too tall, and stay close to the ground, which helps to decrease fire flames from flying around.

For more information, please visit https://www.readyforwildfire.org/prepare-for-wildfire/get-ready/hardening-your-home/ and https://www.readyforwildfire.org/prepare-for-wildfire/get-ready/fire-smart-landscaping/ to learn more about preparing yourself, your community, home, and landscape, for a wildfire.

San Diego has long been the sought-after community for work and family and our housing prices reflect that. In 2019 the average price of a home in San Diego was $670,000 before it climbed dramatically over the last two years to $870,000. Low-interest rates and millennials helped to increase housing demand and decrease the time for a home to sell from more than three weeks to just over 1 week.

Ian Anderson takes a closer look at the San Diego Housing numbers, statistics, and facts in the following article:  “Let’s Talk San Diego Housing Prices”

BHGRE Clarity’s response:

Ian Anderson writes a solid article with relevant, unbiased information and statistics. He gives additional insights regarding real estate trends. 

The same trends Anderson addresses are present in the Southbay, as many out-of-town buyers are coming from San Francisco with larger budgets. A low number of homes are currently for sale, but increased inventory is anticipated this spring and higher interest rates may help to stabilize rising home prices. Real estate continues to be one of the most effective hedges against inflation.

Peter Carlseen, Broker

This month we celebrate the opportunity to own a home by sharing valuable information,
resources, and events with all Americans. The Fair Housing Act, adopted in 1968, established the right of
every person, no matter their race, gender, or occupation, to own a home.

The NAR – National Association of Realtors®, has been sharing valuable information this month
through their website, nar.realtor/fair-housing. Podcasts, short videos, events, and graphics teach all of
us that there are still ways to improve. We all share the responsibility to reduce racism and broaden
homeownership opportunities.

According to a 2022 report conducted by the NAR and Morning Consult to potential homebuyers, the
main obstacle to obtaining a home was the lack of affordable housing in the current market. This study
showed that the lack of properties within the criteria of White, Hispanic, Black, and Asian homebuyers
was among the top 3 difficulties they were facing.
The second highest difficulty differed among various ethnic groups. Blacks cited the lack of credit or
credit issues. Latinos mentioned the difficulty of saving for a down payment. Fair Housing Month can
bring homeownership issues to the forefront and help us improve opportunities for all.

For more information, visit https://www.nar.realtor/fair-housing/fair-housing-month.

Source: “2022 Obstacles to Home Buying,” National Association of REALTORS® (April 12, 2022)

Disclaimer: The image above was downloaded from https://www.nar.realtor.com, we do not own the rights.