A Look at San Diego Real Estate Drivers

An encouraging sign has been developing in the real estate market.  The number of homes available for sale in San Diego is steadily falling and now sits 15% below the number available last year.  This is the type of trend I look for as an indicator of a changing market.  It is the reverse of what we saw happen in 2005 when the market hit the top.  So, does this indicate the market bottom is finally here?  I’m not so sure.  There are four reasons I am questioning this data:

• Distressed Inventory.  50% of our sales in the county are distressed (short sales, foreclosures, or homes that have been foreclosed on in the last year).  That percentage has been over 50% for quite some time.  Since that is one-half of the current market, what happens to the supply there is key to how San Diego goes over the next couple of years.  According to the online magazine eForeclosure, Notice of Default filings started rising again in August.  With employment not getting much better, this trend will likely continue and create more inventory on the market as we enter the new year.
• Read more ...]]> http://www.voakhomes.com/market-signs-pointing/feed/ 0 http://www.voakhomes.com/monday-morning-coffee-18/ http://www.voakhomes.com/monday-morning-coffee-18/#comments Mon, 21 Feb 2011 05:09:13 +0000 Scott Voak http://www.voakhomes.com/?p=285
  
  
  

  Monday Morning Coffee

  Anybody Need a Few (thousand) Notepads?

  Good morning,
  I hope you had a nice weekend – and that those of you here locally enjoyed the week off with your kids (although you are more likely celebrating their return to school).   My sister did a great job of making me feel good as she called to let me know that without much training she ran the Golden Gate 1/2 Marathon this weekend and took 4th among females, winning her age group.  I’m going to get back up to running 3 miles without stopping again sometime.  Really.
   
  One note from last week’s letter.  A couple of people told me they thought I was overly negative on the housing market, especially since I sell homes for a living.  My goal is not to be negative, but it is also not to pretend things are great when I don’t believe they are.  While I would love everyone who gets this to be referring their friends and relatives to me for both the easy sales and the difficult short sales, I want you to be able to trust I will be honest with them and not give them a “sales pitch” to win their business.
  Read more ...]]> http://www.voakhomes.com/monday-morning-coffee-18/feed/ 0 http://www.voakhomes.com/182/ http://www.voakhomes.com/182/#comments Sun, 02 May 2010 21:10:44 +0000 Scott Voak http://www.voakhomes.com/?p=182
  
  
  Read more ...]]> http://www.voakhomes.com/182/feed/ 0 http://www.voakhomes.com/san-diego-home-sales-march-numbers/ http://www.voakhomes.com/san-diego-home-sales-march-numbers/#comments Thu, 01 Apr 2010 21:19:42 +0000 Scott Voak http://www.voakhomes.com/?p=160
  
  Read more ...]]> http://www.voakhomes.com/san-diego-home-sales-march-numbers/feed/ 0 http://www.voakhomes.com/february-san-diego-sales-numbers/ http://www.voakhomes.com/february-san-diego-sales-numbers/#comments Sun, 07 Mar 2010 07:27:09 +0000 Scott Voak http://www.voakhomes.com/?p=141
  
  Read more ...]]> http://www.voakhomes.com/february-san-diego-sales-numbers/feed/ 0 http://www.voakhomes.com/monday-morning-coffee-fed-stops-buying-mortgages/ http://www.voakhomes.com/monday-morning-coffee-fed-stops-buying-mortgages/#comments Sun, 17 Jan 2010 19:16:26 +0000 Scott Voak http://www.my4sranch.com/?p=123
  
  Read more ...]]> http://www.voakhomes.com/monday-morning-coffee-fed-stops-buying-mortgages/feed/ 0 http://www.voakhomes.com/what-happens-when-the-music-stops-interest-rates/ http://www.voakhomes.com/what-happens-when-the-music-stops-interest-rates/#comments Sat, 19 Dec 2009 00:22:57 +0000 Scott Voak http://www.my4sranch.com/?p=74
  
  Read more ...]]> http://www.voakhomes.com/what-happens-when-the-music-stops-interest-rates/feed/ 0 http://www.voakhomes.com/first-time-buyers-tax-credit-extension-the-good-and-the-bad/ http://www.voakhomes.com/first-time-buyers-tax-credit-extension-the-good-and-the-bad/#comments Mon, 16 Nov 2009 00:11:11 +0000 Scott Voak http://www.my4sranch.com/?p=65
  
  Read more ...]]> http://www.voakhomes.com/first-time-buyers-tax-credit-extension-the-good-and-the-bad/feed/ 0 http://www.voakhomes.com/monday-morning-coffee-3/ http://www.voakhomes.com/monday-morning-coffee-3/#comments Mon, 02 Nov 2009 23:10:24 +0000 Scott Voak http://www.my4sranch.com/?p=106
  
  Read more ...]]> http://www.voakhomes.com/monday-morning-coffee-3/feed/ 0 http://www.voakhomes.com/98/ http://www.voakhomes.com/98/#comments Mon, 05 Oct 2009 04:45:21 +0000 Scott Voak http://www.my4sranch.com/?p=98
  
  
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