The community of Del Cerro is located in central San Diego County, California. The community is located off Interstate 8 at the College Ave exit.
The real estate and homes for sale in Del Cerro fall into the low to moderate income-categories. The number of homes sold in a particular year is relatively high. For example, during the period from January through July 2006, approximately 137 single-family homes sold. Approximately 142 homes sold for the same period in 2005.
One method to analyze pricing trends for a particular community is to evaluate the median and average price of homes for a particular month, and compare that data against the same period last year. What follows is a comparison of the median price and average price of homes for the past seven months (January through July 2006), compared against the data for the corresponding time period in 2005.
The median price of homes represents the point at which half the homes are above a particular price point, and half the homes are below a particular price point. The average price of homes is calculated by adding up the sales price of all homes sold in a particular month, and dividing that value by the number of homes sold.
The median price of homes in July 2006 was $632,000, compared to $590,000 in July 2005, which represents a 6.2 increase. The average price of homes in July 2006 was $680,557, compared to $620,571 in July 2005, which represents a 9.9% increase. Approximately 21 homes sold in July 2006 and 20 in July 2005. In summary, there was an upward price trend in July 2006 compared to the same period last year.
The median price of homes in June 2006 was $557,500, compared to $545,500 in June 2005, which represents a 2.1% increase. The average price of homes in June 2006 was $622,327, compared to $613,060 in June 2005, which represents a 0.80% increase. Approximately 13 homes sold in June 2006 and 30 in June 2005. In summary, there was an upward price trend in June 2006 compared to the same period last year.
The median price of homes in May 2006 was $620,000, compared to $615,000 in May 2005, which represents a 0.8% increase. The average price of homes in May 2006 was $652,730, compared to $604,844 in May 2005, which represents a 2.7% increase. Approximately 30 homes sold in May 2006 and 16 in May 2005. In summary, there was an upward price trend in May 2006 compared to the same period last year.
The median price of homes in April 2006 was $560,000, compared to $680,000 in April 2005, which represents a 17.6% decline. The average price of homes in April 2006 was $597,593, compared to $726,804 in April 2005, which represents a 17.8% drop. Approximately 27 homes sold in April 2006 and 23 in April 2005. In summary, there was a downward price trend in April 2006 compared to the same period last year.
The median price of homes in March 2006 was $557,000, compared to $635,000 in March 2005, which represents a 12.3% drop. The average price of homes in March 2006 was $639,667, compared to $655,836 in March 2005, which represents a 2.5% drop. Approximately 21 homes sold in March 2006 and 25 in March 2005. In summary, there was a downward price trend in March 2006 compared to the same period last year.
The median price of homes in February 2006 was $594,750, compared to $530,000 in February 2005, which represents a 12.2% increase. The average price of homes in February 2006 was $664,679, compared to $565,882 in February 2005, which represents an 18.5% increase. Approximately 14 homes sold in February 2006 and 18 in February 2005. In summary, there was an upward price trend in February 2006 compared to the same period last year.
The median price of homes was $595,000 in January 2006, compared to $512,500 in January 2005, which represents a 16.1% increase. The average price of homes in January 2006 was $713,909, compared to $575,470 in January 2005, which represents a 24.1%. Approximately 11 homes sold in January 2006 and 10 in January 2005. In summary, there was an upward price trend in January 2006 compared to the same period last year.
So what does the data tell us? Well, the data above does not reveal a consistent pattern. Early in the year (January and February 2006), home prices were up year-over-year in the range of 12% to 24%. However, prices were down 2% to 17% during March and April 2006, compared to the same time last year. And then, for the last three months (May, June and July 2006), moderate price gains were observed ranging from 1% to 10%. Given the ups and down described above, a longer period of evaluation is needed to determine if a clear pattern emerges. Contact an experienced Realtor to obtain additional insights about the pricing trends in the Del Cerro real estate market.
Archive for January, 2009
Del Cerro, San Diego, Real Estate Market Trends, Single-family Homes, Mid Year Analysis, 2006
Saturday, January 31st, 2009High Yields On Residential Property In Chile, Says Global Property Guide
Friday, January 30th, 2009Santiago and Concepción are attractive for residential property investors, Viña Del Mar less so, says the Global Property Guide
There are surprisingly large differences between returns on residential property in Chile’s main cities. The Global Property Guide (http://www.globalpropertyguide.com), the research site for residential property, released today the results of research into rentals in major cities of Chile. It revealed that:
• Apartments in prime areas of Santiago have excellent average rental yields of 8.16%.
• Apartments in the city of Viña Del Mar yield only half as much, on average, with gross rental yields of around 4.31% only.
The rental yield is the annual rental income on a property, as a percentage of today’s property purchase price. This is what a landlord can expect as return to his investment. The rental yield is one useful yardstick of whether property is over-valued or under-valued
The high yields on apartments in prime areas of Santiago – Las Condes, Providencia, and Vitacura – suggest that these Santiago areas make good residential property investments.
Apartments in prime areas of Santiago cost on average US$ 98,520 for a 60 square meter apartment, according to the Global Property Guide’s research, versus US$ 87,480 for the same sized property in Viña Del Mar. However, 120 square meter apartments are more expensive in Viña Del Mar than in Santiago.
The result? Looking across the different sizes, prices in the two cities are more or less the same, on average.
Though apartments in Santiago and Viña del Mar cost around the same, per square meter, yet Santiago apartments produce twice as good rental returns – i.e., rents for the same sized apartment in Santiago are nearly twice as high. This means that Santiago is much more attractive as a residential investment.
In the southern city of Concepción, 120 square meter apartments have excellent gross rental yields of 9.04% – also, an excellent level of rental yields, making Concepción a very attractive investment.
Why consider rental yields? Some investors in residential property may ignore rental returns, being more concerned with capital gains.
Yet even they would do well to consider rental yields. The rental yield, or price/rent ratio, is similar to the price/earnings ratio in the stock market. As in the stock market, property investments with high rental yields tend to perform better, and have higher capital gains, in the long-term.
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Extensive Report - http://www.globalpropertyguide.com/Latin-America/Chile/Rental-Yields
Description:
The Global Property Guide is an on-line property research house.
Terms of Use:
On-line newspapers, magazines, sites, etc wishing to use material from this press release MUST provide a clickable link to www.globalpropertyguide.com. Sites and newspapers found not to be providing a link to us will be removed from our press list.
Publisher and Strategist:
Matthew Montagu-Pollock
Phone: (+632) 867 4220
Cell: (+63) 917 321 7073
Email: editor@globalpropertyguide.com
Address:
Global Property Guide
http://www.globalpropertyguide.com
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Legaspi Village, Makati City
Philippines 1229
info@globalpropertyguide.com
Egypt Property for Sale
Friday, January 30th, 2009Egypt is a vast and wonderful country and is equivalent with pyramids, pharaohs and temples. This African country remains one of the world’s most mesmerizing travel experiences. This country is growing in the both the tourism and property market. The Egyptian people are helpful and friendly. They religiously follow the Islamic culture and traditions, yet there is a pleasant outlook of broadmindedness comprehensive towards people of other documented faiths, like Christianity. Therefore Egypt Property for Sale is now hot matter for overseas investors.
This country belongs to North Africa. That contains the Sinai Peninsula; Egypt borders Libya to the West, Sudan to the south, and Gaza and Israel to the northeast; on the north and the east are the Mediterranean Sea and the Red sea. It has a good climate, attractive historical building and culture, stunning natural landscape and cheap property prices. Now Egypt has been becoming increasingly popular for overseas property investors as the Egyptian government seeks foreign direct investment. Egypt bears all the features of overseas property hot spot.
Property market of Egypt is growing rapidly. No doubt this African country is hotspot for overseas investors. In few years Egypt has started to attract the visitors and property buyers alike. Major cities such as Cairo and Alexandria are now most attractive cities of this country. When you are looking for Egypt Property for Sale, this country offers old properties, new builds, and off-plans.
If you want to purchase a property near the banks of Nile River, you can find properties in and around this African country according to your budget. There are many real estate agencies; they offer resorts, villas, apartments, condominium and many others at the most luxuries locations. When you are looking for Egypt property for sale, you can be sure that you will purchase accurately what you are looking for. Many real estate agencies have been successful in arranging property for sale in Egypt.
You can easily find property for sale in Egypt. For this you are to search over internet or check local listing yellow pages. You can easily purchase property here. Everyone wishes to earn more and more by investing less. Therefore buying a resort on the red sea means you are investing to earn more. If you are looking for a commercial property for sale in Egypt, then there are many attractive locations for shopping mall, hotel developers.
Investors are looking for low risk place in which to invest their money would be wise to seriously consider Egypt. Investors as well as people have realized that this country is something more than history and culture.
Port Charlotte Florida Real Estate – How Does it Feel to Have Found the Perfect Home?
Friday, January 30th, 2009Florida is also known as the Sunshine State due to the incredible weather that lasts all year round. Still, it seems to be more than the weather that makes Florida such an attractive residential opportunity. It may be the homely neighborhoods of small towns like Port Charlotte and the relaxed lifestyle everybody leads here. Port Charlotte Florida real estate has developed extremely in the past few years, but the prices still remain captivating and so are the properties presented online. If you are interested in finding a dream property as well, then you definitely enter online and search for a reputed Port Charlotte Florida Realtor® to provide all the assistance you need!
From all the cities that are included by the state of Florida, it seems that Port Charlotte is definitely one of the most appealing choices. Part of the Charlotte County and sitting incredibly close to Sarasota, it offers more opportunities than one could start to think of and a new way of living. Contact a Port Charlotte Florida Realtor® and allow him/her to explain why this place is so incredible. You will be presented with newly developed areas, shopping centers and fine waterfront restaurants. Parks for nature enthusiasts, golf courses for fanatics of this sports and a list of outdoor activities that could impress even the most active of us – that is what Port Charlotte has to offer to its future residents!
If you are going for Port Charlotte Florida real estate, then you should go online and find out more about this place. Once you consider such a location for your future residence, you are definitely one of the many people that enjoy activities like sunbathing, swimming and tanning on the beach. The beautiful Port Charlotte presents many such opportunities for those who just love the beach, including easy access to unique locations such as Boca Grande. Here you can enjoy even more swimming, fishing and boating, plus a whole other range of outdoor activities for the active person in you. There is also the possibility of kayaking, yachting and even gliding in a parasail. No matter, how you put it, you cannot get bored here and you are bound to have the time of your life.
Just like in many other regions from Florida, Port Charlotte offers splendid weather with warm summers and gentle breezes that just sweep of your feet to a relaxed feeling. Port Charlotte Florida real estate companies present online their available properties for such spectacular locations, hoping that more and more people will take their time to see how amazing this part of the Sunshine State truly it. You cannot go wrong if you decide to move out there and any Port Charlotte Florida Realtor® will tell you that, especially since you can enjoy so many things: nature, fine meals and a wide variety of outdoor activities (bike riding, basketball, tennis, golf and jogging – just to name a few). The prices are great and you will definitely be pleased with the many amenities offered.
What makes Port Charlotte so special that everyone would want to move there? Well, one could start with the beautiful houses and continue with the incredible feeling of being part of this community. The city has so many things to offer and you are not forced to live a rushed life, filled with stressful situations and complicated issues. You can relax, enjoy the scenery and be happier than you ever imagined. You have saltwater canals to admire, running throughout the entire city and offering you the opportunity to enjoy boating like you have never done it before. There is Charlotte Harbor and the Gulf of Mexico, both of them offering immense opportunities for those interested in sailing.
As for what Port Charlotte Florida real estate has to offer in terms of living, you have convenient access to schools, hospitals and other important establishments. No matter if you want to start a family or retire after many years of hard work, you can be sure that you will like living in Port Charlotte where life doesn’t seem to hurry anywhere. Houses with all the amenities included, spas and pools, in recently developed areas and close neighborhoods – will be just few of the things a Port Charlotte Florida Realtor® will explain to you. All of the properties are unique, demonstrating how easy and pleasant it is to live in a place that is not over crowded and still provides everything you need. Great location indeed!
Misguided Philly Condominium Developers
Wednesday, January 28th, 2009Big-brained idealists with little local real estate knowledge have been breaking ground new condominium developments in record numbers in the past decade here in the US. Not every ground breaking is indeed Ground-Breaking, nor are such events good news for the overall health of any given real estate market. According to Realtor.com, there are currently 22,578 condos currently on the market in Miami Florida. The effects over oversaturation can be devastating to a local real estate market.
Since all real estate is local (you can’t buy a 3000 sq ft split level across from Central Park for $159,000 as you can in say Little Rock, AR), values are determined within a particular geographical location by a variety of non-market driven factors: the properties cache, it’s location, amenities, size, condition, etc. However, real estate values are greatly also affected by simple supply and demand. With the surge of new construction projects littering the US in the past decade, such developments not only flood the condominium market with a plethora of inventory, thereby possible reducing prices, but can add to the perception of a stagnant real estate market. More inventory has an ability to chill a potential buyers sense of urgency. A high substitutability factor of available condos can quickly knock the wind out of any new buyers’ sails as well. Furthermore, an oversupply of non-performing condos can pave the way for future foreclosure. Upon resurfacing, those condos come back on the market, and have a tendency to shock the local real estate market with artificially low asking prices, causing the entire market to react.
Missing a target market is devastating to the developer looking to make a fortune on his or her latest project. Building large condos with “neighborhood breaking” asking prices, or developing the wrong style of building for a given location or demographic can wreak havoc for a developer and the unlucky neighborhood that gets saddled with such a misnomer. The model for any new development project that works in New York City, is not going to work in St. Louis. How is it that the phrase “When in Rome”, doesn’t apply here? It does. Local real estate markets benefit when a developer does his or her homework, and can match a product with it respective marketplace. Downtown Philadelphia has recently seen a half dozen high-profile new construction projects crash and burn prior to a shovel hitting the dirt. From poor planning to a lack of local real estate research and good old fashioned listening, developers are packing their bags prior to unpacking their bags. In some cases, perhaps for the best, such projects have not been built. “The market could have easily absorbed a few of these projects, should it have been based upon logical and solid research” according to Jim Thornton, of Prudential Fox and Roach Realtors in downtown Philadelphia. “Developers who don’t know the area, and try to fit our landscape into their mold, are in for a bit of a shock”.
Mark Wade
www.CenterCityCondos.com
Prudential Fox and Roach REALTORS®
530 Walnut St., Suite 260
Philadelphia, PA 19106
Maneuvering To That Florida Real Estate In The Form Of Short Sales And Foreclosures
Wednesday, January 28th, 2009If you are considering purchasing property in Florida, you need to originally realize in touch with a Florida Real Estate Agent. The switching courses of the market reckon on the region, location and the several classes of souls staying in a particular vicinity. Out of township vendees of place and many international investors are keen to buy Florida Real Estates. The purchasers of this property search outward for the breezy beaches and other attractive forces and of course entertainment centers in Florida.
In fields where there is less postulate for property, Florida Real Estate Agents are efficient to service our proprietors as well as buyers, holding stakes of some in psyche.
The Florida Real Estate is a actual attractive force for buyers round the earth. In spite of the average disasters, the Florida Real Estate has shown incredible speedup in the growth potency. Furthermore, credited to the strong job market, tolls of Florida Real estates are just raising ahead.
Purchasing your own real estate in Florida is quite plain. If you are aware of the legalities associated with purchasing a household in Florida, things turn smooth.
Understanding the real estate market in Florida will aid you in describing the proper holding for you. Simply if you hold a challenging budget, it is best to get the servicing of a real estate agent. It is knowledgeable that you bargain a property which suits your taste and pocket, when the monetary values are comparatively lower. This mode, you would not have to shell outward a lot of money and likewise find the best share out of it.
When buying a real estate or place in Florida, it is essential that you get acquainted with 2 very key legal documents – Deed and Title. Title implies the possession right, be if accomplished or half of the real estate or place. A deed transfers the rights to the recent buyer of the property or real estate.
It is considered that you go all over the title or deed decently in front you buy the holding from the possessor. If you are not sure about the legal conditions, become in reach with your Florida Real Estate Agent who would have experience in reading and projecting these legitimate written documents. He would be able to read the fine prints and would be effective to check out whether the holding is released from legal problems or mortgage loans etc.
Acquiring a home can turn a trouble free exercise if you take the servicing of an agentive role.
The real estate agents would know everything about the Florida real estate and you can be assured of accomplished advice and reference. These agents would also serve the household buyer to identify the fitting place which would accommodate their specification within the specified time frame. You would get a wide selection and it becomes simpler for you. The essential legalities are also wrought by them and you do not bear to get into the elaborations of the sale.
We Were Robbed by our Property Manager (how to Find the Best Property Manager Money Can Buy)
Wednesday, January 28th, 2009We were taken for a ride by a property manager we had in Toronto. His services were cheap (5% of the rent and no charge for new tenants except advertising costs). That’s real cheap, if you don’t count the fact that he was stealing rent money from us!
Before hiring him to manage our tri-plex in Toronto, I researched him a bit and learned that he was a Mom & Pop-type shop and was registered with the Better Business Bureau, but I didn’t check references or dig much deeper than that. His scam? He collected $950/month from our tenants but only told us we were getting $890!
The only reason we caught onto his scam was because we moved into the house and the tenants started paying us the rent instead of him. Imagine our surprise when the cheque was for $950, and we were expecting $890!
Looking back, we could have easily protected ourselves. Now, we want to help you prevent it. Here’s some tips:
* When ads are placed for your unit(s), get copies of the ads. Also, ask where the ads are being placed and check for the ads yourself (looking back, I had noticed an ad for our unit for $50 more than we had agreed to rent it for. I wrote him to change it, and he said he would, but now I think it was a red flag that I should have recognized).
* Ask for copies of the signed leases.
* Ask for proof of expenses incurred (always get receipts, but for larger repairs or purchases get pictures or visit the property yourself).
This may not save you completely, but had we been able to get copies of the leases or asked to see the ads, our property manager would have had a harder time stealing from us.
Property Appraisal for Investors
Tuesday, January 27th, 2009Property appraisal or property valuation is the process of determining the value of the property on the basis of the highest and the best use of real property (which basically translates into determining the fair market value of the property). The person who performs this property appraisal exercise is called the property appraiser or property valuation surveyor. The value as determined by property appraisal is the fair market value. The property appraisal is done using various methods and the property appraisal values the property as different for difference purposes e.g. the property appraisal might assign 2 different values to the same property (Improved value and vacant value) and again the same/similar property might be assigned different values in a residential zone and a commercial zone. However, the value assigned as a result of property appraisal might not be the value that a property investor would consider when evaluating the property for investment. In fact, a property investor might completely ignore the value that comes out of property appraisal process.
A good property investor would evaluate the property on the basis of the developments going on in the region. So property appraisal as done by a property investor would come up with the value that the property investor can get out of the property by buying it at a low price and selling it at a much higher price (as in the present). Similarly, property investor could do his own property appraisal for the expected value of the property in, say 2 years time or in 5 years time. Again, a property investor might conduct his property appraisal based on what value he/she can create by investing some amount of money in the property i.e. a property investor might decide on buying a dirty/scary kind of property (which no one likes) and get some minor repairs, painting etc done in order to increase the value of the property (the value that the property investor would get by selling it in the market). So, here the meaning of property appraisal changes completely (and can be very different from the value that property appraiser would come out with if the property appraiser conducted a property appraisal).
A property investor will generally base his investment decision on this property appraisal that he does by himself (or gets done through someone).
Experts Forecast 2007 U.S. Real Estate Market Trends
Tuesday, January 27th, 2009Modest median price gains in new and existing homes, a stable interest rate on the 30-year fixed mortgage, decreased housing starts and a stable unemployment rate are some of the features of the 2007 housing forecast provided by major trade group economists as reported by The Inman News.
NAR chief economist David Lereah expects new-home sales to fall from 1.07 million units sold in 2006 to 975,000 units in 2007, which is an 8.7% decline. He cites decreased new home construction as a large contributing factor to this change. The median new home price of $238,400 in 2006 is expected to increase by 1.3 percent to $241,400 in 2007.
NAR also predicts that existing home sales figures for 2006 to end around 6.47 million units, which is an 8.6% decline from 2005. The 2007 forecast for existing home sales is 6.43 million units. The median price of existing homes in 2006 was $223,700 and is expected to increase 1.7% to $227,500 in 2007.
Doug Duncan, chief economist for the Mortgage Bankers Association predicts the interest rates on 30-year fixed mortgages to stay around 6.5 percent, but mortgage originations to fall 14% to $2.1 trillion.
While Lereah predicts that the unemployment rate to stay at 4.7 percent, Duncan takes it higher and believes it may reach 5.2 percent by midyear 2007. However, he concurs with Lereah in predicting modest home price gains in new and existing homes for the coming year.
The housing forecast of The National Association of Home Builders (NAHB) is in line with NAR and the Mortgage Bankers Association. According to David Seiders, Chief Economist at NAHB, the year 2007 will see the housing market re-adjust itself once the housing demand stabilizes, leading to a healthy balance between supply and demand.
Looking at the state level, the California Association of Realtors (CAR) projects that the median price of California homes will end 2006 around $560,700, and will decline in 2007 to $550,000 — a 1.7% drop. The number of units sold in California will end 2006 around 481,200, and is projected to decrease 447,500 in 2007. CAR predicts that the unemployment rate will stay around 5.1 percent, although interest rates on the 30-year fixed mortgage may hover around 6.7 percent in 2007.
The overall housing forecast for 2007 made by these four major real estate trade groups is not at all bad. Home buyers and investors planning to go ahead with their real estate activities can fare better with the help of a good real estate agent.
Can U.S. Luxury Real Estate Markets Sustain Home Prices?
Monday, January 26th, 2009Top 10 Luxury Home Markets To Watch for Price Increases or Reductions
The Unique Homes Magazine has listed 25 luxury home markets to watch in 2007 in its January issue. According to the Unique Homes report the 25 luxury markets will indicate where the luxury real estate market is heading to. These markets along with features that make them stand out from the rest are worth watching out for.
The following is a brief report on the top 10 luxury home markets to watch for price increases or reductions in 2007.
1. Annapolis, Maryland. The waterfront city located on Chesapeake Bay offers excellent boating and affordable prices compared to Washington’s luxury enclaves. With Washington and Baltimore within reasonable commute, this city is highly desirable.
2. Asheville, North Carolina. An eclectic ambiance and low-key lifestyle attracts people to Asheville which continues to remain one of the hottest places for luxury home buyers.
3. Aspen, Colorado. From a ski enclave this luxury market has grown into a platinum location. With its four-season appeal and restrictive zoning policies, Aspen is still a highly-sought after destination.
4. Atlanta, Georgia. The city offers several new upscale communities, numerous lifestyle amenities, retreats and much sought after waterfront luxury homes.
5. Austin, Texas. A strong real estate market that saw record gains in 2006, the reputable University of Texas, the scenic lakes and the great music attracts buyers to this hill country.
6. Bellevue/Medina, Washington. With prices going up at 28 percent, the market has still not peaked and several upscale neighborhoods are available at a lower price range when compared to other markets.
7. Beverly Hills, California. One of the top ranked luxury markets that is perpetually in demand, Beverly Hills continues to be untarnished and idolized as the Mecca for luxury. Hollywood Hills is currently a hot market for buyers.
8. Idaho. The growing resort markets in the state garner attention for the state that is making its presence felt in the luxury home market.
9. Jupiter, Florida. The boom has arrived here after Tiger Woods’ purchase of a 10-acre estate for $38 m. The market continues to surge on this exclusive island.
10. Manhattan Uptown, downtown, midtown. The luxury market is upbeat with record sales of more than $5 m in 2006 accelerated by Wall Streeters. Co-ops and town houses are favorites among buyers here.
If you are interested in buying or selling a home, condo or any other type of real estate in any of these markets, be sure to seek out the services of a real estate agent to advise you about current local market conditions.