San Diego Real Estate Market Tops List
January 3rd, 2011 Categories: Carlsbad, Market Trends
Carlsbad, CA–Home buyers often ask, “Where do you think the San Diego real estate market is headed in the next few years?” Our real estate license doesn’t come equipped with a crystal ball, but we have anecdotal indications that the market has bottomed and now DS News.com reports that the San Diego, Carlsbad and the San Marcos metro areas may comprise the strongest real estate market in the country.
The five strongest real estate markets projected for 2011, according to DSNews and subscription-based Veros Real Estate Solutions, are:
- San Diego / Carlsbad / San Marcos, CA 3.5%
- Kennewick / Richland / Pasco, WA 3.4%
- Pittsburgh, PA 2.7%
- Fargo, ND-MN 2.6%
- Washington / Arlington / Alexandria, DC-VA-MD-WV 2.5%
There are generally good projections for real estate markets in Texas, Louisiana, Arkansas, Oklahoma, North Dakota (oil), South Dakota and Iowa–with signs of strength spreading to areas of the Midwest.
Still in the tank, but less so than last year, are several real estate markets in Florida (including Orlando, Daytona Beach and Port St. Lucie), as well as Reno, Nevada and Boise, Idaho. In these areas, further price depreciation from -6.3 to -7.2 percent is projected. As bad as that may seem, it beats prior double digit decreases in home prices.
It appears our economy in on the mend and it’s great to see San Diego, Carlsbad and San Marcos lead the country in projected 2011 real estate appreciation. And our anecdotal observation confirm this projection: Our phones are ringing with inquiries about homes for sale in San Diego–and many are coming from out-of-area buyers who have decided to follow their dream of moving to one of our coastal communities.
Special thanks to Denver real estate expert Kristal Kraft, who forwarded this information to me earlier today.
This entry was posted on Monday, January 3rd, 2011 at 4:21 pm and is filed under Carlsbad, Market Trends. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
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Tuesday, January 4, 2011
Great news if you're working the Real Estate Market in Carlsbad, San Marcos and San Diego.
Monday, December 13, 2010
Our country's Top CEO's expect job growth next year. This shows we're on our way back!
Survey Also Reveals Concern About Current Economy and Economic Growth Next Year CHARLOTTE, N.C., Dec 09, 2010 (BUSINESS WIRE) --
Financial executives at U.S. companies expressed more optimism that their businesses will hire employees and see revenue growth in 2011, according to a recent Bank of America Merrill Lynch survey.
Of the 801 executives surveyed in the bank's annual CFO Outlook, 47 percent said they expect their companies to hire additional employees next year, up from 28 percent who forecast hiring last year. Only 6 percent said they expect layoffs, compared with 9 percent last year. In addition, 64 percent of CFOs expect revenue growth in 2011, up from 61 percent last year.
"Despite the challenging economic climate, many CFOs have growing confidence that their companies have weathered the worst of the storm and are poised for expansion," said Laura Whitley, Global Commercial Products executive at Bank of America Merrill Lynch, who oversees the delivery of debt, treasury and liquidity solutions to more than 140,000 commercial and institutional clients. "Although concerns about the economy remain, the increase in CFOs who expect to hire employees could be crucial to improving the nation's unemployment rate."
Financial executives gave the current economy a score of 47 out of 100, up slightly from last year's score of 44 - the lowest in the 13-year history of the annual CFO Outlook. Despite that improvement, CFOs weren't as optimistic about U.S. economic growth. Only 56 percent said they expect expansion in 2011, compared to the 66 percent of CFOs who forecast economic growth a year ago.
Other notable findings in the survey:
- When asked what will have the biggest impact on the economy in 2011, CFOs ranked healthcare reform No. 1 at 54 percent, followed by the budget deficit at 52 percent and the housing market at 43 percent.
- Related to the above, CFOs' top financial concern by far is health care costs, followed by revenue growth and cash flow. The top concern last year was revenue growth.
- Only 27 percent of CFOs expect the cost of capital to increase, compared to last year when nearly half of CFOs expected a higher cost of capital.
- Executives at manufacturing companies generally were less positive about their sector than CFOs at services and commodities companies, which include construction, retail, transportation, finance, education, health care and food service businesses. Only 47 percent of manufacturing CFOs predicted expansion their sector vs. 58 percent of CFOs in other sectors.
Conducted by Granite Research Consulting, the CFO Outlook helps Bank of America Merrill Lynch better understand how financial executives view the economy. The results were compiled from phone interviews of 801 CFOs, finance directors and other executives selected randomly from U.S. companies with annual revenues between $25 million and $2 billion.
Interviews were conducted from mid-September to late October. The margin of error is /-4 percent. The full report will be available in January.
Bank of America
Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 57 million consumer and small business relationships with approximately 5,900 retail banking offices and approximately 18,000 ATMs and award-winning online banking with 29 million active users. Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in more than 40 countries. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.
Bank of America Merrill Lynch is the marketing name for the global banking and global markets businesses of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., member FDIC. Securities, strategic advisory, and other investment banking activities are performed globally by investment banking affiliates of Bank of America Corporation ("Investment Banking Affiliates"), including, in the United States, Banc of America Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated, which are both registered broker-dealers and members of FINRA and SIPC, and, in other jurisdictions, locally registered entities. Investment products offered by Investment Banking Affiliates: Are Not FDIC Insured * May Lose Value * Are Not Bank Guaranteed
SOURCE: Bank of America Merrill Lynch
Reporters May Contact:Jefferson George, Bank of America Merrill Lynch, 1.980.683.4798jefferson.george@bankofamerica.com
Wednesday, December 8, 2010
Investing in the US Real Estate Sector
Investing in the US Real Estate Sector
The U.S. real estate industry has been experiencing wonderful growth over the last years due to the relatively steady good economy. In 2006, some markets posted major gains in occupied space, others saw record sales transactions, and even where the market has begun to tighten, developers remained cautious possibly keeping an eye toward the future, particularly predictions of escalating rental rates.
Aruvian’s R’search’s focus report on Investing in the US Real Estate Industry is the ideal guide to have an overview of the real estate industry. The report covers all the major markets, that is, the office market, retail, industrial, and investment. An analysis of competition, focus on industry trends and growth trends, issues and challenges facing the industry, a PEST analysis, and much more can be found inside this report. A comprehensive analysis of the major investment markets in the US is also given in the report, along with a focus on the major market players.
Key Chapters :
A. Executive Summary
B. Industry Overview
Industry Definition
Market Overview
Office Market
Industrial Market
Retail Market
Investment Market
Factors Driving Industry Transformation
Issues Affecting the IndustryC. PEST Analysis of the US Real Estate Industry
D. Growth Trends Analysis
E. Competition Landscape
F. Major Investment Markets
Atlanta
Baltimore
Boston
Chicago
Cincinnati
Cleveland
Columbia
Dallas
Denver
Detroit
Houston
Indianapolis
Kansas City
Las Vegas
Los Angeles
Miami
New Jersey
New York
Philadelphia
Pittsburgh
Portland
San Diego
San Francisco
Tampa Bay
Washington D.C.G. Major Players
American Realty Investors
Forest City Enterprises
Jones Lang Laselle
LNR Property Corporation
St. Joe CompanyH. Industry Outlook
I. Appendix
J. Glossary of Terms
For more information kindly visit : http://www.bharatbook.com/detail.asp?id=161377&rt=Investing-in-the-US-Rea...
Related Reports
Investing in the Global Real Estate Sector
http://www.bharatbook.com/detail.asp?id=161368&rt=Investing-in-the-Global-Real-Estate-Sector.htmlInvesting in France’s Real Estate Sector
http://www.bharatbook.com/detail.asp?id=161381&rt=Investing-in-Frances-Real-Estate-Sector.htmlOr
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Here's a great article.
Thursday, October 28, 2010
Wednesday, October 13, 2010
Here is a great Q & A from Sign On San Diego regarding the foreclosure moratoriums. If you're purchasing an REO or working with a buyer on an REO, check with your Title and Escrow Company on when they will allow you to close.
Q&A: What's going on with foreclosures?
Some voices call for nationwide halt, others warn of 'catastrophe'
Originally published October 11, 2010 at 5:44 p.m., updated October 11, 2010 at 5:44 p.m.
What's going on with foreclosures?
The White House will be meeting this week with officials from all the major federal banking regulators - including the Office of the Comptroller of the Currency and the Federal Resreve Bank - to mull over how to address growing questions over how to handle the nation's banks foreclosures.
Over the past two weeks, some of the nation's largest lenders have stopped seizing homes in 23 states, and Bank of America took the lead in imposing a nationwide moratorium until it holds an internal investigation on how the foreclosures were approved.
Senate Majority Leader Harry Reid has called for a nationwide halt to foreclosures and California Attorney General Jerry Brown - on the campaign trail for the governor's seat - has called for the seven biggest lenders to stop foreclosures in the state.
So far, the White House has balked at any nationwide moratorium, and the banking industry has warned that it would be "catastrophic" if such a shutdown occurred. An estimated 5 million to 7 million homes are currently pending foreclosures nationwide, compared to 200,000 foreclosures that have been affected by the 23-state moratoriums.
But after recent revelations about flaws in the foreclosure process, pressure is mounting to find a solution to what appears to be a wide-reaching problem. Here are answers to questions consumers might have about foreclosures.
Q: Why have banks started freezing some foreclosures?
A: The immediate problem comes from so-called “robo-signers,” who often signed thousands of foreclosure actions each month without checking to see that all the documents were in order. The banks insist that the vast majority of these homes have been in default for as long as 18 months and that a significant number of homes are investor-owned properties that have never been occupied. But critics charge that the banks have also foreclosed upon homeowners who were paying down their loans up to the moment they were told their homes would be seized.
Q. How did this problem take place?
A. Lenders say they were unprepared for the massive wave of defaults and foreclosures that occurred over the last few years. After cutting back workers during the early phase of the mortgage crisis, they were did not have the staff needed to adequately handle the foreclosures, so they started rubber-stamping them.
Q: How long will it take to resolve the robo-signer problem?
A: BofA - the only lender to have halted foreclosures in all 50 states - estimates that it could resolve the issue in as quickly as two or three weeks. Stan Humphries, an analyst with Zillow.com, an online real estate database, estimates that it could take 60 to 90 days for the entire industry to deal with the "robo-signer" problem. But Humphries adds that the process could take longer if political pressure mounts for a wider-reaching examination of foreclosures.
Q: What other problems have surfaced with foreclosures?
A: More than seven states are now investigating claims that lenders used forged documents to speed foreclosures. In addition, because of the way that mortgages have been outsourced over the past decade, it is sometimes unclear who has the right to foreclose - the lender or the loan-servicer. Bank analysts say that's a minor glitch, but it has been become the subject of several lawsuits.
Q: How have California mortgages been affected?
A: So far, BofA is the only lender with a moratorium that affects California. Other lenders, including Ally Financial and JP Morgan Chase, have halted foreclosures in the 23 states that require a court’s approval before a home can be seized. California is not one of those states. But Attorney General Brown has called for all banks to stop foreclosures until they can prove they’re complying with state law, which prohibits lenders from recording notices of default on any mortgages made from 2003 through 2007 unless the lender contacts or tries diligently to contact the borrowers to see if they qualify for a loan modification.
Q. What effect will this have on the housing market? And what does this mean to people who want to buy a foreclosed home?
A. Foreclosure sales currently account for 43 percent of the California market, according to RealtyTrac, a real estate data firm in Irvine. To the extent that these problems begin to show up in California, it could put a temporary roadblock in front of a sale. One problem: title insurance firms are shying away from any sale involving a questionable foreclosure. But real estate analysts say that as long as the problem is solved quickly - say, 60 to 90 days - it should have relatively little impact on the market. Rick Sharga, RealtyTrac's executive vice president, said he's noticed little impact from the moratoriums that have recently gone into effect.
In my opinion, this will not be a nationwide catastrophe as the news puts it, but rather a hiccup in the REO process and real estate market. The real estate economy is a must fix for the US government as it creates tons of revenue for local and federal governments. It also creates jobs in the form of contractors, builders, real estate professionals, title and escrow companies, appraisers, the list goes on and on.
To have a hiccup like this should only serve as a short lived stall in production.
Thursday, September 9, 2010
Introducing California Title's NEW Web App for most smartphones. This web app is the only app that links our site to your smartphone. Login with your current username and password and have access to property information, in the palm of your hand.
My Best,
Mike Turner
Vice President
County Sales Manager
California Title Company
760-535-3836
miket@caltitle.com
Keep California Golden! Please don’t print unless absolutely necessary.
Confidentiality Notice: The information contained in this electronic e-mail and any accompanying attachment(s) is intended only for the use of the intended recipient and is non-public in nature and may be confidential and/or privileged. If any reader of this communication is not the intended recipient, unauthorized use, disclosure, dissemination or copying is strictly prohibited, and may be unlawful. If you have received this communication in error, please immediately notify the sender by return e-mail, and delete the original message and all copies from your system and promptly destroy any copies made of this electronic message. Thank you.
Friday, September 3, 2010
California Title offices will be closed on Labor Day, but our Sales Reps will be available ALL WEEKEND. Don't hesitate to call us if you need information for showings or listings over the weekend.
My Best,
Mike Turner
Vice President
County Sales Manager
California Title Company
760-535-3836
miket@caltitle.com
Keep California Golden! Please don’t print unless absolutely necessary.
Confidentiality Notice: The information contained in this electronic e-mail and any accompanying attachment(s) is intended only for the use of the intended recipient and is non-public in nature and may be confidential and/or privileged. If any reader of this communication is not the intended recipient, unauthorized use, disclosure, dissemination or copying is strictly prohibited, and may be unlawful. If you have received this communication in error, please immediately notify the sender by return e-mail, and delete the original message and all copies from your system and promptly destroy any copies made of this electronic message. Thank you.