For the last two years, we have watched the steady climb of home prices happen across the nation. For us here in San Diego, we have actually been experiencing this rise for almost 7 years now... and shows no sign of slowing down!
Just this summer, prices have already made a 6% average increase across the county...that happened in just 2 months?? So after 7 years, you can imagine how significant an impact this has been on some homes.
The climb is a direct result of the current market's lack of inventory. We currently hold 26.7% less inventory today than we did a year ago. That means that active home sales today become hosts to lots of multiple offer situations, lots of appraisal issues and LOTS of happy sellers! Sounds good to me! But we have to wonder, when is this going to slow down??
My short answer is yes, maybe and no. Summer is coming to an end, and we can expect to see a slight decline in buyer activity during this time..however with this consistent inventory shortage plaguing our current housing market, we can't be certain whether or not this brief lull in activity will have a leveling impact on the market. What we need to have happen is for our inventory to increase up to a 3-month supply. This would allow for the market to finally regain balance and prices to level out to a more stable 3% rise per year. While the solution really is that simple in theory, the real world here continues to show no indication of this happening any time soon, therefore our prices will continue to climb with no signs of slowing down.
Having been raised in San Diego, Joseph has a great wealth of knowledge of each community San Diego has to offer. Combined with being extremely hard working, having a great attention to detail, and having the ability to listen Josephs clients receive an elite level of service.
[March 2018] Spring is Here! San Diego is Blooming... and th
"I found Joseph through Yelp, and despite his excellent rating, I watched him for months with an eagle eye for signs that he was at the end of his rope with my demands or giving less than 100% towards my home search/negotiations/escrow. Well, his dedication never flagged, and he remained professional even when we (ok, just my husband) got grouchy.
Throughout, Joseph was honest about his knowledge of our targeted areas, never over-inflating his opinion, and his advice always came with the deference to our wishes (unless we were about to make a huge mistake!). He is familiar with some pretty diverse pockets of San Diego County, but really made it a point to understand our tastes and needs. He drove me to countless showings, always with an organized plan, and scoured the new listings for us though we did use his helpful on-line search site too. We were implementing a 1031 exchange, so he helped us with projected rental prices, and is following through with his offer to assist in finding renters and maintain the properties (he does some limited property management for his family's company).
I think one of Joseph's best qualities is that he loves what he does. Things that appear as huge roadblocks to the client are enticing challenges for him. Buying or selling, I feel confident in recommending Joseph Arendsen as a person on whom you can rely."