RENTERS SAYING BYE-BYE TO LANDLORDS, HELLO HOMEOWNERSHIP!
High Rent Prices and lack of inventory are pushing many into buying a home of their own. Given the competitive situation and ongoing high rental prices, we have seen an uptick in renters looking into becoming homeowners. The problem that we face here in San Diego is the lack of inventory for entry level priced homes. So, the numbers I am going to share with you are not going to make sense at first, but stay with me ;-)
We have seen closed sales begin to cool down for much of the county and everything points to that continuing, however this is not due to the lack of buyers “we have plenty of buyers” we actually have an inventory shortage. Here is what I mean: We have a 1.2% decrease in units sold compared to this time last year, yet the Median Sales Price has increased7.4%, while Inventory Decreased a shocking 15.9%.
Author:Joseph Arendsen Phone: 760-672-0174 Dated: October 6th 2016 Views: 265 About Joseph: Having been raised in North County San Diego, Joseph has a great wealth of experience and knowledge ...
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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.
Who Said the Market Slows Down During the Holidays???With the holidays
"We used Joseph Arendsen to help us locate a home. That turned out to be a great decision. Mr. Arendsen helped us to locate and buy the home, when the competition was stiff, and negotiated a good sales price. Throughout the process he was a strong advocate and we received many concessions from the seller that we did not expect. Mr. Arendsen was very knowledgeble and was able to recommend a good broker, inspectors, termite inspection, etc. We would not hesitate to use him again."