Video není dostupné.
Omlouváme se.
Did San Diego Home Prices Just Peak?
Vložit
- čas přidán 15. 08. 2024
- Is San Diego’s real estate market really cooling off? For the first time, I’m a bit unsure about what we’re seeing. From low consumer confidence to a surprising lack of new homes, what we are seeing right now is unique. I’ll dive into what’s happening with supply, demand, and those pesky rising costs. If you're thinking about moving to San Diego or curious about homes for sale, this video breaks it all down.
📅 Schedule a Free 30 minute Discovery Session video call with Dan Parker and the Best Life Home Team today and take your first step towards your dream life! Book now at search.bestlif...
📍 Plan out your relocation to San Diego with our San Diego Relocation Book (COMING SOON!)
👋 Need help with finding your perfect home? Connect with us! Shoot an email to info@bestlifehometeam.com or give us a ring at 619-719-1122.
🏠 Check out the hottest properties in San Diego with just a click: search.bestlif...
👷🏡Download our SD County MASTER New Construction List (updated monthly) - www.bestlifeho...
💡 Want to know the value of your current home? Use our ACCURATE Home Value Calculator and find out now! www.bestlifeho...
💯 Need an agent recommendation outside of San Diego for buying or selling? Check out our list of preferred and vetted agents around the country - homeandmoney.c...
🙋♂️ Follow Dan on Instagram for daily inspiration and updates on the San Diego real estate market: / danpbestlifesd
Dan Parker & the Best Life Home Team, Brokered by Real Broker | DRE 02043651
#livinginsandiego #danparker #bestlifehometeam
Q&A about the current market
Q: What are the signs that the real estate market is cooling off in San Diego County?
A: Signs include a decrease in home sales, longer time on market for listings, increased buyer hesitancy due to affordability issues, and rising interest rates impacting mortgage payments.
Q: How does consumer confidence affect the real estate market?
A: Consumer confidence influences buying decisions; lower confidence can lead to reduced demand as buyers become more cautious about investing in property.
Q: What is the current supply and demand situation in San Diego County?
A: While demand remains relatively stable, supply has been constrained due to limited new home construction and existing homeowners hesitant to sell, maintaining upward pressure on prices. Over the last few months, we are starting to see supply increase, although it's not nearly to the 2015-2020 levels which were considered closer to a healthy market.
Q: How are rising interest rates affecting home buyers in San Diego County?
A: Rising interest rates increase monthly mortgage payments, making homes less affordable and causing some buyers to delay purchases or seek lower-priced options.
Q: Are home prices expected to drop significantly in San Diego County?
A: Significant drops in home prices are unlikely due to low inventory and strong financial buyers, but there may be slight corrections or slower price growth.
Q: What factors are contributing to buyer hesitancy in the current market?
A: Factors include higher mortgage rates, increased property taxes, rising homeowner’s insurance costs, and general economic uncertainty.
Q: How does the current market compare to the 2008 housing crisis?
A: Unlike the 2008 crisis, today’s market is characterized by low inventory and strong financial buyers, rather than oversupply and widespread lending issues.
Q: What should potential home buyers consider in this cooling market?
A: Buyers should be patient, look for motivated sellers, negotiate better terms, and consider the long-term benefits of purchasing in a desirable area like San Diego County.
Q: Is it still a good time to buy a home in San Diego County?
A: It can still be a good time to buy, especially if you find a property that meets your needs and can negotiate favorable terms. Future interest rate reductions could also improve affordability.
Q: What are the prospects for future development and buildable land in San Diego County?
A: While buildable land is limited, ongoing and planned developments continue to offer opportunities for new homes, especially in less densely populated areas.
What do you think about the current state of San Diego’s real estate market? 🏡 Are you surprised by the trends we're seeing? If you're thinking about moving to San Diego or looking for homes for sale, I’d be happy to chat. Feel free to reach out at info@bestlifehometeam.com or call/text 619-719-1122.
If there’s a housing market crash San Diego is probably the last area to crash. We’re running out of land in San Diego and cost to build is too damn high.
You are everywhere 😂
@@ReeLSpirit I’m in San Diego and this guy is spot on with current market 😂
There is plenty of land. It just costs $300k to get permission to build after a 3-year review process.
@@KevinSmith-qi5yn I don’t have $300k to spend just to get a permit 😂
@KevinSmith-qi5yn yup tried to build in jamul and the county kept putting up barriers for our permit
Inventory is increasing a tiny bit. Existing homes on market longer. Sellers coping, with buyers refusal to overpay. Noticeable drop in inquiries to service homes… all and the only stocks going up recently are chip stocks. Yes, slightly uncertain but deals are opening up, just expect sale price to dip a tad, but it might not dip more than 5%
if you really are confident rates are going to drop now is the time to buy. lower rates will improve supply, but will increase demand more
Yes for correction, no to it being back at pre pandemic. Safety, convenience and location are always important. San Diego county is just too popular and our economy is doing well than other counties in our state. Local Fallbrook resident.
They need to regulate short term rentals as well,
If youre thinking "the market wont crash because of all the cash on the sidelines!"
Just know this cash aint coming off the side lines anywhere near these prices.
And if that means i dont get to buy any time soon, believe me when i say i am in no hurry. Only fools are buying right now.
You guys probably saw the recent news article that San Diego was just named one of the most "impossibly unaffordable" housing markets in the *world*. That was computed using the house price / income measure. I don't think it would be bad to have home prices drop modestly.
You’re too late 😂. Last year we were voted the most expensive place to live in the country
@househacker Based off of household income. If you're going to comment read past the headlines. There's way more expensive places to live in the country.
@@ZuluNation05looks who’s here the crashbro. 😂 Any luck with your house hunting
I'm not looking. Just keeping track of patterns an actual data. Was a realtor myself buddy. I know how to read between the lines when it comes to housing. Keep cheerleading.
@@ZuluNation05 you were probably a horrible realtor 😂.
Do you have a San Diego first time home buyer guide for 2024?
I don’t think market is gonna crash. The house that I had loved and couldn’t secure due to competition back in 2021 was $1.3 M. Now, the same house is over $2.4M. Even if the prices crash in future, it’s still not gonna fall far off. Crazy insane prices in San Diego is the new reality. If we find a house that we like and can afford today, I think we should go for it. Truth is, incomes are not rising as the house prices are, so affordability is pretty much the same and will remain same or go south considering San Diego rising to being the most expensive city in the U.S. I will keep looking for what I can get in this market.
If a price crash happens, it’ll drop to $1.5M-1.8M? Still higher than 2021…
Too much military spending to cause a crash here
is vid synced with sound?
You hit the nail on the head Dan! Potential home sellers have less reason to sell when they can rent our their home and make a significant profit which decreases the supply, and you can also add the option of AirBnB ing your home out here in San Diego, a major tourist destination. As a potential home buyer, Im also factoring in the new hurdles in homeownership like insurance and the fact that half of San Diego is now a "firezone" "Like"
Once unemployment hits harder in the depression coming up, they’ll be so cheap almost be giving homes away and still people won’t want them 😢
We’ve been waiting 4 years for this crash. Everyone refinanced in 2020 with a killer rate. I won’t be surprised if it doesn’t crash.
I’ve been talking to potential buyers my entire career over the last 7 years that were convinced a crash was incoming, and waited on the sidelines. I’m with you, I don’t see a crash coming.
slow down aii over ca , rate high , price tag over price . collection needed . sd still a great place especilaly by the water
I would hate to be dealing with Florida. What's happening there is absolutely outrageous.
What’s happening there?
And this SELL will happen just DON'T KNOW WHEN!!! BUT WILL HAPPEN REGARDLESS OF COST OF LABOR AND MATERIALS OR POPULATION OR LAND TO BUILD!!! OR WHAT SO EVER!!!
We got outbid on a property in San Marcos just this week. People are still buying and paying above asking! Lots of ppl have made a lot of money in the stock market this year alone.
Dont forget about the beaches always being closed because Tijuana sewage contamination
i Cant wait to watch this two years from now with the "Aged like milk" tag..
Lol, I’ll always give my opinion and analysis of what I expect to happen, but there’s zero guarantee.
I’m curious what you mean. Do you think the market is going to crash or keep shooting up?
No, they are still going up.
To make a story SHORT, a business man want to gain some profits he must sell some goods. A real estate investors wants to gain some CAPITAL GAIN THEY MUST SELL SOME REAL ESTATE!!! 😁👍👍
This is just the beginning, 2024 = 2008
Simple you don't buy shit in San Diego. Born and raised in San Diego just don't move here don't buy in San Diego is not expanding on creating houses . It's expanding on apartments . Don't buy a house 800+ credit score and 6 figure job and all mortgages are 4-5k a month 😂
8-9k Mortgage
@@jessicapalacios1673 and that's in the "hood" too 😂