San Diego Housing Market this Week 09/05/2010

Hello this is Joan Wilson with Prudential California Realty. I want to talk with you today about the housing market this week, the first week in September.

Single Family Homes in San Diego

There are 8447 active Single Family Home listings on the San Diego market today. There are 1617 sold listings in San Diego within the last month. This means that we have a little over five months worth of inventory in single-family homes.

Within the last week there have been 611 new homes listed. Within that same week there have been 331 homes sold.

 If you take a look at the active inventory and you look at that in comparison to the new weeks worth of listings, here are a couple of interesting facts. Homes listed within the last week listed at a little over $288 a square foot. Looking at all a homes in the active market. The square-foot price is an average of $349 a square foot. That is a drop in square-foot price of over $61 a square foot.

If you look at the inventory sold within the last 30 days, and the inventory sold within the week, you will notice that the square-foot price went from a little over 247 to a little over 245 the square-foot. That is a drop in price of $2.64 a square foot. You also notice that the inventory data sold this week has been on the market for five days less the average time on market.

Condos and Townhomes in San Diego

Now let's take a look at that townhomes and condos for sale in today's market.

There are 4090 active condo listings (condos, townhomes, etc.) in the County of San Diego today. 882 condos have sold within the last 30 days. This means we have an active inventory that will last us a little over four months.

If you look at the active inventory versus the new listings for the last week, you will notice that the square-foot price has dropped from a little over $343 a square foot to just over $295 a square foot. That is a drop of over $48 a square foot.

Let's to look at the sold inventory within the last 30 days, versus the sold inventory within the last seven days. You'll notice that the average price per square foot went up from a little over $236 a square foot to $241 a square foot. That is an increase of $4.50 a square foot. You will also notice that the time on the market hasn't changed any still 71 days.

Of course, it all gets down to, what does this mean to you?

Buying a home in San Diego

Well if your buyer, it means that homes are priced closer to the market value and that there is still room in to negotiate because there is a lot of inventory on the market. School have started, so there are fewer buyers in the market and more choices available for you.

Selling a home in San Diego

If you're selling, there is a lot of inventory out there and people are still looking for those good deals. You need to price your home to sell today, because obviously you don't want to give away your hard-won equity. Bottom line price your home to sell.

Call us today to take advantage of the current market in San Diego County. We are here to help.

Joan Wilson ^{(Realtor, SRES, Ecobroker, Certified REO, HAFA, and Short Sale Specialist)}

California Cool 4 Sale

Prudential California Realty

Direct Phone: 760-757-3468

800-975-7481 x 111

Fax: 760-946-7894

JoanWilson@prusd.com

License # 01341483

Find Your Dream Home:

http://JoanWilson.PrudentialCal.com

http://HAFAHAMP.net I wanted to let you know that we have a revised list of over 100 lenders and loanservicers that are participating in the HAMP (Home AffordableModification Program) and HAFA (Home AffordableForeclosure Alternatives) programs available. If your lenders name shows up on this list, you should be able to negotiate a loan modificationor a pre-approved short sale very easily if you qualify.

Wells Fargo, Chase Bank, and Bank of America include several additional company names that are participating. In addition, as you may knowFannie Mae and Freddie Mac are already participating in their own version ofHAMP and HAFA.

You can pick up a complete list on my website http://HAFAHAMP.net under the document library section. 

If you need help, please feel free to pick up the phone andcall me at 760-757-3468 or 800-975-7481 x 101. I am here to help. Thank you Joan Wilson, Prudential California Realty.

Short Sales and the documents you need.

The question that I get asked more than any other question is, “what is the charge for your services?” I want you to know that you pay nothing for our help. We are paid by your lender, and only when we have completed a successful transaction. If someone wants to charge you for this type of service, that is illegal.

These are the documents that you will need to start gathering for your lender.

Gather the following:

The last 2 months bank statements

The last 2 months pay stubs

The last 2 years tax returns.

Keep these documents up to date at all times. You will not have to send them to the lender all the time, but they will want updated documents as time goes by.

You will also need to fill out an asset and liabilities form…I have a copy on the first page of my website. http://ShouldIShortSaleMyHomeNow.com This sheet shows where your money is coming from and where your money is being spent.

You will need to write a hardship letter too. This is pretty easy.

• Refer to the property and the loan number
• Tell them your story. Have you been transferred, are you in the military, lost your job, etc. Keep it under one page.
• Ask for their help applying for the HAFA program to short sale your home.
• Let them know that you will provide them what ever they need.
• Indicate that Joan Wilson with Prudential California Realty is helping you sell your home and will help provide them any additional information they need.

Then all you need to do is pick up the phone and give us a call. We will help you negotiate with your lender. Call us today. We are here to help.

760-757-3468

800-975-7481 x 101