June 2016

There are 5 blog entries for June 2016.

millennial crossing a city street

According to a National Association of REALTORS (NAR) report, Millennials are the largest generational group of homebuyers and have been for the last three years in a row. This suggests that Millennial home buying preferences are likely to have a significant impact on real estate markets across the nation. Moreover, recent data shows that Millennial homebuyers rely on real estate agents at a higher rate than other generational cohorts.

35 percent of homebuyers belong to the Millennial cohort

The Millennial cohort makes up 35 percent of real estate buyers and is the largest generational group in our current markets. Per a recent generational trends report conducted by NAR, 67 percent of Millennial buyers are also first-time homebuyers. The latest

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Real estate tranaction

(c) Can Stock Photo 

Baby Boomers are a cohort 67 million strong, which means their real estate preferences influence our housing markets in marked ways. Recently released survey data shows that the cohort possesses all but approximately one-third of our nation’s home equity, which means their home buying decisions factor immensely in our real estate markets.

Results from a recent survey show that although a number of Baby Boomers are happy in their current homes, approximately 27 million plan to be in the housing market in the near future. The same survery provided insights into what features they would like their future homes and communities to offer.

Baby Boomers hold the lion’s share of our nation’s home equity

Earlier this month,

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Real Estate for sale sign

(c) Can Stock Photo

In May, home prices were on the rise and the most expensive listing to sell in San Diego County had a La Jolla address. In recent months, home prices have increased across the nation, but San Diego County real estate has seen higher increases than a number of other American cities.

The median price for resale homes in San Diego County rose 9 percent from May 2015 to May 2016, according to data released by the Greater San Diego Association of REALTORS. This number is also up 6.6 percent from its figure in January of this year.

Moreover, single-family home prices rose 2 percent from their figures in April, and condo and townhome prices increased 5 percent. May’s median single-family home price was $570,000, while the condo

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Green sea turtle swimming in ocean

(c) Can Stock Photo

There are a lot of interesting and exciting things going on in La Jolla, and one of them was one hundred years in the making. Moreover, recent real estate data has led to a noteworthy prediction about the summer housing market and an intriguing look at how much square footage new single-family homes have to offer.

1. La Jolla Tennis Championship is a match 100 years in the making

The longest running tennis tournament to be held at the same venue continuously in the entire world is the La Jolla Tennis Championship, which will delight spectators for the 100th time next week. According to an article in La Jolla Light, more than 900 players ages 10 to 80 will compete in the 100th La Jolla Tennis Championship, which will be

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A little toy house sittig on a mortgage application

(c) Can Stock Photo

New mortgage finance programs with down payments as low as 3 percent have hit the market during a time when, according to the National Association of REALTORS, pending home sales have reached their highest level in more than ten years.

The newest of these programs is through Wells Fargo & Company and offers buyers mortgages with down payments as low as 3 percent. According to The San Diego Union-Tribune, the new mortgage program offers an alternative to loans backed by the Federal Housing Administration (FHA), which have a minimum down payment requirement of 3.5 percent of the home’s purchase price. Per the article, most large banks have veered away from offering FHA loans.

In a press release, Wells Fargo stated that the

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