San Diego County 2002—2009

Pending Sales Point to Strong Last Quarter

Pending sales of single-family, re-sale homes were up 131.3% year-over-year in August.  Compared to July, the number of sales actually went down 13.6% in August. Year-over-year, home sales were up 0.5%. Year-to-date, home sales are up 18.7%.  The median price slipped 0.4% from July, and was off 4.9% compared to August 2008. The average price rose 0.7% month-over-month, but was off 6.6% year-over-year. It's nice to see the year-over-year differentials in the single-digits.

Click here Market Trends by San Diego Area / Zip code

Tax Credit Effective Until November 30th

• Maximum credit amount $8000
• Primary residence
• Purchasers will continue to receive refund for unused amount
• Income Limit: no more than $75,000 individual or $150,000 on a joint return 
• First-time Homebuyer Only:  at least 3 years since owning a home 
• Recapture: If home is sold within three years of purchase, the $8,000 tax credit must be paid back.
• Termination: Purchase Must be completed by 30 November 2009 (normal escrow time is now 45 days)

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October is a favorite month for us.  The days are still warm enough to have a picnic on the beach yet there is a cool crispness to the evening breeze.  The summer tourists are gone, the restaurants have tables open again, Balboa Park & Zoo is less crowded, the theater season has started and of course the World Series (sans the Padres) and football fill the air. School has started so parents can get back to a more normal schedule.  The frenetic days of summer have slipped away, and we are made subtly aware of the beginning of the fall season. This month we’ll start “the holidays” and making plans, watching for sales for gifts, planning home decoration and trimming (are you ready for this??? Never).

We just stocked up at Costco for Halloween and will be out there picking out a Pumpkin. It is time for autumn leaves, apple pie, pumpkin carving and homecoming football games.  Enjoy the Julian Apple Day Festival or go to the East Sierra to see the Aspen trees turning the mountainsides into a jaw dropping and inspiring red and gold.

The low interest rates and incentives are impacting market (sales in San Diego have been up).  If you want to take advantage, our experienced team is here to help!  

Best wishes for a happy October!

Ruth & Jim, Ray and Joni