Smarter San Diego Real Estate

Smarter San Diego Real Estate Making You Smarter than Everyone Else about the trends in San Diego Real Estate! Learn how markets are moving, when to LOCK your rate vs. when to FLOAT.

Everything you need to know to have a better understanding of the SD Real Estate Market!

11/12/2024

How high could BitCoin go in Trump's 2nd term & why do mortgage rates keep going up?

11/07/2024

What are we likely to see both from the FED and the Stock, Crypto and Real Estate markets in a 2nd Trump term...

Foreclosures down in a big way and they weren't even bad to begin with..." ATTOM, a leading curator of land, property da...
10/15/2024

Foreclosures down in a big way and they weren't even bad to begin with...

" ATTOM, a leading curator of land, property data, and real estate analytics, today released its Q3 2024 U.S. Foreclosure Market Report, which shows a total of 87,108 U.S. properties with foreclosure filings during the third quarter of 2024, down 2 percent from the previous quarter and down 13 percent from a year ago.

The report also shows a total of 29,668 U.S. properties with foreclosure filings in September 2024, down 2 percent from the previous month and down 19 percent from a year ago."

Nearly half of people getting home loans are not getting very sound advice...Here is how to calculate this:Take the cost...
10/07/2024

Nearly half of people getting home loans are not getting very sound advice...Here is how to calculate this:
Take the cost of your rate buydown (we'll say $6,000) and divide that by the amount of monthly savings (we'll use $200/mo). So 6000/200 = 30 so you have to have this mortgage and make 30 payments on it just to break even on your buydown and really you'd need another 30 months or so to really make it a good investment. So the question is, do you think you'll still have this loan in 60 months/5 years? Unless this market cycle is way way in outer space, rates are headed lower in the coming years and refi opportunities will be there. My advice is to not pay points at this time!

If you do not already own all the real estate you want to in this life... it is time to get to work. Last time the FED c...
09/20/2024

If you do not already own all the real estate you want to in this life... it is time to get to work. Last time the FED cut rates from ~2.39% to ~0% and home prices went up ~42% on average in the US in less than 3 years. They have continued to climb higher, although market conditions have not been ideal with the average interest rate for a Conventional mortgage reaching ~8% in both Oct 22 and Oct 23. Now, the Big party is getting started and most people are still sleeping on it. An important side note...this time they are starting from ~5.33% Fed funds rate, so there is even more fuel for the fire. We don't know they'll take it to 0% again, but if you look at the last 3 times the FED cut rates:

Jan 2001: Starting at ~6.51%, they cut to ~1.0%
Aug 2007: Starting at ~5.25%, they cut to ~0%
Aug 2019: Starting at ~2.41%, they cut to ~0%

Link in comments! Giddy up!
Derrick Evens - VA Home Loan Specialist - NMLS 155010
[email protected]
c 619.952.2046

Average American spends 330K on rent BEFORE they decide to buy a home according to Zillow. Link in comments. This is so ...
09/06/2024

Average American spends 330K on rent BEFORE they decide to buy a home according to Zillow. Link in comments. This is so much worse than I thought. I have more work to do!

Homebuyers are putting record size down payments and people are DM'ing me that I'm not reading it right LOL AVERAGE down...
08/30/2024

Homebuyers are putting record size down payments and people are DM'ing me that I'm not reading it right LOL

AVERAGE down payment is 18.6%, highest ever on record. But yea watch out for the market to crash...UP! (link in comments)

Up 5.4% YoY and rates have JUST started to drop...talk to me again about your "Crash" theories? I'm all ears!
08/27/2024

Up 5.4% YoY and rates have JUST started to drop...talk to me again about your "Crash" theories? I'm all ears!

Well there you have it...Will it be 25bps or 50bps next month? Market seems to think 50, but the key here isn't what hap...
08/23/2024

Well there you have it...Will it be 25bps or 50bps next month? Market seems to think 50, but the key here isn't what happens in Sept, but the overall stance they are taking. Time to shift from tightening to loosening. Money will flow in to the system. This is inflationary, but typically when these cycles start, stocks/assets go down in the short term, then go drastically higher after. We shall see! Mortgage rates hit a fresh 2024 low today!!!

Call me for a quote! 619.952.2046
Derrick Evens - VA Home Loan Specialist - NMLS 155010

This one is good for anyone who thinks inventory is "spiking"... Only 4 states have returned to pre-pandemic inventory l...
08/02/2024

This one is good for anyone who thinks inventory is "spiking"... Only 4 states have returned to pre-pandemic inventory levels and just barely. FYI, the market was super-strong going in to the pandemic when it went ballistic.

PS - rates are dropping again today! If you're getting my rate alerts, expect a text this afternoon with details!

07/30/2024

This new data should prompt us not to jump to conclusions, but to assess the data and get an understanding of where we are in this market cycle. We will look at new home supply, overall demand and also the homeownership rates for right now compared to the peak before the crash to see if we notice any similarities. This is the way!

07/30/2024

New Home Inventory is growing - is it finally time for Home values to drop?

07/23/2024

We need to have a chat about Stocks, Real Estate and the Election

07/23/2024

Its time we have a chat about the Markets. Real Estate, Stocks, Crypto and the Election. Planning to be LIVE today around 4pm PST

07/10/2024

MASSIVE REFI OPPORTUNITY for FHA/VA loans effective immediately. HUGE incentives from large wholesale bank that is pricing out rates we haven't seen in a long time. Message me for a quote! c 619.952.2046

I don't think most people realize what rates actually are right now and that's the problem. I've had people call me and ...
06/19/2024

I don't think most people realize what rates actually are right now and that's the problem. I've had people call me and ask "are rates still like 8%?" Never short a boring market. That is some of the best advice of all time. It just means, you shouldn't bet against a market that seems boring. Right now, the real estate market is as boring as I've ever seen it. Guess what happens next?

Get free/quick rate quotes any time:
c 619.952.2046
e [email protected]
Derrick Evens - VA Home Loan Specialist - NMLS 155010

CNBC reports a higher % of people than ever before think now is a "bad time to buy a home" and yet this is the reality. ...
06/12/2024

CNBC reports a higher % of people than ever before think now is a "bad time to buy a home" and yet this is the reality. Not only his this reality, but this is all happening in a "bad market" with high interest rates. What do you think things will look like when rates drop a bit and the masses start to change their tune? No one can stop what's coming. Best of luck to everyone!

P.S. Soft inflation report today and rates dropping NICELY ahead of FED announcement later today

06/07/2024

When people ask me if they should wait to buy a home...

Me: Which do you think is said more often?
1 - "I'm so glad we waited to buy a home. This worked out so well for us."
OR
2 - "I'm so glad we bought a home when we did. Imagine if we were trying to buy with today's prices."

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