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SAN DIEGO REAL ESTATE & MORTGAGE REPORT

Published since 1980 discussing local and national economic trends 

For Smart Phone Readers, please click on the selection tab in upper right corner to view the Report.

All mortgage lenders, great and small, must immediately adhere to the auction results reported below, as these auctions determine the pricing of fixed-rate mortgages nationwide.  By comparing today's results, with past auction results, one can measure changes for all fixed-rate mortgages.    No one, of course, knows which way rates may go from day-to-day, let alone hour-to-hour, so we naturally cannot be held responsible for market shifts, nor for the charts and data gathered from independent sources.
 

-Current Retail Discount Pricing:
30yr. Fixed-rate: 3.00% (3.36% APR)
06/04/2020 2:00 PM
WORM TURNED (?)
FNMA wholesale 30yr. fixed-rate mortgage auction results: 2.38%, up .10% from Wednesday and that much higher against April and May's average.  If there was a target for these auctions, induced by Fed purchases, it's 2.28% or there about.  That's the price  investors get when buying these fixed-rate mortgage securities,  which seems like a good buy vs 10yr. treasuries at .8%. But that was before the latest unemployment report today showing it had dropped from 20% to 13% just in 30 days.  Stocks took off (DOW up 829 pts to 27,110), attracting investors away from these smaller yields.  With overblown fears of a deadly pandemic abated,  many analysts outside of mainstream media figure a new act has just been tossed onto the stage in hopes of continuing fear and anxiety--perhaps all the way to the elections.  Others see these bad actors getting rounded up. This 3rd party spreadsheet tracking all district court recordings count an incredible amount of sealed indictments totaling over 148,000, and one indictment can have multiple individuals named.
BRAVE NEW WORLD (?)
FNMA wholesale 30yr. fixed-rate mortgage auction results: 2.26%, back to May 1st level, after reaching a new low of 2.20% on 15/15/2020.  If Rip Van Investor had been asleep for one year and woke up to a yield on a 10yr. Treasury note at .63% from 2.30% back then, and went to his local bank and was stopped because he wasn't wearing a mask (when it normally  would have likely triggered a silent alarm and a police escort out of the bank), he'd think he walked into the Twilight Zone.  From a booming economy and record low unemployment, to Depression levels of 20% and businesses banned, he learns it's all from a flu virus.  In San Diego, he reads a chart  today displaying 220 deaths and California has 3630.  He whips out his calculator and divides 220 by 3,325,000, the population of San Diego County, and gets .0066% death rate.  In California, with a population of 40,000,000, the figure is .009%.  Wondering what's a good baseline, he figures about 40,000 annual deaths on the highway and divides that number by 330,000,000 people = .012%.  So the chances of  San Diegans dying from Covid-19 is almost half that of driving on the highway.  He fumbles his calculator and reaches for his pace-maker that's missing a beat, and reminded that 500,000 Americans die each year from heart attacks. His calculator says that's a .15% death rate, and keels over and back to slumber.  
BRAVE NEW WORLD 2020 SCI-FI(?)
What once was required reading in high school, these two books are gathering several decades of dust on them.  Summary from Sparknotes:  "Like George Orwell’s 1984, this novel (Brave New World) depicts a dystopia in which an all-powerful state controls the behaviors and actions of its people in order to preserve its own stability and power. But a major difference between the two is that, whereas in 1984 control is maintained by constant government surveillance, secret police, and torture, power in Brave New World is maintained through technological interventions that start before birth and last until death, and that actually change what people want. The government of 1984 maintains power through force and intimidation. The government of Brave New World retains control by making its citizens so happy and superficially fulfilled that they don’t care about their personal freedom. In Brave New World the consequences of state control are a loss of dignity, morals, values, and emotions—in short, a loss of humanity."
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May 1st, 2020
MAY DAY A RECORD DAY
FNMA wholesale 30yr. fixed-rate mortgage auction results: 2.26%, slowly creeping down over the last 2 weeks, 1/8% lower than April's average to an all-time record low.
While these wholesale prices look amazing to see, retail lenders see risk in closing the loans, only to have some go delinquent before even selling to Fannie Mae or Freddie Mac, as borrowers line up asking for forbearance.  This higher risk translate to lenders padding their prices and instituting tighter guidelines.  Major corporations are forming a different line, putting up corporate bonds sales estimated at $240b  to pad their reserves in case business doesn't bounce back soon.   Billionaire Elon Musk isn't following the narrative for continuation of shutdown: 

Musk did not doubt that there was a public health issue at large, but he felt allowing governments to end all economic activity as a means to safeguard health was Orwellian, to say the least.

“The expansion of shelter-in-place, or as we call it, forcibly imprisoning people in their homes, against all their constitutional rights, is, in my opinion, breaking people’s freedoms in ways that are horrible and wrong."

04/13/2020
SQUEEZIN' BLOOD OUT OF A TURNIP (?)
FNMA wholesale 30yr. fixed-rate mortgage auction results: 2.34%, down .03% from last trade day on Thursday, lowest this year, and since the average of 09/2012.  Back then on 9/12/12, the Fed announced the purchase of $40b in these mortgage-backed securities on a monthly basis, which produced 2.33% average for that month.  Today, for the upcoming week, the schedule calls for roughly $19.5b.  Assume that is the pace over the next 30 days, the figure adds up to $78 billion, nearly double the amount the Feds threw at the market in 2012.  Will rates fall further?  With the companion 10yr Treasury  yielding a miniscule .732%, a historical low, it would seem there really isn't much lower the market could go.   
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04/07/2020
DEATH OF THE FEDERAL RESERVE IS GREATLY EXAGGERATED (?)
FNMA wholesale 30yr. fixed-rate mortgage auction results: 2.46%, up a slight .01% from yesterday, staying in a narrow trading range, aided by FED purchases of these mortgage-backed securities.  For several years now, the Trump Administration has wondered what life would be like without the Federal Reserve.  Considering it is a privately owned (not publicly as we all once assumed) institution, and the owners own the 12 very large member  banks, they get to instruct the Treasury to print money and give (loan at very low discount rate) to their own member banks, who loan it out at higher rates and also invest in stocks, bonds, and other securities.  Nice work if you can get it.  This group was established in 1914 to provide stability in the markets, but the track record, as famed economist Milton Friedman once said, is not a good one. 
Economist Thomas Sowell explains why he agrees.
Other nations prefer to steer clear of this kind of private control by a handful of elites and some are choosing to trade in other currencies outside of the "Petro-Dollar." fearing the potential of a weakened  Dollar from unlimited printing.  Recall there  once was a closely watched index call M-2, money supply measurement to monitor inflation potential,  but few mention this anymore. The charts say maybe we should.  M-2 over the last year grew by 6.8%  but GDP grew by less than half of that so that other half doesn't represents the result from goods and services produced and sold. This chart shows growth from 1959 to present and note it took 40 years for money supply to grow to $5 trillion, but this doubled from there in half the time to over $15 trillion.  Purchasing hard assets like real estate (while rates at historical lows), gold, silver and other precious metals would be good ways to defend against what is bound to come sooner or later. 
04/01/20
APRIL FOOLS RUMORMONGERING (?)
FNMA wholesale 30yr. fixed-rate mortgage auction results: 2.48%, up .10% from yesterday, exactly even with March average, as stocks drop (DOW at 21,168 by 750pts) due to more fears of virus projections, while a real war lies below the surface.  What if the virus ends up killing less people than the 80,000 who died here in U.S. from a common flu in 2018, and is a smoke screen to eradicate an enemy described long ago by John F. Kennedy in his speech warning about the dangers of secret societies?  What if these secret societies with nefarious goals own and control central banks around the globe, and Trump Administration just closed one of their head quarters here in the U.S. known as The Federal Reserve (a privately owned corporation who are also owners of its member banks)?  What if all communications are shutdown for 3 days as part of a global roundup of what's known as New World Order Cabal?  What if all of this is one big April Fool's joke?
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FNMA wholesale 30yr. fixed-rate mortgage auction results: 2.38%, up .10% from yesterday's record low start, but still over 1/2% below February  average.  Stocks attracted money flows from the credit markets yesterday, and still holding their own this A.M (DOW at 22,396), as news that Chinese manufacturers showed "an unexpected strong rebound...

China’s official service sector purchasing managers index climbed to 52.3 in March from a record-low reading of 29.6 in February...The PMI readings were well above expectations and almost too good to be a true for an economy that is still not fully functioning at its pre-crisis optimum level, said Michael Hewson, chief market analyst at CMC Markets, in a note."

Another surprise is the Dollar rose higher, even as Treasury printing presses worked over-time, preparing for the $2 trillion U.S. relief aid package. 
As low as these wholesale mortgage auctions have gone since February, lenders are awaiting a clear and stable level before diving lower.  That's why it is best to have your loan in processing, awaiting significant moves. 
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03/27/2020
COMPUTER VIRUS OF A DIFFERENT SORT (?)

FNMA wholesale 30yr. fixed-rate mortgage auction results: 2.41%, down .03% from yesterday,  with the hour glass trend indictor above saying it's getting better all the time and likely beating the lowest return in 2020 and back in September 2012. Stockholders thought the same, and got off the mat,  rising after last week's knock-out punch  (DOW up 20% in last 3-day run),  running around the ring like Rocky Balboa unchained, but got decked this morning (down 719pts at 21,815) with news headlines saying more in U.S. inflected than China's total.  CDC says there were 80,000 deaths in the U.S. in 2018 from the flu, or 219/da on average, but did anyone notice except next-of-kin?  While hospitals and clinics have lines of panicked people awaiting testing to see which kind of flu they might have, this new one, though more contagious,  has killed only 1300 so far.  Some analysts call the real threat a "computer virus," like digital communications spreading panic and fear electronically via TV sets 24/7 throughout the world-- one that could endanger the global economic system by continuing the status quo.  Far more deaths and misery, they say, would occur similar to the '30s depression.  President Trump is calling for a return to work following Easter Sunday, and have the 20% most likely threatened--the elderly and those with impaired immune systems-- continue self-quarantined at home. 

While lenders are slow to jump on this latest movement until a series of new lows register, best to get loans in process, awaiting solid movement lower.  When businesses re-open, it's likely these record lows will be over.

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03/26/2020
FNMA wholesale 30yr. fixed-rate mortgage auction results: 2.44%, down .06% from yesterday morn, and improving per the trend monitor above. 
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03/25/2020
FNMA wholesale 30yr. fixed-rate mortgage auction results: 2.50%, down .16% from yesterday, and just .10% higher than the lowest results since 03/06/202.  President Trump wants the business quarantine ending by Easter Sunday, April 12th. These rates, brought down by a virus, could easily rise back by 1/2% to pre-virus levels if state and local governments cooperate and open businesses again. 
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03/24/2020 7:30AM
FNMA wholesale 30yr. fixed-rate mortgage auction results: 2.66%, up .06% from yesterday, and what's trending on the price monitor above says that launch yesterday by the FED after opening today was experiencing turbulence.
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03/23/2020 8:00 A.M: 
HOUSTON...WE HAVE LIFT OFF !
FNMA wholesale 30yr. fixed-rate mortgage auction results:  2.60%, DOWN .42%, from early auction results   on Friday (and it got worse during the day), probably the largest one day decline ever posted in these daily returns, as FEDs roll up their sleeves and give it all its got. Over the weekend, the FEDs said they ready to buy "unlimited" amount of funds to the bond market to keep rates low, so like the QE of old, they out buying up new mortgage-backed securities, and it's working.  Overnight lending to member banks' chart, the first troubled indicator spotted weeks ago, has taken a sharp turn downward to just 3.55b on Friday.  But like all emer-gencies, it may not last long.  Some are indicating this virus strain is showing signs of weakening, so the best bet is  to
get your loan in process, as it is one of the few things a homeowner can do while self-quarantined at home.  The optimal results could be a potential waiver of appraisal to avoid appraiser house calls, a lower monthly payment, and cash out to stockpile 6 months of  living expenses, as it could be a rocky road from here.  Call or write today to see if you qualify for appraisal waiver via Fannie Mae or Freddie Mac automated approval--for free.  The worst case scenario on mortgage pricing was a real one for one day, and summarized below (see No Free Lunch).
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03/19/2020
NO FREE LUNCH (?) 
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.02%, UP .31% from yesterday morning, as the best laid plans of mice and men (and women) not working yet--and the trend monitor above shows it ain't getting any better after the initial auctions.  Many analysts say lenders are raising rates to stem the surge of loan applications, but these auction results say that's not the case, as the auctions are a result of global demand by institutional investors for this product.  High demand lowers the rate and vice-versa.  These rates shot up after it became apparent that new massive government debt will need to be financed if everyone gets "free" money from Congress and the Administration.  Last figure from President Trump was: "it will be big."
Will the FEDs go to the QE well one more time and buy up these mortgage-backed securities to increase market demand and lower the rates?  It worked well in the past albeit at lower debt levels.  Does the phrase: "gone to the well one too many times" apply here? The market will tell us in so many words from here on. 
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03/18/2020  2 PM
CONSPIRACIES GALORE (?)
FNMA wholesale 30yr. fixed-rate mortgage auction results: 2.71%, up .02% from yesterday, as the wheels fall off stocks (down 1,338 to 19,898), with headlines that shout out: loss wipes out  all of Trump's gains since his Inauguration in 2017.  If ever there was a conspiracy to defeat Trump with any means necessary, this would fit the bill.  Of course, conspiracies involve secret colluding using nefarious means, so no evidence here just yet.  Plans are afoot to put $2000 check in the mail to Americans to the tune of $500B (works out to about 250 million people) which  is a far better idea than  the $750B  given to bureaucracies like State governments back in  2008 stimulus and whittled away.  That would help to pay household bills while future data determines the real threat.  Tax deadlines would be extended as well.  Latest chart on Fed overnight lending to member banks shows a total of $243b  over last 3 days, but the good news is it has receded to $52b today, nearly half the amount as Monday.  
REFI BONUS
Mesa Pacific is open for business, existing in cyberspace since 1998.  We have been obtaining appraisal waivers more now than anytime before.  Please write or call to determine if you are eligible, as Fannie Mae and Freddie Mac loan pre-approvals you receive come with this written guarantee.  A regular visit to our website offers an automated hourly national rate trend monitor.  Righ now, you will find the needle in the red zone under worsening conditions, but maybe see some green tomorrow. 
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03/17/202
PLUGGIN' THE DIKE (?)
 FNMA wholesale 30yr. fixed-rate mortgage auction results: 2.69%, up .06% from yesterday, as apparently it is not all downhill from here.   Stocks finally perked up  this A.M. by 517pts, albeit after getting hammered down nearly 9000 pts to 20,719. The chart on  FED overnight lending spiked to $100b yesterday, so we not out of the dog house yet.  The Rate Trending Meter above will indicate where this Mortgage market is headed from here today.  As another indicator of liquidly squeeze, the FEDs announced an opening up of a commercial paper facility because banks/institutional dealers likely didn't have adequate  funds to roll-over short-term business debt used for things like payroll.  Rates there had risen by 1%, not seen since 2008 mortgage meltdown era, so now the FEDS will be plugging that dike, injecting funds here for the foreseeable future.  Gold, the place to go when other markets get queasy, had a rough day a week ago Monday, but that's because financial institutions were scrabbling for cash to meet stock sell orders, so they reached for their gold and sold it.  It's now making a comeback, up 3%, and still in reach for mom & pop to buy at around $1534/ounce to put under the pillow, if they too are feeling queasy.  Silver is a cheaper alternative but rises with gold. 
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03/16/2020
QE # WHATEVER (?)
03/16/2020 9:00 A.M:
FNMA wholesale 30yr. fixed-rate mortgage auction results: 2.63%, down .36%, as the FEDS force these mortgage rates down the old fashion way called quantitative easing.  The FEDs, no doubt through conference calling on Sunday, slashed short-term borrowing rates to zero, but also pulled out some old QE medicine for the mortgage market: $700b in purchases of mortgage-backed securities.  As the auction results confirm, this now working and more than likely will help unplug the mortgage origination pipeline. Chart on overnight lending to member banks , which was the first sign of liquidity problems last week, dropped to 22.75b on Friday, from two day previous highs of $95b.  FED efforts to calm stock markets not working just yet (DOW down 1,897pts to 21,200) as  news of two U.S. emergency docs , one in his 40s,in serious condition from corona virus .  
FRIDAY THE 13TH WEEK (?)
03/13/2020 9:00AM
FNMA wholesale 30yr. fixed-rate mortgage auction results: 2.99%, UP .18% from yesterday morning, and UP .66% from the bottom that didn't stick for long on 03/09/21, as the markets got  whipsawed with a financial storm not seen since  October 1987, called Black Monday.  It was Friday, the 16th, when what looked like a typo on a screen, showed these mortgage auction rates had jumped a phenomenal 1% from a day earlier.  Stock players saw this action in the bond market and proceeded to the exits, and by Monday, the stock market had  lost 22.6% in value, largest one day drop in history.   Back then, the Dollar was falling regularly against the Yen, hitting new lows, and Japanese investors had enough of that and moved in unison by selling all Dollar denominated debt, shooting up these yields.  The funny thing is, like a global vacuum getting filled, the rate fell back to what it was prior to the sell-off as global investors saw bargains and bought up Dollar denominated debt.  Today, it appears to be a liquidity problem that stirred up these markets.  As pointed out earlier, huge chunks of cash were being printed out of thin air to support bank balance shortfalls at the Fed window called Overnight Repurchase Agreements.  In the past, large banks lent to one another overnight to shore up each others' balance sheets, but they suddenly claim it's cheaper to have the FEDs do it.  It started 9/17/19 with $40b,  but, as the chart shows, blossomed to $74b on Monday, when stock dealers were pressed with sell orders and went to their banks for the cash to cut the checks to stock sellers.  The figure rose to $95b daily thereafter.  Now the Feds say they will make (create) $1.3 trillion Dollars available.  This band aid will work for now as stocks recovered this morning, with DOW up 256pts, but as some wise old sage once said, "you can't borrow your way into prosperity." Rumors are a new system will be coming by 2021, that will take out the old,  and restore the global financial system onto a sound path for the future.  Buying hard assets now, like real estate and precious metals, seems like the thing to do because future currencies will be backed by one or more of these items, and  also serve as a hedge against inflationary winds that may be ahead.  
LEAPING LEAP YEAR (?)
03/06/2020 9:00AM
FNMA wholesale 30yr. fixed-rate mortgage auction results: 2.40%, down .07% from yesterday, and a sudden leap from the plateau that held rates in check since 2/07/2019--down to levels not seen since September 2012.  Back then, the markets and consumers were still licking their wounds,  recovering from the Great Recession.  While many might assume these low fixed rates are masterminded and controlled by the Fed Reserve, which just lowered short-term rates by 1/2% on Tuesday,  this mortgage market, like 10yr. Treasuries, is open to worldwide investors, money managers and the like, and rates are subject to the whims of these buyers and sellers (which is why the Fannie Mae daily (hourly) pricing is called auction results.  These players are in sympathy with the FED, realizing all is not good with a virus that can potentially curtail  business activity worldwide.  Whether this thing escaped a lab, escorted out of the lab, or mutated from a bat is being questioned along with how severe it is.  How much further these rates go down will be based on answers to these questions.  But the bets are off if inflation spikes from flooding the market with more Dollars and fewer goods being produced, since the classical definition of inflation is "more Dollars chasing fewer goods."  In our real estate market in San Diego, we have a prolonged case of more buyers chasing fewer listings and the results are  posted in the adjoining column.   While many homeowners may have a current rate of 3.50%, it's no good if you can't pay it. Consider a refinance at around 3.00% with cash out.  Sage financial analysts have always advised to have 6 months  of monthly expenditures in a savings account to prepare for a recession that might not end well for any  job one has now.  Hard assets like real estate, physical gold and silver (not the paper certificates) are important to own for a hedge against inflation-- that is, if you have the perception  the Feds can't just keep printing more Dollars out of thing air without inflationary repercussions down the road.
02/07/2020  9:00AM
FNMA wholesale 30yr. fixed-rate mortgage auction results: 2.95%, down .02% from Thursday, and down .36% from December's average, as the markets ignore today's sizzling new job gains of 225,000 and a Presidential  impeachment dismissal, and take stocks for another rollercoaster ride downward (DOW down 277pts after breaching new highs).  Not everyone was taking China's word on the limited spread of this new virus, especially after expanding their quarantine to cover over 50 million.  And now the markets feel the same reluctance, wondering about the negative impact for the global economy.  Fears always favor the relative safety of the bond market, so if fears wane, so will these rates.   Fed Reserve officials will have more to say on this next week.
01/03/2020 9:00 AM
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.22%, down .07% from yesterday, and lower by .09% from December's average, as U.S. airstrike on Iranian general sends some quivers through the market.  Headlines say DOW at 28,635 lost 234pts on the news, but that followed  a new all-time high of 28,868 on Thursday, and still above the year-end of 28,515.  Gold (up $2.80) and oil (up $2) are also places investors headed, and waiting to see what happens Monday.  With the exception of deep state bad actors, since neither Trump Admin nor Iran want war, it would be a good time to lock rates in on Monday A.M.  After all, the Fed printing presses will be hard at work having to deal with an estimated $1.1 trillion dollar deficit that could easily result in higher inflation and interest rates.
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12/06/2019 9:00 AM
A GRINCH NO SHOW ?
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.30%, even with yesterday, and only .01% higher than November's average, despite Job gains of a whopping 266,000 for November.  In days of old, numbers this high would cause the credit markets to mover rates higher on all long-term fixed-rates, figuring the Feds would move and raise short term rates to stave off higher inflation down the road.  But since the Dollar strengthened on the news, global money managers stayed the course (albeit 10yr Treasury yields rose .04% and could migrate to these mortgage-backed security Monday), and spread the wealth around, pushing stocks higher (DOW up 337pts to 18,015, near the all time high of 18,174 on 11/27/19), as strong wage growth and consumer sentiment up per Michigan index rising  s portends higher holiday sales.  But beneath the veneer of all the happy numbers and shoppers, could the ghosts of Christmas past be lurking in the shadows?  Since September, the Feds have pumped in (printed) $320 billion into the repo market , a place where big banks lend to one another overnight to shore up balance sheets.  If this becomes a never ending patch work, it's anyone's guess what Christmas 2020 will look like.  
11/01/2019  3PM
THE MARKETS VOTE "AYE"
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.17%, down .09% from yesterday, and a significant .18% lower than Wednesday when Fed announced a 1/4% cut in Fed Funds rate.  The credit markets got added fuel from the October Employment Report, showing a 3% increase in wage growth from a year ago, signaling inflation is not a problem just yet, while stocks (DOW up 262pts to 27,309) liked the strength in job growth at 128,000 new jobs.  That's not so great a number except 45,000 auto workers were on strike and September payroll revisions showed an increase to 180,000 from the initial 136,000.  All this good news on the economic front amidst Congress vote on setting rules for impeachment hearing.  After Speaker Pelosi called Trump "totally ineffective" mid-week, no doubt many in Congress who voted "aye"  squirm in their seats on today's employment data, where blacks have  broken thru the  lowest unemployment on record at 5.4%.  Ineffective?  The markets certainly don't see it that way.
10/03/2019  9:00AM
WHISTLIN' IN THE WIND ?
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.03%, down .20% from the 1st, and .09% from September's average,  as both stocks (DOW up 372pts to 26,573, 3% away from all time high) and credit markets   continue to reap the benefits of moderate inflation and and economic growth.  While plenty in the media can't wait for some evidence for impeachment of Trump, hoping that more anonymous second hand whistle-blowers might hit pay dirt, investors ignore the hype and do their own whistling-- to the bank. 
09/23/2019 9:00 AM
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.18%, DOWN .14% from Friday, as soft data from Europe gives global investors reason to head back to U.S. denominated debt like these mortgage-backed securities-- and their will be a heap of U.S. debt coming tomorrow totaling $113b, so supply may weigh on these yields.  
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09/16/2019 9:00 AM
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.33%, up .125% from Friday, and losing all the gains made since that low hash market reached on 09/05/19 (see below), and returning to July rates. The attack on Saudi oil fields over the weekend not only  shot up oil prices  $7  to $61.88/bl, and gold up $6.40 to $1505.90, but also these mortgage rates picked up some of the shrapnel fallout.  A steady rise in stocks by some 884 points in the DOW that kicked off on 09/05, took a slow toll on the credit markets and these mortgage rates, rising  almost daily since the last report, and wounding borrowers who did not lock in the pricing on their mortgage loan.  With lots of finger-pointing as to who will be assigned the blame for the attack, if real history holds any clue, it will initially be the wrong party.
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09/05/2019  3:32 PM
FEDS UNMASKED?
FNMA wholesale 30yr. fixed-rate mortgage auction results: 2.87%, DOWN .12% from the last trading day in August,  and a whopping .42% from July's average.  These rate declines don't seem likely to continue if stocks continue on the rise (DOW up 372pts to 26,728) since global institutional investors have to favor either stocks or bonds to be ahead of the game, but not both.  With the ADP report showing private sector job increases of 195,000, the hand will likely tilt toward stocks if the employment report tomorrow confirms this surge.  Others look to new trade talks being scheduled with China as additional boost for stocks.  Still, the credit markets are relaxed, figuring the Feds won't be raising rates any time soon with President Trump holding the trump card.  That card says the President can fire Fed Board Members.  While rising prices on goods due to a continued trade war with
China might be considered inflationary, it's a one-time cost increase event.  This tension between Trump Administration and Federal Reserve has been simmering for about a year, particularly when Feds starting raising rates.  Incredibly, a former Fed Reserve Board Member Dudley has openly called for the Fed to get politically involved in the upcoming Presidential election to stop Trump from reelection by torpedoing the economy via higher interest rates-- Yipes!
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08/07/20197:32 AM
STAR WARS BLUES (?)
FNMA wholesale 30yr. fixed-rate mortgage auction results: 2.97%, DOWN .39% from 8/01/19, lowest since 10/24/16, as stockholders head to safety of U.S. credit markets, leaving the DOW down 303pts this morning to 25,719.  Gold is also is in the winner's circle, up $30 to $1515, which is often used as a hedge against uncertainty. But when uncertainty is based on Disney park attendance that fell flat with their new rides, it is a wonder what the trigger points are for global stocks these days (Disney led stock declines).
Rumors are there is more in stock for Disney, and it won't help their stock prices anytime soon. In the meantime, the real ride is a good one for home-buyers.
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07/12/2019 9:00 AM
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.42%, up.17% from Thursday, but matching Wednesday's return, but light years away from the recent low that hit on 6/20/19 of 3.08%.  Feds look to be lowering rates in July, in a nod to President Trump to keep the economic fires burning, while the credit markets wonder if it is they that will get burned from inflation when and if it heats up.  Wholesale producer prices are up 1.7% from a year ago, lower in  over 2 years. its only hot from food prices (corn up 19% due to floods).  They say gasoline prices down 5% but out here in California, another tax hike hits poor and rich alike, up another 7.5% and kicked in 7/01/19 bring total Fed and State to 65.76 cents per gallon (that $14 bucks where 7.75% sales tax is on this tax for a 20 gallon tank).  Fill up once a week and you contributed $728 dollars to roads and repairs-not.  See: California's Soaring Gas Taxes Aren't Even Going to the Roads
For downtown San Diego residents, it gets worse, as politicians seek to stuff you into buses.  447 parking spaces on the street  are giving way to bike paths used by a handful of bicyclists and will shrink motorist lanes, all to fight global climate change on this tiny speck of land called Downtown San Diego.
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6/20/2019 9:00 AM PST
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.08%, DOWN 1/4% from yesterday, and lowest since 11/08/2016, supposedly all on fears of Iranian conflict.  Strange financial world we are in as these fears don't show up in stocks, other than oil stocks, as DOW hits new record highs at 26,796, up 276pts from yesterday. Considering President Trump doesn't want war with Iran and Iran doesn't either, who exactly is doing all the shooting? 
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6/07/2019 9:00 AM PST
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.33%, DOWN .07% from yesterday, lowest since 9/11/17, as employment growth disappoints with 75,000 new jobs in May when the market expected 175,000.  Stockholders see opportunity knocking with lower rates as DOW rises 275pts. to 25,988.
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6/06/2019 9:00 AM PST
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.40%, even with yesterday, and down 1/4% from May's average, as Feds talk of lowering rates to offset the effects of higher tariffs.
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5/13/2019 9:00 AM PST
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.65%, down .05% from Friday, and .11% below April's average, as stocks take a hit (DOW down 646 pts to 25,288) and investors shift proceeds to U.S. credit markets from U.S./ China trade impasse.
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05/03/2019 1:00 PM PST
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.80%, up a slight .03% from yesterday, and only .05% from last month at this time, as a new employment report gets stronger than last month, with 263,000 new jobs.  More important to the credit markets are wage gains since wages make up 2/3rds of inflation gauge.  Like last month, they rose 3.2% from last year's measurement.  Another 3.2% showed up this week, and that was the GDP growth figure for the 1st Q, strongest 1st Q since 2015.  Businesses are spending more on capital goods, though there are noticeable weak spots in auto sales and shrinking retail outlets.  A real test for the U.S. credit markets has already come and gone as the appetite for U.S. debt is unabated following some $374 billion absorbed by global investors in the 1st quarter.  Only 30 billion is on tap for the 2nd q  which gives these mortgage-backed securities some breathing room in the competition.  Could that lead to a decline in these rates?
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04/05/2019 08:00 AM PST
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.75%, up .04% from yesterday,  and up 1/4% from the low reached on 03/27/19, as employment report today shows the economy is bouncing back with  new jobs increasing by 196,000, a far cry from February's 33,000.  The credit markets focus most on  wage increases where inflation gets embedded, which eased off to 3.2% from 3.4% in February. 
With 180,000 average monthly growth in new jobs in the first quarter,  all this moved the interest rate needle up and reduced  fears of recession down the road. 
How do you receive a minimum of $2500 savings compared with the competition?. By simply comparing prices.  Call or write today for a loan summary.
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03/25/2019 08:00 AM PST
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.60%, down .02% from Friday, as the credit markets hold on to new position, while stocks get a slight bump with DOW reversing gears and up 30pts. 
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03/22/2019 08:30 AM PST
SOMETHING HAPPIN' HERE...WHAT IT IS AIN'T EXACTLY CLEAR
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.62%, DOWN .07% from yesterday, and nearly 1/2% lower than the 1st of this month, as Feds say no more rate increases while watching the 10yr German or Japanese bond slip below zero yield.  Attn: Global investors.  Raise your hand if you want to pay interest on a 10yr. government  bond, or prefer to be paid interest of  2.46% over the same time period on a U.S. note.  Or, if unsure about committing that long, try a 3 month U.S. bill yielding slightly more.  Yep, that's the dreaded inverted yield curve on the lips of analysts these days and now registering briefly today. Much like reading tea leaves, it allegedly portends recession down the road.  Stockholders got chills from this reading of what could be, as DOW sinks 460 pts to 25,502.  In a way, stockholders create a self-for-filling prophecy as they sell  out of fear and put their proceeds into bonds, which drive interest rates lower.  One thing seems likely is these lower rates make home purchasing more attractive, along with stocks that ride on the tail of the housing market.
Are politics also at play here?  With Mueller report now in and available Sunday, Monday's opening prices will determine if this movement is an anomaly or a continued trend.
________________________________
03/06/2019 08:30 AM PST
JAWBONING THE FED (?)
FNMA wholesale 30yr. fixed-rate mortgage auction results: 4.03%, down .06% from yesterday,  and up slightly from February average of 3.99%. Some analysts are waiting for the other shoe to drop in the mortgage market, as annual budget deficits of  roughly  $1 trillion dollars pile up like gigantic snow drifts where the U.S. now finances  23% of the total projected  budget of 4.4 trillion in 2019 expenditures.  The thinking goes with so much debt to choose from, investors will hold back purchasing Dollar denominated debt until rates rise high enough to attract them. But the market says otherwise, as these rates have stayed steady, more so than seen in the past.  With President Trump jawboning the Fed about rate increases, they seemed to have listened and backed off raising short-term rates.  It's hard to argue against success, as stocks are up about 40% since Trump took office. 
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2/1/2019 08:30 AM PST
FNMA wholesale 30yr. fixed-rate mortgage auction results: 3.95%, down .06% from yesterday, and 1/8% lower than January's average, even as stocks climb out of January hibernation with DOW up 64 pts to 25,064, following a serious pratfall late last year.  The stock markets got what they wanted: the Feds announced they are backing off further rate increases and a strong jobs report today of some 304,000 new jobs created, biggest increase in almost a year, signaling more growth ahead.  The credit markets don't seem concerned  just yet over wage increase of 3.2% in January data, which can fuel inflation. Over the horizon, though, the U.S. government will be running yet another trillion dollar deficit, which could be troublesome as other countries start to shift their allegiance  away from this debt instrument called the Dollar and trade outside of it.  If so, a declining value on the Dollar will not bode well for any Dollar-denominated debt, including these mortgage-backed securities and force rates higher. 
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12/19/2018 02:30 PM PST
FNMA wholesale 30yr. fixed-rate mortgage auction results: 4.19%,
down .06% from yesterday, despite another Fed rate hike of 1/4% on short-term rates today.  Stockholders continue to shed their holdings with DOW at 24,000
prior to the announcement and ending 352 pts. lower.  No doubt many plowed their proceeds into these mortgage-backed securities and other Dollar-denominated debt, driving rates lower.
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12/07/2018 08:00 AM PST
FNMA wholesale 30yr. fixed-rate mortgage auction results: 4.34%, even with yesterday, but lower by .18% from November's average, as stocks continue wild swings, but mostly on a downward trajectory. The DOW is down 275 pts to 24,625, some 900 pts lower since December 1st, despite a decent job growth number of 155,000 in November.  But Feds may back off of planned rate increase later in the month to calm the equity markets.  Very little is mentioned about Danske Bank, Denmark's largest bank, being included with Deutsche Bank in money laundering schemes.  Big names in public and private sectors may get swept up here.
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DIRTY LAUNDRY ?
12/01/2018 08:00 AM PST
FNMA wholesale 30yr. fixed-rate mortgage auction results: 4.42%, down .02% from yesterday, and .07% lower than October's average, as the U.S. credit markets keep a low profile with Fed Reserve easing on tougher tightening stance of last month.  The DOW rose 199 pts today (25,538) on expectations that the meeting this weekend between Trump and Xi of China will reduce trade tensions.  Speaking of tensions,  rumors run amok that disclosures of arrests of large crime syndicates are forthcoming and that  the Deutsche Bank raid last week involving massive money laundering is just the tip of the iceberg.  If so, these rates should head lower as investors seek safe haven in U.S. denominated debt.
 
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1
RESIDENTIAL SALE TRENDS~ 
San Diego Market- Sneak Preview of May Sales Data
June 7th, 2020
PHOENIX RISIN' (?)
Out of the ashes of a self-induced economic slump that brought us Depression era unemployment rates of some 20%, comes statistical signs here in San Diego that this too shall pass.  Detached pending sales, always a harbinger of home sales to come, shot up in a trajectory not seen in normal times, depicted by this chart, up an amazing 59% in just one month. This happening on the heels of some woeful sales numbers for detached homes against last year at this time: 1220 sold, down 44%,  active listings down 41%, dollar volume, down 47% (putting the squeeze on local government revenue).  Sellers, not buyers, were deterred by the virus, as buyers jumped in: based on speed of sales, just 29 average days on the market, May's timing still  rivals with the best on record posted this April at 26 days.   While new listings are down 28% from last year, they too rose from the ashes, up 32% from just a month ago.  With the chart showing active listings limping along the same low line from December to now, there's plenty of elbow room for new sellers to enter this market.  Gauging by  a look at medium sold prices showing  only a miniscule gain of .9% over last year, waiting for greater gains at sale doesn't appear to be worth the wait.
For a  list of properties that fit your criteria, and info on cash rebates to buyers that average $4000, contact Mesa Pacific today. For an example of how our "no cost listing" works, click here​.
(All data is unofficial and subject to change)
May 1st, 2020
IT'S BEGINNING TO LOOK A LOT LIKE CHRISTMAS (?)
While a far cry from media headlines throughout April,  Christmas data is here in San Diego real estate.  Yes, homeowners got yet another gift as the chart shows a new record high in detached median sales price, up 4.7% from last April to $683,000.  The pace of  sold detached sales was a staggering 28 average days on the market, beat only by one month going back in July of 2004 at 23 days, and sold price was 99.2% of list price, even with March for the best ever--  two more gifts to sellers.  The rest of the data definitely looks a lot like Christmas activity: new listings were down 42.2% at 2,845, but still higher than any December in the past.  Pendings, down 40.2% from April 2019, followed that same holiday season break, still hovering slightly above or below Decembers of 2018 and 2019, and sets the stage for more weak sales coming in May.  Active listings of 2872, down 38.8% from last year, are nearly identical to those of  Christmas, 2019.  In a tell-tale graph of something gone wrong,  it shows the number of sold properties in April historically rose well above prior months of that year, but took a sharp dive from March, dropping 20% in one month, and 32% below last April, and looking a lot like Christmas sales of the past.  While one might guess that buyers are reluctant to buy with business closures, the data shows buyers snatching up properties at a record pacing, with little negotiating on list price, and would-be sellers (with inventory bottoming out) most affected by the virus, possibly having  visions of masked men and women arriving at their doorstep,  potentially dropping off a virus that might kill them.  The good news is that more Americans died from the common flu in 2018 when no masks were required by law, and sales were 43% higher in April of 2018.   Buyers and agents are being allowed to see properties so the only restriction involves those wheel spinning open houses that make listing agents look busy.
  
 
 
April 7th, 2020
STORM BEFORE THE CALM (?)
While March detached sales are doing that characteristic thing, carrying the median sales price to new record heights at $680,000, up 8% from last year, and average days on the market (tied with record lows of just 30 days) would make any listing agent look good, several lead  bits of data for future sales are not following that characteristic historical script: pending sales are down 1,692, 18% less than this time last year, and active listing fell to lowest level in modern times at 2,872, down a whopping 36% from last March.  Will April showers*
bring May flowers?
 
*(now a viral deluge as mainstream media might describe, but will U.S. deaths match the 80,000 flu deaths in 2018 that happened with only a few news bulletins posted about the flu killing up to 4000/wk and zero suggestions about closings of anything, including home listing showings, restaurants, businesses, schools, churches during Holy Week, and the Orwellian Los Angeles  rule for neighbors snitching on neighbors)
For a  list of properties that fit your criteria, and info on cash rebates to buyers that average $4000, contact Mesa Pacific today. For an example of how our "no cost listing" works, click here​.
(All data is unofficial and subject to change)
March 8th 2020
 LEAP YEAR IN RARIFIED AIR (?)
Rare is it to expect all-time records to fall in February but it just happened as median sales price of detached homes rose 8.5% from last Feb to $678,000.  While many will say it is due to lower mortgage rates, which, on average, were lower by  less than 1/4% from December, the real action from rate declines should start for future sales as market rates have tumbled by over 1/2% in the early days of March from February's average (see Mortgage Report) !! No doubt the market nemesis is at play here, as active detached listings  touched down at a new record low of just 2,679, a whopping 40.1% decline from February 2019.  This inventory squeeze helped sellers get what they bargained for as the percent of selling   price to list price reached 98.3%, topped only by the peak season in July of 2013, when it became abundantly clear the bottom of the marketplace from the recession had come and gone.  Even sellers over $1,000,000 had there way with prices, as they got 95.8% of asking price, just shy of the all-time  best of 96.5% in 3/2017. This million+ category shows closed sales were up by 23.2% to 281, best February number on record. But the real stand-out figure says the best is yet to come.  By using the divining rod of pending sales, it shows a huge gain at 49.8% to 442, which will no doubt have March sales  beating out February closed sales of 281, up 23.2% from 2/2019.  Condo/attached follows similar patterns as detached with the median sales price topping all months heretofore at $450,000, up 9.4% from last year.
For a  list of properties that fit your criteria, and info on cash rebates to buyers that average $4000, contact Mesa Pacific today. For an example of how our "no cost listing" works, click here​.
(All data is unofficial and subject to change)
February 9th 2020
COLD WINTER SALES MEET UP WITH STORMY DEMAND (?)
It may be cold outside for San Diegans and called the "off-season" for home-buying, but that didn't stop buyers from pressing on to outbid their competition amid strikingly low volume of homes
-- so low it broke the record* with only 2,730 detached listings (and 40%  lower than last January).  Those conditions made for a 9.3% increase in the median sales price compared with last January, and uncharacteristically this season tied  the all-time record high that hit at the top of normal sales season in June of 2019 at $670,000.  Even sellers of properties above $1,000,000 saw their prices rise by 4.4%.  Pending sales in this category are up 33% with all detached up by 8.4% so this trend line should not stall out in February.  While homeowners can smile at this chart, imagine any corporation dealing with sales activity dropping by 40% from a year ago. So picture  those grueling sales meetings,  tabulating the efforts of tens of thousands of registered agents in San Diego, all getting grilled on their lousy performance that's down by 40% from last year.  If they have this chart in hand,  they shouldn't take it to heart.  
For frustrated would be buyers, the sun (and new listings) will come out tomorrow--and the cost of borrowing improved.   Get a jump on these by receiving an automated notice of new listings that fit your  search criteria, and receive large cash rebates that average $4000 when represented by Mesa Paciic.  
*(December active listings revised to 2,805, as all sales data is unofficial when previewed early)
Sneak Preview of December Data
January 4th 2020
NEW RECORD OF ILL REPUTE (?)
While homeowners can continue grinning ear to ear going into the new year with detached resale homes rising 6.7% from last December at $665,000 (dead even with November and that of the high-flying summer season of 8/2018),  the nemesis for would-be buyers  hit a new record low:  just 2,611 active listings, a whopping 39.8% below December last.  With all property types included,   the same new record low happened for this grouping  (4501, down 33%) in a County population of 1.24 million households according to 2018 census.   With so few active listings also in November (see 12/7 report), is it any wonder that closed detached sales (1,515)  barely gained over last December, and will likely put sales in a deep freeze in January?  Top this off with relatively few days on the market (38 days average) compared with past winter months,  it all adds up to favorable conditions for sellers to enter the market now.  
 
For a  list of properties that fit your criteria, and info on cash rebates to buyers that average $4000, contact Mesa Pacific today. For an example of how our "no cost listing" works, click here​.
(All data is unofficial and subject to change)
San Diego Market- Sneak Preview of NovemberData
December 7th, 2019
ANOTHER GRINCH NO SHOW
Many may wonder when the trend will shift and the market Grinch steals value away from happy homeowners, but that's not in the cards this Holiday season, as median sales prices rose 4.9% from this time last year to $665,000, just shy of the $670,000 all-time record in June 2019 (October price revised to $660k).  That might seem like a decline, but it has much to do with seasonal buying/selling habits (see example on  10/6 report).  While radio ads say the market is slowing and sellers need their expertise more than ever, the stats say average days on the market is 36 days (30 days historically is considered fast), and is faster than November of 2018.  Even homes above $1 million are cruising at 49 days, 9 days faster than 11/18, and compares well with the all-time record of 41 days  in June, 2018.  Pending sales, usually a harbinger of things to come, are at a decent level at 1652, 14% higher than last year (22% higher on $1mill+), but may  not be enough to move next months sales up, as active listings are down 37% from last year, with new listings dropping by 28%.  This continues the theme that San Diegans
find there's no place like home.
San Diego Market- Sneak Preview of October Data
November 2nd, 2019
ANOTHER GOOD OMEN(?)
The unusually high pending sales last month (see report below) did turn out to be a good omen for prices, as the slight declines in median sales price for detached homes in August and September shot back up to $665,000.  This amounts to  a 3.3% increase over last year and not far from the all time record high in June of $670,000.  The chart shows various highs over the last 3 years starting at October 2016 where median prices were posted $106,000 lower.  What the charts show now for pendings is yet another sharp rise from last year by 23.4% to 2,029, turning the chart's downward direction of prior years on its head, so another good omen for homeowner values is likely ahead for next month.  The sad new record for buyers in search  is this October active listings are the lowest since the chart data was stored--from 2004.  With only 38 average days on the market, these are good clues for would-be sellers to take advantage of this unique situation--even in the so-called off-season.
 
For a  list of properties that fit your criteria, and info on cash rebates to buyers that average $4000, contact Mesa Pacific today. For an example of how our "no cost listing" works, click here​.
(All data is unofficial and subject to change)
 
October 6th, 2019
NUMBERS CAN BE ILLUSIVE( ?)
The first indication that detached median prices may be flat-lining showed up in April (see report below). Now both August and September show ever so slight declines with September -.6% from last year.  After vaulting to a new record high in June  on attached homes, prices stumbled badly in September, down 2.8% from September last, and this on 897 sales, increasing by 8% year-over-year, so go figure. Does that mean the price is falling from the June record of $440,000 or just a fall in the number of sales in higher priced categories?  Turns out that attached number of homes sold from $441k and up  dropped 20% from June's record in sales price, while the number of sales of lower priced homes stayed even, so it's just a numbers game when dealing with median figures.  As higher end sellers taper off going into the holiday season, charts always show prices sinking.  Still, overall trends aren't like they used to be rising 8-10% year-over-year, so the remaining flippers are turning into selling flipper concepts rather than the real estate itself (see next column).  Another figure not so illusive is the continual bogeyman for buyers: active listings on detached homes are down 24% from last September, making for slim pickings and fast paced sales that average just 35 days on the market (49 days on those above $1,000,000 where buyers always thin out at this altitude).  Buyers do get a reprieve on rising mortgage costs, which may be the reason why sold sales are up 11% from last year and October sales look bright with pending sales up 21%, 61% higher than rock bottom back in December 2018.  That kind of activity should push prices back on the upside for October. 
September 7th, 2019
San Diego Market- Sneak Preview of August Data
 A NEW RECORD HIGH ABUTS CHANGING TIDE FOR DETACHED SALES (?)
While detached median home prices inched upward in July to call it a positive move, unofficial reports say such is not the case for August sales at $660,000, down .8% from last year.  Looking for bright spots, sales above $1,000,000 posted gains of 1.3% over last year and attached homes in June reached a new record high of $440,000, up 3.50% from last year.  Active detached listings, down 20.5% from last year, continue to answer that question for San Diego homeowners: where do we go from here?   With just 2.5 months supply, buyers don't get a whole lot of choices when 6 months is considered a normal market.  But  they are still picking them off at a decent pace of just 36 days on the market.  Homes for sale above $1,000,000 do come close to normal with some 5.6 months of supply.  That may be why, at these loftier prices, seller get less (4.2%) than what they asked for than compared with the rest of the market at 2.6%.  Sold homes in August is nothing to write home about, down 7.7% from last year, but current pendings, slumping in June, are up 10% higher now, and 17.9% from 8-18, so seasonal late-comers should help make September sales shine.
July, 14th, 2019
San Diego Market- Sneak Preview June Data
NO JUNE GLOOM FOR SELLERS IN A SELLER'S MARKET
It's not often that one sees an all-time new high register, but it did (unofficially) here in June with median sales price on detached homes reaching terrain never witnessed before at $671,000, up 2.6% from last June, and  topping August  all-time record of 2018 at $665,000. Sales sped along at a brisk pace of just 31 days on the market, with sold prices averaging 98% of list price. The only thing that continues to dog the market are number of sales at 1935, down 13.9% from last year and lower than a month ago by 11%. Active listings are down 2.8% from a year ago. So with  supply of homes on the market remaining low at 2.8 months, it all adds up to the continuation of a lengthy seller's market.
San Diego Market- Sneak Preview May Data
June 7th, 2019
ONWARD AND STILL UPWARD
Median sales price for detached homes in San Diego edged higher than this time last year by 2.3% to $660,000, just shy of August 2018 record of $665,000.  It's a bit of a surprise to see the number of sold homes were down by 7.7% to 2037 from last May, considering the jump in pendings as of May 4th of some 2,333.  But that's nearly the same number of pendings now, so this should show up as sold in June data since impediments like rising rates that cause cancellations aren't happening and instead dropping (see mortgage report in  left column). Active listings are on par with last May but 1000 less than the high of 5633 in September 2018. Some offices talk of slow sales but that's likely due to overpricing the home.  Overall, average days on the market are still short-lived at only  33 days. As always, higher values beget longer days on the market since there are fewer buyers, but those in the $1,000,000+ category have just tied the all-time record low of 41 days, matching June of 2018 record on 414 sales. June seems just the right month for these pricey homes as the all-time number of sales was 437 in June of 2017.
 For a  list of properties that fit your criteria, and info on cash rebates to buyers that average $4000, contact Mesa Pacific today. For an example of how our "no cost listing" works, click here​.
(All data is unofficial and subject to change)
May 4th, 2019
NO MAY DAY CALL ON SALES AS PENDINGS TO THE RESCUE (?)
While median sale prices took a turn for the better from the one-month hiatus from a decades' long term upward trend (see April report below), posting a 2.3% gain from last April to $655,000 on detached homes,  total sales still lag from last year by 3.3%. But  pending sales data just now posted in MLS charts depicts a 45 degree angular rise from the start of the year and a spike of 11.3% year-over-year increase to 2,333.  That sets the stage for higher sales in May and leaves room for new sellers entering the market to ask for a little bit more (but not a lot lest the property sits with no buyer interest)--this in a market that's moving at a fair clip of 37 average days on the market (90 being the worst of times for sellers back January 2012 and June 2018 the fastest at 29 in recent years).  What's behind all this burst of new contracts?  Mortgage interest rates for one thing, along side of buyer job confidence (see left column on latest stats).  While the mortgage rate chart isn't a wild one like days of old (try 13-15% in 1982), rates in October-November were roughly 3/4% higher than today, slowly drifting down as Feds eased off their rate hikes. 
For a  list of properties that fit your criteria, and info on cash rebates to buyers that average $4000, contact Mesa Pacific today. For an example of how our "no cost listing" works, click here​.
San Diego Market- Sneak Preview of 
March Data
April 5th, 2019
No Flat Earth Yet on Prices ?
March median sales prices didn't quite clear what seemed like a permanent bar of rising values here in San Diego as preliminary results show a measly .8% loss over last year at this time at $630,000 vs $635,000.  One month's data does not make for a trend but it is the first negative monthly figure in over a decade.  One person's property appreciation (homeowner view) is another's inflation (buyer view), and much of the sharp fixed asset rises in value over the decades are attributed to the purchasing power of the Dollar.  Usinflationcalculator.com  tells us that 50 years from 1913, it took $3 that 1 buck would buy in 1913, or a 209% cumulative inflationary increase. However, from 1964 to 2004, when the U.S. Treasury was free to print Dollars at every needed turn and removed from a gold standard (JFK pushed for a silver-backed currency in '62 and some would say he got lead---Pb on the elemental chart- instead),  that one Dollar of purchase power now required $6, a 509% cumulative inflationary increase, and a whopping 622% from 1968 to 2018 for U.S. households to swallow.  A case in point would be average detached home  value guestimate of $75,000 in 1968.  The estimator shows that piece of real estate to be worth $541,000 today, not very far from today's prices, which are aided by limited supply and healthy demand.   So long-term fixed assets, whether real estate or precious metals, protect against inflation via Dollar devaluation over time.  Since a home purchase  replaces a good bit of rental costs that rise with inflation, it is the first line of defense against the ravages of a Dollar that can be printed out of thin air.  Pending home sales are currently hitting 2,196,  a far cry from December's 1,213,  so Spring has sprung and likely  will give a push on prices going forward. 
 
For a  list of properties that fit your criteria, and info on cash rebates to buyers that average $4000, contact Mesa Pacific today. For an example of how our "no cost listing" works, click here​.
March 5th 2019
THE SUN WILL COME OUT TOMORROW...REDUXED?
Those anxious for the sun to come out and sales to take off in the late  winter months of the New Year  will have Spring to look forward to because it just isn't  happening yet as sold detached homes in February were still down from last year at this time by 12% and 16.7% lower than Feb of 2017.  Granted the 1265 Feb sales did better than the lowest of low sales in January revised at 1195 (see report below), and pending sales are up 7.5%, giving  decent momentum ahead.  Buyers will have more choices here in March compared with last year as active listings are up 14.50%,  and the seemingly  relentless increases in prices should be motivation to act this Spring, as medium detached prices rose 3.2% from last February (that's 20 grand on a $600,000 home).   Seller had to give more than they wanted to in price negotiations in the dead of Winter, but the chart shows marked improvement for them in the percentage of sales price to list price  going into the Spring. 
 
For a  list of properties that fit your criteria, and info on cash rebates to buyers that average $4000, contact Mesa Pacific today. For an example of how our "no cost listing" works, click here
(This is unofficial preliminary data and subject to upward revisions, though the trend lines should not change)
February 2nd, 2019
THE SUN WILL COME OUT TOMORROW...
Little Orphan Annie's  song lyrics tell us not to dwell on the past but focus on the future, and that is important to remember when reviewing the latest sales data for San Diego.  While not all sales get reported by the 2nd of the month,  there's probably enough to speculate that  January was one of the lowest number of detached home sales on the chart at 1,138, 15% lower than this time last year,  and the only month that was lower happened in January following the 2007 mortgage meltdown.  January apparently is the pause that re-freshens as the historical charts show sales can only climb from here.  And why not in  2019?  The two prime movers in home purchases have improved with mortgage rates  down 1/2% since November, and job and wage growth continue to  rise (see left column). Inventory has nearly doubled since last year's record low  number of active sales (though current 2.4 months' supply is not very much), so more choices here for buyers going into Springtime should help boost sales.  Average days on the market always gets longer in the Winter, even in the temperate zones of  San Diego,  where they currently run 47 days,  far slower than summer sales that hit near record speed  of 29 days in June 2018. The good news for homeowners is that the sun hasn't set on price increases for over a decade now, and that's still the case today. Though the rise has moderated, median detached home prices are still up 3.2% from last January, nearly doubling the median price in a decade, and higher than any January posted on the chart that begins in 2004.  As always, bad winds can alter the course, and that could come from global currency crosswinds  of shifting currency preferences over the petro-dollar.  That can  devalue the Dollar and make purchases of anything more expensive.  The best move to make is to acquire hard assets like real estate to freeze much of your housing expense, and not be exposed to inflationary forces that devalue the money in your bank accounts and increase rental costs. 
For a  list of properties that fit your criteria, and info on cash rebates to buyers that average $4000, contact Mesa Pacific today.  For an example of how our "no cost listing" works, click here
(This is unofficial preliminary data and subject to upward revisions, though the trend lines should not change)
December 7th, 2018 Update
Late recordings of sales now shows better results of 1,506 sold detached homes, which is down 16.4% from November of 2017, and 23% lower than 2016. 
December 1st, 2018
HOLIDAY JINGLE BELLS ON MUTE?
Anyone in marketing/sales knows that corporate meeting with the bosses can be strenuous, causing slumping in chairs, particularly when they whip out the sales chart showing a plunge in sales 24% lower than last year, and 30% lower than November of 2016. True, real estate sales fall off during this season,  with Christmas listings last year the lowest on record  in San Diego,    so sales staff traditionally reason  that sales too would be low, but  when active listing supply is up 31.7 % (5,028) from last November,  making inventory  more healthy at 3 months (time it takes to sell all),  it's back to the drawing boards for answers.  The average days on the market has not risen  all that much at 39 days (up 5.4% from last November, with January 2012 scoring slowest ever at 90 days), so buyers are still out there in earnest. Prices paid vs list price at 96.2% is more the norm than the Spring bidding near 100%. What is slowing fading are the regular percentage  increases in sales price,  now down to just 2.4% increase over last November prices.   If the trend of rising inventory, lower sales, and flat-lining price increases continue, this would mark the start of a buyer's market-- but only if the current healthy pace of sales slows in the months to come.  
For a  list of properties that fit your criteria, and info on cash rebates to buyers that average $4000, contact Mesa Pacific today.
(This is unofficial preliminary data and subject to upward revisions, though the trend lines should not change)
 
November 5th 2018
SALES SLIDE UPENDED ?
While total detached sales in October were down 17.5% from last year at this time, at least the market was able to pull out of that nosedive last month (see 10-04 report below),  level out and increase slightly by 33 more sales to 1,632.  With 28.9% more active listings than last year (5,354 total), you would think the S.D. market could squeeze out more sales than that, if inventory were the problem, but the slow sales didn't prevent median sale prices from rising yet again by some 6.3% over last year to  $645,000, not far from the record high of $665,000 achieved in August.  Buyers got more out of negotiating below list price, reducing final price off of list price by 3% compared with earlier months of  paying very close to list price.   Pending sales should  help keep the sales chart leveled out for November, running at 1,768, but signs are that  buyers are running out of steam, leaving sellers waiting a little longer for the right buyer to come along as average days on the market rise to 39 from a blistering pace in June at 29 days.  How long  the market can continue to see rising sales prices considering a 1% increase in mortgage  interest rates from last year is anybody's guess, but latest data on the increase in  wage growth might suggest buyers can absorb  the costs of rising rates.
For a  list of properties that fit your criteria, contact Mesa Pacific today.
(This is unofficial preliminary data and subject to revisions, though the trend should not change)
October 4th 2018
DOWN BUT NOT OUT ?
It's not often to see any data change by 25% in just one month, but that's what the chart says on sold detached  homes here in San Diego in September.  From 2039 sold in August  to just 1536 here in September is not your customary seasonal slide; rather, its a nosedive. 2016 shows a month-to-month 9% slide.  In 2017, the slide amounted to 15% from month to month  but sales were higher by 21.5% than now.  The chart shows pending sales  possibly could turn  the tide for October sales, that is, if most all 1718 close.  Where there once were wide smiles  in County Assessor's office  on total sales volume in June of 2.503 billion trading hands, that figure dropped by 31% to 1.731 billion.  But the one upside to all of this is the median sales price rose 6.6% from last September to $650,000, a bit shy of the all-time high reached here in August. Sellers did rise to the occasion on very tight  inventory by pushing the figure up to 5219 active listings, a 21.3% increase from last September, and increasing supply up to 2.9 months, 32% higher than last year, giving buyers more choices than prior years.  While the numbers hardly lean in favor of buyers, they did more bargaining on list price, where sales price to list price edge down slightly to 97.6%.  With days on the market still relatively very good at 35 indicating decent buyer demand, the question to be resolved in future data is why so weak in the latest sold sales category when one would associate prior low inventory with weak sales.  Pretty good chance  high prices coupled with higher mortgage rates have retarded the buying fever of recent past.
For a  list of properties that fit your criteria, contact Mesa Pacific today.
(These are unofficial preliminary data and subject to revisions, though the trend should not change)
September 3rd, 2018
WORM TURNED (?)  ДA And NYET
Has the market peaked here in San Diego? Да and nyet. As far as seasons go, the August chart says yes, sales have already peaked several months ago, with August closed sales on detached homes down 16% from  the peak in June and 19% from last year at this time.  Sellers got a little less of their asking price in August, 97% vs 98% through earlier months in 2018.  But that slight haircut  didn't hurt the big picture as the median sales price of detached homes hit a new all-time record of $670,000, up 9.8%.  More sellers jumped into the market, with August new detached listings of 3290, up 12.6% from a year ago, raising months of inventory to 2.8, up 27% from last August, and way up from the worst on record in December 2017 of 1.60 months (6 months considered normal balance).  With total active listings up 68% from December's bottom, buyers finally have a decent list of properties to review.  For that list that fits your criteria, contact Mesa Pacific today.
(These are unofficial preliminary data and subject to revisions, though the trend should not change)
San Diego Market- Sneak Preview of July Data
August 4th, 2018
BAD BLOOD MOON RISING (?)
Astrologists claimed in June that the unique planetary alignments in July culminating on 7-27-18 with a blood moon would not be good but cleared in  August. Hopefully, that means  the unprecedented fires in California  that burned out thousands of homes will be tamed. 
No doubt some sales scheduled for closing in July didn't make it due to the fires, but San Diego County (outside of Alpine) was largely unaffected, closing 1991 detached homes, just 6.4% lower than last year.  However, combining peak season sales of June and July,  the chart shows the number of sales is nothing to brag about, down 10% from last year for the same 2 month period.  Is tight inventory the hang up here?  Yes and no says the chart, as active listings are up 6.4% from last year but still down 16% from July of 2016 and lower by 20% from July of 2015.  Considering July 2016 produced 10% more sales, and lower by 20% from July of 2015, inventory is still the hang up.  No bad moon rising for homeowners  as median prices paid continue on that ever rising slope since 2009 with a 6.8% annual increase to a new record high of $657,000.  There are 1126 detached homes listed for under $589,000 so potential buyers still have opportunities.  Call or write today for properties that fit your budget. 
 
HOTTER THAN THE 4TH OF JULY?
July 2nd, 2018
San Diego housing market got a kick in the shins in June, with detached SFR sales dropping by 22.8% from last year to 1,969, and believe it or not, a 9.5% drop from a month ago.  June is typically the height of the sales cycle as buyers get that Spring adrenal rush to buy and parents start to settle into new school districts for the Fall semester. But the charts say that ain't happening this time around, especially when looking for support going into July from pending sales.  These, too, are down 9.5% from May and  lower by 3.3%  from last year, so July numbers are not looking hot as a typical 4th of July.  What is hot is speed of sales at 29 days average, 9.4% faster than last year, nearing all time speed records--and that speed gave sellers a lift in their loafers, pushing the median sales price up to a new record high of $657,000, a  6.8% annual increase.  The rocket's red glare of dollar volume lit up at the City and County's assessors' offices, where total volume on all real estate sales spiked to a new record at $3 billion 78 million. With active listings now even with last year at this time after hitting rock bottom in December, 2017, a 50% climb since then,  the charts say would-be sellers should jump into this market as anxious buyers await. 
(please click on underlined text for charts)
May 5th, 2018

UNCHARTED WATERS (?)

Predicting the future has its hazards, but our prediction of higher sales in April due to spurt in pending sales held up, rising 8.5% higher than March closed sales. *  That may seem like a given, but when the start of the year was a scratch with the lowest new listings in modern times of 1330, San Diego resale markets dipped into uncharted waters.  April closed sales are still down from last year at this time by 8%, mostly due to the continued squeeze on inventory.  However, what is breathing new life into the market are  new April listings that are more than double from the record low 4 months ago and now up to 3096, 2.1% higher than last April.   Though still only at an anemic 2 months’ supply, buyers get a better shot at finding a suitable property, but not without additional costs.  The median sales price on detached homes is continuing that climb, up 8.3% from last April to $640,000, a new record high.  And with that record high coupled with decent sales numbers, dollar volume has to be putting smiles on tax assessors and other government officials, tapping into uncharted record volume for all residential real estate transactions totally $2.84 billion. Listing agents of all stripes brag about their exclusive system that gets the seller’s home sold quickly and at the listing price.  One  would not hear these claims back in December 2011 when the  days on the marketstretched to 85 versus the near record low today of 25, and when the average sales price was 7.3% below list price compared with 1.9% today (or .1% based on median calcs).  All stats are unofficial, and are announced later in the month by NAR. 

If you would like a free list of properties that fit your criteria, or a closer look at your home value, please contact us today.

*(Mesa Pacific had a hand in the stats by closing the highest home sale in San Marcos at $2,150,000). 

April 5th, 2018
Remote Viewing For April Sales Data
When viewing these charts along with recent past ones, remote viewing into the future is not required—at least for the next 30 days.  With the inclusion of pending home sales data of a few days ago totaling 2,220, up 30% from a month ago, it is safe to conjure up visions of April closed sales rising above March’s 1738, which rose 24% beyond February’s doldrums numbers.  Granted, active and closed sales still show anemic growth, each down double digits from March of 2017, as tight supply of just 1.9 months ( 6 mos. being the old norm and worst was 12.5 back in 01/08) leaves buyers with few choices, and drives both the pace of sales to only 32 days, faster by 15.8% than last March, and sellers getting98% of their asking price.   Those that have bought are happy campers to see themedian sales price for detached homes continue to rise here in March by 10.4% from 3-17 to $635,000. 
If you would like a free list of properties that fit your criteria, or a closer look at your home value, please contact us today.
March 3rd, 2018

VANISHING SPECIES ?

The official tally for pending sales in January was released a few days ago with this story heading: Pending home sales tumble to a 3-year low as a lead for what is in store for February sales, but we’ll flash forward and take a look a month ahead of time to see what March sales may look like here in San Diego.  While detached pending sales registered by 2-28-18 were lower by 6.9% from a year earlier, the chart shows they follow that characteristic climb from December’s basement, increasing by some 33%; so it should be safe to say that March sales won’t continue to crater like they did in February, which were down 12.4% from last February, and surprising lower than the start of 2018  by a few sales, which the chart illustrates.  As has been the case for some time, one cannot expect large sales numbers with so few listings, which are still riding at record low levels.  Another record-setting event is for average days on the market of 35, which is the lowest for any February charted, and lowest for most all prime-time Summer sales.  That says a lot for buyers in the hunt, and for prices paid which continue to rise with a medium sales price of $612,000, up 9.3% from last February.  So when the sales negotiation dust settled in February, buyers paid, on average, 98.1% of the asking price to win the bid, and the chartsays this beats nearly all months recorded.   No doubt buyers, especially from the chilly East, have already recognized that San Diego gets premium prices, so this chart of a vanishing species of detached homes won’t be any surprise.  Detached homes in the price range of $350,000 to $450,000 are down by 47.5% from last year, and likely to continue given the continual upward movement of home prices.  However, there were 169 sold last month in this price range, and 207 still available.   If you would like a free list of properties that fit your criteria, or a closer look at your home value, please contact us today.

February 2nd, 2018
GROUNDHOG DAY PREDICTIONS WITH LATEST JANUARY DATA
While back East, the groundhog saw his shadow today, predicting 6 more weeks of Winter, San Diegans patiently await Winter and the rains it brings.  Alas our Indian Summer weather cannot be blamed on the new record low in detached home listings (going back to 2004 where the chart ends).  Not only were the 2974 active listings 23.7% below last year at this time, the count was 20% lower than the low of March 2004. Fewer listings mean fewer sales which were down 10.5% from last year. But with the pace of sales still moving briskly at 41 days average on the market,  the squeeze on supply from this ongoing demand pushed January prices 7% higher than January of 2016.  At least pending sales are up 4.2%, which would help turn the tide upward in February.
For a close-up look at your property value, contact us today for a free valuation report.
January 2nd, 2018
FIRST PEEK AT DECEMBER SALES DATA: HOW HIGH, HOW LOW THIS JANUARY?
While some  hung-over listing agents may be late reporting last minute December closings here in San Diego,  data this early out* still tell the tale of a market continuing to run out of home listings--and the chart shows this is at record low levels.   The combination of fast sales (38 days on the market) nearly 16% faster than last December, and record low new listingsper chart, put pressure on prices to the upside, up 8.8% from last December to median price of $615,000.  The charts also show that historically, there will be even greater constraints on supply this month , so could active listings force a reformatting of the bottom of the charts?  The lack of inventory is by no means a sign of weakness, as the dollar volume in sales leaped back up to $2.3 billion, a 63% increase from last December, putting smiles on SD tax assessors' bookkeepers.  Since we're in no man's land as far as the data shows going back to 2004 on all key indictors supporting sellers,  home-owners looking to sell early this year will find a welcome mat awaiting.
*(the data is preliminary and unofficial. Official findings will be announced later in the month).  
December 6th, 2017
CHRISTMAS COMES EARLY IN NOVEMBER (?)
Preliminary  data* on November sales shows homeowners receiving the gift that seems to keep on giving: double-digit increases in home values this November on detached resale homes compared with last November.  While it is great to receive,  the giveth on the part of would-be buyers is where frustrations must be felt.  Lofty plans to own a home by Christmas has been snatched up by the Grinch,  represented by the  lucky buyers with the winning bid on a skimpy list of active sales. The record speed of sales is keeping pace with October (see report below), but you have to wonder why listing agents think that a quick sale within a few days of listing  is in the best interest of the seller, without the benefit of being exposed to the maximum amount of buyers.  Unlike the forced sales of years gone by, thebank owned sold chart tells the tale that Ebenezer look-alikes are few and no longer knocking on doors with trustee sale notices.
Mesa Pacific can help stimulate sales by our discounts in mortgage prices (at least $3000 in provable savings), cash rebates to buyers, and low to no cost listing programs.  Contact us today for details.
*(figures are unofficial and subject to change)

 

 

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Recommendations
I am writing this letter in support of the succcessful effort put forth on our behalf by Mesa Pacific and specifically for the work done by William Ray.  We listed the property  with a nationally recognized real estate agency.  The property did not sell.  Frustrated and disappointed after our six month contract expired, we contacted Mesa Pacific. He came in with a positive attitude and many great new ideas to prepare the property for sale.  We also were excited about the opportunity to save substantial money on the commission rate they asked for.  Our property was sold in 30 days after signing with Mesa Pacific and for the amount we had originally targeted.
 
__________________________
I would like to recommend the services of Bill Ray at Mesa Pacific, who assisted me in selling my home on Brian Way in El Cajon, and purchasing a replacement property.  Bill Ray made me an offer I could hardly refuse using his no cost listing program, which saved me some $13,000 in listing fees other brokerage firms would have charged. 

Read Full Letter

 Bill Ray was absolutely invaluable when it came time to sell my mother's rental property.  My mother had passed away and I live a considerable distance from the area.  Bill is very knowledgeable about the local real estate market and was able to provide me with the information I needed to make necessary decisions.  I listed the property with Bill and have been really happy with that choice.  The property was in really bad shape and needed a lot of work. Bill went way above and beyond what he needed to do in order to help prepare the property for sale.  He researched contractors, obtained estimates, and oversaw the repairs

Read full letter

"We purchased our home in beautiful Eucalyptus Hills and would like to recommend Bill Ray of Mesa Pacific Mortgage to anyone seeking the best mortgage pricing and professional services.   We received a VA loan quote from our credit union and Bill´s pricing beat the credit union by $6000.  In fact, the lender credits through his wholesale mortgage company paid all of our closing costs and tax & insurance impounds, so we ended up paying nothing out of pocket, and received our deposit back at close-- and all on a 30yr. fixed-rate loan."

 

We compared mortgage prices and Mesa Pacific beat others by far in rate and cost.  Bill Ray helped us locate and negotiate the purchase of the home at a price under the appraised value, and provided a cash rebate at close in the amount of $4,100. 

 

 

 

 

Read Full Letters

REAL ESTATE INDUSTRY ADVISORIES 
May 24th, 2020
BRAVE NEW WORLD 2020 SCI-FI(?)
What once was required reading in high school, these two books are gathering several decades of dust on them.  Summary from Sparknotes:  "Like George Orwell’s 1984, this novel (Brave New World) depicts a dystopia in which an all-powerful state controls the behaviors and actions of its people in order to preserve its own stability and power. But a major difference between the two is that, whereas in 1984 control is maintained by constant government surveillance, secret police, and torture, power in Brave New World is maintained through technological interventions that start before birth and last until death, and that actually change what people want. The government of 1984 maintains power through force and intimidation. The government of Brave New World retains control by making its citizens so happy and superficially fulfilled that they don’t care about their personal freedom. In Brave New World the consequences of state control are a loss of dignity, morals, values, and emotions—in short, a loss of humanity."
 
 
November 8th, 2019
HIGH HOUSING COST ELEPHANT IN THE ROOM ?
Bloomberg just published an extensive article with charts on the reasons for the high cost of housing in California called
How California Became America’s Housing Market Nightmare, but missed the elephant in the room when they charted rising costs over the years.  The chart appears under the section titled Housing Costs by State, trying to illustrate that California was higher than other states throughout time.  But what is very obvious is that the costs in all states, including California, were small stair steps of increases up until 1970.  But we all know  what followed in 1971:  Nixon removed the Dollar from the gold standard  and the stepped increases grew very large thereafter. Wage earners could not keep pace with this new embedded inflation where the Federal Reserve could now print money without the gold to back it up in order to finance government operations (like the Vietnam War)--thus the hefty gap between wages and housing costs that we have today.  To top it off, the writers suggest that Prop 13, an attempt to cap rising rates on property taxes back in 1978,  has had the effect of increasing housing costs.  So instead of suggesting to extend Prop 13 caps on today's homeowners' annual increases, they suggest eliminating the cap altogether. And the final suggestion is to allow the State to dictate zoning changes, so you could very well be staring at high rise  buildings shooting up  in your SFR subdivision with all the pros and cons of Section 8 Housing to follow.    You just can't make this stuff up.
October 6th 2019
FLIPPING 101
Students sold on the art of flipping properties with no money down likely found themselves a few hundred dollars poorer following these too-good-to-be-true sales seminars, but there is hope yet.  Now the pitch has switched to buying unit properties under market value with no cash involved, and it is easier than flipping single family units-so come on back for more training!  Another magical claim running is a real estate company that has an exclusive database of over 5,000 buyers ready to buy your listing.  Obviously that means this mountain of buyers are being held back from buying other listed properties outside of this company's listings.  Does an MLS listing reach thousands of potential buyers? Yes, indeed, but there's nothing exclusive about that. 
GLAD TO BE HERE IN S.D. (?)
Investor's Insider just now published a list of the 50 most miserable cities in the nation, and the winner is described by a drug enforcement agent who grew up in the area.  He told The Guardian in 2017: "We used to be the murder capital of the US, but there is hardly anybody left to kill. We used to be the drug capital of the US, but for that you need money, and there aren't jobs or things to steal here."   One common theme is these cities once had great promise, only to collapse from a shrinking job base, having relied mostly on a single type of industry.  One of San Diego County's claim to fame is on its diversity in the job sector: computer technology, bio-tech and medical research, military and defense contractor base, tourism, manufacturing,  and the many sub-services that provide for  these main sectors. As the job market goes, so goes real estate.
June 4th, 2019
SIMPLY REVOLUTIONARY: PATENT BEYOND PENDING 
Try to imagine an invention that would totally change the landscape of real estate and literally every industry on Planet Earth, and the people that inhabit it.  This U.S. Navy patent would do just that. Technically, it is U.S. patent #10,144,532 B2 and dated December 4th, 2018, and titled  CRAFT USING AN INERTIAL MASS REDUCTION DEVICE.  Simply put, an anti-gravity craft, which alters the gravity waves around the craft, allowing for incredible speed which can take travelers from New York to Europe in 8 minutes, and you don't have to sit down since G-forces are eliminated. It allegedly also works underwater at great speeds and in space.  While many report sightings of these triangular shaped vehicles flying about,  the caveat is that a patent does not mean the invention is operational, so dream on George Jetson commuters. Zoom around internet search engines for more articles and click here for patent.
June 25th, 2017
Building No Match For Superman?
While Superman was known to leap tall buildings in a single bound, he might get his cape caught on this skyscraper just now built in LA,  known to be the tallest building west of the Mississippi.
Tiny Housing In New York
So rents here in San Diego from $2400 to $3000/mo.  getting you down?  Check out this 302 sq.ft. model  in this price range, only to be outdone by capsule hotel room in Japan.
April 7th 2016
Reverse Gears (?)
The expense of raising Donnie and Marie make you proud but penniless empty nesters now.  What should have been a savings nest egg of golden nuggets going into retirement was whittled away by the high cost of college and other modern day necessities.  With a mortgage payment eating away at half your retirement income, what's an otherwise successful couple to do?  Enter the reverse mortgage.  With all that hard work now  history,  take your home and turn it into a productive use for the rest of your lives.  A reverse mortgage will completely eliminate that mortgage payment and avoid the potential of losing that nest called home sweet home.  Contact us today for a free custom printout emailed to your door.  We only need your names, birthdates, and property address.
March 31st, 2016
New Mortgage Products To The Rescue
For self-employed would-be buyers and homeowners seeking better mortgage terms who are tax return challenged, new fixed rate products are now available, and only require either bank statements or a simple unaudited profit & loss statement. These loans are not saleable to Fannie Mae or Freddie Mac so there are other credit restrictions and loan declines a borrower may tyically run into that may not be the case with these programs, so call 619-390-4042 or write for details and loan summaries.
December 7th, 2015
Traffic Report
While San Diego commuters at rush time might disagree, a new report shows San Diego was ranked #1 in the nation under the category of Least Wasted Fuel per Auto Commuter.  Our neighbor to the north got #1 Worst Traffic Congestion and a good part of the reason is that planners there canceled much of new freeway systems in hopes more would head to public transit.
November 25th, 2015
The Rain Falls Mainly On the Plain
But back in 1916 and today in San Diego, our topography says there are no plains to drain the rains. One hundred year flood  maps are designed to be warnings to obtain flood insurance.  Most all lenders now require flood insurance if the borrower's property is in a flood plain. But back in 1916, when the City hired a rain-maker to combat the drought plaguing our region, no insurance was required, and  the scientist that was offered $10k to bring the rain-- which turn to floods-- was not paid at all. Click here for the full story
 
 

 

Recommendations
I am writing this letter in support of the succcessful effort put forth on our behalf by Mesa Pacific and specifically for the work done by William Ray.  We listed the property  with a nationally recognized real estate agency.  The property did not sell.  Frustrated and disappointed after our six month contract expired, we contacted Mesa Pacific. He came in with a positive attitude and many great new ideas to prepare the property for sale.  We also were excited about the opportunity to save substantial money on the commission rate they asked for.  Our property was sold in 30 days after signing with Mesa Pacific and for the amount we had originally targeted.
 
__________________________
I would like to recommend the services of Bill Ray at Mesa Pacific, who assisted me in selling my home on Brian Way in El Cajon, and purchasing a replacement property.  Bill Ray made me an offer I could hardly refuse using his no cost listing program, which saved me some $13,000 in listing fees other brokerage firms would have charged. 
 Bill Ray was absolutely invaluable when it came time to sell my mother's rental property.  My mother had passed away and I live a considerable distance from the area.  Bill is very knowledgeable about the local real estate market and was able to provide me with the information I needed to make necessary decisions.  I listed the property with Bill and have been really happy with that choice.  The property was in really bad shape and needed a lot of work. Bill went way above and beyond what he needed to do in order to help prepare the property for sale.  He researched contractors, obtained estimates, and oversaw the repairs

"We purchased our home in beautiful Eucalyptus Hills and would like to recommend Bill Ray of Mesa Pacific Mortgage to anyone seeking the best mortgage pricing and professional services.   We received a VA loan quote from our credit union and Bill´s pricing beat the credit union by $6000.  In fact, the lender credits through his wholesale mortgage company paid all of our closing costs and tax & insurance impounds, so we ended up paying nothing out of pocket, and received our deposit back at close-- and all on a 30yr. fixed-rate loan."

 

We compared mortgage prices and Mesa Pacific beat others by far in rate and cost.  Bill Ray helped us locate and negotiate the purchase of the home at a price under the appraised value, and provided a cash rebate at close in the amount of $4,100. 

 

 

 

 

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