HotelDel DownTown Sunset

 

 

Greetings from Jennifer Ross -  Realtor

 

AlexandraMy daughter told me of her plans to spend her Spring break staying on the east coast with a friend.  I'll admit,  I was a little worried (okay a lot worried). But I told myself she's a big girl, smart and responsible.  So between Friday and Sunday I felt texting was the least intrusive way to communicate. I kept it under 50 texts to make sure they arrived in Connecticut in one piece after catching a ride with fellow dorm mates.
 
I came home Sunday evening after my open house.  My son said "Mom check out the deck, there's something you should see"!  I started up the stairs and out popped my daughter Alex - what a great surprise! She said on her flight home the plane broke through the New York cloud cover and the sun beamed through the windows.  She and a fellow student behind her were so thrilled to see sunshine, they jumped out of their seats and started high fiving each other!

 Signature

 

News and Views   

 

The tax filing deadline is a month away and, according to a new survey from TurboTax, folks in San Diego are among the country's biggest procrastinators. We rank number eight on the list of the top 20 cities for putting off preparing taxes until the last minute. The TurboTax report says, "When you're wearing sunglasses 24/7, it's hard to even see your taxes, let alone file them. San Diegans filed just a bit faster due to peer pressure this year with TurboTax headquarters right down the street." Drive along the 56 and you'll see the tax campus just past the Camino Del Sur off-ramp. FYI, Houston, Chicago, New York, Austin and San Antonio have the most procrastinators.
*****

February home sales in San Diego County increased by 3 percent from January, according to the San Diego Association of Realtors (SDAR). "February's sales statistics give us some positive indicators," said Bob Kevane, SDAR president. "The uptick in sales is always a positive sign. We are heading into the peak buying season and we'll see more competition in the marketplace which should boost median sales prices some. With the threat of the phasing out of Fannie Mae and Freddie Mac looming, potential buyers would be wise to take advantage of

Tooth Fairyexisting rates before borrowing costs potentially increase."

*****
Looking for a good economic indicator and gauge of inflation? Well, the 2011 Tooth Fairy Poll has been released and shows the average cost for a lost baby tooth is now $2.52, an increase of 18 percent over last year. Ann Johnson of Delta Dental says, "The Tooth Fairy may be another indicator that the economy is on pace for a steady recovery."

 

 

Rents Could Rise 10% 

 

Renters beware: Double-digit rent hikes may be coming soon.

  

Already, rental vacancy rates have dipped below the 10% mark, where they had been lodged for most of the past three years. "The demand for rental housing has already started to increase," said Peggy Alford, president of Rent.com. "Young people are starting to get rid of their roommates and move out of their parent's basements."  By 2012, she predicts the vacancy rate will hover at a mere 5%. And with fewer units on the market, prices will explode.

  

Rent hikes have averaged less than 1% a year over the past decade, according to Commerce Department statistics, adjusted for inflation. Now, Alford expects rents to spike 7% or so in each of the next two years -- to a national average that will top $800 per month.

  

In the hottest rental markets, the increases will likely top the 10% mark annually for the next couple of years. In San Diego, Alford anticipates rents will rise more than 31% by 2015. In Seattle rents will climb 29% over that period; and in Boston, they may jump between 25% and 30%.  This is a sharp change from the recession, when many Americans couldn't afford to live on their own. More than 1.2 million young adults moved back in with their parents from 2005 to 2010, said Lesley Deutch of John Burns Real Estate Consulting. Many others doubled up together.  As a result, landlords had to reduce prices and offer big incentives to snag renters. Now that the recession is easing, many of these young people are ready to find new digs. 

 

Apartment developers many not be able to keep up with this heightened demand, which will force prices upwards, according to Chris Macke, a real estate analyst with CoStar, which tracks multi-family housing trends.  "There will be an envelope of two or three years," said Macke, "when the rise in demand for rentals will exceed the industry's ability to meet it.".

 

Courtesy of CNN

 

 

Video of the Week

 

Old Rock StarsOld Rock Stars

Comedian Tim Hawkins sings songs that famous Rock Stars will be singing in their old age.

 

 

Famous Quotes
 

Plenty of people miss their share of happiness, not because they never found it, but because they didn't stop to enjoy it.
William Feather 1889-1981, Writer

 

As always, feel free to give me a call 800-913-7677 with your real estate needs.  I appreciate your referrals.
 
Signature

 

 

Acedemic Earth 

 

Jennifer Ross

 

Experience Counts!
Over 21 years in
Real Estate sales
Serving all of San Diego

 

Office: 800.913.7677
Direct: 619.985.7340
JennRossRealtor@gmail.com

 

 

 

 

Current Mortage Rates

 (BankRate.com weekly avg)

 30 yr fixed: 5.04%

15 yr fixed: 4.32%

 

 

 

Join My Mailing List

Subscribe Button