HotelDel DownTown Sunset

 

 

Greetings from Jennifer Ross -  Realtor

 

Water SkiingGrowing up in a family with four brothers, life was active to say the least!.  We had motorcycles (I had a red Honda 90), we snow skied, sailed, jet skied, windsurfed, played baseball, basketball and tennis! Our favorite summer sport was water skiing. We called our family boat "Black Ugly" and spent many wonderful summer months water skiing at the Colorado River and Sacramento River Delta.

 

My brothers are all still "toy boys" and two of them recently invited me on a boating trip.  I hadn't skied in a few years and was contemplating whether I should try.   My older brother adamantly said "don't even try Jennifer! You won't get up and you're going to hurt yourself" .  My younger brother said "I'll grease your boot up and you'll pop right up, you can do it"!  Of course, the challenge was on!  The second try I did pop right out of the water on one ski ... it was so much FUN!  I got the biggest kick out of my brothers laughing and clapping as I waved to them from behind the boat!!

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News and Views  

  

An increase in home purchases here in the West led to a nice bump in the National Association of Realtors pending home sales index. Pending sales in June rose 2.4 percent -- 6.4 percent in the West -- reflecting the number of contracts in the escrow process. "The best way to ensure a more solid recovery in housing is to simply return to normal, sound credit standards so more creditworthy homebuyers can get a mortgage. Washington also should not rock the boat with policy changes that would negatively impact affordable credit or otherwise increase the cost of buying or owning a home," said NAR economist Lawrence Yun.
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Despite the common belief most people have thrown in the towel and are now leading a life of financial despair, a new report from Citibank says just the opposite. According to the Citi California Pulse Survey, 74 percent of the people here say the recent recession has not hampered their ability to achieve their life goals. And, 81 percent of Californians consider themselves somewhat or very successful. "Though the current recovery appears slow, Californians continue to look to the future with pluck and optimism, which is a great sign for the state," said Rebecca Macieira-Kaufmann. Pluck is a good word.
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Another survey out this week finds for the first time in three years a majority of Americans plan to take a vacation. According to Mondial Assistance, a travel insurance company, 51 percent of people surveyed are confident they will take a vacation in 2011, up 13 percent from last year. "Even as uncertainties remain, a majority of Americans feel like they can take a vacation this year and some of the pent up demand for travel is now working its way through the system," said Peter Wiesinger of Mondial.

 

 

Gen Y Will Drive Real Estate Recovery  

  

Experts with the University of Southern California Lusk Center for Real Estate say population growth and demographic shifts - particularly the ongoing maturation of a diverse, well-educated Gen Y - will drive improvements in the real estate market over the next 10 years.

 

"Give me people and we will have growth," said Stan Ross, Lusk Center Chairman of the Board. "The U.S. creates the best innovators, creators and entrepreneurs in the world. Furthermore, immigrants were responsible for 25 percent of America's high-tech startup companies between 1995 and 2005 and 25 percent of American's international patents."

 

Despite a slight dip in immigration during the recession of 2007-09, the 2010 Census showed the U.S. population grew 9.7 percent to 308,745,538 with another 3.4 percent growth predicted for 2011. Ross points out that with its 77.4 million members, Gen Y (current 15-32 year olds) is roughly equal in size to the Baby Boomers (current 46-64 year olds), but more educated and diverse.

 

Ross told a recent gathering of real estate leaders in Orange County that related demographic shifts will support economic growth and market improvements in the region and nationally:

  • Together, Baby Boomers and Gen Y comprise 50 percent of the population and will soon be part of the largest U.S. wealth transfer ever
  • 60 percent of Gen Y goes to college
  • More than 38 million U.S. residents (12 percent of the population) are foreign born
  • 33 percent of all PhDs and 57 percent of all post-doctorates in science and engineering were awarded by U.S. universities to foreign students

About 4.3 million Gen Y residents reached age 22 in 2010. As more of this group enters the workforce over the next 10 years, they will produce a massive increase in housing demand. However, Ross points out that Gen Y will be relatively prudent when it comes to real estate investment.

 

"These kids are concerned," Ross said. "They have watched the stock market, financial markets and economy wipe out their parents' retirement plans. As a result, they will choose lower-risk investment strategies."

 

Gen Y will produce market potential for every residential product except senior housing, an assertion made by the Summer 2010 ULI/Lachman Associates Survey, which found 37 percent are renters; 35 percent are homeowners; 26 percent live with parents/siblings or student housing; and 2 percent live in mobile homes.


Courtesy of Reuters.

 

 

Video of the Week

 

Day Made of GlassA Day Made of Glass
This VERY popular video shows what is possible in the near future - including a home with some amazing technology!

 

 

Famous Quotes
 

Magic is believing in yourself, if you can do that, you can make anything happen.
Johann Wolfgang von Goethe 
 

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

 

Jennifer Ross

 

Experience Counts!
Over 22 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: 4.74%

15 yr fixed: 3.83%

 

 

 

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