HotelDel DownTown Sunset

 

 

Greetings from Jennifer Ross -  Realtor

 

My daughter arrived home last night after completing her second year at Syracuse University.  Alexandra will be interning at channel 8 this summer working behind the scenes on the evening news.  She will also work part time for Del Mar author Tom Adams, who's recent book (part of this month's lucky winner prize) is on Amazon's Best Seller list. 

Great to have her back... just in time for Mothers Day - my kids are taking me for a beach bike ride and breakfast. :-).

 

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The Winner of This Week's Drawing Is... 

 

Diane Borden

Diane has won a signed copy of Tom Adams' new Amazon Best Selling book "You Are The Logo", a bottle of my favorite wine and a designer corkscrew wine bottle opener.  Congratulations, Diane!


The next drawing will be in a few weeks......

 

 

News & Views 

 

Mortgage rates reached new record lows yet again, with the 30-year fixed-rate mortgage falling to 4.02 percent, and the 15-year fixed rate falling to 3.2 percent.

*****

San Diego ranks number nine on TripAdvisor.com's Traveler's Choice list of the Top 25 Destinations in the United States. "Elegant and sunny San Diego is truly a city with something for everyone. From SeaWorld to the historic Gaslamp Quarter, there are events and exhibits to keep even the most hard-to-please happy," cites the report. New York tops the destination list followed by San Francisco, Chicago, Las Vegas and Honolulu.

 

 

San Diego Economic And Housing Outlook Is Positive  


Finally, a positive report on the local economy. 2011 was the turn-around year and 2012 will be a continuation of that pattern, despite high fuel prices. 


We project that in 2012 the County will add more than 20,000 new jobs across all sectors of the economy. Even construction jobs will increase (more on that later). The unemployment rate should decline to the 8.0% level and first time claims should recede to 30,000-35,000 by year end (compared to 43,000 now).


Foreclosures will continue to decline. The mass of foreclosures that took place during the past three years related almost in entirety to loans that were created in the mid 2000's. Homes purchased since the 3rd quarter of 2007 have had a pre-recession level of foreclosures.


Based on the Federal commitment, we project that mortgage rates will remain low throughout 2012, although qualifying will remain challenging. We expect no help at all from the Feds on that problem.


Nonetheless, we anticipate that the resale market will remain strong with annual resales surpassing 30,000 units. We also project that prices will stabilize Countywide and actually rise in the more desirable communities.


This will be the year when solvent homeowners who have wanted to sell will finally have the opportunity to test the market. It is imperative that the market-rate sector participates in the resale market in order to maintain the sales pace of 2011.  Traditionally, a market in balance has a six month supply of resales. Based on SDAR's numbers, the supply has shrunk to less than a two-month supply.


The number of new homes to be built in San Diego County this year will be in the 2,000+ range with perhaps another 600-700 new condominium units (most of them on the Otay Ranch in Chula Vista).  Most of the single-family homes will be in North County and be in the $600,000-900,000 price range.


Most of the construction this year will be rental apartments. There are some 3,000+ apartments now under construction with another 3,000 expected to initiate construction in the next 18 months; hence the increase in construction employment.


Given the anticipated job gains and routine births over deaths, another 12,000+ households will be created in 2012. These households will typically rent, but eventually will want to buy. As rents gradually accelerate, renters feel the pressure to buy. And rents will rise in 2012 as vacancy rates recede and landlords try to catch up with rising costs.


Overall, 2012 should be a very likeable year filled with good economic news and a return of consumer confidence. The confidence level can already be seen in retail sales, auto-buying and government sales tax revenue collections.


Courtesy of SDAR.

 

 

Video of the Week

 

Mother's Day Card Mother's Day Card

This hilarious video shows 2 brothers as they try to take a picture for a Mother's Day card together.

 

 

Famous Quotes

 

Any mother could perform the jobs of several air-traffic controllers with ease.
Lisa Alther
 

My mother's menu consisted of two choices: Take it or leave it.
Buddy Hackett
 

The most remarkable thing about my mother is that for thirty years she served the family nothing but leftovers. The original meal has never been found.
Calvin Rillin

 

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: 4.02%

15 yr fixed: 3.2%

 

 

 

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