HotelDel DownTown Sunset

 

 

  Greetings from Jennifer Ross -  Realtor

 


Eliot Lab 

My son Eliot is now 24 years old and happily working in Life Science I.T. He's still passionate about his music and has a band called "The Verigolds". His band recently played at the Lafayette Hotel with over 300 people in attendance! Of course, I'm his biggest groupie and was there in the front row! Eliot will soon join his younger sister in Europe to backpack around Spain, France and Italy for a couple of weeks.

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The Advocate book Teresa Burrell The Winner of This Month's Drawing Is... 

 

Tina Chase!

Tina has won the full collection of The Advocate series by San Diego author Teresa Burrell:
The Advocate, The Advocate's Betrayal, The Advocate's Conviction and The Advocate's Dilemma.  Congratulations!

 

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

 

 

News & Views 

 

One of the great debates these days is whether it is cheaper to buy a home or rent. Well, a new report from Trulia finds it depends on where you live. For instance, in Detroit it costs an amazing $338 a month in mortgage and other expenses to own a home, while renting in the Motor City would cost you $1,138, a 70 percent difference. At the other end of the spectrum is San Francisco, where ownership costs are $2,273 a month compared to renting at $2,819, just a 19 percent difference. San Diego comes down toward the middle of the survey with ownership costs here at $1,296 a month versus $1,947 to rent, a difference of 33 percent. Of course, low mortgage interest rates tip the scales toward owning a home, and prices -- while rising quickly -- still are affordable.

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And, yet another real estate report, this one from Redfin, finds
San Diego is one of the six fastest-selling real estate markets in the country. The calculation is based on the number of homes sold in two weeks or less. All six of the communities are in California -- gee, imagine that -- with San Jose the fastest with 63 percent of sold homes selling in less than two weeks. San Diego at 49 percent. By the way, Boston was the slowest selling market in the country with only 3.7 percent of its listed properties selling in less than 14 days of being listed.
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Contrary to national trends, apartment rental costs in San Diego County are declining. The apartment association here says the average monthly rent for a one-bedroom apartment in the city of San Diego fell to $1,193, down from $1,285 five years ago. Countywide, the price fell to $1,089, down from $1,177 five years ago. However, that could be changing. Alan Nevin of The London Group said, "The combination of new job formations, households undoubling and the negligible addition to the rental housing inventory will result in a very tight apartment market in 2013 with rising rents."

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Yesterday's report from the Commerce Department showing new home construction activity rose sharply in March, up 7 percent to more than 1 million units on an annualized basis, was extremely important and, of course, underreported. Building more homes requires more construction workers, people who have really suffered through the housing debacle. Considering the pent-up demand for housing, builders may soon be facing a serious shortage of skilled craftspeople. Consider this: A report this morning from Trulia finds 75 percent of people surveyed say it is better to buy a home now than to wait until a year from now. Forty-two percent of people survey regret renting rather than buying a home. "As prices rise in 2013, buyers are impatient while would-be sellers are holding back. Faced with limited inventory, many buyers will feel pressure to act fast, but snap decisions often end in regret. Even after the housing crisis, Americans main housing regrets are they didn't invest more in their homes," said Trulia chief economist Jed Kolko

 

 

Covered by Homeowners Insurance? Don't Be So Sure  


In the last year I've had two water intrusion issues at my income properties. I was quite  surprised to learn what my homeowners insurance did and did not cover.  When a leaky pipe burst in the shower ceiling of one unit I was thankful I had purchased additional coverage on my townhome.  There was a tricky clause in the homeowners association documents that stated a pipe feeding only my unit was my responsibility (even though in shared walls).  Luckily the additional coverage saved me!


I was not so fortunate on a leaky sprinkler valve that the tenant was aware of and never communicated to me.  This article is definitely worth the read!
Covered by Homeowners Insurance? Don't Be So Sure

It is filled with good information on subjects such as:

  • Why premiums and deductibles are higher
  • Water coverage when a pipe bursts in your home
  • Optional extra insurance
  • Coverage for older homes
  • How to shop for a policy

 

 

Caught red sprinkle faced Video of the Month

 

Caught Red (Sprinkle) Faced
Loved this precious video of a 2-year-old boy caught in a fib - adorable!

 

 

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 24 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: 3.64%

15 yr fixed: 2.89%

 

 

 

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