HotelDel DownTown Sunset

 

 

    Greetings from Jennifer Ross -  Realtor

 

I've always wanted to experience "Day of The Dead" in Mexico.  So November 1st we flew with friends to Patzcuaro (means doorway to heaven) which is located between Mexico City and Guadalajara.  Patzcuaro is nestled amongst rolling hills and beautiful lakes.  We lodged in a gorgeous old rustic  hotel that  at one time was a Monastery.  We hired a historian who  guided us through ruins and  cemeteries and gave us a first-hand education about "Dia de los Muertos".

  

It is believed by many that death does not represent the end of life, but the continuation of life in a parallel world. One day each year, the dead return to their homes, carried by the winds. The spirits need help finding their way home and they must be made welcome. A door from the underworld is made with an arch of marigold flowers. The spirits arrive hungry, so their favorite foods are offered. They also arrive very thirsty and far too sober for the celebrations.  The gravesites are decorated with flowers, toys and photos of the departed.

  

We ate at some of the nicest restaurants but found that the best food was from the street vendors!  The shopping, art, music and dancing was AMAZING!  A fun trip!

  

Happy Thanksgiving!

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

 

JoEllen and Neal Goodman

JoEllen and Neal have won the Dinner For God  book, planner and music CD gift set by San Diego's local award-winning author, composer, and lyricist Rayme Sciaroni.  I have purchased several as gifts, and I highly recommend this 'feel good' story.

 

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

 

 

News & Views  

 

A real estate report from CoreLogic shows home prices nationwide were up 12 percent in October compared to the same month a year ago. Here in California, prices were up 22.5 percent during the period. "October marked the unofficial five-year anniversary of the start of the housing crisis. We are seeing a slowdown in the rate of price appreciation over the past few months from the rapid pace experienced over the first half of the year. This deceleration is natural and should help keep market fundamentals in balance over the longer-term," said CEO Anand Nallanthambi.

 

 

All is Not Equal in Recoveryville  


When I first came to San Diego County in the early 1970s, I did an analysis of the price of housing based on a home's distance from the Ocean. My "100% corner" was in La Jolla where if you could walk out the door of your house and be on the sand, the price per square foot was sinful. One block off the beach, the dollar per square foot dropped almost in half. And then west of I-5 but still in La Jolla (but not walking distance to the ocean), home prices dropped dramatically. By the time you reached East County, prices were 10% of what they were on beachfront.

 

Today, that mathematical exercise still applies.  I bring this to your attention because of a recent analysis we did that shows price recovery since the depth of the recession (typically 2008-2009). We compared the peak prices obtained in 2005-2006 and then monitored the recovery since then to see how far we have recovered.

 

As you might imagine, not all areas had the same rate of recovery. And, paralleling the study I did in the 1970s, those areas closest to the ocean had the most vibrant recovery. Thus, the area straddling straddling I-5 from Pacific Beach to Carlsbad has had the strongest recovery. They now are within 14% of their boom-time peak. Carmel Valley is actually within 4% of where it was at the peak. Typically, if you are within three miles of Qualcomm headquarters, your home value is probably where it was in 2005-2006.

 

As you move to the tertiary areas (the I-78, East and South), prices are still 30-40% below what they were in the hot times. They too are recovering, but at a slower pace. The tertiary areas are suffering because a disproportional percent of the homes are being held by investors, thereby limiting the amount of saleable inventory.

 

The question needs to be asked: If you were going to invest in a new place to live, will the long-term value of that home increase more in one of the outlying areas, percentagewise, than a home near the I-5 north of Pacific Beach? My bet goes to the homes in the outlying areas. It is more rational to believe that a home can move from, say, $350,000 to $500,000 (a 43%% increase) than a $1 million home can move up a similar percentage to $1.43 million. Only time will tell.

 

Alan Nevin

 

 

Video of the Month

 

The Turkey

Funny Video of a woman struggling to pick up a turkey - enjoy!

 

 

 

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 25 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: 4.39%

15 yr fixed: 3.42%

 

 

 

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