2013 Year for Condo Price Gain, Cash Buyers, Monthly Payments Rise and Rentals Increase!
The San Diego Tribune printed a good article on January 26, 2014 regarding the real estate market in 2013 with a map from DataQuick showing the appreciation for homes in the various cities and communities of San Diego County.
According to the statistics, condos gain the most in price with the top price increase going to Borrego Springs and the lowest to Rancho Santa Fe 92091.
Monthly mortgage payments are rising due to the increase in home prices and interest rates…. also the amount for a conforming loan for Frannie Mae/Freddie Mac decreased to $546,250 meaning more homeowners will be paying the higher jumbo rate for their loans.
Cash buyers made up over 30% of the real estate buyers in 2103 and home-flipping may decrease with more rentals coming on the market.
If you would a copy of the article with the map emailed to you, please send a request in subject line "Great Appreciation article" to DeeMarie@SellingProperties.com