San Diego Real Estate - Harbaugh Homes: Sales

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Saturday, September 20, 2014

89% Surveyed Believe Home Ownership is Important; 64% Believe it is Attainable.

89% Surveyed Believe HomeOwnership is Important; 64% Believe HomeOwnership is Attainable.

Achieving The American Dream.

Owning your own home has historically been a dream for most Americans. However, the percentage of people renting is currently at a statistical high, but the tables seem to be turning for many who are feeling it is important to buy a home for themselves and/or their families.

89% (eighty-nine percent) of Americans, surveyed by Country Financial Security Index, believed that homeownership is key to achieving the American Dream. This figure varies, but remains relatively and consistently high. Most people would love to own their own home, rather than pay rent.

Achieving The American Dream is Possible.

Further, 64% (sixty-four percent) of those asked, in that same survey, thought homeownership is more attainable than they had previously believed in recent years, following the real estate and economic downturn of 2008.

Last year less than half of the U.S. population believed average-income families could afford or qualify to buy a home. That number is up considerably.

The Only Constant is Change.

What a difference a year makes, as the economy continues to show clear signs of growth and recovery. While it is not true for all, most Americans are feeling at least somewhat, if not a lot, more secure in their homes, their careers, and with their finances.

It is virtually impossible to time the real estate market or the stock market. The ideal objective is to buy low and hold, or to buy low and sell high.

The other side of this is you and/or your family needs a home, and you can choose to continue to pay your landlord's mortgage payments with your monthly rent or you can pay down, and eventually pay off your own mortgage.

Greener Pastures.

My clients have often heard me compare people considering buying real estate to cows - if no cow is going out to pasture, then no cows will go out of their safe yard to the pasture.

Taking that analogy further down the country road, when one, or a few cows, starts to head out, most or all the others are certain to follow them to greener fields.

Read related articles:

Housing Crisis Didn’t Shake Most Americans' Confidence

Home Ownership is the Foundation of the American Dream

Mark Harbaugh, J.D. - Broker
DRE #: 01245275
Office 619-246-2860
markonthemark@gmail.com
HARBAUGH HOMES

Tuesday, September 2, 2014

328,500 new jobs were created in California in the last 12 months.

328,500 new jobs were created in California

in the last 12 months.

328,500 new jobs were created in California in the last 12 months, second only to one other state in the U.S.

So nice, for all of us, to see that job creation is back to pre-recession levels, nationally and in most individual states.

Because California is a large and populous state, it needs to create a lot of jobs to keep up proportionally with the rest of the U.S. This is happening; California is ranked number 17 out of the 50 states. That is better than average, but there is always room for improvement.

We can all benefit from more jobs and the creation of better jobs.

Most agree that we need more jobs and many even opine that we need better jobs. Unequivocally, however, we are seeing definite signs of improvement.

Good begets more good; the oposite is also true.

This good news spreads optimism and this optimism directly and indirectly creates more jobs, which hopefully leads to the creation of better jobs as well.

The opposite is also true; pessimism is a job killer. Further, negative news, even when incorrectly reported, leads to the creation of fewer and lower paying jobs because employers are hesitant to expand their businesses, thereby creating good quality jobs with good salaries. Logic dictates that when bad news prevails, this manifests uncertainty and low consumer confidence.

Good news is news too.

Clearly, we are, as a country, heading in the right direction, despite some of the noise to the contrary. Some publications, online, in print, and on television, report only the problems. It becomes a self-serving prophecy.

It is important to give credit and acknowledge the good news, rather than simply complain, by stating the obvious that we need more jobs and better jobs.

Think about this when deciding where to get your "news."

Read related article:
http://economistsoutlook.blogs.realtor.org/2014/08/29/metro-and-state-employment-conditions-july-2014/#sf4406587#sf4409856

Mark Harbaugh, J.D. - Broker
DRE #: 01245275
Office 619-246-2860
markonthemark@gmail.com
HARBAUGH HOMES

Friday, August 22, 2014

OPEN HOUSE SATURDAY - Roomy Mission Valley Condo - Near The San Diego River!

Roomy Mission Valley Condo - Near The San Diego River!

FEATURED LISTING

Offered at $195,000

For more pictures instantly:

Text "2480079" To 79564

OPEN HOUSE SATURDAY 8/30 2-5PM

OPEN HOUSE SATURDAY 8/30 2-5pm. Perfect open and roomy TOP FLOOR home. One Bedroom, plus office/den/studio/baby nursery. Facing lush mature trees. Large patio features beautiful tile floor and sliding doors from both living room and bedroom. Wonderful tile and natural stone throughout: kitchen floor, at breakfast bar, at entry way, and extensively in the bathroom and shower. This home has it all and is perfect for Smart Investors or first time buyers. Complex exterior was recently painted with neutral colorful palette.

Complex enjoys amenities such as pool, hot tub, bar-b-que areas, and covered parking. Close to Fashion Valley and Mission Valley malls, YMCA, Theaters, Restaurants, Trolley stops, and next to the San Diego River and Nature Trails along the S.D. River!

1 bedrooms
1 bathrooms
726 approx sq.ft.
Pool
Hot Tub
Bar-b-que Areas
Picnic Tables
Close to S.D. River

Enjoy Nature Trails
Large Tiled Patio
Open Floorplan
Breakfast Bar
Bonus Space
Office/Den/Studio
Baby Nursery
2 Large Closets

http://7944missioncenterct.AgentMarketing.com

Mark Harbaugh, J.D. - Broker
DRE #: 01245275
Office 619-246-2860
markonthemark@gmail.com
HARBAUGH HOMES

Saturday, June 7, 2014

Top 3 Reasons Why 36 Million People Moved From Their Home.

The Number One Reason Why 36 Million People Moved To A New Home, according to the U.S. Census Bureau, is housing-related, and not because of a job or family reasons.

To move or not to move, that is the question.

The next question is why do people move from their current home to another home?

While there are as many reasons for moving as personality types or architectural styles of homes, the number one reason why approximately 36 million people moved from 2012 to 2013 is that those polled simply wanted a different home or other housing-related issue, and not due to family reasons (No. 2) or employment reasons (No. 3).

Housing: 48%;
Family: 30.3%; and
Employment: 19.4%

That's right, people responded that their decision to move was mostly influenced by their desire or need for a different option for housing than the one they had currently enjoyed, or didn't enjoy.

Therefore, over 17 million (representing 48% of the 36 million) who moved during the time polled, wanted a new or better home, a better neighborhood, or they wanted to own a home and stop renting.

Source: U.S. Census Bureau

"We asked people to select the reason that contributed most to their decision to move. Picking one reason can be difficult as moves are often motivated by many different, and oftentimes competing, factors," said the report's author, David Ihrke, a demographer in the Census Bureau's Journey to Work and Migration Statistics Branch.

Other reasons that cause people to move for employment-related reasons are when they are starting a new job or due to a job transfer. Family-related reasons include establishing their own household or a getting married or divorced.

As a personal insight with my 15+ years in the real estate business, I feel that people are feeling more free to move, following years of feeling stuck in circumstances not of their choosing, due to the housing and economic situations in the U.S. They felt stuck in their small home, with roommates or with their parents when they would have rather had a larger home or their own home.

It may sound cliche or like a punch-line to a lame joke, but:

Why are people moving? ... because they can.

Read more:

No. 1 reason people move | 2014-06-05 | HousingWire

The Real Reason People Moved Last Year

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Mark Harbaugh, J.D. has been a licensed REALTOR® in California since 1998. He is a real estate Broker, holds a Bachelors Degree and a Law Degree.

Since 1998, Mark has been providing expert representation to buyers and sellers of homes, condos, multi-unit properties and multi-million dollar estates.

His clients include friends - old and new - colleagues, professional football and basketball players, original founders of Fortune 500 companies and other high-profile personalities, who value their privacy and anonymity. Mark has also consulted Nationally and Internationally with many interested in buying and selling real estate.

Mark can be reached at 619-246-2860.

Email: markonthemark@gmail.com

Wednesday, April 30, 2014

Top 10 Cities for Fastest Selling Real Estate - San Diego is #9

How long does it take to sell a home in San Diego?

10 Fastest Selling Real Estate Markets - San Diego is #9

San Diego, California makes yet another top 10 list. This time for being number 9 in the top ten fastest selling cities in the nation, with an average market time of 51 days.

Read the entire article:

10 Markets Where Homes Are Selling the Fastest...

Tuesday, April 15, 2014

Top 5 Reasons Why International Buying of US Real Estate has Doubled, Tripled or more: San Diego, California is in Big Demand.

International Demand for US Real Estate continues to Sky-Rocket: San Diego, California is at the Top of that List.

People all around the world want to live in the US.

Why do people around the world buy property in the United States? There are several reasons, but here are perhaps the top 5 reasons:

Attractive home prices as a result of the 2007 recession;
The US economy is relatively stable;
The weather in the US is desirable (more so in some areas than others);
The English language is a common language; and
People, all over the world, love America (despite the opinions of some).

This serves to make already desirable real estate markets even more desirable.

San Diego is a very desirable city and in big demand for visitors, investors and for people wanting to call San Diego home.

People love to visit, invest and live in San Diego.

The weather is perfect all year long.

San Diego enjoys the Pacific Ocean to the West, the mountains and desert to the East, Mexico to the South and all things Los Angeles to the North. Therefore, whether you enjoy physical activities, culture and the arts, or exploring and being adventurous, there is something for everyone in San Diego.

Because there is so much to see and do, tourism in San Diego is big business. But, this city is not limited to tourism to support its economy.

San Diego continues to diversify its already very diverse economy with industries such as medical research, biotech, energy technology, telecom and technology in general.

In 2015, San Diego will celebrate 100 years since its world fair Exhibition of 1915. Big plans are being made, which will attract further interest throughout the world.

With the increase in International demand, San Diego continues to become more and more desirable at a very fast pace.

Related articles:
8 Countries Where There's a Rush for U.S. Real Estate
10 Countries Racing to Buy American Homes

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Blog:
http://harbaughhomes.blogspot.com/

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Community and Charitable Work:
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Saturday, February 22, 2014

5 Important Things Buyers Should Know When Applying for a Mortgage.

1. Be prepared to document your finances.

With new loan standards, borrowers are required to full documentation of income, expenses and other items such as a windfall deposit or gift.

2. Lock in a rate soon.

Rates are expected to rise as they are currently at historic lows.

3. Shop around.

Consider interest rate, closing costs and level of service when shopping for a mortgage loan.

4. Pay careful attention to credit.

720 is considered a good FICO score. 680 will also be sufficient to qualify for most loan programs. Typically, the higher your score, the lower your interest rate and closing costs will be.

5. Watch your spending.

When you are considering purchasing a home or investment property, it is not time to go out shopping for a new car, new furniture for that dream home or to charge an expensive vacation on your credit cards.

5 Mortgage Tips for Home Buyers

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OTHER SOCIAL MEDIA CONNECTIONS:

Six Things You Must Know Before Deciding to Buy or Sell a Home in California This Spring.

San Diego Real Estate Market Update - January 2014

The Good News, The Bad News and Where are We Going From Here?

The January 2014 real estate numbers are in for California and San Diego.

Even the negative news is not really negative when we compare the recent median home price decline with California's and San Diego's historical statistics. The market continues to be strong, as the real estate rebound and market recovery continues for San Diego and California.

In This Blog:

The median home price for California decreased 6.2% from December 2013 to January 2014; down 0.1% in San Diego; a 9% decrease is typical for California for this same period.
January 2013 to January 2014, the median home price in California rose 22.1% from $336,650 to $410,990; up 21.8% in San Diego (24.5% for San Diego condos).
23 consecutive monthly increases year-over-year; 19 of those months were double-digit increases.
Home prices in San Diego and the U.S. are still discounted from their pre- Great Recession" levels.
All three major stock market indices are approximately 60-80% higher than their pre- "Great Recession" levels.
California Home Prices were still 23% off their highs from June 2006, as of September 2013 .

The Negative News

There is no doubt that real estate sales and median prices in California and San Diego did, in fact, decline from December 2013 to January 2014. However, when we look at state-wide numbers and San Diego's historical numbers, we will see that the real estate market remains strong.

On average, for the last 6 years, the California median home price typically falls about 9% from December to January.

In San Diego County, from December to January, the median price for single family homes was down only 0.1%. Statewide, the median price for California single family homes decreased only 6.2%. California's December median price of $438,090 fell to $410,990 in January 2014.

When commenting on this decrease, the Vice President of California Ass. of Realtors and Chief Economist Leslie Appleton-Young stated the following:

“The decline in the January median price [for California] was the largest in a year but is typical between December and January, with that decline averaging nearly nine percent over the last six years.”

Comparing California's 6.2% decline this year with its typical 9% decrease, the California's real estate market continues to show strength.

Specifically, comparing January 2013 to January 2014, the median price in California rose 22.1% from $336,650 to $410,990. This makes 23 consecutive months of increases year-over-year; 19 of those months were double-digit increases year-over-year.

Single family homes rose 21.8% in San Diego from January 2013 to January 2014. Condos rose 24.5% during that same period.

The Lack of Supply of Homes on the Market - Increased only Slightly.

The supply of single-family homes rose in January to 4.3 months. This is an increase from December 2013 where there was a 3 months supply. A supply of 6 to 7 months is considered normal or typical. This shows a lack of inventory, which is likely contributing to the lower number of sales, both for California and San Diego.

Comparing Home Prices - Then and Now - Still Discounted from their Peak.

Home prices in San Diego and the U.S. have yet to return to their pre- Great Recession" levels. From the graphic below, we can see that California is still 23% off its peak prices. But, as we can see from the charts below, all three major stock market indices are approximately 60-80% higher than their pre- "Great Recession" levels.

This also is a good indication for continuing strength in the real estate market.

San Diego, CA - Home Price Index

California - Home Price Index

California 23% Appreciation from Sept 2012 to Sept 2013

Home Prices are Still Discounted from 2006

While median home prices rose 23% from January 2013 to January 2014, they are still 23% down from June 2006.

Comparing The Stock Market - At All-Time Historic Highs.

Comparing the stock market figures, you will see that all three major indices are currently trading at all-time historic highs, whereas home prices are still rising off their hugely discounted lows of 2009. Looking at the stock market charts below, you can see the recent volatility, during the months of January and February. The DOW, S&P 500 and the Nasdaq, at their peaks, seem to be deciding whether to correct downward, as investors take their profits or whether to steam upward.

All three indices are approximately 60-80% higher than their pre- "Great Recession" levels. Again, whereas the median home prices are still climbing to their pre- Great Recession" levels.

Stock Market - Major Indices

Dow Jones, S&P 500 and Nasdaq One Year Chart - SHOWING VOLATILITY AT THEIR PEAKS.

Dow Jones, S&P 500 and Nasdaq Chart since 2001 - AT HISTORIC HIGHS.

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Friday, February 14, 2014

Mortgage Rates Inch Up After 5 Weeks of Falling Interest Rates.

Typical Winter Mortgage Interest Rate Decline Ends As Spring Draws Near - Perhaps Beginning their Upward Trend.

A. Interest Rates Fall in the Fall and Winter.

DEMAND FOR REAL ESTATE AND LOANS TYPICALLY INCREASE IN THE SPRING - AN INCREASE IN HOME PRICES AND INTEREST RATES IS USUALLY EXPECTED.

Interest rates, like the outdoor temperature, rise and fall. Mortgage rates typically follow the basic economic principle of supply and demand. The demand for home buying falls in the Fall and Winter seasons, as the kids start back to school and everyone prepares for the holidays. Because home buying slows and the mortgage business slows during this time, interest rates tend to also decrease during the fall and winter months.

Conversely, demand for mortgage loans increases as home buyers come back to the market in the Springtime, thereby causing an increase in the interest rates through the spring and summer.

One-Year Chart - Interest Rates - February 2014

B. Home Prices Fall in the Fall and Winter.

REAL ESTATE PRICES FALL IN THE FALL AND WINTER; AND RISE IN THE SPRING AND SUMMER.

Likewise, home prices tend to fall in the fall and winter time and increase in the spring and summer. The chart below shows a clear pattern of falling prices in the fall and winter and increasing prices in the spring and summer selling season.

Equally notable is the long-term, 5-year upward trend in home prices. Is this a sign of what's to come of real estate prices?

C. Home Prices Are Trending Up.

THE HOUSING REBOUND IS WELL ON ITS WAY.

Following the Great Recession, real estate values undoubtedly appear to be on the rise, according to the chart below showing the Home Price Index. Many experts agree this trend will continue as the economy continues to improve, unemployment returns to normal and significantly lower levels, and as banks ease their lending requirements.

San Diego home prices are on the rebound as reported by the S&P/CASE-SHILLER SAN DIEGO HOME PRICE INDEX. Prices are also on the rise Nationally.

D. Don't Miss The Boat.

Since entering the real estate business in 1998, I have learned that opportunities come and go. Timing is key!

For home buyers, who want a good price and a good value when buying their home, it is a good idea to buy when prices and interest rates are down.

For real estate investors, who want to buy low and sell high, the same rule applies. And for investors, who want to buy and hold onto their property, again the best time to buy is when prices and interest rates are down, in order to maximize your return on investment.

Real estate buyers, like any buyer of products and services, want a discount. What better time to buy than when both home prices and interest rates are down?

It is important to know that these principles apply during a normal real estate market and that real estate is very localized. This means what is true for one market may not work for another area.

With the real estate rebound in the news more and more everyday, many agree that we are returning to a more "normal" real estate market than we have previously seen in recent years.

Call, Text or Email today to start looking for your new home or investment property.

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Thursday, September 26, 2013

35% Cheaper to Buy Than Rent Your Home

35% Cheaper to Buy Than Rent Your Home.

During the Summer of 2013, Trulia, an online real estate site, reported the results of its study of whether it is cheaper to buy or rent your home.

This study included 101 of the largest real estate markets in America and compared the cost of buying versus renting for June 1st to August 31, 2013.

In San Diego, it would be 20% cheaper to Buy a Home than to Rent.
For a savings of over $300 per month. - Source: Trulia

To Buy or Rent - That is the Question.

With the uptick this Summer in interest rates and home prices, buyers have cooled down heading into Fall to re-evaluate whether their plan to buy a home, instead of continuing to pay rent, is still a good idea.

In short, the answer is yes.

Buying is still cheaper than renting; not to mention buying a home is a great way to grow wealth in the long term and potentially save on your income taxes. The result is financial security and financial freedom.

According to Trulia's Buy vs. Rent Study, on average, it is 35% cheaper to buy a home than to rent. This figure is down from 45% last year.

8 out of 10 People own their home or plan to buy.

Even with the Recent Uptick in Interest Rates

and the Increase in Home Prices?

Yes, the author of the results reported, “Recent mortgage rate and home price increases have made buying significantly more expensive than last year, but not enough to tip the math in favor of renting. This is because rates remain well below historical norms, and prices are still slightly undervalued, too.”

What Questions Do I Ask?

Trulia has a pretty nifty interactive tool to help calculate whether buying is cheaper than renting for your particular situation. You must consider the following factors:

What is your target monthly rent?
What is your target home price if buying?
How long would you live in your home?
What is your income tax rate?
What is your mortgage interest rate?

San Diego: The Results for Buying versus Renting.

So, I tried Trulia's calculator for renting versus buying in San Diego because recently a property, which I manage, was available for rent.

I had well over 50 emails, texts, and phone calls from prospective renters willing to pay $1,600 per month for this 2 bedroom, 2 bath condo, which would sell for about $300,000!

For those who appeared to be perfect candidates for buying, instead of helping the landlord pay off his mortgage and his investment property, I would ask them,

**"Why don't you buy a home?"**

Using this example, in San Diego, if you were considering paying $1,600 monthly rent or buying a $300,000 home, it would be 20% cheaper to buy than to commit to that lease, according to Trulia's calculator. You would save approximately $300 per month buying your home over renting! See the graphic above.

Don't Rent from me - Let's Go Buy a Home!

5 Top Reasons People Buy their Home rather than Rent.

Some would-be buyers asked, "What if I don't know if I will live in the home for 5 or 7 years?"

You could hold it as a rental property or sell it and take the profit as your down payment on your next home.

The tenants would pay off your investment, rather than you paying off your landlord's property.

Contact me to See Whether You Qualify to Buy

And How Much You Could be Saving

Call, text or email me to get pre-qualified for a loan and see if

now is a good time for you to buy a home.

For the details and how this is calculated, click the link and try The Interactive Calculator yourself.

Click the link to read Trulia's article on renting vs buying:
News Room - Trulia.com - Press Releases

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Featured Post

Saturday, September 20, 2014

89% Surveyed Believe HomeOwnership is Important; 64% Believe HomeOwnership is Attainable.

Achieving The American Dream.

Achieving The American Dream is Possible.

The Only Constant is Change.

Greener Pastures.

Tuesday, September 2, 2014

328,500 new jobs were created in California

in the last 12 months.

328,500 new jobs were created in California in the last 12 months, second only to one other state in the U.S.

We can all benefit from more jobs and the creation of better jobs.

Good begets more good; the oposite is also true.

Good news is news too.

Friday, August 22, 2014

Roomy Mission Valley Condo - Near The San Diego River!

FEATURED LISTING

Offered at $195,000

OPEN HOUSE SATURDAY 8/30 2-5PM

Saturday, June 7, 2014

The Number One Reason Why 36 Million People Moved To A New Home, according to the U.S. Census Bureau, is housing-related, and not because of a job or family reasons.

To move or not to move, that is the question.

Wednesday, April 30, 2014

How long does it take to sell a home in San Diego?

10 Fastest Selling Real Estate Markets - San Diego is #9

Tuesday, April 15, 2014

International Demand for US Real Estate continues to Sky-Rocket: San Diego, California is at the Top of that List.

People all around the world want to live in the US.

San Diego is a very desirable city and in big demand for visitors, investors and for people wanting to call San Diego home.

Saturday, February 22, 2014

5 Important Things Buyers Should Know When Applying for a Mortgage.

Six Things You Must Know Before Deciding to Buy or Sell a Home in California This Spring.

San Diego Real Estate Market Update - January 2014

The Good News, The Bad News and Where are We Going From Here?

The Negative News

The Lack of Supply of Homes on the Market - Increased only Slightly.

Comparing Home Prices - Then and Now - Still Discounted from their Peak.

Comparing The Stock Market - At All-Time Historic Highs.

Friday, February 14, 2014

Typical Winter Mortgage Interest Rate Decline Ends As Spring Draws Near - Perhaps Beginning their Upward Trend.

A. Interest Rates Fall in the Fall and Winter.

DEMAND FOR REAL ESTATE AND LOANS TYPICALLY INCREASE IN THE SPRING - AN INCREASE IN HOME PRICES AND INTEREST RATES IS USUALLY EXPECTED.

B. Home Prices Fall in the Fall and Winter.

C. Home Prices Are Trending Up.

D. Don't Miss The Boat.

Thursday, September 26, 2013

35% Cheaper to Buy Than Rent Your Home.

To Buy or Rent - That is the Question.

Even with the Recent Uptick in Interest Rates

and the Increase in Home Prices?

What Questions Do I Ask?

San Diego: The Results for Buying versus Renting.

"Why don't you buy a home?"

Don't Rent from me - Let's Go Buy a Home!

Contact me to See Whether You Qualify to Buy

And How Much You Could be Saving

**"Why don't you buy a home?"**