Marti Kilby, CRS

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Fun Facts about San Diego County Wineries

History

  • California wines, now world renowned, got their start over 200 years ago right here in San Diego when the Franciscan priests cultivated grapes at the first California mission, San Diego de Alcala. 
  • Vineyards flourished in the area until devastated by flooding in 1916, followed by WWII and prohibition which collectively wiped out the industry.
  • Wineries didn’t begin a comeback in San Diego County until the early 1990s. From that point forward,...
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My short answer is “No”. Last year saw mortgage interest rates hit historic lows, but this week we are seeing a small increase with the average for a 30-year fixed mortgage at 3.14%. Obviously, higher rates mean you pay more for a home both monthly and in the long term, and in a balanced market this might begin to slow demand. However, inventory is so low it is doubtful rising rates will have a major slowing effect.


As the year progresses interest rates are expected to continue to rise...

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With most homes on the market receiving multiple over asking price offers within days of being listed it is easy to assume that selling your home is a piece of cake. This has some homeowners scratching their heads thinking, “Dang, I can sell this myself and save thousands on commission. Why do I need a Realtor?”


Listing your home for sale by owner means you are willing to manage a transaction worth hundreds of thousands of dollars with no experience. Here’s 5 reasons why that is...

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Congratulations San Diego! You just became the least affordable city in California. Based on income and single-family home prices, San Diego has surpassed Los Angeles and even San Francisco in being unaffordable, according to a study by OJO Labs. So is it possible to buy a home here in America’s Finest City, or does it even make sense?


Let’s do the math.  The average income in the county is a bit over $68,000 and the median home price is $764,000. A 10% down payment would be $76,400...

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In this crazy market where overbidding is a primary buyer strategy, accepting the highest offer might not always be smooth sailing despite an enticing sales price.


One of the most common problems is an appraisal that comes in for less than the contract sales price. Let’s say you accept an offer for $800,000 and the buyer is qualified for an 80% loan. That means he is qualified for a loan of $640,000 with $160,000 down. However, if the property only appraises for $750,000 his loan amount will...

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Happy New Year! I hope this finds you and your loved ones healthy and looking forward to fewer challenges in 2022.


As the current COVID surge continues our hearts go out to the men and women who are fighting for us every day, trying desperately to reign in the virus, cope with present conditions and get life back to “normal”. In respect for their hard work and sacrifices Steele Group Realty is proud to offer home seller commission discounts and home buyer rebates to the following front-line...

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Short answer: Yes. But let’s take a quick look at the stats we’re riding on into the New Year.


San Diego County Home Sales Comparing November 2020 to November 2021

 

Median sales price for a single-family home was $750,000 in 2020 compared to $860,000 this year, up 14.7% YOY.


Median sales price for an attached home in 2020 was $475,500 compared to $595,000 this year, a whopping increase of 25.1% YOY. Demand for condos increased sharply as buyers who normally would buy a single-family...

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LOL! What the heck is “normal”? Here’s an update as of August 30 to give you an idea about how the market is trending.


To put it simply, the San Diego County market is still hot with prices increasing and supply dwindling. In August, the median price for a detached home rose to (gulp) $850,000. That is 15% higher than the median price one year ago. Not surprisingly, the inventory of homes for sale in August was 39.1% lower than 2020. The number of days on market was also lower with...

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Nationally, the first half of 2021 has been a head-spinning, record-breaking year for real estate, but how long can this continue? Here are a few facts I found interesting that should help us all better understand what to expect in the coming months. This is a national snapshot based on figures provided by the National Association of Realtors and Moody’s Analytics.


Have we hit the top of the market? The short answer is maybe. At least we’re seeing signs that it is softening. Recently the...

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That is the question of the hour as home prices continue to rise across the country and buyers are forced to engage in bidding wars to land a contract. Based on our experiences back in 2008 and 2009, it is no surprise that many are nervous about the meteoric price increases we’ve witnessed over the last year. We simply can’t afford economically or emotionally, for the housing market to collapse igniting another Great Recession.


Luckily, 2021 is a whole different ball game. The key difference...

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