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...

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...

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...

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...

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...

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...

As we head into what is traditionally the start of the home buying season we are faced with a highly competitive market, shaped primarily by lack of inventory. Active listings throughout California fell an average of 52% in February as compared to one year ago. The market was also driven by lower interest rates. In February of this year a 30-year fixed mortgage was 2.81% compared to February 2020’s rate of 3.47%.

The lower rates mean that people can afford to pay more, which they have to if...

I don’t know about you, but I can barely wrap my head around the idea of making some plastic trinket with 3-D printing, much less turning out a whole home! But it’s happening. The country’s first 15 home Community of 3-D printed homes will be built in Rancho Mirage, CA and are scheduled for completion by next spring.

The project is a collaboration between Beverly Hills green homes developer Palari and Oakland based housing technology company Mighty Buildings. According to the LA...

In September 2019, my husband and I made a decision to buy a cabin in the picturesque mountain village of Idyllwild, CA, about a 2 hour drive from our home in San Diego. We wanted a special getaway we could share with our grown children and grandkids. But we also knew that in order to afford it, we would need to rent it out as a vacation rental. And so began our adventure…

It’s been a bit over a year since we closed escrow. Within a month of closing, the Pandemic hit and vacation rentals...

This past spring was rough in the world of San Diego real estate, as it was for most every industry. Many homeowners yanked their homes off the market or decided not to list amid fears of COVID 19 coming into their homes on someone’s shoes or fingers. And buyers pulled back as well, equally fearful of walking into a virus laden environment.

But life goes on and real estate was recognized as an essential service. The California Association of Realtors responded with a list of guidelines and a...