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Market Update, Virtual Feature, $100 Sammy’s Woodfired Pizza Gift Card Giveaway

News | 3rd Apr 2020
We are responding to a lot of questions about the market, so we’d like to share some of our answers with all of you. With this dynamic situation, we are constantly assessing the data and statistics, and attending virtual meetings conducted by industry experts. We will continue to update and support you based on what we are learning.

Real Estate Market Update

Real estate sales activities have been deemed essential services and we are taking the State, Federal, and CDC guidelines on health and safety seriously. We are following the orders and best practices with social distancing and keeping our in-person interactions at an absolute minimum. Most meetings with clients are being held virtually over Zoom, FaceTime and Skype and of course via the old fashioned phone 😊. Our leadership at Berkshire Hathaway HomeServices California Properties have been executing routine meetings to share updates on how we can best serve you at this time.

If you have any other questions, concerns not addressed here, or just want to talk, please don’t hesitate to contact us.

  1. Are you still listing and selling homes? Yes! Transactions are still being opened and closed at this time. Within the Berkshire Hathaway HomeServices California Properties network, our lenders, escrow, and title companies are all able to virtually close transactions. In addition, other service companies are able to as well and we are ensuring to work with companies who have virtual capabilities. We are fielding showing requests for our listings with strict qualifying requirements, showing virtually when possible, and physical showings are being conducted when necessary. Open houses are not allowed. Even though other brokers/agents may still be holding open houses, we are honoring health and safety first.
  2. What’s expected for this year’s housing market?
    Many wonder if there will be parallels to the 2008 Housing Crisis, however nothing is the same. We are far better positioned to come back and come back strong.

    You can see that the appreciation history of the last 5 years have been more consistent and stable than the crash.

    Another big difference between the current market and the 2008 market, is a massive amount of equity was cashed out then, a difference of $592B more.

  3. When is a good time to sell given the situation? Our research shows there is a small shadow inventory of homes which have been withdrawn from the market during this time and these will come back on the market, but not in large quantities. Based on the past 3 years, June has been the busiest month with the most amount of inventory listed, second to June is May, and least being April…so if you are considering selling your home, we recommend putting your home on the market as soon as the Stay at Home Order is lifted.Withdrawn properties in the last 21 days:
    92014:5
    92037:22
    SD County:415

    Inventory Levels previous 3 years:

    92014APRILMAYJUNETOTAL
    2019396275176
    2018416782190
    2017417197209
    92037APRILMAYJUNETOTAL
    2019124237305666
    2018122206296624
    2017126223265614
    SD COUNTYAPRILMAYJUNETOTAL
    20194,9308,4279,91323,270
    20184,8358,1609,85322,848
    20174,5287,7169,01021,254
PENTHOUSE VIRTUAL FEATURE
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and perched high above San Diego Bay.1325 Pacific Highway #3502, San Diego, CA 92101
2BD + Office + Separate Family Room/Den, 2.5BA, 3,040 sq.ft.
Offered at $4,475,000
See tour here.
SOUTH MISSION BAY VIRTUAL FEATURE
Enjoy the idyllic coastal San Diego lifestyle from this meticulously
remodeled modern ocean front Townhome with panoramic views.2965 Ocean Front Walk #2
3BD/3BA 1,766 sq.ft.
Offered at $2,775,000
See tour here.
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GIVEAWAY
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In light of everything going on, let’s have some fun and support a local restaurant at the same time. Every week, we’re giving away a $100 gift card to a local restaurant.

This week, we’re offering a Sammy’s Woodfired Pizza & Grill gift card.

 

To enter:

❤️/👍 Our Instagram Post /Facebook Post

👉 Follow us on Instagram / 👍 Our FB page

✅ Tag friends, each tag = an entry

Stay safe and call or email if we can help with anything!

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