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Current Inventory

This summer has been an exciting one for us. Business has increased, and yet we've still had time to spend with our families and friends!

Hold for Renovations: 10996 Westonhill Dr., San Diego, CA 92126

Pending: 4465 Ocean Blvd. #42, San Diego, CA 92109

Closed: 1022 Grouse St., El Cajon, CA 92020 and 7225 Ocotillo St., Santee, CA 92071

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Jordan Rose Photography

 

Looking for a talented, creative, personable, and professional photographer? Meet Jordan Albright, owner of Jordan Rose Photography! Though her portfolio will showcase her gift of capturing newborns, individual brand shoots, and couples - you should know that her passion is to capture couples and the unique love stories they share. Jordan has been a friend for many, many, years and photography is one of her natural born gifts. Although if you were to ask her about her business, she'd tell you that photography is just an outlet to do what she's felt called to do - connecting with people and playing a part in helping them feel seen, known, and loved. She's genuinely chasing after authentic moments of love between two people, though the setting and occasion is never constant for her. She's hidden in bushes for surprise proposals, adventures for dreamy engagement shoots, traveled for destination elopements, and makes wedding photography look way easier than it is. We hope the next time you or a friend are in need of a couples photographer that you take the time to consider Jordan. You won't regret it! See more on her Instagram @jordanrosephoto, and feel free to contact us for an introduction!

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The Realtor Report

Two major changes are happening this month in our industry. In response to the settlement with the National Association of Realtors® (NAR), we have two big industry changes happening early August!

1. Agents working with a buyer must enter into a written agreement before touring/virtually showing a home. If you ask us, we have always utilized a Buyer Representation Agreement with our clients. We do the same with our sellers when we go to list their property. Making this a requirement prior to showing a property will be a really great change across the board with agents. Our professional relationship should be outlined before we start the process, and every agent should explain their role, commitment, and compensation with their client upfront.

2. Offers of compensation to buyer's agents are prohibited on MLSs. You can still negotiate with a seller to compensate the buyer's agent on the buyer's behalf. Offers of compensation help make homeownership and the benefits of professional representation more accessible to buyers, like first-time homebuyers, and also benefit sellers by expanding the potential buyer pool. Simply put, buyer's agents have to negotiate their compensation now instead of listing agents doing it for them. We think this is another great change in the industry. Our entire brokerage of agents have worked hard to stay ahead of the changes. We've had multiple trainings to discuss them for a majority of the year and have already adapted to new and revised forms that all buyers/sellers/Realtors® will have to use, though our business is still the same. 

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Learning Loans

When is your first mortgage payment due?

CONGRATS YOU'VE CLOSED ON YOUR NEW HOME! Okay, let's pretend that was true, and you just closed escrow on a property as a buyer. Do you know when your first mortgage payment will be due? Most people don't realize that when you close on a property, you don't have to pay your monthly payment for your current month or the one after. Why? Your first two months of payments (PITI) are collected as a part of your closing costs. You're essentially paying those months upfront. It's true, you'd be paying it one way or another, but most of our buyers enjoy the feeling of a "break" from a monthly payment right after closing considering the am amount of savings spent on the purchase, downpayment, and inspections. So if this example were true and you closed escrow today (the beginning of August), your first mortgage payment would be October 1st.

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County-Wide Stats

MEDIAN SALES PRICE: $915,000

NEW LISTINGS: 2,773

ACTIVE LISTINGS: 4,559 

PENDING SALES: 2,017

CLOSED SALES: 1,980

AVERAGE DAYS ON MARKET: 23

MEDIAN % OF ASKING PRICE RECEIVED: 100%

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Market Update - Rates Coming Down?

 

"The economy expanded at a faster pace than expected in Q2, but the latest growth rate could be the highest we will see in the next few quarters. There are signs in recent months that suggest consumers are increasingly tapped out and could pull back further in coming months. An economic slowdown, however, is not necessarily bad news for the housing market. Mortgage rates, in fact, started this week at six-month lows, as the market has become more convinced that the Fed’s rate cuts will begin in September. Home sales should begin to bounce back and improve more consistently in Q3 and Q4."

 

This quote is from the California Association of Realtors' Research Highlights this month. If rates come down, we could see an active late-summer market.

 

What do you think will happen this quarter? 

 

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Punny, I'm Home!

Why do golfers wear two pairs of pants? ....

In case they get a hole-in-one.