Blog > Introducing Our Newest Member to the Jim & Jennie Real Estate Team! July Newsletter

Introducing Our Newest Member to the Jim & Jennie Real Estate Team! July Newsletter

by Jim & Jennie Real Estate

Your favorite duo is heading into July feeling pretty grateful. Among serving our favorite clients, we have lots to celebrate & share in our personal lives. Jim tallied another birthday with his favorite people. He also got elected for a position on the board of directors at our association of Realtors, a major honor and leadership role that he will get to fulfill in 2026! Jennie finally revealed a big surprise going on in her life... but we don't want to spoil the rest of the newsletter, so consider this your invitation to keep reading!!!

San Diego in July is packed with sunshine, events, and beautiful scenes that most people pay to visit for vacation! So... When you're needing a break this month, just remember, you have the wonderful privilege to go and enjoy our city for being one of the best in the world. From beach days to baseball season, frozen treats to fireworks, camping to car shows, there’s endless possibilities in the summer time!

In this month's newsletter you'll find...

Our Recent Activity — Check out our most recent listings & sales activity.
The Realtor® Report — Welcome to the Buyer's Market.
Personal Milestones — Celebrating a major update in the Morrison family! Our newest little member to JJRE.
Adjustable Rate Mortgages — Why are they back and do we trust them?
San Diego Summer Activities — La Mesa's Classic Car Show, Belmont Park's Centennial, and Comic Con!
Holidays & Happenings — Happy Birthday America!
Local Market Statistics — San Diego's market based on last month's statistics.
Punny I'm Home — Our joke section... Though we're the first to admit we're not funny.

Recent Activity

The Realtor® Report: Welcome to the Buyer's Market

What Makes This a Buyer's Market?

We called this months ago when the data started pointing to a slowdown in market times, an increase in inventory, and a decrease in buyer activity due to rates and an unsettling economy. We know it's not what you (sellers/homeowners) want to read, but this market is different and it's our job to keep you in the know. Prices for property in San Diego are coming down. Since February of this year, we have seen San Diego inventory climb while the number of closed sales have remained about the same. Another interesting data point: In April of 2022, we had about three weeks of inventory on the market. That means that we would have sold out of everything on the market in three weeks, assuming everything sold and nothing new came on the market. Right now, we're well over three months of inventory on the market. More inventory means more options for buyers. When you pair that fact with less buyers willing to settle in today's market you get a market we haven't seen in a long time: the buyer's market.

The Exception

We will mention, however, the exception. We're still seeing great success for the property that is completely renovated, ready for move-in, marketed well, and priced right. If a buyer doesn't have to do anything except move in, the property is selling fast and sometimes with multiple offers. Trust us, we have witnessed it happen for our sellers and buyers! If you're planning to sell, putting money/work into your place will lead to a faster sale and better ROI now, more than it has in the past 5 years. On the other hand, if you're planning to buy... It's your time to shine! The market couldn't be better for you. You have lots of choices, negotiation power, and little competition compared to years prior: all things which lead to discounted home prices and better deals for you!

Personal Milestones: Our Newest Little Member

Jennie & Noah (husband) are excited to welcome their first little addition to their family, a baby boy, coming this December 2025! They eagerly await filling the roles as Mom & Dad together, especially after having so many years getting to be the fun aunt & uncle to their little nieces & nephews. There has already been an overwhelming amount of excitement from their announcement, and they can tell that this little guy is going to be so loved by their village of support. It's news they've been keeping close, but news they are so glad to finally have out in the open!

We (Jim & Jennie) have always known this team of ours was going to grow, and we embrace navigating the changes ahead of us! We look forward to showing you all more of our personal lives, especially as so many of you have graciously and vulnerably shared with us. It's at the core of our business to celebrate our homes; the additions, the changes, the people that fill it, the new milestones, and the new life within it!

Jennie and Noah had a lot of fun putting a creative twist on their baby announcement. Jennie's love for calligraphy & design mashed with Noah's gift for cinematography made for a short and sweet video. If you'd like to watch their short announcement clip, click on the links below to watch.

Instagram

Facebook

Adjustable Rate Mortgages: Why Are They Back & Do We Trust Them?

A lot of active buyers have felt the sting of our recently high interest rates and been forced to get creative with their financing. Whether it's finding a rare grant programs, getting gift funds, or shopping lender programs... They are doing whatever they can to get a smaller monthly payment. One thing we've witnessed make a comeback are adjustable rate mortgages (ARMs). If you remember the crash from 2008, you might associate ARMs as bad and risky. However, they are back, today's market is different, and we think they are a reasonable thing for buyer's to consider.

Here's the thing, ARMs are giving buyer's a leg up by offering them a lower initial interest rate without having to pay for an interest rate buy-down. We've seen some ARM programs offer buyers a starting interest rate of 6% for the first five years (a decent amount of time to refinance), while competitive fixed rates are closer to 6.9%. The difference in those two rates would save a buyer hundreds of dollars/month! Utilizing the ARM allows buyers to get their foot in the door during a buyer's market like we're in now, and gives them the opportunity to refinance whenever they want to before their rate adjusts. If rates go up, then a buyer does risk the chance of their rate/payment going up in the first adjustment period; however, the opposite is also true... Your rate could adjust down too.

So if you're a buyer and you want to check out this option, it's important that you ask these two questions when you're considering an ARM:

1. How often does the rate adjust?

2. What is the maximum that the rate can go up/down per adjustment?

Where do you think rates will go in the next couple years? Do you think it's worth it?

San Diego Summer Activities

La Mesa's Classic Car Show Belmont Park's Centennial Comic Con 2025

Visit Website Visit Website Visit Website

It's so hard to pick only three activities to highlight this month! In fact, most of the time we talk with you we get to hear about something new going on that we didn't even know existed. It's pretty neat to witness the endless amount of things going on in our beautiful city. Despite the challenge, we decided to highlight three events that were unique to each other. La Mesa is holding their 31st Classic Car Show every Thursday in July, featuring live music and a line of classic vehicles. The iconic Belmont Park is celebrating 100 years this summer, and we think it's something to talk about! Comic Con is back July 24th-27th! Click on the photos or the buttons beneath them to visit the respective attraction's website.

Click on the photos or the buttons above them to visit the respective attraction's website!

Holidays & Happenings

4th of July: Happy Birthday America!

Market Update

This data is pulled from last month and based on all residential sales in San Diego County.

Median Sales Price: $900,000

Slight decrease from last month.

New Listings: 3,283

That's how many homes were added to the market last month.

Active Listings: 6,564

We have 3 months of inventory on the market!

Pending Sales: 1,925

Slight increase of pending sales from last month.

Closed Sales: 1,889

Essentially the same as last month.

Average Days on Market: 16

Shorter market times than last month.

Median % of Asking Price Received: 98.7

Properties are selling close to their asking price, but not always above!

Punny, I'm Home!

What do you call a Realtor taking calls, responding to emails, and negotiating offer on the beach?

A Realtor® on vacation!

Thinking about buying property this year? Reach out for a FREE buyer consultation! We break down the home buying process for you, and run actual numbers to show you how much of a home you can afford in your desired timeline. Text/email us with FREE BUYER CONSULT, and we will schedule with you!

Homeowners, want to know how much your home is worth? Reach out for a FREE home valuation that’s more accurate than your online Zestimate is! You don't need to give us a reason, and we don't expect you to sell if you ask for one. Reply back to this email with FREE HOME VALUATION and we will get to work on yours!

Whether you're planning to make a move soon, considering to rent vs. sell, or maybe you're making a plan for years down the line — We're here to provide insight, guidance, or just a friendly conversation about the market. We are all ears for your feedback on this newsletter too. Let us know what you think or how we can add more value to your real estate journey! Reach out, let's talk!

Growing Together,

Jim & Jennie

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Jim & Jennie

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