14099 Brent Wilsey Pl Unit 3 San Diego, CA 92128

**New Listing!**

3Bed-2.5Bath-1,427 Sq. Ft.

Priced at $659,000!

Welcome to one of the best locations in desirable Cypress Greens community of Carmel Mtn Ranch! Enjoy fantastic views from private backyard & upstairs balcony in addition to spacious grass area directly outside front door! Home meticulously maintained by original owners & shows like a model! Boasts all the upgrades incl. travertine flooring, granite counters, SS appl, walk-in pantry, plantation shutters, crown molding, zoned A/C, fireplace, 2 car garage & more! Complex has resort style pool/spa, tot lot!

CLICK HERE for more information and photos!

404 W 4th Ave Escondido, CA 92025

**New Listing!**

2Bed-1Bath-816 Sq. Ft.

Priced at $399,000!

Great opportunity to own charming craftsman bungalow style home in lovely part of Escondido! Property sits on spacious corner lot and offers tremendous potential for redevelopment or expansion! Property features original hardwood floors, murphy bed in guest bedroom, ceiling fans, dedicated laundry room, quaint front porch, detached 2 car garage, large backyard, mature trees and more! Walking distance to movie theater, performing arts center, schools, parks, restaurants and shopping! Investors welcome too!

CLICK HERE for more information and photos!

C.A.R. releases its 2019 California Housing Market Forecast

Market shift underway as housing shortage issue becomes demand issue

LOS ANGELES – A combination of high home prices and eroding affordability is expected to cut into housing demand and contribute to a weaker housing market in 2019, and 2018 home sales will register lower for the first time in four years, according to a housing and economic forecast released today by the CALIFORNIA ASSOCIATION OF REALTORS®’ (C.A.R.).

C.A.R.’s “2019 California Housing Market Forecast” sees a modest decline in existing single-family home sales of 3.3 percent next year to reach 396,800 units, down from the projected 2018 sales figure of 410,460. The 2018 figure is 3.2 percent lower compared with the 424,100 pace of homes sold in 2017.

“While home prices are predicted to temper next year, interest rates will likely rise and compound housing affordability issues,” said C.A.R. President Steve White. “Would-be buyers who are concerned that home prices may have peaked will wait on the sidelines until they have more clarity on where the housing market is headed. This could hold back housing demand and hamper home sales in 2019.”

C.A.R.’s forecast projects growth in the U.S. Gross Domestic Product of 2.4 percent in 2019, after a projected gain of 3.0 percent in 2018. With California’s nonfarm job growth at 1.4 percent, down from a projected 2.0 percent in 2018, the state’s unemployment rate will remain at 4.3 percent in 2019, unchanged from 2018’s figure but down from and 4.8 percent in 2017.

The average for 30-year, fixed mortgage interest rates will rise to 5.2 percent in 2019, up from 4.7 percent in 2018 and 4.0 percent in 2017, but will still remain low by historical standards.

The California median home price is forecast to increase 3.1 percent to $593,450 in 2019, following a projected 7.0 percent increase in 2018 to $575,800.

“The surge in home prices over the past few years due to the housing supply shortage has finally taken a toll on the market,” said C.A.R. Senior Vice President and Chief Economist Leslie Appleton-Young. “Despite an improvement in supply conditions, there is a high level of uncertainty about the direction of the market that is affecting homebuying decisions. This psychological effect is creating a mismatch in price expectations between buyers and sellers and will limit price growth in the upcoming year.”

Outmigration, which is a result of the state’s housing affordability issue, will also be a primary concern for the California housing market in 2019 as interest rates are expected to rise further next year. The high housing cost is driving Californians to leave their current county or even the state. According to C.A.R.’s 2018 State of the Housing Market/Study of Housing: Insight, Forecast, Trends (SHIFT) report, 28 percent of homebuyers moved out of the county in which they previously resided, up from 21 percent in 2017. The outmigration trend was even worse in the Bay Area, where housing was the least affordable, with 35 percent of homebuyers moving out because of affordability constraints. Southern California did not fare any better as 35 percent of homebuyers moved out of their county for the same reason, a significant jump from 21 percent in 2017. The substantial surge in homebuyers fleeing the state is reflected by the home sales decline in Southern California, which was down on a year-over-year basis for the first eight months of 2018. Outmigration will not abate as long as home prices are out of reach and interest rates rise in the upcoming year.

SOURCE: CAR dot org

7958 Mission Center Ct Unit E San Diego, CA 92108

**For Lease, Available Now!** (LEASED!)

2Bed-1.5Bath-1,008 sq. ft.

Priced at $1,995 per month!

Light and bright 2 bedroom, 1.5 bathroom, upper unit condo in the heart of Mission Valley! Freshly painted interior and brand new carpet throughout! Hardwood floors, private balcony, spacious master with walk-in closet and more! Two reserved parking spots directly in front of unit. Complex includes heated pool and spa, BBQ area with picnic tables and laundry room, all walking distance from unit. Close to all shopping, dining, freeways, beaches and downtown!

13408 Neddick Ave Poway, CA 92064

**New Listing!** (SOLD!)

3Bed-1Bath-1,278 sq ft.

Priced at $529,000-$579,000!

Beautifully remodeled Poway gem w/ entertainer’s dream backyard! Kitchen boasts quartz counters, shaker wood cabinets, travertine flooring, tiled backsplash, SS appliances! Family room includes wood floors, custom fireplace and huge permitted bonus room adds lots of space! Central AC, dual pane windows, ceiling fans in all rooms, solar recently installed, dedicate laundry room, entire house re-plumbed! Large backyard w/ multiple entertaining spaces, kids play area and more! Award winning Poway schools!

3386 Mt Acadia San Diego, CA 92111

**New Listing!**

4Bed-2Bath-1,400 sq. ft.

Priced at $674,900-698,900!

Welcome Home! This beautiful 4 bedroom “Mount Streets” Clairemont home features an updated kitchen with gorgeous counter tops, custom cabinets, & new Slate GE appliances. This turnkey home includes stylish floors, dual pane windows, central A/C, cozy wood burning fireplace, & is absolutely stunning! The turf lawns in both front & back yards provide you a low maintenance, water free outdoor space that is great for entertaining. Fresh paint inside & out, new carpet. Quick access to Mission Bay, Shopping, Dining, Freeways, Beaches, and Park.

5345 Via Bello San Diego, CA 92111

**New Listing!**

3Bed-2Bath-1,343 sq. ft.

SOLD for $655,000!

Welcome Home to your Fully Remodeled Clairemont Home. Located in highly Desirable “Mount Streets” Neighborhood, this home sits on large 6,400 ft lot just above Tecolote Canyon. Gorgeous Remodel includes Brand New Kitchen w/ Quartz Counters, Stainless Steel Appliances, & Modern Design. Open Concept allows for Huge Living Room Space w/ Breakfast Bar Area & Unique Feel. Bathrooms are light & bright & absolutely stunning. New Roof, Plumbing, Electric, Floors, A/C Heat Combo, Custom Closets, Paint, & Patio Cover. RV/Boat Parking, Washer and Dryer inside, All Appliances Included. Close to all shopping, freeways, and only minutes to Mission Bay.

4422 Springtime Dr Oceanside, CA 92056

**New Listing!**

4Bed-3Bath-1,660 sq. ft.

Priced at $699,000-$729,000!

Rare opportunity to own absolute turnkey, everything NEW, model-like home w/ pool, panoramic views & many high end personal property items included! Full list of upgrades totaling ~$320K available, including laminate flooring, quartz counters, SS appliances, built-in Bose stereo & home theater, custom closet doors/organizers, new AC & furnace, Ring security system, Nest home automation, custom epoxied garage w/ Nordic Track exercise equipment, custom pool w/waterfall, fire pit, gorgeous landscaping & more!

12551 Alcacer Del Sol San Diego, CA 92128

**New Listing!**

3Bed-2Bath-1,705 sq. ft.

Priced at $839,000-859,000!

Gorgeous Las Flores 3 bedroom home on canyon side w/ panoramic views! Enjoy morning coffee on your covered patio and watch the sunrise or enjoy a cool beverage in the evening as the city lights twinkle in the distance.

Kitchen was completely remodeled with white Shaker cabinets & chrome hardware, grey quartz counters, SS appl., gas stove and raised ceiling w/ LED lighting! Custom backyard w/ zero maint. turf, drip system, glass fire pit, new patio cover w/ recessed lighting! Living Room boasts new dark Bamboo flooring and modern custom fireplace surround! Guest bath was gutted to install new tile shower, plumbing, fans, flooring and cabinet with quartz counter. Spacious master w/ en suite bath, slider to outside! AC, ceiling fans, dedicated laundry room, re-papered roof & more!

The perfect place for a Stay-Cation. Enjoy the cool evening breeze, light the gas fire-pit and enjoy s’mores with the kids (or grand kids). Wander down to the Bernardo Heights pool or strike up a game of tennis at several courts for your enjoyment. The Club House boasts 2 additional pools, additional tennis courts, a gym, pool table and meeting rooms. Less than 3 minutes to shopping and restaurants, 5 minutes to the freeway, walking distance to desirable Poway Unified schools! 4th of July fireworks are right over your head so no need to fight the crowds. Excellent neighbors and dog friendly area with plenty of shady sidewalks.

Housing Predictions Through 2020

Wed, 6 June 2018

Affordable home shortage to continue through 2018, new Reuters poll says.

An acute shortage of affordable homes in the United States will continue over the coming year, according to a majority of property market analysts polled by Reuters, driving prices up faster than inflation and wage growth.

After losing over a third of their value a decade ago, which led to the financial crisis and a deep recession, U.S. house prices have regained those losses — led by a robust labor market that has fueled a pickup in economic activity and housing demand.

But supply has not been able to keep up with rising demand, making home ownership less affordable. Annual average earnings growth has remained below 3 percent even as house price rises have averaged more than 5 percent over the last few years.

The latest poll of nearly 45 analysts taken May 16-June 5 showed the S&P/Case Shiller composite index of home prices in 20 cities is expected to gain a further 5.7 percent this year.

That compared to predictions for average earnings growth of 2.8 percent and inflation of 2.5 percent 2018, according to a separate Reuters poll of economists.

U.S. house prices are then forecast to rise 4.3 percent next year and 3.6 percent in 2020.

“We are not seeing a temporary phenomenon. House prices have been outrunning family incomes for several years in the U.S. and while demand has cooled off a bit, the supply side is still very tight,” said Sal Guatieri, senior economist at BMO Financial Group.

“I think house prices will continue to outrun family incomes for at least another year and it will take some time for demand to slow and to some extent supply to increase.”

The latest poll comes after weak existing and new home sales data for April.

A further breakdown of the April data showed the inventory of existing homes had declined for 35 straight months on an annual basis while the median house price was up for a 74th consecutive month.

About 80 percent of nearly 40 analysts who answered an extra question said the already tight supply of affordable homes in the United States will either stay the same or fall from here over the next 12 months.

Existing home sales, which account for about 90 percent of U.S. turnover, are now forecast to rise slightly and average 5.60 million units in each quarter this year from about 5.46 million units in April.

That is well below the peak of 7 million units averaged during the previous housing market boom, which will keep prices elevated and make housing less affordable.

When asked to rate the affordability on a scale of 1-10 where 1 is extremely cheap and 10 is extremely expensive, the median answer was 7.

“U.S. house prices are slightly over-valued when looking at fundamental valuation metrics such as the median-home-price-to-income ratio,” noted Brent Campbell, economist at Moody’s Analytics.

A pricier market is likely to push many people to rent rather than buy.

But even renting a home in major U.S. cities will become more expensive relative to average income, according to about 60 percent of nearly 40 analysts who answered an additional question.

Another potential hurdle for home buyers are rising mortgage rates. According to the poll the average 30-year mortgage rate will rise to 4.60 percent by year-end and then touch 5.0 percent by end-2019.

Those figures are a slight upgrade from the previous poll in February but seem to be in line with economists’ expectations for the Federal Reserve to tighten policy more than what the central bank’s most recent forecasts suggest.

“With mortgage rates continuing to rise, affordability is getting steadily worse,” noted Jonas Goltermann, developed market economist at ING.