The most recent release of the S&P Case-Shiller Home Price Index showed a year-over-year increase of home values in San Diego county of 17%! The average throughout the Country was 12%. This is the biggest year-over-year gain for San Diego county as measured by this index in years, so the logical question is: When will it end? Prices just can’t keep going up forever…right?
Read the full story from the U-T here: Home prices up 17% in San Diego County.
Our Expert panel today agreed the biggest issue is inventory; the number of homes available for sale. If there continues to be very few homes for sale, then prices will climb higher regardless of interest rates or affordability. Personally, I think the further we go with this rally in real estate, the more dangerous it becomes. My hope is to see prices level off in the next couple months so we can try to keep housing affordable and avoid a “bubble”, but I don’t know if there’s any stopping this train. It has a LOT of momentum.
Highlights from today’s Mr Credit Radio show below…
Listen to the podcast here:
– Facebook, the stock, finally reaches it’s IPO price of $38/share. The Facebook IPO was the talk of the stock market back in May of 2012, but just today finally got initial investors their money back if they held on to it of course. Check out the story here: Facebook gets back to IPO price a year later.
– Woman in Oregon who was awarded over $18 million in a lawsuit against Equifax very well could make doing credit repair even more effective than we ever thought possible. I discussed this on the show today with Credit Repair Mike from United Credit Education Services. You can call Mike with questions about Credit Repair at 619.734.9454
– With the future of interest rates uncertain as usual, our mortgage expert, Jon Jerotz, helps us with an update on the Fed meeting and where he thinks we’ll see mortgage rates move next. If you have a question about refinancing or buying a home, call JJ at 760.522.2298
– Popular real estate TV shows like Flip This House and Million Dollar Listing are great TV, but is it reality? Jill Eastman joined us today from Magnus Realty Group. It was great to get her perspective on how this stuff really works and which parts of the TV show are missing key parts of the real estate flipping reality.