Jeannie Niles Real Estate Investment
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Market Watch: February 2007
| Type | New Listings | Pendings | Listings/Sales Ratio |
|---|---|---|---|
| Single Family Homes | 1029 | 284 | 3.6 to 1 |
| Condos | 336 | 121 | 2.8 to 1 |
| Multi-Family | 33 | 7 | 4.7 to 1 |
San Diego
| Type | New Listings | Pendings | New Listings/Sales Ratio |
|---|---|---|---|
| Downtown Condos (92101) | 154 | 59 | 2.6 to 1 |
The Good News for this month is that the ratio of new inventory coming on the market for every property going into escrow declined in all areas. Inventory is still increasing but the rate of increase to be slowing down.
A rising inventory means buyers have more product to choose from, thus creating a buyers market. Declining inventory creates a sellers market and rapid price increases like the market was in 2004/2005.
Desert Realtors as well as some Escrow Company’s are advising the market is making a come back. I think it is way too early to see any definitive trend – we need to have at least six months of positive real estate data.
I recently read a statistic that the #1 indicator of price stability was the proximity of property to the water. That’s good news for Southern California in general. True, we are having some price declines of 0 to 4.6% but this is based on the “median” home price and should be used only as one of many trends to follow.
I noted this month the largest price declines of real property was in the Midwest – an area that has the lowest priced homes anywhere!
All comments are welcomed. Happy St Paddy’s Day.
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Income property has once again become “Income property”.
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There are many small income properties available in the area. Prices here have declined over 50% since the peak of the market late 2005/early 2007.
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It’s possible to obtain some great apartment financing. 25% down payment and interest rates at 6% or slightly below.
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Cap Rate is an investment tool for analysis that enables an investor to compare one investment to another.
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Cap Rate is the best tool for determining the value of an income property.
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Some of the most outrageous episodes in property ownership that the owners lived to tell about.
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Only 5% sales agents or brokers actually own investment property, and only 10% actually sell a property.
Every investor's situation is unique, and I have over 25 years experience solving problems. Use the form below to ask me about your unique needs.
Jeannie Niles Real Estate Investment
P.O. Box 317
Palm Desert, CA 92261
P: (760) 360-4020
F: (760) 340-9069
E: jniles@realestate-investment.com
