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The Real Estate Mama Blog

San Diego Real Estate 411: The Real Estate Mama & Mike Rafii - Using Your Equity!

San Diego Real Estate 411: The Real Estate Mama & Mike Rafii - Using Your Equity!

Video #3 in The Real Estate Mama's San Diego Real Estate 411 series discusses how homeowners can use their current equity to perform a move-up buy! Mike Rafii, Home Loan Adviser with The Rafii Group at Bay Equity Home Loans, makes a guest appearance. 

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San Diego Real Estate 411: The Real Estate Mama & Mike Rafii - Tax Reform & Existing Homeowners

San Diego Real Estate 411: The Real Estate Mama & Mike Rafii - Tax Reform & Existing Homeowners

Video #2 in The Real Estate Mama's San Diego Real Estate 411 series discusses how the 2018 tax reform impacts existing homeowners! Mike Rafii, Home Loan Advisor with The Rafii Group at Bay Equity Home Loans, makes a guest appearance.

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San Diego Real Estate 411: The Real Estate Mama & Mike Rafii - 2018 Tax Reform!

San Diego Real Estate 411: The Real Estate Mama & Mike Rafii - 2018 Tax Reform!

Video #1 in The Real Estate Mama's San Diego Real Estate 411 series discusses everything you need to know about the 2018 housing tax reform! Mike Rafii, Home Loan Adviser with The Rafii Group at Bay Equity Home Loans, makes a guest appearance.

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HGTV's House Hunters looking for Southern California family for new season

HGTV's House Hunters looking for Southern California family for new season

One of the popular house hunting shows is coming to Southern California and trying to recruit a family.

HGTV’s “House Hunters Family,” a spin-off of “House Hunters,” is looking for a family with children between the ages of 7 and 15.

The Southern Californian families should be passionate about a home search and have “fun, opinionated personalities and interesting stories,” HGTV said.

Searching for a home in San Diego could prove logistically challenging for the show. Homes stayed on the market an average 31 days in 2017, and the median home price rose 9.1 percent in a year to $540,000 in December.

Still, the show’s precursor “House Hunters” often features affluent buyers. In an episode that aired in September last year, the show followed a 30-year-old aerospace engineer and a venture capitalist with a $1.2 million budget looking for a home on the coast. He bought a home in Bay Ho for $735,000.

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San Diego home price increases, once again, among highest in U.S.

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San Diego had the fourth highest price gains in the nation in November, said a key real estate index released Tuesday.

The region’s home prices rose 7.4 percent in a year, said the S&P CoreLogic Case-Shiller Indices. Only Seattle, Las Vegas and San Francisco had bigger increases in the 20-city index.

San Diego had been in the top three cities for increases since August, representing a substantial rise in prices in 2017.

Price increases are rising throughout the nation, overall rising three times faster than the rate of inflation, as experts point to a lack of supply as the main factor.

“Since we have such historically low inventory, that has really caused prices to go up,” said Cheryl Young, senior economist at Trulia. “(At the same time) wages are growing, job growth is pretty strong and mortgage interest rates are very low.”

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Southern California median home price breaks record set last decade

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The Southern California median home price in December finally surpassed bubble-era highs, a milestone that took more than a decade to achieve and is once again raising concerns that housing is too costly.

The six-county region's median price surged 8.2% from a year earlier to $507,500, real estate data firm CoreLogic said Wednesday. That tops the bubble-era high of $505,000 in 2007, which was matched in September and November.

Adjusted for inflation, the region's median is still nearly 13% below the 2007 peak, and there are other caveats as well. But the new nominal record is noteworthy as a historical marker and because more borrowers who were underwater probably are no longer.

"It goes to show you just how outrageous the last bubble was — for us to take 10 years to get back to that nominal level," said Christopher Thornberg, founding partner of Beacon Economics.

In none of the six counties, though, did the median — the point at which half the homes sold for more and half for less — reach a new nominal high. The record for Los Angeles County was reached last summer when it hit $575,000 and has dipped $5,000 since then.

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San Diego home median reaches $540K, second highest of the year

The San Diego County housing market is positioned to finish 2017 with near-record prices. The county median home price has increased 9.1 percent in a year. November’s median price of $540,000 was the second-highest of the year. Real estate agents say buyers are paying more as inventory stays low.

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