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DRE #01743351

 

Elena Yu, Ph.D. | REALTOR® and Broker Associate |  Coldwell Banker Residential Brokerage 

 

Graduate Realtors Institute (GRI); Accredited Buyer Representative (ABR); Certified Negotiation Expert (CNE);  

Certified Distressed Properties Expert (CDPE); Certified HAFA Specialist and Short Sales and Foreclosure Resource (SFR)

Broker's Price Opinion Resource (BPOR); VApro and Military Relocation Professional (MRP) 

Certified Residential Specialist (CRS); Certified International Property Specialist (CIPS) 

 

E-mail:  Elena Yu  | Phone: 858-405-5175

 

4BR 2.5BA Detached Home in Carmel Valley
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Top-rated school district. Text me (858) 405-5175 to buy!


2017 California Housing Market
 
California was just named the 5th largest economy in the world and it has had a great year in 2016!
 
San Diego is one of the most preferred destinations in the world for business and leisure.  In fact, it is commonly rated in the top 10 for both business and leisure in the U.S. 
 
San Diego's heavenly climate is unbeatable and business opportunities are attracting smart talent, creative entrepreneurs, and sharp investors from around the world.
 
Forbes published their top cities for startups report and they chose San Diego as the best place to launch a new business.
 
San Diego has 4 key industries including maritime/naval, healthcare, tourism and research.  
 
From 2016 to 2020, San Diego's population is expected to grow by about 180,000.  
 
The professional services sector will see the strongest job growth.  More than 20,000 new jobs anticipated.
 
Fewer homes are available for sale than in prior years.  Home for sale are in escrow quickly, and the real estate is a fast-moving one.
 
UTC near UCSD is a hot sub-market. New homes are still available for purchase in Carmel Valley.
 
This is a good time to get into action.  Whether you are thinking of selling, buying, or renting out your place, I can help!
 
Source of some of the stats above: http://www.gordcollins.com/real-estate/san-diego-economy-and-forecast-2016-to-2020/
  

Who are the Millennials?


The millennials are the generation of Americans born in the early 1980s and the beginning of the new millennium.  they represent a "mixed" group of Generation Y (born 1977-1995) and General Z (born 1995-present).  The oldest member of this cohort came of age and finished high school in this millennium.  The saw first hand the boom and bust of the real estate market.  They are the most educated generation of Americans, with more than 34% holding a college degree.   They are the most culturally and ethnically diverse as well as the most technologically advanced generation--growing up with internet, cell phones, and laptops.  Technology is baked into their DNA.  But the recession hit them hard when they went out to look for jobs.  As a group, they are trendy and environmentally conscious.  They carry back packs and some ride a bike to work.  They are confident, connected and open to change.  

If you are thinking of selling your home soon,  please be aware of the market trends.  The sooner you put your house on the market, the better off you may be because the price increase we have exprienced in the past two years is flattening out.  I have put many buyers, including millennials, into homes they love.  I know how to market to this generation of buyers, because I know what they want and don't want to see in a home.  Selling a house nowadays is not just about pricing and technology anymore.  It is knowing who your buyers are likely to be and creating the opportunities for your home to be seen and valued by these potential buyers.  Start planning early!  Contact me either by phone, text or by e-mail.  I can save you thousands of dollars and reduce the stress of selling your home.  

If you thinking of buying,  please be aware of the market trends showing how fast rents are projected to increase compared to home prices.  Your superior skills in using modern technologies will be an asset, but you will need objective advice and honest guidance that money can't buy.  I can give you ethical guidance, identify homes that have true values, and help you resolve the challenges you may face in buying a home.  Please be aware that an estimated 60% of escrows do not close on time.  Of this 60%, half do not close at all.  That means the buyers put their earnest deposit down, got a loan pre-approval, but ended up not being able to buy the house they wanted to buy.  Not all realtors are alike in their educational background, negotiation skills and working styles.  My buyers are culturally, ethnically and linguistically diverse.  They all come by word-of-mouth referrals from other satisfied buyers, not from internet reviews.  Please feel free to contact me by text or e-mail, so that we can set up an appointment to meet in my office and discuss your needs.  Our meeting will save you lots of time and thousands of dollars.  


Priced out?  San Diego Home Prices Creeped Up

San Diego County home prices rose 6.6 percent in the year ended in September, said the S&P/Case-Shiller Home Price Index released Nov 24th, 2015.  

Home prices locally exceeded the September-to-September national average increase of 4.9 percent. San Diego home prices showed a 6 percent increase year-over-year in August. 

The fastest growing home prices in the index’s 20-city composite were in San Francisco (11.2 percent), Denver (10.9 percent) and Portland (10.1 percent). San Diego’s rise was around the same pace as Los Angeles, Tampa and Atlanta.  Chicago home prices grew the least year-over-year, at 1.1 percent. Other slow rising-cities were Washington, D.C., New York City and Cleveland.

 University of San Diego economist Alan Gin said the county has seen a slowdown in the market because the local population is priced out.  All other indicators that should boost home prices — a reduction in distressed properties, very low housing supply, job growth and low interest rates — are up.  “There’s a limit to how high prices can go,” he said.

The countywide median home price was $456,760 in October, real estate data firm Corelogic said. Based on median earnings and ability to qualify for a mortgage, only 25 percent of homes in San Diego are considered within financial reach of residents, said the California Association of Realtors’ latest affordability study.

Source: San Diego Union Report, reported by Phillip Molnar

Prospective buyers should know that it's a misperception that a 20 percent down payment is always required to buy a home.  There are numerous programs available that allow consumers to buy a home with less down payment--as little as 3.5 percent.   I have trustworthy lenders that can assess your financial situation to determine if you are eligible for low downpayment loans.  If buyers have 20% down and are looking for low interest rate (as low as 2.875%), please contact me by e-mail.  I do know a respectable and reputable lender that offer such a very attractive program. Thank you.


This website is intended to be educational.  What would you like to know?
 

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Elena Yu, Ph.D., is a proud member of the following organizations

The National Association of Realtors

The California Association of Realtors

The San Diego Association of Realtors

The New York Academy of Science 

The San Diego Chinese American Scientists and Engineers' Association

The Chinese Historical Museum in San Diego