Luxury Real Estate San Diego & La Jolla, CA
Thursday, January 28, 2010
Wednesday, January 20, 2010
The Power of a Tax Credit Near Expiration
The Power of a Tax Credit Near Expiration
$8,000 is a powerful incentive for home buyers who are buying their first home, especially when half of the homes in the country are trading at below $172,000. Visit www.TheLaJollaLife.com for more info
However, we are also a nation of procrastinators, so the tax credit is really only effective as it nears expiration. We saw this with the new home tax credit in California last Spring and we saw it with the national tax credit last Fall. Note the spike in existing home sales in October and November in the chart below. The existing home data is actually closing data, so most of these contracts were entered into in August September.
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I see a large "W" shaped sales volume curve forming, with a huge decline when the December and January data is released, and a potentially even larger spike in May and June, with the new tax credit available to all buyers instead of just entry-level buyers.
Source_ John Burns Real Estate Consulting
Monday, January 18, 2010
Chargers Disappoint again
Painful, yet again. Our hometown of San Diego still remains the ONLY city left in the entire country with two major sports teams and no championship. That’s right… ONLY city. As much as I love the Chargers…I hate them too. After the last time we lost to the Jets in the playoffs in 2004-05, I have found a way to deal with the unfulfilled promises…take the point spread so you can root for them to win, but ease the disappointment with a couple dollar bills. Call me what you will, but all charger fans should try this until the Chargers sack up…it helps the pain.
Friday, January 15, 2010
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