The Pacific Southwest Association of REALTORS® Nominating Committee and the Board of Directors respectfully submit the following nominees for the 2024/2025 Officers and Directors Annual Election.

President-Elect

Secretary / Treasurer

Sam Calvano

Directors (5 Two-Year Seats)

Camille Bruno	Robert Cromer	Charmaine Orcino - Gonzales
Paula Gonzalez	Jim Long	Norma Scantlin
	Tristin Stokes

If you are a qualified member interested in filing a petition to campaign as a candidate,
please complete and submit the Board of Directors Petition Form to the Association no later than
Friday, June 2nd, 2023 by 5:00 pm.

Note, Petitioned Candidates will interview with the Nominating Committee between
Monday, June 5th, and Wednesday, June 7th, 2023.

The full list of candidates will be announced Friday, June 9th, 2023.
Online Elections will begin Friday, June 23rd, and continue through Friday, June 30th, 2023.

A surge in mortgage interest rates and a shortage of homes for sale is suppressing the California housing market, according to the April 2023 home sales and price report from the California Association of REALTORS® (C.A.R.).

For April 2023 in San Diego, home sales were lower and home prices were higher in month-over-month comparisons between April 2023 and March 2023.

Sales of existing, single-family homes in San Diego County decreased in April 2023 by 8.2 percent in a month-over-month comparison with March 2023, and 36.9 percent in a year-over-year comparison with April 2022.

April 2023 County Sales and Price Activity
(Regional and condo sales data not seasonally adjusted)

Meanwhile, the median sales price for an existing, single-family detached home in San Diego County increased in April 2023 to $930,000, compared to $915,000 in March 2023, a 1.6 percent difference. In a year-over-year comparison, the median price was $975,000 in April 2022, a 4.6 percent difference.

Statewide, the sales pace for existing, single-family homes was down 4.7 percent in April 2023, compared to March 2023, and down 36.1 percent from April 2022.

Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 267,880 in April 2023, according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide. The statewide annualized sales figure represents what would be the total number of homes sold during 2023 if sales maintained the April pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales.

April’s sales pace of 267,880 homes sold in April 2023 was down from 281,050 homes sold in March 2023 and down from a year ago in April 2022, when a revised 418,970 homes were sold on an annualized basis.

Sales of existing single-family homes in California remained below the 300,000-unit level for the seventh consecutive month.

Year-to-date statewide home sales were down 37.4 percent in April 2023.

Also statewide, the median home price in April 2023 increased by 3.0 percent to $815, 340, compared to $791,490 in March 2023.

It was the first time in six months, since October 2022, that California’s median home price surprised the $800,000 level.

Despite the price improvement since early this year, April’s median price was lower on a year-over-year basis for the sixth consecutive month, declining 7.8 percent from the revised $884,680 recorded a year ago in April 2022. 

The sizable drop in median price from last year was due partly to the strong price surge in early 2022 when homebuyers rushed into the market to take advantage of low rates before the Federal Reserve began aggressively raising rates.

“While home sales declined in April, the market is getting more competitive as we’re seeing time on the market before selling down to 20 days in April from 33 days in January and the share of homes sold above asking price double from one in five at the beginning of the year to more than two in five in April,” said C.A.R. President Jennifer Branchini, a Bay Area REALTOR®. “This increase in market competition continued to provide support to the statewide median home price in April, which climbed above $800,000 for the first time in six months.”

“Home sales remained soft as the lock-in effect continued to tighten housing supply and keep would-be sellers from listing their homes for sale, which contributed to a 30 percent year-over-year drop in new statewide active listings, the largest drop since May 2020 when the pandemic shutdown took place,” said C.A.R. Senior Vice President and Chief Economist Jordan Levine. “A surge in borrowing costs as mortgage rates surpassed 7% in late February and early March also contributed to the market weakness, as many transactions that opened in those two months were closed in April.”

Looking ahead, C.A.R. has revised its 2023 Housing Market Forecast and projects existing single-family home sales to reach 279,900 units in 2023, a decline of 18.2 percent from the 342,000 units sold in 2022. While home prices in general are expected to improve in the second half of the year, the California median home price is projected to decrease 5.6 percent to $776,600 in 2023, down from the annual median price of $822,300 recorded in 2022. C.A.R. also expects the 30-year fixed mortgage interest rate will average 6.3 percent for the year.

Other key points from C.A.R.’s April 2023 resale housing report include:

-- At the regional level, all major regions recorded year-over-year sales declines in April 2023. Southern California declined 37.4 percent from April 2022.

-- At the regional level, median home prices dropped from a year ago in all major regions. Southern California home prices declined by 6.2 percent in April 2023.

-- Housing inventory in California bounced back after dipping month-over-month for two straight months. The statewide unsold inventory index in April 2023 also increased from last year, jumping 38.9 percent on a year-over-year basis. The surge in the inventory continued primarily due to low housing demand as existing home sales remained below the 300,000 benchmark.

-- Housing inventory increased by at least 20 percent in all price ranges in April 2023, compared to April 2022. Homes priced at $1 million and higher gained the most in unsold inventory with a 64.7 percent increase, followed by the $500,000-$749,000 price range (33.3 percent), the $750,000-$999,000 price range (21.1 percent), and the sub-$500,000 price range (26.3 percent).

April 2023 County Unsold Inventory and Days on Market
(Regional and condo sales data not seasonally adjusted)

-- The statewide unsold inventory index on a monthly basis increased to 2.5 months in April 2023, compared to 2.2 months in March 2023 and 1.8 months in April 2022.

-- In San Diego, in April 2023, the inventory of available homes for sale was 1.9 months, compared to 1.7 months in March 2023, 2.3 months in February 2023, 2.7 months in January 2023, and 1.6 months in April 2022. Inventory levels indicate the number of months it would take for the available supply of homes on the market to sell out given the current rate of sales.

-- The median number of days it took to sell a California single-family home was 20 days in April 2023, 24 days in March 2023, and 11 days in April 2022.

-- In San Diego, the median number of days it took to sell an existing, single-family home was 12 days in April 2023, compared to 15 days in March 2023 and eight days in April 2022. Other median-time-on-the-market figures in San Diego in 2023 include 17 days in February and 26 days in January. The median represents a time when half the homes sell above it and half below it.

The statewide, sales-price-to-list-price ratio was at 100 percent in April 2023, compared to 99.1 percent in March 2023, 97.7 percent in February 2023 and 96.5 percent in January 2023. A year ago, in April 2022, the ratio was 104.2 percent. The sales-to-list-price ratio is an indicator that reflects the negotiation power of home buyers and home sellers under current market conditions. The ratio is calculated by dividing the final sales price of a property by its last list price and is expressed as a percentage. A sales-to-list ratio with 100 percent or above suggests that the property sold for more than the list price, and a ratio below 100 percent indicates that the price sold below the asking price.

-- The 30-year, fixed-mortgage interest rate averaged 6.34 percent in April, up from 4.98 percent in April 2022, according to Freddie Mac.

PSAR broker Patti McKelvey has authored a book in which she reflects on her 50 years in real estate.

Titled, “Real Estate Magic: How a Real Estate Rock Star Helped 6,000 Families Attain the American Dream,” McKelvey’s 171-page, self-published book is priced at $15 on Amazon.

Patti considers the book as her memoir. It includes stories about her childhood in South Dakota, her career as owner and operator of a children’s furniture retail store prior to real estate, and her record-setting success in real estate sales.

"The title came from my clients who would say to me when a real estate deal hit a difficult point, `Patti, do your magic,’” she said.

“Hopefully, the readers, including other agents and entrepreneurs, will find something motivating and encouraging in the book. It’s about my journey through business and real estate. I’m an example of not doing things the normal, scripted way. On the contrary, my journey has been far from ordinary.”

According to the book’s description on Amazon, “Her total is north of 6,000 units, which to Patti means helping all those individuals and families attain the American Dream. 

The book includes several real estate client success stories as well as mentions her longtime support of St. Pius X Roman Catholic Church on Cuyamaca Avenue in Chula Vista. At the church, Patti serves as a Eucharistic minister and regularly attends 7 a.m. Mass on Sundays and daily Mass most mornings. Patti also has supported a number of charitable organizations, including South Bay Family YMCA, American Heart Association, Rady Children’s Hospital, National Latino Peace Officers Association, and the Las Primeras Group, a philanthropic organization.

In Patti’s book is her description of her strong beliefs in ethics, honesty, and personal relationships.

“I believe in a strong work ethic, honesty, integrity, and consistency and I admire great role models of ethics, such as John Wooden, and the founders of Hobby Lobby and Chick-fil-A,” Patti said. “I also believe strongly in building enduring relationships. My friendship with clients does not end at the close of escrow. It continues long after.

“I love calls from clients asking for recommendations on home repair and professional services. I want to do the best job for my clients because that’s my job. I want to make a difference in helping people get their new homes. I want to meet and exceed the wishes of my clients. In some cases, I have represented clients who were children years ago when I worked with their parents and now they’re grown up.”

On occasion, Patti said she might provide a copy of her book to new clients so they can learn more about her. “But, I’ll probably do a lousy job at promoting the book. I would rather work in real estate than post something on social media about my book.”

Patti grew up in Lestervillle, South Dakota, population of 115. “My mother and father ran the town’s restaurant, so I was around customers all the time,” Patti said, “I grew up thinking about customer service.”

Patti earned a Bachelor’s degree in business and English from Southern State University in South Dakota. She married Bill McKelvey and later they moved to Southern California, where  Patti started designing children’s furniture while  Bill worked for the Drug Enforcement Administration (DEA). After moving to San Diego in 1976, Patti continued working in the furniture industry and operated a retail store, which she sold in 1987.

 “I loved painting and designing children’s furniture,” Patti said. “Even back then, it was difficult to run a small business in California. Too many rules and regulations. So, I sold the business after many years, went to work on my Master's degree, and got my real estate license.”

Patti has been a top producer since beginning her real estate career in 1987. She has been ranked in the top 1 percent of real estate professionals in America in listings, sales, and dollar volume. She was the #1 agent for sales in San Diego County in 2013, 2014, and 2015, selling the most units of any agent in the entire county. She was the top-producing agent in both sales and listings for 29 consecutive years at her previous brokerage of McMillin Realty, which was acquired in 2016.

In 2017, Patti and Jeff McKelvey, a mother-and-son real estate sales team, joined Coldwell Banker West (CBW). Since 2017, they have been ranked as CBW’s top-producing team every year. Patti says she owes much of her success to  Jeff, who has worked with her in real estate for nearly 30 years. The McKelvey team staff includes April Martin, Tyler Rowean, TJ Hughes, Chriselia Sandoval, Alex Medina, and Lauren Ortiz as transaction coordinators.

“I enjoy real estate because I love helping people realize their dreams of home ownership,” said Patti. “I want to meet and exceed the wishes of my clients. It never gets old seeing the joy of helping people live the American dream.” 

The McKelvey group (CalDRE #00956130) can be reached at (619) 271-8300, or patti@mckelveyrealty.com.

Check out this month's DRE Bulletin and gain awareness of the DRE's priorities this quarter.  Below are highlights. Download the PDF for the full update. Take a look at the California DRE Spring Bulletin here

• Update from Commissioner Douglas McCauley:  DRE prioritizes equity, fraud, and consumer communication campaign to assist first-time buyers. It also emphasizes how to select an agent and understand mortgages.  
• Download the 2023 DRE Real Estate Law Book.
• Living in a Common Interest Development.
• Helping your client understand an architect's role.
• Broker Supervision: What is the broker's role?  Broker's obligation to supervise, assign supervisory authority, broker supervision in advertising, and ensure license requirements are met.
• Updated Rules for Discrimination as a Basis for Discipline.
• A look inside DRE’s complaint process: Filing a complaint, Complaint review, Formal investigation, and Clear and Convincing Evidence. 
• PG&E warns of an emerging scam initiative
• The important role of Enforcement in regulating California’s Real Estate industry
• Los Angeles County launches Property Owner e-Notification Alert (San Diego Launched Owner Alert last year).

Douglas R. McCauley

Real Estate Commissioner
Department of Real Estate

For the first time in seven months, median home prices in California in March 2023 recorded a healthy increase on a month-to-month basis while higher interest rates held home sales essentially flat, according to the latest home sales and price report from the California Association of REALTORS® (C.A.R.).

In San Diego, both home sales and home prices were higher in month-over-month comparisons between March 2023 and February 2023.

Existing, single-family home sales in San Diego County increased in March 2023 by 34.9 percent in a month-over-month comparison with February 2023. However, in a year-over-year comparison between March 2023 and March 2022, home sales in San Diego County decreased by 32.1 percent.

March 2023 County Sales and Price Activity
(Regional and condo sales data not seasonally adjusted)

Meanwhile, the median sales price for an existing, single-family detached home in San Diego County increased in March 2023 to $915,000, compared to $875,000 in February 2023, a 4.6 percent difference. In a year-over-year comparison, the median price was $950,000 in March 2022, a 3.7 percent difference.

Statewide, the March 2023 sales pace for existing, single-family homes was down 1.0 percent on a monthly basis from February 2023, and down 34.2 percent from March 2022.

Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 281,050 in March 2023, according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide. The statewide annualized sales figure represents what would be the total number of homes sold during 2023 if sales maintained the March pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales.

March’s sales pace of 281,050 homes sold was down slightly from 284,010 homes sold in February 2023 and down 34.2 percent from a year ago in March 2022, when a revised 427,040 homes were sold on an annualized basis. Sales of existing single-family homes in California remained below the 300,000-unit pace for the sixth consecutive month.

Year-to-date statewide home sales were down 37.8 percent in March 2023.

Also statewide, the median home price in March 2023 increased by 7.6 percent to $791,490, compared to $735,480 in February 2023. The March 2023 median price was 7 percent lower than the $851,130 price posted in March 2022. The statewide median home price in Mach was lower on a year-over-year basis for the fifth consecutive month. The median is the price at which half of the homes sell for more and half for less.

With home prices rising more sharply than the normal seasonal pattern last year, the market could see larger year-over-year price drops as it moves through the spring home-buying season.

“Despite a dip in March home sales, the competitiveness in the housing market continues to heat up, as homes are selling faster, and the sales-to-list-price ratio is improving, all the while when the number of homes available for sale continues to tighten,” said C.A.R. President Jennifer Branchini, a Bay Area REALTOR®. “All signs point to a market with solid demand, which should help bolster sales through the homebuying season.”

“While home sales continue to hover below the 300,000-unit annualized pace, the market seems to have weathered more aggressive rate hikes and banking failures quite well in the last few weeks,” said C.A.R. Vice President and Chief Economist Jordan Levine. “If interest rates stabilize or even improve in the next couple of months, home sales should rise during the spring home-buying season, but tight inventory will prevent a rapid rebound.”

Other key points from C.A.R.’s March 2023 resale housing report include:

-- At the regional level, all major regions recorded year-over-year sales declines. Southern California declined 33.8 percent from March 2022. Extreme weather conditions had a negative impact on the housing market, which contributed to sharp sales declines in some counties.

-- At the regional level, median home prices dropped from a year ago in all major regions. Southern California home prices declined by 4 percent in March 2023.

March 2023 County Unsold Inventory and Days on Market
(Regional and condo sales data not seasonally adjusted)

-- Housing inventory in California slipped on a monthly basis for the second straight month from 3.2 months in February 2023 to 2.2 months in March 2023, the lowest level since May 2022. The unsold inventory in March 2022 was 1.6 months.

-- In San Diego, in March 2023, the inventory of available homes for sale was 1.7 months, compared to 2.3 months in February 2023, 2.7 months in January 2023, and 1.4 months in March 2022. Other inventory figures in San Diego during 2022 include 2.2 months in December 2022, 2.9 months in November 2022, 3.0 months in October, 2.7 months in September, 2.5 months in August, 3.1 months in July, 2.4 months in June, 1.9 months in May, 1.6 months in April and 1.4 months in March. Inventory levels indicate the number of months it would take for the available supply of homes on the market to sell-out given the current rate of sales.

-- Home prices were higher in March 2023 in all price ranges compared to a year ago in March 2022. In March 2023, homes priced at $1 million or higher gained the most in unsold inventory (50 percent), followed by the $749,000-$500,000 price range (25 percent), $750,000-$999,000 price range (23.5 percent) and sub-$500,000 price range (16.7 percent).

-- Active listings in March 2023 continued to surge. Despite the increase in overall active listings, housing inventory is much tighter than what the yearly growth suggests. While new active listings added in March 2023 improved by 27.9 percent on a month-to-month basis from February 2023, the figure also declined 30 percent in a year-over-year comparison with March 2022. The drop in new active listings, was the largest dip since May 2020 when the pandemic shutdown took place.

-- The median number of days it took to sell a California single-family home was 19 days in March 2023, 17 days in February 2023 and eight days in March 2022.

-- In San Diego, the median number of days it took to sell an existing, single-family home was 12 days in March 2023, compared to 17 days in February 2023, 26 days in January 2023 and seven days in March 2022. Other median-time-on-the-market figures in San Diego during 2022 was 20 days in December, 18 days in both November and October, 19 days in September, 15 days in August, 10 days in July, eight days in June and seven days in May and April. The median represents a time when half the homes sell above it and half below it.in san 

-- Once again, the statewide, sales-price-to-list-price ratio remained at below 100 percent in March 2023 at 99.1 percent, compared to 97.7 percent in February 2023 and 96.5 percent in January 2023. A year ago, in March 2023, the ratio was 103.9 percent. Other statewide ratio percentage figures during 2022 include 96.2 percent in December, 96.7 percent in November, 97.3 percent in October, 97.7 percent in September and 98.4 percent in August. The sales-to-list-price ratio is an indicator that reflects the negotiation power of home buyers and home sellers under current market conditions. The ratio is calculated by dividing the final sales price of a property by its last list price and is expressed as a percentage. A sales-to-list ratio with 100 percent or above suggests that the property sold for more than the list price, and a ratio below 100 percent indicates that the price sold below the asking price.

-- The 30-year, fixed-mortgage interest rate averaged 6.54 percent in March, up from 4.17 percent in March 2022, according to Freddie Mac.

What are live buyer tours?
If you use Cloud CMA, then you’re likely already familiar with buyer tours, the reports that build on MLS data to give your buyer clients a better sense of what they’re looking at. In fact, buyer tours have become one of the most popular types of reports in Cloud CMA overall! 

Live buyer tours build on the existing functionality to turn static reports into dynamic ones—with real-time data that you and your buyers can easily read on any device. So you get a new way to show off properties, and your clients get live access to the most relevant information about their favorite listings. 

What can your clients see with live buyer tours? 

Their list of showings, organized by time 
Details like drive time and directions 
Feedback fields that share directly with their agent 
And more! 
 

Why the change? 
Home shopping and touring habits aren’t what they used to be.  Now, people have pocket computers with them constantly, so they can browse listings, request showings, get directions, whatever they need to do—all from the palm of their hands. 

Paper tours are outdated.  With live buyer tours, your clients have the technology on hand to interact with you and tour property more seamlessly. It’s a subtle contributor to their overall experience; they’ll appreciate the convenience and thoroughness of the information you provide. 

 
Here is how it works.

It was a night of celebrating “Real Estate” professionals for their “Achievements” and “Leadership.” It was PSAR’s 2023 R.E.A.L. Awards Gala (R.E.A.L. is an acronym for Real Estate, Achievements, and Leadership). The R.E.A.L. Awards honored PSAR’s top-producing agents and brokers who achieved excellence based on units closed or volume production as compared to all other agents based out of San Diego County, according to 2022 CRMLS data.

The gala was held Friday, March 17 at Sycuan Casino and Resort’s Heritage Events Center. More than 450 PSAR members attended the event which featured cocktails, dinner, dancing, and the presentation of awards to individuals to recognize their industry leadership and success. 

2023 PSAR President Jason Lopez and 2024 PSAR President Laurie Ohnesorgen-MacDonald served as emcees. The national anthem was sung by Katriz Trinidad.

Richard D’Ascoli, PSAR CEO, outlined how this celebration event aligns with PSAR's Mission to Empower Real Estate Professionals, he also introduced elected officials in attendance and industry leaders.

Elected officials: Brian Jones, California State Senator; Jordan Marks, San Diego County Assessor-Recorder-County Clerk; Ditas Yamane, City Council Member, City of National City,

Industry Leaders: Chris Hasvold, board chair of California Regional Multiple Listing Service (CRMLS).

PSAR members serving as California Association of REALTORS® (C.A.R.) directors. They included Ditas Yamane, Max Zaker, Jason Lopez, Lupe Soto, Laurie Ohnesorgen-MacDonald, Yvonne Cromer, Nikki Coppa, Jeff Campbell, Jan Farley, and Robert Cromer.

PSAR member Anthony Andaya, serving as a director with the National Association of REALTORS® (NAR).

2023 PSAR board of directors: Max Zaker (Immediate Past President), 2023 PSAR President Jason Lopez, 2024 PSAR President Laurie Ohnesorgen-MacDonald, Sam Calvano (2023 secretary-treasurer), Anthony Andaya, Merrie Espina, Camille Bruno, Valerie Gardner, Paula Gonzalez, Dylan Graham, Amy Ruiz, Amber Tannehill, Rafael Perez, Norma Scantlin, and Martha Garcia.

Past PSAR presidents: Pat Russiano, Nikki Coppa, Peter Mendiola, Jeff Campbell, Bob Olivieri, Carey Guthrie, Jan Farley, Robert Cromer, Ditas Yamane, and Max Zaker.

Following the introductions, Senator Brian Jones delivered the invocation and presented a proclamation to 2022 PSAR President Max Zaker.

Also recognized were contributors to the REALTOR® Action Fund (RAF). RAF advances the goals of the REALTOR® Party. It promotes and advocates for the rights and values of REALTORS®. Every dollar of this fund is used to protect the interests of REALTORS® in government.

Qualifications for a R.E.A.L. Award included the following categories (number of PSAR members who achieved the particular production levels appears in parenthesis):

-- Top 1%, at least 27 sides or $31,779,040 in volume (59); View recipients

-- Top 3%, at least 17 sides or $18,483,537 in volume (83); View recipients

-- Top 5%, at least 13 sides or $13,329,500 in volume (70); View recipients

-- Top 10%, at least 8 sides or $8,075,500 in volume (235). View recipients

All top achievers attending the REAL awards were recognized.
 
Last year's recipients of Affiliate, Broker/Office Managers, and REALTOR of the Year were called to the stage.  They included Andrea Martino, Mauricio Perez-Vazquez, Bob Olivieri, Jeff Campbell, Amber Tannehill and Charmaine Orcino-Gonzales.

Also at the gala, four PSAR members were presented with Professional of the Year awards. They included: Ditas Yamane, Broker of the Year; Steven Sladek, Realtor of the Year; Michelle Hickin, Affiliate of the Year; Nikki Coppa, Distinguished Realtor Award.

The R.E.A.L. Awards Committee included Charmaine Orcino-Gonzales, committee chair, as well as 2023 PSAR President Jason Lopez, 2024 PSAR President Laurie Ohnesorgen-MacDonald, Yvonne Cromer, Zoe Khetani, Martha Garcia, Amber Tannehill, Valerie Gardner, Vicki Lisama, Richard D’Ascoli, Sally Valdez and Kevin McElroy.

The major sponsors of the night included Caliber Home Loans, The Phana Par Group, and the California Regional Multiple Listing Service.

Additional sponsors included: Aftermath Exterminating - Gillz Building Services, Inc. - PSAR YPN - Preferred Inspections - Mac Printing - Big Block Realty - Property ID - South Shore Appraisals - Navy Federal Credit Union - SD Realty Gals - Sam Calvano Home Loans - NixTermite - Old Republic Home Protection - Gardner Insurance Services - San Diego Estates - RanchoTed Hard Money Lending - Edward Jones - Farmers Insurance - Metro South RE Producers - Morrison Inspections - Fidelity National Home Warranty - Ooh La Lash & Beaut - Insight Photos and Elizabeth Ireland Photography.

________ PHOTOS FROM THE 2023 EVENT ________

       a

______________________________________

Long-time PSAR member & REALTOR® Enrique Adriano Toledo, age 59, of Chula Vista, California, passed away on Monday, March 13, 2023. Enrique was born in Cavite, Central Luzon, Philippines.  Ricky was active at PSAR's Pitch Sessions.  Ricky worked at a number of South County Brokerages and most recently worked at Coldwell Banker West and then Better Homes and Gardens Real Estate Clarity.

REALTOR® Zenaida Sewell appreciates the mentorship Ricky provided her.  "He was very kind, always has a great smile, and was always willing to help. He loves what he does which was helping people."   

PSAR Board member Merrie Espina knew Ricky for over 20 years.  "He was a community volunteer and gave back to make a difference to several organizations."   

PSAR Member Robert Stanfill said "Ricky was a very close friend and colleague.  With his great sense of humor and creativity, it was always fun and interesting to spend time with him outside of work.  I could always depend on him if I needed help.  Working with him on transactions he was always one hundred percent vested in his clients.  They were like family to him and ended up clients and friends for the long term."

PSAR member and Ricky's long-time friend Jay Norris said "Ricky always maintained good spirits even though his body was breaking down for at least the last 20 years. He had a kidney transplant 17 years ago and constantly was striving to get his health back. Ricky was someone I could always talk to when I had something I needed to sort out in my life, career, or just about anything. He was a very good friend. He’ll be missed by many and I know I’ll miss him very much"

Join family, friends, and colleagues at two events at Glen Abbey Memorial Park and Mortuary, 3838 Bonita Road, Bonita, CA 91902. A visitation at the Magnolia  Room for Enrique will be held on the following dates.  Please let the family know that you will attend here. 

Wednesday, April 5, 2023, from 5:00 PM to 9:00 PM.

The following day, a funeral service at the Chapel of the Roses will occur
Thursday, April 6, 2023, from 4:00 PM to 5:00 PM.

Friend, Annabel Walden has set up a GoFundMe page to help the family with the financial burden of the funeral cost and memorial services here.

Please comment below with memories that you may have.

(pictured Alfonso Delgadillo, Sergio Palomino and Ricky Toledo)

The lowest mortgage interest rates in five months helped boost California home sales for the third straight month in February 2023, even as home sales prices continue to slide lower, according to the latest home sales and price report from the California Association of REALTORS® (C.A.R.).

In San Diego, both home sales and home prices were higher in month-over-month comparisons between February and January 2023.

On a statewide basis, closed escrow sales of existing, single-family detached homes totaled a seasonally adjusted annualized rate of 284,010 in February 2023, according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide. The statewide annualized sales figure represents what would be the total number of homes sold during 2023 if sales maintained the February pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales.

The statewide sales pace in February 2023 was up 17.6 percent on a monthly basis from 241,520 in January 2023 but down 33.2 percent from a year ago in February 2022, when a revised 425,120 homes were sold on an annualized basis. 

Despite the third straight month of improvement, sales of existing single-family homes in February 2023 in California remained below the 300,000-unit pace for the fifth consecutive month.

Year-to-date statewide home sales were down 39.6 percent in February 2023.

California’s median home price retreated for the sixth straight month, declining 2.1 percent from the January 2023 median price of $751,330 to $735,480 in February 2023, the lowest price level in two years.

The February 2023 price also was lower on a year-over-year basis for the fourth consecutive month, declining 4.8 percent from the revised $772,180 recorded a year ago in February 2022. 

The statewide median price for a typical home has declined 18.3 percent from May 2022, when it reached its recent peak of $900,170. 

With home prices to remain soft throughout the rest of 2023, home shoppers can expect to see larger price drops moving through the spring home-buying season.

In San Diego, home sales increased month-over-month by 11.5 percent in February 2023, compared to January 2023. In a year-over-year comparison, between February 2023 and February 2022, home sales decreased by 32.6 percent.

February 2023 County Sales and Price Activity
(Regional and condo sales data not seasonally adjusted)

The San Diego median sales price for an existing, single-family detached home increased in February 2023 to $875,000, compared to $824,950, a 6.1 percent difference. In a year-over-year comparison, the median price was $888,000 in February 2022, a difference of 1.5 percent. The median is the price at which half of the homes sell for more and half for less. 

“A brief interest rate reprieve and softer home prices during January created a window of opportunity for homebuyers to dip their toes into the home-buying waters, which helped boost home sales to the highest level in five months,” said C.A.R. President Jennifer Branchini, a Bay Area REALTOR®. “A shift toward more home sales in the lower-price segments is expected to continue to further soften home prices. However, with the availability of homes remaining extremely tight and housing supply conditions not expected to improve any time soon, prices should find bottom later this year as interest rates stabilize.”

“The recent failure of a handful of tech-focused banks caused an unexpected drop in interest rates, which could offer an opportunity in the near term for homebuyers who have been waiting on the sidelines to lock in a lower rate,” said C.A.R. Vice President and Chief Economist Jordan Levine. “However, any decline in rates is not likely to be sustainable since inflation remains high, and the Federal Reserve is willing to take some calculated risks in order to keep inflation under control.”

Other key points from C.A.R.’s February 2023 resale housing report include:

-- At the regional level, all major regions recorded year-over-year sales declines. Southern California declined 33.8 percent.

-- At the regional level, median home prices dropped from a year ago in all major regions. Prices in Southern California declined by 2 percent.

-- Housing inventory in California slipped to its lowest level in four months. The statewide unsold inventory was 3.2 months in February 2023 and 2.0 months in February 2022, a difference of 60 percent. The unsold inventory in January 2023 was 3.6 months. 

-- In San Diego, in February, the inventory of available homes for sale was 2.3 months, compared to 2.7 months in January 2023 and 1.5 months in February 2022. Other inventory figures in San Diego in 2022 include 2.2 months in December 2022, 2.9 months in November 2022, 3.0 months in October, 2.7 months in September, 2.5 months in August, 3.1 months in July, 2.4 months in June, 1.9 months in May, 1.6 months in April and 1.4 months in March. Inventory levels indicate the number of months it would take for the available supply of homes on the market to sell out given the current rate of sales.

February 2023 County Unsold Inventory and Days on Market
(Regional and condo sales data not seasonally adjusted)

-- Unsold inventory in various home price ranges increased in February 2023 from a year ago by at least 30 percent or higher in the state. The sub-$500,000 range gained the most in unsold inventory (45.9 percent), followed by the $500,000-$750,000 range (42.3 percent), the $1 million and up (33.4 percent) and $750,000-$999,000 category (30.0 percent).

-- Weak housing demand continued to create carryover and elevate inventory on the surface, as 46 of the 51 counties tracked by C.A.R. registered an increase in active listings in February 2023 compared to February 2022.

 -- The median number of days it took to sell a California single-family home was 28 days in February, compared to 33 days in January 2023 and 9 days in February 2022. Other statewide inventory figures for 2022 include 28 days in December, 24 days in November, 23 days in October, 22 days in September, and 19 days in August.

In San Diego, the median number of days it took to sell an existing, single-family home was 17 days in February 2023, compared to 26 days in January 2023 and 7 days in February 2022. Other inventory figures for 2022 in San Diego were 20 days in December, 18 days in both November and October, 19 days in September, 15 days in August, 10 days in July, eight days in June, and seven days in May and April. The median represents a time when half the homes sell above it and half below it.

-- Once again, the statewide, sales-price-to-list-price ratio remained at below 100 percent in February 2023 at 97.7 percent, compared to 96.5 percent in January 2023. A year ago, in February 2022, the ratio was 102.6 percent. Other 2022 statewide ratio percentage figures include 96.2 percent in December, 96.7 percent in November, 97.3 percent in October, 97.7 percent in September and 98.4 percent in August. The sales-to-list-price ratio is an indicator that reflects the negotiation power of home buyers and home sellers under current market conditions. The ratio is calculated by dividing the final sales price of a property by its last list price and is expressed as a percentage. A sales-to-list ratio with 100 percent or above suggests that the property sold for more than the list price, and a ratio below 100 percent indicates that the price sold below the asking price.

-- The 30-year, fixed-mortgage interest rate averaged 6.26 percent in February 2023, up from 3.76 percent in February 2022, according to Freddie Mac.