CHULA VISTA ORDINANCE WOULD MAKE THE HOUSING CRISIS WORSE

Posted by Communications on May 16, 2022 1:00:00 PM

There is a critical shortage of housing inventory. An excessive amount of red tape helped cause that shortage. Now, the City of Chula Vista is considering additional regulations on Housing Providers.

The proposed "Residential Landlord and Tenant Provisions" will impose the following:

  • Regulations that make substantial remodels, owner move-ins, and withdrawal from the rental market more difficult by adding stricter noticing requirements and relocation assistance requirements.
  • The creation of laws that allows for civil action and damages of $1,000-5,000 per violation per day.
  • The criminalization of any violation of the ordinance and the creation of fines in the thousands of dollars.

Mayor Mary Salas requested the creation of this ordinance in response to calls from tenant and rent control advocates. Unfortunately, the unintended consequences of this ordinance would end up harming tenants as well.

The unintended consequences of this ordinance will include the following:

  • The added difficulties of being a housing provider in Chula Vista will discourage the creation of much needed additional housing. This will hurt all of us, including those who would have a much harder time finding a place to rent. 
  • The added difficulties of undertaking substantial renovations would deter owners from upgrading unsightly buildings. This hurts the tenants who would live there and the livability of the surrounding communities. 
  • Provisions in the ordinance meant to prevent harassment of tenants would actually deter property owners from dealing with tenants who cause nuisances. This would hurt the tenants and all neighbors who live nearby and would have to deal with the nuisances.


It is well established that when you add regulation to something, you get less of it. We need more housing, not less. The State of California has recently enacted protections for tenants by enacting AB 1482. If there are problems for tenants, the City could focus on finding better ways to enforce existing laws, rather than adding more regulations that will negatively impact our already scarce housing supply.

Please send an eComment to the City stating your opposition to this misguided ordinance by clicking on the button below, and then clicking on the "Leave Comment" button:

TAKE ACTION

 

 

_______________________________________________________________________________

 

Not sure which Councilmember represents your neighborhood?  See below.

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Topics: Brokers/Managers, Government Affairs, Market Information, Industry

CRMLS: Public Remarks fields may no longer contain external links

Posted by Kevin McElroy on May 4, 2022 3:04:04 PM

Links to virtual showings, tours, and open houses are no longer exempt blog_220126_CRMLS_rules

Due to recent lifts to COVID restrictions in our service area, we have lifted the exceptions to CRMLS Rule 12.5 that we implemented in March 2020. These exceptions allowed listing agents and brokers to place links to virtual showings, virtual tours, and virtual open houses into public remarks fields.

CRMLS has returned to enforcing the original definition of the rule, which reads in part:

12.5 Misuse of Public Remarks.

Information in the public remarks shall only relate to the description, features, and condition of the property and related amenities. The following types of information may not be included in the public remarks:

  • Contact information of any kind;
  • Branded content;
  • Links to external websites of any kind, including but not limited to, agent or broker sites, video tours, virtual showing or open house tools, vendor sites, or offer submission/application/auction platforms;
  • Showing instructions or open house information;
  • Information regarding lockboxes, alarms, gate or other security codes, or occupancy status of the property (a statement that the property shall be delivered vacant is not a violation of this section);
  • Information deemed to create an unsafe or unsecure circumstance related to the listed property, property occupants, real estate practitioners, or the public;
  • Information directed toward agents or brokers, including but not limited to, references to compensation or bonuses;
  • Solicitations or invitations for the public to contact the listing agent or broker or any third parties affiliated with the listing agent or broker, and;
  • Content that violates Fair Housing law or that is deemed discriminatory, illegal, defamatory, offensive, or otherwise inappropriate. CRMLS reserves the right to remove and issue citations for any inappropriate content.

Violations to this rule may result in a citation and associated fine. Visit https://go.crmls.org/crmls-rules-and-regulations/ to read the full text of Rule 12.5. For further information or to chat with a Compliance Analyst, please contact us via the Compliance page on CRMLS.org.

 

Education

CRMLS offers a variety of resources to educate you on our products and services. Click above to visit the CRMLS training center.

Support

If you need MLS support, please click above or call (800) 925-1525 to be assisted.

Compliance

Your listing data is safe, clean, and accurate. Click above to chat live with a CRMLS Compliance representative.

 

Topics: Announcements, CRMLS, Paragon

City of San Diego’s ‘No-Fault Eviction' Moratorium.

Posted by Communications on Apr 13, 2022 4:44:00 PM

Questions remain about the City of San Diego’s pending ‘No-Fault Eviction' Moratorium.

On April 4th, after almost six hours of public testimony which included comments from PSAR volunteers and members, the city council passed the ‘No-Fault Eviction' Moratorium ordinance. The ordinance must come back for a second reading a month after the first reading and will go into effect 30 days after final approval.


Thanks to the efforts of PSAR and our colleagues, the original ordinance was amended to include an end date or sunset on September 30, 2022 (or 60 days after the end of the local emergency) whichever is sooner.  Realtors are wondering about how this ordinance will impact property owners who want to sell.

  • No termination of tenancy is allowed for a substantial remodel unless mandated by the government or court order.
  • Owners who wish to move into their homes or move in family members will have to serve a 90-day notice to terminate the tenancy. An immediate family member is limited to a parent, child, grandparent, and grandchild.

Property owners who wish to terminate a tenancy in order to withdraw units from the rental market, this includes selling a home, must provide a 6-month notice.

The ordinance is likely to receive final approval next month and it will cause unintended consequences. Additionally, some of the language is vague and confusing. Once the ordinance is finalized, PSAR will schedule legal counsel to brief our members on its impact. PSAR will continue to review the ordinance and is prepared to challenge it again at the second reading.

Before working with a client to terminate a tenancy, it is important to speak with your broker and legal counsel. This ordinance will put many owners in difficult positions.

A copy of the proposed ordinance may be found here.

This web page item #200 has links to the PowerPoint and backup information for a deeper dive.

San Diego-1

 

Topics: Brokers/Managers, Government Affairs, Market Information, Industry

MARCH MEDIAN HOME PRICE HITS $950K, A 1-YEAR JUMP OF $150K

Posted by Rick Griffin on Apr 12, 2022 10:00:00 AM

MARCH MEDIAN HOME PRICE HITS $950K, A 1-YEAR JUMP OF $150K

Housing demand in California remained strong in March 2022 as home sales ticked higher and the statewide median price set another all-time high, primarily due to a surge in sales of higher-priced homes. However, the effects of rising interest rates have yet to be borne out, according to the latest home sales and price report released on April 19 by the California Association of REALTORS® (C.A.R.).

The number of closed escrow sales of existing, single-family detached homes statewide on a seasonally adjusted annualized rate totaled 426,970 in March 2022, which was up 0.5 percent from the February 2022 total of 424,460, and down 4.4 percent from March 2021, when 446,410 homes were sold on an annualized basis.

March 2022’s statewide year-over-year sales decrease was the ninth straight decline and the smallest in eight months. Year-to-date statewide home sales were down 7.0 percent in March.

The statewide annualized sales figures, collected from more than 90 local REALTOR® associations and MLSs statewide, represent what would be the total number of homes sold during 2022 if sales maintained the March pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales.

In San Diego, home sales in March 2022 were higher in a month-over-month comparison and lower in a year-over-year comparison. San Diego home sales in March 2022 were up 34 percent, compared to February 2022, but were down 2.2 percent compared to March 2021.

March 2022 County Sales and Price Activity
(Regional and condo sales data not seasonally adjusted)
March 2022 County Sales and Price Activity

Meanwhile, the California median home price rose above the $800,000 benchmark for the first time in six months. California’s median home price reached a new record high in March 2022 at $849,080, surpassing the previous record of $827,940 set in August 2021.

The March 2022 price was 11.9 percent higher than the $758,990 posted in March 2021. The month-to-month percent change in median price was the highest pace since March 2013. The 10.1 percent month-to-month increase in March 2022 from the February 2022 price of $771,270 was the first time in nine years that the monthly price increase reached double-digits.

A surge in sales at the top end of the market was the primary factor for the jump in the statewide median price at the end of the 2022 first quarter. The share of million-dollar home sales increased for the second consecutive month, surging to 32.9 percent in March 2022, the highest level on record.

Additionally, strong month-to-month sales growth in the San Francisco Bay area contributed to the jump in sales of million-dollar homes statewide, as 70 percent of the region’s sales were priced above $1 million, and sales in the region increased 70.5 percent from February 2022. 

Home prices are expected to edge higher as the market continues in the spring homebuying season over the next few months.

In San Diego in March 2022, the median sales price for an existing, single-family detached home was $950,000, a 7.0 percent increase from the $888,000 price in February 2022. The March 2022 median price also was 18.8 percent higher than a year ago at $800,000 in March 2021, marking an increase of $150,000 in one year.

“With homes still selling at a rapid clip and more homes selling above asking price than last summer when prices were at record highs, California’s housing market continues to perform remarkably well as buyers enter the market to get ahead of rising mortgage interest rates,” said C.A.R. President Otto Catrina, a Bay Area real estate broker, and REALTOR®. “An increase in active listings for the first time since prior to the pandemic should give consumers more options and alleviate some of the upward pressure on home prices, which bodes well for prospective buyers.”

“March sales data continues to suggest strong buying interest and a solid housing market, as the effects of higher mortgage interest rates won’t be realized for a few more months,” said C.A.R. Vice President and Chief Economist Jordan Levine. “With the Federal Reserve expected to announce two back-to-back half-point interest rate hikes in May and June to combat inflation, interest rates will be elevated for the foreseeable future, adversely affecting housing demand and lowering housing affordability in the coming months, but the effects may not be visible until the second half of the year as many of the homes that are, or will be, the closing was negotiated before the sharp increase in rates.”

Other key points from C.A.R.’s March 2022 resale housing report include:

-- At the regional level, all major regions except the Central Valley recorded a decrease in sales on a year-over-year basis. The Central Coast region recorded the sharpest sales decline of all regions again, dropping 20.1 percent from a year ago. The Far North had the second-largest sales decline at 7.7 percent, followed by Southern California (-7.5 percent) and the San Francisco Bay Area (-2.7 percent). Sales in the Central Valley increased for the second straight month with a year-over-year increase of 2.8 percent.

-- Home prices in all major regions in the state continued to surge from last year by double-digits, with four of them reaching a new record high in March. The Central Coast region recorded the highest year-over-year price growth with a 20.4 percent increase, followed by the Central Valley (19.3 percent), the San Francisco Bay Area (17.9 percent), and Southern California (13.8 percent), and the Far North (12.9 percent).

-- At the county level, home prices continued to increase across the state, with 25 counties setting new record highs in March. Forty-six out of fifty-one counties tracked by C.A.R. experienced increases in their median prices in March, with 38 of them rising more than 10 percent from a year ago.

-- California’s unsold inventory of homes in March 2022 remained unchanged from a year ago at 1.7 months, marking the first time in nearly two years the index did not decline on a year-over-year basis.  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.

March 2022 County Unsold Inventory and Days on Market
(Regional and condo sales data not seasonally adjusted)
March 2022 County Unsold Inventory and Days on Market

-- In San Diego, the inventory of available homes for sales in March 2022 was 1.4 months, compared to 1.5 months in February 2022, January 2022, and March 2021. Inventory levels from previous months in 2021 included: December, 1.0; November, 1.3; October, 1.5; September, 1.6; August, 1.7; July, 1.7.

-- The median number of days it took to sell an existing, single-family home in San Diego County in March 2022 was 7 days, compared to 7 days in February 2022, 9 days in January 2022, and 6 days in March 2021. Numbers from previous months in 2021 included: December, 8; November, 9; October, 9; September, 9; August, 8; July, 7; June, 6; May, 7; April, 6. The median represents a time when half the homes sell above it and half below it.

-- Statewide, the median number of days it took to sell a California single-family home in March 2022 was 8 days, compared to 9 days in February 2022, 12 days in January 2022, and 8 days in March 2021. Numbers from previous months in 2021 included: December, 12; November, 11; October, 11; September, 10.

-- The statewide median sales-price-to-list-price ratio remained above 100 percent at 103.9 percent in March 2022, 102.6 percent in February 2022, and 102.2 percent in March 2021. Sales-to-list-price ratio is an indicator that reflects the negotiation power of home buyers and sellers under current market conditions. The ratio, expressed as a percentage, is calculated by dividing the final sales price of a property by its last list price. A sales-to-list ratio of 100 percent or above suggests that the property sold for more than the list price, while a ratio below 100 percent indicates that the price sold below the asking price.

-- The 30-year, fixed-mortgage interest rate averaged 4.17 percent in March, up from 3.08 percent in March 2021, according to Freddie Mac. The five-year, adjustable mortgage interest rate averaged 3.19 percent, compared to 2.78 percent in March 2021.

Topics: Brokers/Managers, Market Information

REGISTER TO VOTE: It’s the best thing you can do for your business.

Posted by Rick Griffin on Mar 18, 2022 3:30:43 PM

REGISTER TO VOTE

Real estate professionals need to exercise their right to vote in the upcoming election. Every vote counts!

80% of REALTORS® are registered to vote, but we can do better! Join the effort and become an active participant in the political process … REGISTER TO VOTE. 

Politicians are making decisions that affect your business. Make sure that your voice is heard before decisions are made in Washington, California, and in San Diego County.

When REALTORS® vote, elected officials notice. Registering to vote is easy, but you must act quickly! If you are not already registered to vote, you can download a registration form here - www.realtorsvote.org

_____________________________________

PSAR Government Affairs (GA) Committee members were recently asked about the importance of voting. Below are their comments (names appear in alphabetical order, some quotes were edited for clarity).

“Our committee is made up of Republicans, Democrats, Independents, and others. We research, conduct interviews, review questionnaires, and our decisions are primarily based upon the notion of property rights, expanding homeownership, rights of tenants, and the rights of owners of commercial and rental properties. We will endorse candidates whom we feel the best support these values over their opponents. It’s important to elect leaders who will work with REALTORS®. We all have our own choices of candidates, but we hope by supporting pro-real estate candidates and propositions, it might help influence voters who agree with us that property rights and the expansion of homeownership are essential to all Americans.” -- Mike Anderson (Lakeside)

“Democracy is vital to real estate. If people don't vote, then it’s the corporations and banks that set policy that affects your ability to buy a home. When you vote, you make your voice heard. Be a voice for our communities where we can work towards a country where everyone has the opportunity to be a homeowner.” -- Deirdre Bramberg (La Mesa)

“It is a civic duty to vote and every single vote makes a difference. As a citizen of the country, the right to vote is one of the freedoms the county gives its people. It is a chance for our voice to be heard and an opportunity to select the leaders we believe have the ability to represent us in our government.” -- Merrie Espina. (Chula Vista)

“Each PSAR member should exercise their right and obligation to vote. In this election, as in most elections, your future earnings, your tax obligations, and the laws that enable or hobble our industry are all in play. PSAR, C.A.R., and NAR can all be influential as supporting organizations, focusing on critical policy issues. But, in the final analysis, it is your individual vote and the power of our collective votes that will select our elected officials and establish the policies that impact our lives and our business environment for years to come.” -- William Hall (Chula Vista)

“Voting is how we convey our desires for change. Please exercise your right to vote with the goal of making a better today and tomorrow for us all.” -- Paul Moses (Chula Vista)

“I am involved in Government Affairs and I try to be as active as I can be in politics is because it does have an impact on our industry. One can be part of the problem or the solution. I can stand by and complain or I can do what I can do to act.  Rome was not built in a day, and as we all know California has its issues that have a direct impact on our business. Be impactful and relevant. It’s common sense, do nothing and one can only expect nothing. So, why not be relevant and do something.” -- Rebecca Pollack-Rude (El Cajon)

_______________________________

PSAR's Mission is to empower Real Estate Professionals

Since 1928, the Pacific Southwest Association of REALTORS® has played a significant role in shaping the history, growth & development of the Real Estate industry in San Diego County.

Topics: Announcements, Government Affairs

A big change to Sentrilock Key Cards is coming soon!

Posted by Kevin McElroy on Mar 16, 2022 10:00:00 AM

SentriLock Deprecates SentriCard

By March 30, 2022, SentriCard key cards will no longer open lockbox key compartments (unless you own the lockbox)!

The SentriKey phone application must be used by non-lockbox owners to open key compartments!

How do I open the key compartment?

If you own a lockbox, you will still be able to use your SentriCard to open the key compartment and/or release the shackle of your lockbox.  The SentriKey® phone app performs the same functions.

All others accessing a lockbox-- Showing agents, agents that use their broker’s lockboxes, team members, and assistants-- must use the SentriKey® app to open the key compartment using a Mobile Access Code sent by the app.

 

Showing in a remote area not using a Bluetooth® lockbox,

The SentriKey® Real Estate app can detect low or no cell coverage and a Mobile Access Code will be presented in the app. No card needed, no Bluetooth® needed!.

  1. From SKRE Home Screen > Select View Nearby Properties
  2. A message will pop up indicating that this feature is not available
    when offline. (If the lockbox uses Bluetooth, go to the home screen
    then press ENT on the lockbox.) If non-BLE, continue to step 3.
  3. Select Get Code
  4. Enter the Lockbox Serial Number
  5. Select Get Code
  6. Use Biometrics or PIN
  7. Your Access Code will display

 

How do I remove customization and borrowed lockboxes?

Lockboxes that are borrowed or customized require the lockbox owner’s SentriCard® to be inserted into the lockbox to release the shackle. This will set the lockbox back to its default settings and remove any customization.

 

Lockbox Sharing

Brokers sharing their Lockboxes will need to enable the ability for agents to view all lockboxes and access logs to generate one-day codes, release the shackle and assign lockboxes to listings. If this feature is disabled, an Office Staff or Broker office individual will need to assign the lockbox to an agent’s listing first in order to perform these functions.

 

How do I set the lockbox clock?

All lockboxes below an NXT Wireless (Blue Box) 24.34 version must use the lockbox owner’s SentriCard® to set the clock on a lockbox for the time to update.

 

How do I release the shackle?

Lockbox owners can use the SentriKey® app to generate a shackle release code, or owners can use their SentriCard® to release the shackle. If you are using a lockbox that is owned by another user, you will use the SentriKey® app to release the shackle by using a shackle code.

 

How do I recalibrate the lockbox?

With assistance from our Support department, the lockbox owner’s SentriCard® will be able to recalibrate the motor.

 

How do I customize a lockbox to another region?

By using the lockbox owner’s SentriCard®, the lockbox owner can customize a lockbox to a different region, enable/disable CBS, and enable/disable contractor mode for a non-BLE lockbox.

 


Questions?

Frequently Asked Questions May Be Found Here.

 

Or Email SentriLock at support@sentrilock.com

Call SentriLock: 513-618-5800

SentriLock-Logo-thumbnail-p4ssbnc9vybs202m3jscwh0kmxwqvp3xzco0p5swps

 

Topics: Education, YPN

HOUSING MARKET STILL SOLID DESPITE HIGHER RATES, RUSSIAN-NATO WAR

Posted by Rick Griffin on Mar 15, 2022 12:00:00 PM

Housing Market Still Solid Despite Higher Rates, Russian-NATO War

California’s housing market continued to maintain a solid sales pace in February 2022, despite higher interest rates and geopolitical uncertainty caused by the Russia-NATO conflict in Ukraine, according to the latest home sales and price report from the California Association of REALTORS® (C.A.R.).

The number of homes sold statewide in February was lower than last year’s unusually strong market. The number of closed escrow sales of existing, single-family detached homes statewide on a seasonally adjusted annualized rate totaled 424,640 in February 2022, which was down 4.5 percent from January 2022, when 444,540 homes were sold on an annualized basis, and down 8.2 percent from February 2021, when 462,720 homes were sold on an annualized basis.

The year-over-year sales decrease between February 2022 and February 2021 was the eighth straight decline and the smallest in seven months. Year-to-date statewide home sales were down 8.3 percent in February 2022.

The statewide annualized sales figure, collected from more than 90 local REALTOR® associations and MLSs statewide, represents what would be the total number of homes sold during 2022 if sales maintained the February pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales.

In San Diego, home sales in February 2022 were higher in a month-over-month comparison and lower in a year-over-year comparison. San Diego home sales in February 2022 were up 7.3 percent, compared to January 2022, but were down 5.6 percent lower compared to February 2021.

February 2022 County Sales and Price Activity
(Regional and condo sales data not seasonally adjusted)
February 2022 County Sales and Price Activity

Meanwhile, the California median home price was below the $800,000 benchmark for the fifth straight month, although home prices are continuing to increase from the prior year and pick up momentum.

The statewide median price inched up to $771,270 in February 2022, up 0.7 percent from $765,610 in January 2022, and up 10.3 percent from the $699,000 recorded in February 2021.

The stronger-than-expected growth in the statewide median price is attributed partly to a change in the mix of sales toward homes in the million-dollar price range, as sales jumped in higher-priced regions, including the Central Coast and the San Francisco Bay Area.

Prices are expected to edge higher as the market moves into the spring homebuying season over the next few months.

In San Diego, the median sales price for an existing, single-family detached home was $888,000 in February 2022, a 1.5 percent increase compared to the $875,000 price in January 2022. The February median price was 16.1 percent higher than a year ago at $765,000 in February 2021, marking an increase of $110,000 in one year.

February 2022 County Unsold Inventory and Days on Market
(Regional and condo sales data not seasonally adjusted)
February 2022 County Unsold Inventory and Days on Market

“Despite higher mortgage rates, California’s housing market is holding up remarkably strong, with home prices reaccelerating, market competition growing, and signs that the listings crunch is thawing,” said C.A.R. President Otto Catrina, a Bay Area real estate broker, and REALTOR®. “Prospective buyers are taking advantage of still-low rates before they move higher and getting a jump on the competition before the start of the spring homebuying season.”

“While home sales declined from both the previous month and year, February’s sales pace was still the second-highest sales level for a February in the last 10 years and strong relative to pre-pandemic levels of 2018 and 2019,” said C.A.R. Vice President and Chief Economist Jordan Levine. “However, the invasion of Ukraine has created geopolitical headwinds and pushed up inflation a notch, which may keep mortgage rates elevated and cause the housing market to retreat amid the uncertainty.”

At an index of 67 in February, C.A.R.’s monthly Consumer Housing Sentiment Index dropped 2 points from last month as consumers acknowledged the current market challenges and felt increasingly pessimistic about home-buying opportunities. Consumers who thought it was a “good time to buy” dropped to 16 percent in February from 19 percent last month and from 28 points last year. Still, one in every four consumers is holding out hope that it will be easier to find a home in the next 12 months while nearly two in every three believe that home prices will rise over the same period of time.

Other key points from C.A.R.’s February 2022 resale housing report include:

-- At the regional level, all major regions except the Central Valley recorded a decrease in sales on a year-over-year basis, but lower-priced areas continued to fare better than higher-priced areas in the Golden State. The Central Coast region had the sharpest decline of all regions, with sales in February dropping 16.3 percent from a year ago. However, to put things into perspective, housing demand was abnormally strong early last year with sales in February 2021 surging 22.4 percent from the prior year. The San Francisco Bay Area and Southern California also experienced a double-digit or a near double-digit sales loss of 13.7 percent and 9.9 percent, respectively, in February 2022.

-- More than 70 percent of all counties tracked by C.A.R. experienced a dip in existing home sales from a year ago, with 24 counties declining more than 10 percent on a year-over-year basis.

-- Home prices continued to grow in all major regions in the state, with all five posting double-digit year-over-year gains in their median price. The San Francisco Bay Area recorded the highest year-over-year price gain at a 15.9 percent increase, followed by the Central Valley (14.8 percent), Southern California (12.6 percent), the Far North (11.9 percent), and the Central Coast (10.1 percent).

-- Despite slower price growth due to rising mortgage rates, home prices continued to increase across the state, with 24 California counties setting new record high median prices in February 2022.

-- California’s unsold inventory of homes index rose in February 2022 to its highest level in three months. The February 2022 figure was 2.0 months, compared to 1.8 months in January 2022, 1.2 months in December 2021, and 2.1 months in February 2021. The December 2021 figure of 1.2 months was the lowest level on record since CAR began tracking this figure in July 1988. 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.

-- In San Diego, the inventory of available homes for sales in February 2022 was at 1.5 months, the same figure in January 2022 and 1.8 months in February 2021. Inventory levels from previous months in 2021 included: December, 1.0; November, 1.3; October, 1.5; September, 1.6; August, 1.7; July, 1.7.

-- The median number of days it took to sell an existing, single-family home in San Diego County in February 2022 was 7 days, compared to 9 days in January 2022 and 7 days in February 2021. Numbers from previous months in 2021 included: December, 8; November, 9; October, 9; September, 9; August, 8; July, 7; June, 6; May, 7; April, 6. The median represents a time when half the homes sell above it and half below it.

-- Statewide, the median number of days it took to sell a California single-family home in February 2022 was 9 days, compared to 12 days in January 2022 and 10 days in February 2021. Numbers from previous months in 2021 included: December, 12; November, 11; October, 11; September, 10.

-- The statewide median sales-price-to-list-price ratio remained above 100 percent at 102.6 percent in February 2022 and 101.0 percent in February 2021. Sales-to-list-price ratio is an indicator that reflects the negotiation power of home buyers and sellers under current market conditions. The ratio, expressed as a percentage, is calculated by dividing the final sales price of a property by its last list price. A sales-to-list ratio with 100 percent or above suggests that the property sold for more than the list price, while a ratio below 100 percent indicates that the price sold below the asking price.

-- The 30-year, fixed-mortgage interest rate averaged 3.76 percent in February, up from 2.81 percent in February 2021, according to Freddie Mac. The five-year, adjustable mortgage interest rate averaged 2.87 percent, compared to 2.83 percent in February 2021.

Topics: Brokers/Managers, Market Information

Point-of-sale water retrofit requirement eliminated in San Diego

Posted by PSAR Communication on Mar 4, 2022 10:30:00 AM

The City of San Diego No Longer Requires a WATER CONSERVATION CERTIFICATE At the Point of Sale

The City of San Diego no longer requires property owners to file a Water Conservation Certificate when selling their property. The City Council approved the change to the Municipal Code which went into effect on February 27, 2022.

In 1992, the City of San Diego developed several permanent water conservation provisions which were more stringent than industry standards at the time. The provisions were added to the Municipal Code and required property owners to remove non-conserving water devices and install ultra low-flow toilets and other low-flow fixtures in all new construction or permitted remodels. The City also required property owners to submit compliance disclosure information upon the sale of a property. The City determined that review and enforcement of a Water Conservation Certificate are no longer necessary nor legally required.

California approved Senate Bill 407 in 2009 and requires owners of residential single-family, multi-family properties, and commercial properties to replace all non-compliant plumbing fixtures with water-conserving plumbing fixtures. SB 407 requires the disclosure of non-compliant fixtures between the seller and buyer at the time of property transfer. This requirement can typically be disclosed on a Real Estate Transfer Disclosure Statement (TDS.)

Learn more about water conservation laws and disclosure obligations at CAR in the risk management section under legal Q&As and disclosures here. (Log-in required.)

For more information, visit the City’s website.

Point-of-sale Water Retrofit Requirement Eliminated in San Diego

 

Topics: Brokers/Managers, Government Affairs

NEW Paragon ENHANCEMENTS ARE NOW LIVE

Posted by PSAR Communication on Feb 24, 2022 10:00:00 AM

Paragon made a number of updates to maximize its capabilities.

Read Paragon's Knowledgebase article for a full list of updates.

Here are three of the most impactful changes:

1) Listing Input - Enhanced Listing Congratulations Modal

The modal that appears to congratulate its users for saving a new listing now includes more information about the property and integrated services. This includes displaying the primary property photo, more space for important third-party vendors, and call-to-action text.

Listing Input - Enhanced Listing Congratulations Modal

 

2) Mapping - Polygon Map Drawing Tool

Paragon has added a feature to the polygon drawing tool in map searches that allows its users to delete endpoints. Previously, modifying a polygon required either moving points to reshape the drawing or starting over completely. Full directions for using this feature can be found HERE.

Mapping - Polygon Map Drawing Tool

 

3) Changes in Paragon Collaboration Center

Its users can see several upgrades and new features in Paragon Connect, especially in the Buyer Activity pages. These enhancements give its users more high-quality information per page. Look forward to the following:

     a. Identifying a Search's name and the person who created it
     b. Easily discernible and interactive Categories
     c. Seeing the last notification your client received
     d. Ring and donut chart visualizations that show data as a whole and broken into parts

Changes in Paragon Collaboration Center

These are only a few of the many new enhancements in Paragon. Its users can also see improvements on Collaboration Center detail reports, updated colors, menu improvements in Paragon Connect, full-screen search capabilities, and more.

A full list of changes is available on the CRMLS Knowledge Base. page. Click here to see the updates.

R.E.A.L. AWARDS Gala, April 30th @ viejas casino

Posted by Kevin McElroy on Feb 9, 2022 10:00:00 AM

blogBanner - 2021 REAL AWARDS-1

Congratulations to the PSAR REALTOR® members who are expected to be honored with a PSAR 2021 Real Estate Achievement and Leadership (R.E.A.L.) award.

Celebrate your 2021 achievements with your peers. Enjoy cocktails, dinner, and dancing at Viejas Casino. 

A Night of
Glitter and Glam REAL Awards Event

 Saturday, April 30th, 2022
5:30pm - 11:00 pm
Viejas Casino
5000 Willows Rd, Alpine, CA 91901
Cocktail Attire Recommended

 RSVP and Purchase Your Tickets Now!
Individual Tickets - $100*   or   A Table (8 Tickets) $800*

 PSAR Members        Eventbrite Registration

Eventbrite charges a transaction fee.  Avoid it by using the PSAR Member's Link. Non-members may create a billing account for free.
*Ticket costs will go up on April 1st ($125 and $1000)

Have questions? Need help?  Contact PSAR at - support@psar.org or 619-579-0333

Sponsorship Opportunities can be found here

The PSAR R.E.A.L. Awards program recognizes PSAR's top producing agents as compared to all other agents based in San Diego County.  Recipients achieved excellence through units or volume production sold in 2021. 

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PSAR's Mission is to empower real estate professionals.

Since 1928, the Pacific Southwest Association of REALTORS® has played a significant role in shaping the history, growth, and development of the Real Estate industry in San Diego County.

Topics: Announcements, Events, Leadership