CRMLS Training Schedule - August 2019

Posted by Kevin McElroy on Jul 24, 2019 1:45:40 PM

Blog_CRMLS_2019_AUGUST

PSAR | CENTRAL PSAR | EAST PSAR | SOUTH
4340 Genesee Ave., #203
San Diego, CA 92117
1150 Broadway, #100
El Cajon, CA 92021
880 Canarios Ct., #100
Chula Vista, CA 91910



Paragon: Agent Essentials
This course will provide you with an overview and solid foundation on how to use the CRMLS Paragon platform. Whether you are a new real estate professional, or getting back into the business, this course is a great place to start. In this course, you will learn

• What’s on the Home Page
• How to set up your email signature, photos, and message
• How to create, save, print, and email basic property searches

CENTRAL | AUG 08 @ 10 AM ............... REGISTER
EAST | AUG 21 @ 10 AM ............... REGISTER
SOUTH | AUG 27 @ 10 AM ............... REGISTER




Paragon: ShowingTime for the MLS
In this course, you will learn how to maximize and track your showings using ShowingTime software. It’s a simple to use, robust tool for online scheduling and management.

• Learn how to set up showing schedules for your listing.
• Buyers’ agents can quickly submit a request.
• Receive showing requests via email, phone call, or text

CENTRAL | AUG 08 @ 11 AM ............... REGISTER
EAST | AUG 21 @ 11 AM ............... REGISTER
SOUTH | AUG 27 @ 11 AM ............... REGISTER



Cloud Agent Suite
From the eye-catching reports of Cloud CMA to the “smart search” options in Cloud MLX to the lightning-fast branded alerts of Cloud Streams, these products will help develop your skill set as a real estate professional. The products are:

• Cloud CMA, an online comparative market analysis report generator
• Cloud MLX, a streamlined MLS prioritizes search and communication
• Cloud Streams, a listing alert and client collaboration tool

CENTRAL | AUG 08 @ 1 PM ............... REGISTER
EAST | AUG 21 @ 1 PM ............... REGISTER
SOUTH | AUG 27 @ 1 PM ............... REGISTER




 

Topics: Education

11 descriptions to avoid in MLS public remarks

Posted by PSAR Communication on Jul 22, 2019 10:18:02 AM

mls refereeSan Diego County REALTORS®, did you know that a misuse of Public Remarks violation occurs when certain information is placed in any public remarks field in the MLS?


Pro tip: The remarks in the Property Description field are limited to the physical and aesthetic characteristics of the property. Stick to describing the listing.  

The Property Description and other public facing fields may not include:

  1.  Access codes ​
  2.  Showing Instructions​
  3.  Compensation Information​
  4.  Lockbox information ​
  5.  Occupancy status of the property such as “vacant” ​
  6.  Email addresses ​
  7.  Website addresses ​
  8.  Phone numbers ​
  9.  Agent or brokerage information ​
  10.  Open house information
  11.  Language that violates applicable fair housing laws and guidelines

Keep your clients safe, avoid fines and list property like a professional.  MLS Rules are created by brokers and agents active in the business.  This rule 12.5 in the CRMLS Rules and Regulations.  Read about it here.  Want to know which fines can be levied without a warning?  See this list.

Topics: CRMLS

Volunteer at PSAR and Become a Bridge Builder

Posted by Rick Griffin on Jul 19, 2019 3:27:52 PM

I am honored to share with you the reasons why I’m involved as an active volunteer with PSAR, and why you should not wait another day to join me in showing a greater level of support for our Association.

Jason Lopez PSAR Board of Director

It’s fair to say that our industry is under attack. Our profession is being threatened in a number of ways, including questions about the value that seasoned, experienced and knowledgeable agents can offer to clients. It seems the only constant in real estate is change.

When discussing how the changes the real estate industry is facing certain changes, you may have heard the word “disruptors,” which could refer to a variety of factors: ranging from new franchisers; tech-centric start-up brokerages;the iBuyer model; MLS data aggregators; reduced commission structures and the intersection between technology and real estate.

As a result of the changes in our industry, the role our Association plays becomes even more critical in empowering our REALTOR® members and protecting personal property rights.  Actually these industry changes provide an outstanding opportunity for REALTOR® Associations like PSAR to stay ahead of the curve and to step forward in support of its members. So, I want to be part of this. I want to be involved in something that is part of the bigger picture and better for all of us.

My own career in real estate has encompassed a variety of business models, ranging from traditional to start-up to hybrid. I believe there’s enough room for everyone to stay connected and to succeed.

There’s another reason why I’m eager to volunteer with PSAR.

I have found that my involvement benefits the bottom line of my own business because of the opportunities to become acquainted with my fellow REALTORS® and brokers. At the end of the day, real estate is a relationship business. Yes, we may all be competitors, but we can also work together on deals. And I would prefer to undertake transactions with colleagues whom I know and trust. We all know the hard sell no longer works. People do not respond to a guy yelling at them about an amazing deal that they can’t live without. Instead, we choose to do business with someone we like and can communicate with. Good relationships don’t happen by accident. They take cultivation, time and effort. 

In fact, being involved in PSAR helps me discover ways to bring people together. It’s true that there’s a lot of conflict in our world. It’s a world filled with wars, division, arguments, prejudice and partisanship. But, PSAR provides a platform that allows our members to become bridge builders, not wall builders. PSAR is here to encourage members. You will need others in rough times, and we can encourage each other in the process.

Consider the universal principle of “use it or lose it.” For example, if you don’t exercise, your muscles get smaller. If you don’t use your mind, it will become duller as you grow older.  It’s the same with PSAR. If you have a talent and refuse to share it, then you’ll lose that talent. The opposite is, of course, true. If you use your muscles, they get bigger. And if you use your talent to help others at PSAR, then you’ll develop even more skills and abilities that will help you throughout your life.

Let me recommend that you decide today to become more involved with PSAR. PSAR is your hometown REALTOR® Association. As you know, home field advantage can mean everything in sports. Teams who play at “home” win more often than when playing on the road. And, when a team has their hometown fans cheering them on, they can often exceed their ability. All of us at PSAR are here to cheer for you. It all starts with you giving back by joining a committee, volunteering at an event and looking for opportunities to serve at a higher level. Thanks in advance for your greater involvement and membership participation.

* * *

Jason Lopez, who has worked in real estate for the past 25 years, became involved in PSAR leadership in 2016 while serving on a District Council. In 2018, he was elected to a two-year term on the PSAR board of directors. He was recently elected for a second term through 2021. He also will be serving as a C.A.R. Director in 2020. Currently, he is also serving as a facilitator of the weekly City Pitch Marketing Session at the PSAR Central San Diego Service Center in Clairemont.

Topics: Announcements, Government Affairs

Recently Elected 2020 PSAR Board Looking Forward to Service

Posted by Rick Griffin on Jul 12, 2019 4:39:41 PM

Blog_190713_electionresults-2

The recent election results for the 2020 PSAR board of directors is destined to provide the Association with forward-thinking leadership and a strong future of growth and benefits for members.

In the recent election, Ditas Yamane was elected to serve as the 2020 President-Elect. Sam Calvano will continue his role as Secretary-Treasurer in 2020.

Also recently elected to serve as Directors in 2020 on the PSAR board: Jason Lopez, Laurie MacDonald, Yvonne Cromer, Peter Mendiola and Mike White.

Continuing to serve in 2020 on the PSAR Board include Robert Cromer as president, Robert Calloway as immediate past president and directors Mike Anderson, Carey Guthrie, Sean Hillier, Robert Kilbourne and Norma Scantlin, and with Tony Santiago as affiliate director.

We’re grateful for the following board members whose terms will end Dec. 31, 2019: Shonee Henry and Dennis Ryan, along with Jan Farley as immediate past president.

Ditas has been involved with PSAR since 2002. She joined the Government Affairs Committee and became chairperson three years ago. Born and raised in the Philippines and immigrated into the U.S. in 1988. She worked for a leading commercial airline as an International Flight Attendant flying international routes for 22 years. In 2002, she earned her real estate sales license. Two years later, she became a broker. Her family has operated a business in the South Bay since 1991.

Ditas has been involved in the community serving as President of the National City Chamber of Commerce and President of the Filipino American Chamber of Commerce of San Diego County. She currently serves as a Planning Commissioner for the City of National City, overseeing land use, permitting and zoning changes. She is also President and CEO of the Mabuhay Foundation, a nonprofit organization that promotes a better quality of life. 

“I would like to thank the PSAR Membership for their trust and confidence in voting me in as their 2020 President-Elect,” said Ditas. “As the PSAR President- Elect, I will work side by side with our incoming President Robert Cromer in continuing to grow PSAR and continue to serve our members to thrive in our industry. I will again encourage our members to participate and support our mission to empower all of us. We are PSAR!”

Sam has served as a PSAR Board Director for the three years and as secretary-treasurer for the past six years. Sam began his real estate career as a sales agent in 1976 and then switched to real estate lending in 1983. As Treasurer Sam has been led the Board’s efforts to shore up the association's reserve fund while keeping dues low.  PSAR’s annual dues are fifty dollars less than they were ten years ago. Sam led efforts to build solar, renovate our buildings and parking lots and ensure the long term sustainability of PSAR. Sam represented PSAR as a CAR Director in 2019.

Jason has worked in real estate for the past 25 years. He became involved with PSAR leadership while serving on a District Council. He loves to ride skateboards and has an extensive collection of vinyl records of “British Invasion” music bands from the 1960s, 1970s, and 1980s. Jason is currently a facilitator of the City Pitch Marketing session in Clairmont.  He will also be serving as a CAR Director in 2020.

Laurie became involved with PSAR leadership as a member of the East County Government Affairs Committee. She served as PSAR YPN chair in 2017 and 2018. She also currently serves as chair of the PSAR 2019 Charity Committee. She has traveled to Sacramento in the past for C.A.R.’s “Legislative Day” events. She also traveled to 28 countries before turning 30 years of age. She is a fourth generation San Diegan. Her great-great-grandparents arrived in San Diego from Halifax, Nova Scotia sometime in the 1890s and her great-grandmother was born here in 1909.

Yvonne has previously served on the PSAR Charity Committee, organizers of the PSAR REALTOR® Games. She joined the PSAR board of directors in 2018. The Chula Vista native was a synchronized swimmer and a member of the Chula Vista's Dolphinettes, a competitive swim club that no longer operates. After graduating from Hilltop High School in Chula Vista (class of 1991), Yvonne attended the University of Utah. During Christmas break, she met her future husband Robert at a Christmas party.

Peter, a past PSAR president (2012), and Served as a CAR Director in 2011 and 2012. Peter was a driving force behind the efforts to merge the East San Diego County Association of REALTORS and the PSAR.  Peter grew up in National City, attending Las Palmas Elementary School, Granger Middle School and Sweetwater High School (class of 1996). He started his company in February 2007 as a Realty World office. It became a Coldwell Banker operation on Dec. 11, 2011.

Mike became involved in PSAR leadership in 2011 as the founding member of the PSAR Tech Committee. He has been selling real estate since 1980 and is currently serving as an assistant manager at his brokerage. He also has served on the Sandicor Technical Users Group and the C.A.R. ZipForm Committee. He got his first computer at age 18, a Commodore 16 with only 16 kilobytes of RAM. He graduated from Patrick Henry High School (class of 1979), and then attended the University of California at Los Angeles (UCLA) where he played trumpet in the marching band. At UCLA, Mike was among the final group of students required to learn the Fortran computer language using punch cards. And, he was also one among the first students at UCLA at the time to type homework assignments and term papers on a computer.

The PSAR Board wishes to thank everyone who ran for a Board position. All the candidates were committed and involved members of the Association. They volunteer their time to the industry to improve it and to the community to build home ownership opportunities, defend private property rights and support those in need.  

Topics: Announcements, Events, Government Affairs

make ZipForm Plus work for you

Posted by Kevin McElroy on Jul 11, 2019 4:51:59 PM

CAR zipform training

  • Gain knowledge you need to maximize zipForm Plus to complete contracts and manage transactions.
  • Practice on the new and updated interface along with new tools designed to save time and protect you from mistakes.
  • Discover features such as templates, MLS Connect, Photos and adding non-C.A.R. documents to your transaction, clause manager and more...

WEDNESDAY, JULY 24, 2019 | 10 AM TO 12 PM
PSAR EAST SERVICE CENTER
1150 BROADWAY, EL CAJON CA, 92021

Jan Farley-2018-eastcounty

Instructor: Certified zipForm Trainer, Jan Farley

Cost: FREE for PSAR and NSDCAR Members, $20 for Non-Members

Register Here

Or call (619)579-0333 to register. 

Topics: Education, PSAR Benefits

Access the Sentrilock educational toolbox for the SentriKeyTM Real Estate app!

Posted by PSAR Communication on Jul 11, 2019 7:00:00 AM

SentriKey Real Estate App

The new SentriKeyTM Real Estate app offers you a simple design and action-based layout so you can get potential buyers in the home and get it sold. Simply download the app at Google Play or the App Store and get those showings scheduled.

You can learn more about the app and its versatile features by accessing our collection of educational tools that are sure to meet the needs of all types of users.

Educational Tools (click the links below)

These are just a few of the tools available to help you learn more about the SentriKey Real Estate app. Find how-to videos and frequently asked questions on the support page.

Topics: Announcements, Technology, PSAR Benefits

Clean Listing Data- Know The MLS Fines levied with no Warnings

Posted by PSAR Communication on Jul 9, 2019 3:41:29 PM

Clean listing data is an important CRMLS benefit; with a regulated, level playing field, agents can all do better business. 

San Diego Paragon: Violations That Do Not Require a Warning
This list of violations, if committed, may lead to a fine without a warning. These violations cannot be corrected, may give a violator an unfair marketing advantage, or egregiously violate San Diego Paragon rules and/or state or federal law.

CRMLS Matrix: Violations That Do Not Require a Warning
For those of you who use Matrix, please also familiarize yourself with this list of Matrix-specific violations that may lead to a fine without a prior warning.

Citation Notices, Fines, and the Citation Review Process
This is the Citation Review Process. (Pro Tip: make sure to correct the violation as soon as possible to prevent issuance of additional citations.)

California Regional MLS Compliance Center
CRMLS has developed a comprehensive Compliance Center to guide agents to all the Compliance resources available. Here you will find FAQs, exclude a listing from the MLS, chat with a CRMLS Compliance Analyst, or learn more about CRMLS Rules and Regulations.

Bookmark the links above and visit crmls.org/compliance for compliance questions.

referee-1149014_640

Topics: CRMLS, Technology

PSAR Honored by California Board of Equalization for Assisting Military Veterans

Posted by Rick Griffin on Jul 3, 2019 4:45:56 PM

(From left to right)_ Jordan Marks, San Diego County Assessor’s Office; BOE Board Member Mike Schaefer; BOE Board Chair Malia Cohen; Ernie Dronenburg, San Diego County Assessor; Robert Calloway, 2019 PSAR President

PSAR’s success at helping San Diegans with the American dream of home ownership is becoming known statewide.

The California Board of Equalization (BOE), a state agency, has recognized PSAR for its leadership role in a housing affordability program that is continuing to assist disabled military veterans in San Diego achieve homeownership, stay in their homes and save money on their property taxes.

The BOE recently presented a resolution to PSAR President Robert Calloway in recognition of the association's success with the Disabled Veterans Property Tax Exemption Program. The resolution recognized PSAR and the program’s leaders, including the Veterans Association of Real Estate Professionals (VAREP), for exemplary leadership and their innovative approach to reaching and serving California’s disabled veteran population.

Presenting the official state resolution to PSAR was Mike Schaefer, BOE board member for District 4, which encompasses all of San Diego, Imperial, Riverside and Orange counties and a small portion of San Bernardino County. BOE is a state agency that oversees county property tax assessors. Schaefer also presented resolutions to Ernie Dronenburg, San Diego County Assessor, and Ricardo Pacheco, state director, VAREP. The San Diego County Assessor-Recorder-County Clerk’s (ARCC) Office manages the Disabled Veterans Property Tax Exemption Program.

The program, promoted by both PSAR and VAREP, connects disabled veterans and their spouses with the Assessor’s Office so they can qualify for a reduction of their property taxes. In 2018, the program, initiated by Jordan Marks, Taxpayers’ Rights Advocate with the Assessor’s Office, resulted in assisting more than 8,000 local disabled veterans with the little-used property tax exemption provided for in the California Constitution. The number of local disabled veterans helped was more than 1,400 vets served the previous year, a 28 percent increase for 2018. As a result of the program, enacted without any additional government funding, 100 percent veteran homeowners benefitted from a collective $1.9 million in property tax savings.

The little-known property tax exemption, found in the California Constitution and Revenue and Taxation Code Section 205.5, provides a property tax exemption on the home of some disabled veterans or an unmarried spouse of a deceased disabled veteran. The exemption is available to a 100 percent disabled veteran who, because of an injury incurred in military service, is blind in both eyes, or has lost the use of two or more limbs, or is totally disabled as determined by the VA or by the military service from which the veteran was discharged.

The Disabled Veterans Property Tax Exemption Program in San Diego County provides veterans with a reduction in property taxes in two ways:

-- A “Basic Exemption” is available for all veterans with a 100 percent disability rating or their unmarried surviving spouse. The Basic Exemption provides a savings of more than $1,000 per year.

-- A “Low-income Exemption” is available for veterans in households earning less than $60,000 annually. The amounts and income limits are adjusted annually for inflation.

Here’s how PSAR members can share with veterans the information on how to apply: Applicants should have their DD214 discharge with any rating other than dishonorable and their letter from the U.S. Department of Veterans Affairs detailing their disability rating. New homebuyers should file by the end of the year of purchase. The exemption will renew automatically after that.

Online applications are available at www.sdarcc.com. In-person assistance is available at the County Administration Center, 1600 Pacific Coast Highway, Room #103, San Diego. For assistance or appointments, call (619) 531-5773, or send an e-mail at ARCCdvets@sdcounty.ca.gov. Jordan Marks also is available for questions at Jordan.Marks@sdcounty.ca.gov.

“At PSAR, we use all tools available to us to achieve homeownership for everyone,” said Calloway. “Through member education, veterans and homebuyers know when they have a PSAR agent they are getting the best customer service, along with education and experience. That is how we have helped over 1,400 veterans save $1.9 million and find a home in San Diego.”

At the resolution ceremony, BOE Board Member Schaefer remarked, “Our Assessor Ernie Dronenburg, the Pacific Southwest Association of Realtors and the Veteran Association of Real Estate Professionals have gone above and beyond the call of duty by taking the initiative to reach out to disabled veterans. They exemplify the command, `lead, don’t follow.’ I applaud their outstanding efforts to bring the disabled veterans property tax exemption to an additional 1,400 disabled veterans in San Diego County. I have utmost respect for our veterans, especially those who are disabled as a consequence of their service to our country. I have a long-standing commitment to helping these courageous men and women who have sacrificed so much.”

Assessor Dronenburg added, “My San Diego County Assessor’s office is proud of our innovative partnership with the Pacific Southwest Association of Realtors and the Veteran Realtors. Together we were able to show that without spending any additional taxpayer dollars, we could better serve our disabled veterans and their spouses. Our efforts helped 1,400 more disabled veterans save over $1.9 million in property taxes annually. We are honored to receive this recognition from Board of Equalization member Schafer and the State of California for being an exceptional model for serving our veterans, which can be implemented statewide.”

Dronenburg’s Assessor’s office affects nearly every San Diego county resident who owns property or rents. His office oversees assessing the value of real estate and personal property, as well as qualifying taxpayers for property tax savings which include disabled veterans, homeowners, affordable housing units, and organizations operating for the welfare of the community. The office has a $71 million budget with 415 employees and five offices throughout San Diego County.

The BOE, which is comprised of five constitutional officers, including California’s Comptroller, oversees county property tax assessors and sets other taxes, including the alcoholic beverage tax, railroad car tax and taxes for public utilities and insurers.

Topics: Announcements, Government Affairs

2020 PSAR Board of Directors Announcement.

Posted by PSAR Communication on Jun 29, 2019 5:07:35 PM

The following candidates were elected by 498 PSAR members who voted for the Board of Directors this past week.  They will serve as volunteer leaders and represent membership as part of the team that will set the policy  and the strategic direction for PSAR for the next two years. 

Ditas Yamane 2020 President-Elect

Sam Calvano 2020 Treasurer

Laurie MacDonald  2020 Director
Yvonne Cromer 2020 Director 
Peter Mendiola 2020 Director
Mike White 2020 Director
Jason Lopez 2020 Director

The President-Elect will automatically ascend to President in 2021.  The Treasurer serves for one year and each of the Directors have two year terms.

Thank you everyone who ran.  The candidate were all committed and involved members of the association.  The volunteer their time to the industry to improve it and to the community to build homeownership opportunities, defend private property rights and support those in need.  

 

Topics: Announcements, Leadership

It took 2 weeks to sell a home in May

Posted by Rick Griffin on Jun 28, 2019 3:55:59 PM

It took two weeks to sell a home in May

San Diego County’s housing prices in May were relatively flat in a year-over-year comparison, as were home sales and prices, according to the latest housing market report from the California Association of REALTORS® (C.A.R).

The median price of an existing single-family home in San Diego was $650,000 in May 2019, compared with $649,000 in April 2019, a difference of only 0.2 percent, and higher by 1.6 percent in a year-over-year comparison with the $640,000 figure from May 2018.

The San Diego County home sales total in May 2019 was 7.9 percent higher from April 2019, but only 0.2 percent higher than May 2018.

Statewide in May 2019, California’s median home price edged higher to another peak for the second straight month as lower interest rates helped bolster home sales. The statewide median home price reached another all-time high in May, hitting $611,190. It was a 1.4 percent increase from the $602,920 median price registered in April 2019, and a 1.7 percent rise from the $600,860 price in May 2018.

Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 406,960 units in May 2019, according to information collected 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 2019 if sales maintained the May pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales.

May’s statewide sales figure of 406,960 represented a 2.6 percent increase from the 396,780 level in April 2019 and a 0.6 percent decrease from home sales in May 2018 of 409,270. Sales rose above the 400,000 benchmark for the first time since July 2018 and reached the highest level in 11 months, while the year-to-year sales dip was the smallest in 13 months.

“The lowest interest rates in nearly a year and a half, no doubt, have elevated housing demand as monthly mortgage payments have become more manageable to home buyers in general,” said C.A.R. President Jared Martin. â€śThe state’s housing market remains soft, however, as home sales continue to lag behind last year’s level for more than a year now.” 

“While lower interest rates have spurred buyer demand in recent months, they also have played a role in ongoing price hikes,” said C.A.R. Senior Vice President and Chief Economist Leslie Appleton-Young. â€śBuyers could offer higher prices without hurting their bottom lines and maintain the same level of affordability, as rates remain on a downward trend. With mortgage rates expected to stay low in the upcoming months, home prices may inch up further for another month or two before cooling off.” 

Other key points from the May 2019 resale housing report included:

-- Home prices increased in all counties in Southern California, except for Ventura, which dipped 1.6 percent.

-- Active listings in May 2019, which have been decelerating since December 2018, continued to climb from the prior year, increasing 7.4 percent from a year ago. It was the 14th consecutive year-over-year increase but also the first single-digit gain since last June.

-- The Unsold Inventory Index (UII), which is a ratio of inventory over sales, was lower in May than April’s level, suggesting that the typical seasonal pattern of rising home sales are beginning to play out this year. The UII was 3.2 months in May 2019, down from 3.4 months in April 2019 but up from 3.0 months in May 2018. The index measures the number of months it would take to sell the supply of homes on the market at the current sales rate. The jump in the UII from a year ago can be attributed to the mild sales decline and the sharp increase in active listings.

-- The median number of days it took to sell a California single-family home is increasing. Time on market fell from 21 days in April 2019 to 18 days in May 2019 as the homebuying season got underway. It took a median number of 15 days to sell a home in May 2018. Meanwhile, in San Diego County, it took only two weeks to sell an existing single-family home in May 2019. The median number of days a home remaining unsold on the market stood at 14 days in May, compared with 17 days in April, 19 days in March, 22 days in February and 13 days in May 2018.

-- The statewide sales-price-to-list-price ratio was 99.3 percent in May 2019, compared to 100 percent in May 2018. 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 statewide price-per-square-foot average for an existing, single-family home statewide reached $292 in May 2019, up from $286 in May 2018. The May 2019 figure was the highest level since late 2007.

-- The 30-year, fixed-mortgage interest rate averaged 4.07 percent in May, down from 4.59 percent in May 2018, according to Freddie Mac. The five-year, adjustable mortgage interest rate increased in May to an average of 3.65 percent from 3.79 in May 2018.

In other recent real estate and economic news, according to news reports:

-- According to real estate tracker CoreLogic, the San Diego County median home price stayed at $570,000 in May, the same as it was last May. Home prices reached a peak in August 2018 of $584,750, but prices have mostly leveled off as sales have started to decline.

-- According to the most recent S&P CoreLogic Case-Shiller Indices, home prices in San Diego County rose 0.5 percent in April, after a 1.1 percent increase in March and 1.0 percent rise in February. Prior to February, local home prices had declined for six straight months. It was the first time since 2012 for annual home price gains in San Diego to be below 1 percent. Because of the six-month downward trend, San Diego home prices are up only 0.8 percent over the past year, compared to the national average of 3.5 percent. The nationwide 20-city composite posted a 2.5 percent year-over-year gain in April.

-- According to Redfin, San Diego County had the third lowest homeownership rate for single mothers in the U.S. in 2017. In the latest figures available, only 22.4 percent of single mothers owned a home in San Diego County in 2017, according to the report. This is compared to an overall San Diego homeownership rate of 53 percent.

-- According to ClosingCorp., a San Diego-based provider of residential real estate closing cost data, the average closing costs on a home purchase in California last year was $6,765, nearly $1,000 more than the national average. The report assumed an average single-family home sales price between $600,000 and $700,000 and included taxes. The average closing cost without taxes was $5,284. The national average home closing cost in 2018 was $5,779 including taxes, and $3,344 excluding taxes. The average closing costs with taxes works out to slightly more than 1 percent of the sales price.

-- According to the 2019 Home Affordability Report, on a nationwide basis, it takes 14 years to save for a 20 percent down payment on a median price home for those earning the median income. In San Diego, it takes 31 years. The least affordable cities with rankings of 30 years or longer include Boston (30 years), San Jose and San Diego (31 years), Miami and Manhattan (36 years), Honolulu and San Francisco (40 years) and Los Angeles (43 years).

-- According to Zumper, an online rental company, San Diego was the 11th most expensive U.S. city for renters in June, with a typical one-bedroom apartment going for $1,710 per month. The monthly payment figure for June was actually 7.7 percent lower than the same month a year ago.

-- According to Qualify of Life Dashboard, a research company, the quality of life in San Diego is improving in six areas, but declining in four. The six areas of improvement include air quality, electricity use, electric vehicles, employment, entrepreneurship and renewable energy. The four areas of decline include housing, traffic congestion, waste and water use.

-- First American Financial Corp.’s national mortgage loan application defect index declined for the first time in eight months in April. The report still found the defect index was up by 11 percent year-over-year, however, indicating there is plenty of room for improvement. In contrast to the national statistics, San Diego saw its mortgage defects decline by 4.3 percent in a year-over-year comparison.

-- San Diego County’s unemployment rate fell to 2.8 percent in May, matching the county’s lowest unemployment rate for any month since at least June 2017, according to the California Employment Development Dept. The county’s unemployment rate fell two-tenths of a percent month-over-month, from a seasonally adjusted 3 percent in April to 2.8 percent last month. At this time last year, the county’s unemployment rate also fell to 2.8 percent before spiking above 3.5 percent in June.

Topics: Market Information, Industry