Sign up, and be a part of PSAR’s Leadership by becoming an Officer or Director.

The Pacific Southwest Association of REALTORS® (PSAR) is seeking dedicated real estate professionals who have been active on a committee to step up and run for a position on the 2025/26 Board of Directors. Play a vital role in shaping the future of the association and the real estate industry in the region.

Why Get Involved? Contributing your time and leadership to PSAR is an incredible way to give back to the REALTOR® community that helps sustain your business. Have the opportunity to:

• Influence important decisions that impact real estate professionals.
• Stay ahead of the curve on legislative issues, new laws, and industry trends.
• Expand your network by working alongside other high-caliber leaders.
• Gain valuable experience in association governance and leadership.
• Raise your profile and reputation among peers.

The deadline for Submission is Friday, April 26, 2024 (5 PM) for the following positions on the 2025 Board of Directors:

• President-Elect
• Secretary/Treasurer
• Directors (5 positions)

Make your voice heard and help uphold the professional standards and ethical values that incentivize REALTORS® to remain in the business. Submit your nomination today!

Click on the link to access the nomination forms: 

2025/2026 Board and Officer Nomination Form

2025 CAR Director Application

2025 Affiliate Director Nomination

 

In the wake of emergencies, the real estate industry in California faces unique challenges. Understanding the state's anti-price gouging laws is crucial whether you're a sales agent, broker, or property manager. These laws not only protect consumers during crises but also guide professionals in maintaining ethical standards.

Here's what you need to know: 

The Essence of Price Gouging in Real Estate
Price gouging occurs when prices for housing, rentals, or other essential services are significantly increased to exploit an emergency. For real estate professionals, this typically relates to the pricing of rentals, homes for sale, and emergency lodging. The goal is to prevent undue strain on those affected by disasters, ensuring access to housing remains fair and equitable.

California’s Stance on Price Gouging
California law, specifically Penal Code Section 396, restricts increasing the price of housing and other essential services by more than 10% following an emergency declaration. This applies to sales, rentals, and services across the board, ensuring that real estate professionals are aligned with legal and ethical pricing standards during critical times.

Timing and Application of the Law
These protections activate immediately upon an emergency declaration by federal, state, or local authorities and are initially set for 30 days. For real estate-related services, like reconstruction and cleanup, the period extends to 180 days. Importantly, officials can extend these timeframes to meet ongoing needs, affecting how properties are marketed and managed.

Staying Informed on Declarations
Real estate professionals should closely monitor emergency declarations to comply with legal requirements. This includes staying updated through the Governor's website and local government channels. Awareness of state and local declarations is key to ensuring your practices align with current regulations. The following locations are under price gouging protections.

Who and What Is Covered?
The statute broadly applies to all entities within the real estate sector, including individuals and companies involved in selling, renting, or managing properties. It covers a wide range of necessities, notably including rental housing, hotels, and motels, ensuring that the industry's response to emergencies is comprehensive and compliant.

Addressing Cost Increases and Violations
If your costs increase due to supplier price hikes, the law allows the cost to be factored into pricing, provided it can be justified. However, compliance with the statute is closely monitored, and violations can lead to severe penalties, including fines and criminal charges. Ensuring transparency and fairness in pricing is crucial to avoid legal repercussions.

Role of Real Estate Professionals in Compliance
As gatekeepers of housing and essential services, real estate professionals have a pivotal role in upholding these laws. This involves adhering to pricing regulations and advising clients and the community on their rights and protections. Your guidance can help navigate the complexities of emergencies, ensuring access to housing remains fair and stable.

Conclusion
For real estate professionals in California, understanding and complying with anti-price gouging laws is essential. These regulations ensure that during emergencies, the industry acts with integrity, maintaining fair pricing and access to housing. By staying informed and adhering to these laws, you play a vital role in supporting communities during their most vulnerable times, reinforcing the ethical standards that define the real estate profession.

This link provides useful guidance for identifying if a state of emergency affecting price gouging in rental housing is in effect. Simply locate your rental property's county on the list and note the code (a letter in parentheses) next to it. Then, refer to the explanations at the bottom of the page to understand which price gouging laws apply to your situation

 

Important Disclosure
Please note that the information provided in this blog post is for general informational purposes only and does not constitute legal advice. Real estate laws and regulations can be complex and subject to change. While we strive to present accurate and up-to-date information, we cannot guarantee the completeness, reliability, or applicability of the content to your specific situation.

As a real estate professional, it's essential to understand your actions' legal implications, especially in emergencies and price-gouging laws. Therefore, we strongly recommend consulting with a qualified attorney or legal expert to obtain advice tailored to your specific circumstances. Doing so will ensure you navigate these challenges with the utmost compliance and integrity, safeguarding your professional practice and the communities you serve.

 

Despite a recent uptick in mortgage interest rates, California’s housing market continued to demonstrate resiliency in February 2024, reaching sales levels not seen since September 2022, according to the latest home sales and price report from the California Association of Realtors (C.A.R.).

In San Diego County, homes sales and home prices outpaced statewide levels with greater margins.

Sales of existing, single-family homes in San Diego County increased 20.9 percent in a month-over-month comparison between February 2024 and January 2024. In a year-over-year comparison between February 2024 and February 2023, the sales pace also was higher, an increase of 8.1 percent.

Similarly, statewide home sales for February 2024 increased 12.8 percent in a month-over-month comparison and 1.3 percent year-over-year. The monthly sales increase was the second straight month of double-digit gains for California. It was also the second consecutive month of year-over-year gains.

Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 290,020 in February, 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 2024 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 remained below the 300,000 threshold for the 17th consecutive month. While it is likely that sales will stay below this level in the first quarter of 2024, statewide home sales on a year-to-date basis remained positive with an increase of 3.4 percent, suggesting a better spring home-buying season than that experienced last year.

Meanwhile, home prices continued to rise in San Diego County in February 2024.

The median sales price of an existing, single-family detached home in San Diego County in February 2024 was $980,000, a 5.9 percent difference from January 2024, when the median was $925,000. A year ago, in February 2023, the median price for a San Diego County home was $878,000, a difference of 11.6 percent with February 2024.

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

Home prices on a statewide basis also increased, but at smaller margins compared to San Diego. The median price of an existing, single-family home in California was $806,490 in February 2024, a 2.2 percent difference with the statewide median price of $789,480 in January 2024. A year ago, in February 2023, the statewide median home price was $735,300, a difference of 9.7 percent with February 2024.

The near-double-digit, year-over-year gain was the eighth straight month of annual price increases for the Golden State. It was the tenth time in the last 11 months that the median price for an existing single-family home was above $800,000.

With mortgage rates on the uptick since the start of the year and concerns about rates staying elevated for at least the first half of 2024, the housing market could struggle to build on the momentum exhibited in the first two months of this year. However, tight inventory conditions should keep the market highly competitive and provide support for prices.

Moreover, sales of homes priced at or above $1 million have been holding up better in the last few months than more affordable options. The high-end market segment continued to grow year-over-year in February by double digits, while the more affordable segment declined again modestly. The mix of sales toward higher priced homes continued to provide support to the statewide median price and was partly responsible for the strong surge year-over-year price growth rate in February.

“Housing supply conditions in California continued to improve in February with new active listings rising more than 10 percent for the second straight month,” said C.A.R. President Melanie Barker, a Yosemite REALTOR®. “This is great news for buyers who have been competing for a dearth of homes for sale, and the momentum will hopefully build further as we enter the spring home buying season.”

“Consumers have been feeling more positive about buying and selling since the beginning of the year, as increases in sales activity and home prices are reflected in the latest improvement in optimism,” said C.A.R. Senior Vice President and Chief Economist Jordan Levine. “While the recent upward movement in interest rates may result in more moderate sales in March, we expect homebuyers on the sidelines to reenter the market as the economy slows and rates begin to trend down again in the second quarter.”

 

Other key points from C.A.R.’s February 2024 resale housing report include:

• Home sales in all major regions in the state rose in February 2024, including 7.0 percent in Southern California.
  
  
• At the regional level, home prices increased in February 2024 in all major reasons compared to a year ago, including 10.8 percent in Southern California.
  
  
• The unsold inventory statewide index decreased 6.3 percent in February 2024 on a month-over-month basis, dipping by 3.2 percent from February 2023. The index, which measures the number of months needed to sell the supply of homes on the market at the current sales rate, dipped from 3.2 months in January 2024 to 3.0 months in February 2024. The index was 3.1 months in February 2023.
  
  

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

  

• The unsold inventory index of available existing homes for sales in February 2024 in San Diego County was 2.3 months, a figure that was identical to February 2023. The index was 2.6 months in January 2024. 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.
  
  
• Existing active listings at the state level increased on a year-over year basis for the first time in 11 months. February’s increase was the largest in 12 months, an encouraging sign that housing supply could be heading in the right direction as the market approaches the spring home-buying season. However, mortgage rates have increased since the start of the year and are expected to remain elevated, which may cause potential sellers to have second thoughts about listing their house for sale.
  
  
• New active listings in February 2024 at the state level increased from a year ago for the second consecutive month by double digits as more sellers listed their homes on the market ahead of the spring home buying season as mortgage rates dipped at the start of the year. The annual listings increase was the largest since May 2022.
  
  
• The median number of days it took to sell a California single-family home was 22 days in February 2024, 32 days in January 2024 and 35 days in February 2023.
  
  
• In San Diego, the median number of days it took to sell an existing, single-family home was 13 days in February 2024, 21.5 days in January 2024 and 19 days in February 2023. The median represents the time when half the homes sell above it and half below it.
  
  
• C.A.R.’s statewide sales-price-to-list-price ratio was 100 percent in February 2024, 98.9 percent in January 2024 and 97.7 percent in February 2023. In 2023, the statewide, sales-price-to-list-price ratio on a monthly basis was at 99 percent in December, 100 percent in November, October, September, August, July, June, May and April, 99.1 percent in March, 97.7 percent in February and 96.5 percent in January.
  
  
• The 30-year, fixed-mortgage interest rate averaged 6.78 percent in February, up from 6.26 percent in February 2023, according to C.A.R.’s calculations based on Freddie Mac’s weekly mortgage survey data.

Link to:  Location and Direction | Pitch Details | Property Coverage | Agenda | How To Pitch

 

To enter a property for a PSAR pitch session, use this link: "Request Pitch".

Join REALTORS® Trish Nuñez & Karina Souza as they moderate the Central Pitch!

Showcase listings, receive live feedback, network with fellow local agents. Coverage includes Bay Ho, Clairemont,   La Jolla, Linda Vista, Mission Beach, Mission Hills, Morena, Ocean Beach, Pacific Beach, & Point Loma  There's nothing like person-to-person interaction!

PSAR's Central Pitch will deliver these benefits: 

• Live listing Pitch: Promote your listings to a room full of engaged and motivated local agents
• Improve Your Marketing: Gain valuable insights through the interactive Q&A session that will help you market your listings more effectively.
• Network: Meet, mingle, and build important relationships with fellow top-producing agents who can bring qualified buyers to your listings.

Tuesday| March 12th, 2024
9:30 AM - 10:30 AM
...and every Tuesday thereafter at 9:30 AM
There will be coffee and some breakfast nosh items available as well!

 

PSAR Central Office in Clairemont
4340 Genesee Ave, San Diego, Suite 203*

*Located on the second floor. Please enter through the rear entrance of the building. Signage will direct you to the correct room once you reach the office.

Pitch Details

Great listing exposure! The property will be listed in the "pitch email" sent to agents in corresponding areas of the county the evening prior. This email has a consistently high open rate. 

At this time, pitched properties are not required to be held open after the pitch session, but it is encouraged due to the momentum generated at the session.

Here are the pitch guidelines:

• Properties "Coming Soon" and "Active" properties can be pitched. Coming soon properties may not be shown  Here are the rules.

• Only "Active" properties may be part of the broker's open.

• If the listing agent cannot come in and pitch, no need to worry as you can assign another MLS subscriber to make the pitch for you. Make sure to indicate it in the pitch form!

• Cancellations must be received by 12:00 pm the night before via email (pitch@psar.org), or you will be considered a "No Show." No Shows without an email cancellation will be suspended from the Pitch Session for 90 days.

• All MLS subscribers are welcome regardless of association affiliation. Those marketing properties must be licensed subscribers or participants in an MLS.

• PSAR affiliate members are welcome to participate and network. More information is available on sponsoring a pitch session and addressing attendees.

Registration & Questions:

• Call 619-421-7811 or email pitch@psar.org with any questions.

• To enter a property for a PSAR pitch session, use the "Request Pitch" form.

• Pitches MUST be submitted by 3:00 pm the day before the meeting (Monday) to be included.

Coverage Area

Properties in the following zip codes may be included: Bay Ho, Clairemont,   La Jolla, Linda Vista, Mission Beach, Mission Hills, Morena, Ocean Beach, Pacific Beach, Point Loma   (92037, 92103, 92107, 92108, 92110, 92111, 92121, 92122, 92123,92037.)  (Out-of-area pitches are allowed as time permits)

Caravan Tour Number To Come

 

Pitch Agenda

• Host introductions

• We request the attendees to keep mobile phones silent as a courtesy to the pitch speaker

• Introduce this week's sponsor: Pitch session begins: each agent pitches their property (2 minutes each)

• Coming soon properties: agents highlight listings coming soon

• Price changes: agents announce recent price changes

• Additional announcements: relevant industry news/updates

• Upcoming PSAR events and classes

• Reminder of open houses: agents state if they are holding opens after the pitch

Meeting announcements / Market Update

Pitch sessions provide a valuable platform to gain insights from industry experts on current real estate trends, vital updates and announcements for REALTORS® in the county, that could impact their business.

• Meeting announcements: cover any PSAR updates/news

• Market update: provide an overview of the latest market trends and statistic

How to Pitch Your Property

When it's your turn to pitch:

• Walk to the front of the room

• State your name, company, and phone number clearly and slowly

• We will display photos while you provide key property details:

  • Address

  • Property type (e.g. single-family home, condo, etc.)

  • Asking price

  • Brief description

  • Key features and details

  • Why agents should see this property

  • Will you be holding an open house after the pitch session?

• Wrap up the pitch by repeating:

  • Your name

  • Company

  • Phone number (slowly and clearly)

• Allow agents to ask questions after your pitch

• Limit pitch to 2 minutes maximum

PSAR's CRMLS subscribers can exchange registered old Gen 1 and Gen 2 lockboxes for new ones at a discounted rate of $120 until March 28th  April 30th!

This is part of a move to ensure continuity due to Sentrilock's updates for security and technology enhancements.

Sentrilock will terminate all Sentrikey card usage, including the Associations Admin keys, effective March 31, 2024. This means:

• Non-Bluetooth lockboxes should not be bought or sold. Ownership cannot be transferred, and these boxes, if inactive for over a year, will need an internal clock reset by March 31 to continue functioning.

• PSAR advises changing batteries and checking if old model boxes need a clock reset. Replacement batteries are available at PSAR service centers and possibly online. Sentrilock Customer Support can assist with resets at (513) 618-5800.

• A non-Bluetooth lockbox displaying "Code" then "Error" indicates it requires a clock reset. This must be done by March 31.

• "Call Before Showing" (CBS) functionality can be activated on non-Bluetooth boxes until March 31, after which CBS will remain on the box. However, mixing old and new boxes is not supported, limiting the CBS feature's use until all PSAR lockboxes are Bluetooth models.

PSAR urges members not to dispose of old boxes in the trash but to drop them off at PSAR for recycling.

For additional information, contact PSAR service centers at support@psar.org or (619) 421-7811.

 

Katie Johnson NAR's General Council shared an update today regarding the Department of Justice's (DOJ) Statement of Interest in the ongoing lawsuit, Nosalek v. MLS PIN, which scrutinizes the practice of cooperative compensation between listing and buyer brokers.

MLS PIN, not fully owned by REALTOR® associations and not bound by NAR's guidelines, mandates that listing brokers offer compensation to buyer brokers. The DOJ challenges this tradition, suggesting that listing brokers and sellers should not offer compensation to buyer brokers, aiming to change longstanding practices in real estate transactions in the U.S.

Johnson argues that the DOJ's stance could harm consumers by making it more expensive for buyers to obtain representation and limit access to housing, noting the DOJ's lack of new analysis to back its claims. She emphasizes that such DOJ interventions overlook the potential negative impacts on homebuyers, including those buying for the first time or belonging to minority groups, and could disrupt the housing market.

Despite these challenges, NAR remains committed to defending free market competition and ensuring fair home ownership access. Johnson urges members to fully understand the DOJ's position, highlighting its implications for cooperative compensation practices and the broader real estate market. She asserts NAR's dedication to navigating these issues, aiming for outcomes that support property owners and real estate professionals across America.

Hee entire update may be found on the Realtor Hub Here.

Read the DOJ,'s Statement of Interest Here

Lower mortgage rates at the beginning of this year failed to spark home sales across San Diego County in January 2024, according to the latest home sales and price report from the California Association of Realtors (C.A.R.).

Sales of existing, single-family homes in San Diego County declined 0.9 percent in a month-over-month comparison between December 2023 and January 2024. In a year-over-year comparison between January 2024 and January 2023, the sales pace was unchanged, a difference of 0.0 percent.

In contrast, statewide home sales for January 2024 increased 14.4 percent in a month-over-month comparison and 5.9 percent year-over-year. It was the highest level for statewide existing home sales in six months.

Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 256,160 in January 2024, 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 2024 if sales maintained the January pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales.

While the increase in January 2024 was the first year-over-year sales gain in 31 months, the sales pace stayed below the 300,000-unit threshold for the 16th straight month and will likely stay below that level in the first quarter of 2024. With interest rates moderating sharply at the end of 2023 and leveling off nearly 100 basis points below the most recent peak, home sales should continue to grow year-over-year in February, but the improvement will be modest.

Meanwhile, home prices continued to rise in San Diego County in January 2024. The median sales price of an existing, single-family detached home in San Diego County in January 2024 was $925,000, a 1.5 percent difference from December 2023, when the median price was $911,500. A year ago, in January 2023, the median home sales price was $824,900, a difference of 12.1 percent with January 2024.

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

However, in contrast, on a statewide basis, home prices declined in month-over-month and year-over-year comparisons. The median price of an existing, single-family home in California was $788,940 in January 2024, a 3.8 percent drop from the $819,740 figure in December 2023. A year ago, in January 2023, the statewide median home price was $751,700, a difference of 5.0 percent with January 2024.

It was the seventh straight month for annual price gains on a statewide basis. The monthly price decline was due primarily to seasonal factors, and the January figure marked the first time in ten months that the median price dropped below the $800,000 benchmark. With mortgage rates softening since mid-October, home prices will likely maintain their upward momentum, and the market should continue to observe a mid- to single-digit, year-over-year growth rate in California’s median price in at least the early part of 2024.

“It’s encouraging to see California’s housing market kick off the year with positive sales growth in January,” said C.A.R. President Melanie Barker, a Yosemite REALTOR®. “While we’ll likely experience some ups and downs in home sales in the coming months as rates continue to fluctuate, the lending environment is expected to be more favorable in 2024, so the market should see more pent-up demand translate into sales.”

“The increase in new active listings for the first time in 19 months was great news for the California housing market,” said C.A.R. Senior Vice President and Chief Economist Jordan Levine. “With rates climbing back up to a two-month high earlier this week due to the latest inflation concerns, potential home sellers could hit the pause button on listing their house on the market and wait until rates begin to ease again. In general, rates are expected to decline later this year, and available inventory should slowly improve throughout 2024.”    

Other key points from C.A.R.’s January 2024 resale housing report include:

• Home sales in all major regions in the state rose in January 2024 on a year-over-year basis, including 2.2 percent in Southern California.
  
  
• At the regional level, home prices increased in January 2024 in all major regions from a year ago in January 2023, including 7.0 percent in Southern California
  
  
• Unsold inventory statewide index increased 28 percent on a month-over-month basis and declined by 8.6 percent from January 2023. The index, which measures the number of months needed to sell the supply of homes on the market at the current sales rate declined from 2.5 months in December 2023, to 3.2 months in January 2024. The index was 3.5 months in January 2023.

 

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

• In San Diego County in January 2024, the inventory of available homes for sale was 2.6 months, compared to 2.2 months in December 2023, and 2.7 months a year ago in January 2023. Other unsold inventory figures on a monthly basis in 2023 for San Diego County included 2.5 months in November and September, 1.9 months in August, 2.0 months in July, 2.0 months in June, 1.7 months in May, 1.9 months in April, 1.7 months in March, 2.3 months in February and 2.7 months in January. 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.

•  Existing active listings at the state level dipped again on a year-over-year basis for the 10th straight month in January 2024. However, the decline was small, a sign that active listings might be heading in the right direction as the market approaches the spring home-buying season. Still, the recent jump in mortgage rates the past couple of weeks could cause potential sellers to reconsider listing their homes for sale.
  
  
•  New active listings at the state level increased from a year ago for the first time in 19 months, and the annual increase was the largest since May 2022. The jump in new active listings contributed to an improvement in overall active listings, and the sharp drop in rates at the end of 2023 was likely the motivating factor that convinced more homeowners to sell their homes.
  
  
• The median number of days it took to sell a California single-family home was 32 days in January 2024, 26 days in December 2023, and 39 days in January 2023.
  
  
• In San Diego, the median number of days it took to sell an existing, single-family home was 21.5 days in January 2024, compared to 18 days in December 2023, and 32 days in January 2023. Other median-time-on-the-market figures on a monthly basis for San Diego in 2023 include 15 days in November, 14 days in October and September, 13 days in August, 12 days in July, 11 days in June, 12 days in May and April, 15 days in March and 17 days in February. The median represents the time when half the homes sell above it and half below it.
  
  
• C.A.R.’s statewide sales-price-to-list-price ratio was 98.9 percent in January 2024, 99 percent in December 2023 and 96.5 percent in January 2023.The statewide, sales-price-to-list-price ratio on a monthly basis in 2023 was at 100 percent in November, October, September, August, July, June, May and April, 99.1 percent in March, 97.7 percent in February and 96.5 percent in January. 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 6.64 percent in January, up from 6.27 percent in January 2023, according to C.A.R.’s calculations based on Freddie Mac’s weekly mortgage survey data.