When it comes to housing data, sometimes you have to look past the headlines. December’s Housing Starts data offers a terrific illustration of why.

Each month, the Census Bureau tallies Housing Starts for the month prior. A “housing start” is a home on which construction has started.

The Housing Starts report is separated by property type. There is a count for single-family homes; a count for 2-4 unit homes; and a count for buildings of 5 units or more, a category including apartments and condominiums.

In December, as reported by the government, Housing Starts fell 4 percent nationwide overall. This runs contrary to recent strength in housing and the story was quickly picked up by the press :

• U.S. Housing Starts Fall More Than Forecast (BusinessWeek)
• U.S. Housing Starts Fall (MarketWatch)
• December Housing Starts Are Worse Than Expected (Fox Business)

Now, although these headlines are factually true, they’re also are a little bit misleading.

Housing Starts did fall 4 percent last month but that was for all Housing Starts, across all three property types. Data like this is somewhat irrelevant to home buyers in California or anywhere else nationwide.

Few buyers purchase 2-4 unit homes, and almost nobody purchases an entire apartment building. Rather, it’s the Housing Starts reports’ “single-family” tally that matters because that’s the home type that the majority of home buyers purchase.

In December, for the fourth straight month, Single-Family Housing Starts increased.

Single-family housing starts climbed 4 percent last month to 470,000 units on a seasonally-adjusted, annualized basis. This is the highest number of Single-Family Housing Starts since April 2010 — the last month of last year’s home buyer tax credit.

The Single-Family Housing Starts data is the latest in a series of data that point to a housing rebound nationwide. New Home Sales, Existing Home Sales, Pending Home Sales and Homebuilder Confidence has each posted multi-month highs and all are poised for strong gains into 2012.

If you’re planning to buy a home in 2012, consider buying in between now and March rather than at some point later. San Diego home prices — and mortgage rates- are likely to move higher.

Foreclosure filings are fewer these days, according to foreclosure-tracking firm RealtyTrac.

In December 2011, the number of foreclosure filings nationwide fell 9 percent from the month prior. Not since November 2007 has foreclosure activity been this sparse across the country.

The drop does not appear to be seasonal, either.

Last month’s foreclosure filings were down 20 percent from December 2010 with “foreclosure filing” defined to include any one of the following foreclosure-related events : (1) The serving of a default notice, (2) A scheduled home auction, or (3) A bank repossession. As a result of a unexpectedly strong year-end, 2011′s annual foreclosure rate was the lowest in 4 years.

One reason why the year may have closed so strongly is that Nevada, California, Michigan and Arizona — four states typically associated with high rates of foreclosures — each posted big drops in foreclosure filings between November and December, plus double-digit drops between December 2010 and December 2011.

In fact, among the country’s top 10 states for foreclosure activity, nine showed an annual foreclosure filing reduction.

Only Delaware worsened.

It’s also noteworthy that just 4 states accounted for half of last month’s total foreclosure filings.

• California : 25.8 percent of all foreclosure filings
• Florida : 12.0 percent of all foreclosure filings
• Michigan : 6.4 percent of all foreclosure filings
• Illinois : 6.2 percent of all foreclosure filings

Foreclosures are heavily concentrated, in other words. By contrast, the last 1% of activity is spread across 14 states.

As a Oceanside home buyer — first-timer or investor — foreclosures can be a great way to find value.

According to the National Association of REALTORS®, distressed homes typically sell at “deep discounts“ as compared to like, non-distressed homes. However, when you buy a foreclosure home from a bank, it’s different from buying a home from a “person”. Purchase contract negotiations are different and months may pass before your closing is approved.

If you’re buying foreclosure, therefore, seek the help of a professional real estate agent. Real estate agents have experience working in the process-heavy world of foreclosures and can help you come out ahead.

The higher Fannie Mae, Freddie Mac, and FHA conforming loan limits of $729,750 expired Oct. 1, when it was reduced to $625,500.  The passage of H.R. 2112 provides for an extension of FHA-insured mortgages at the higher level through December 2013.  It also provides for a short-term extension of the National Flood Insurance Program (NFIP) through Dec. 16, 2011.  C.A.R. and NAR strongly urge Congress to work on a five-year NFIP reauthorization bill to provide certainty and avoid further disruption to real estate markets.

“C.A.R. is pleased the Senate and House were able to come to a reasonable compromise on extending the FHA loan limit to ensure affordable home financing for middle-class buyers,” said 2012 C.A.R. President LeFrancis Arnold.  “However, we are disappointed that the Senate and House could not agree on increasing the loan limits for Fannie Mae and Freddie Mac, especially since the Senate bill included a premium on high-cost loans that protected U.S. taxpayers from footing the costs.”

C.A.R. and the NAR have long advocated making permanent higher loan limits. The San Diego conforming loan limit is currently at $546,250. If you are looking to get pre-qualified for a San Diego home loan, contact me for a reputable lender referral or visit my preferred lender through our Summit Realty Group portal HERE.

The HomePath Online Offers Program is designed to ease and create transparency during the offer submission process with the following features:

-An easy to use, self-service offer submission system that can be assessed through HomePath.com
-A transparent offer process that keeps Selling Agents informed of the status of their clients’ offers on HomePath properties listed on HomePath.com
-Improved communication between the Selling Agent and the Listing Agent regarding offers on HomePath properties listed on HomePath.com

The HomePath program offers unique financing options for first time buyers and investors. If you are looking for San Diego first time buyer programs or are having a difficult time getting you offer accepted due to your financing, contact Travis Breton today and ask about the HomePath program. With as little as 3% down you can be in your new San Diego home in as little as 30 days! Hard to finance San Diego condos are also financeable with as little as 3% down through the HomePath program.

• A quaint enclave of 27 Single Family Residences
• Just minutes from one of the most charming town center locations of coastal Carlsbad
• One of the best coastal climates in Southern California
• Less than 5 miles away from Carlsbad outlet center with over 50,000 feet of retail shop and restaurants
• Centrally location approximately 35 miles South on the I-5 to Down Town San Diego

The classic Santa Barbara-style architecture offered by these Carlsbad luxury homes is accentuated by dramatic entry courtyards, welcoming front porches and balconies and detailing such as rounded archways, porticos and Porte Cocheres. The Tides at Carlsbad offers 4 distinctive floorplans ranging from approximately 2419 to 2978 sf.

Quick move in homes at The Tides Carlsbad are currently available. Contact me today for information about this new homes community or about buying Carlsbad real estate.

The Tides new homes in Carlsbad currently has two quick move in homes available. Just in time for the holidays! Contact me today for a tour of The Tides Carlsbad or for more information about buying Carlsbad real estate.

Foreclosure homes are a hot market throughout California — and supplies are ramping up.

According to foreclosure-tracking firm RealtyTrac, October’s foreclosure filings rose 7 percent to 231,000 filings nationwide.

A “foreclosure filing” is any one of the following foreclosure-related events : A default notice on a home; a scheduled auction for a home; or, a bank repossession of a home. Because of this definition, a single home can account for up to 3 foreclosure filings — one from each category. 

Because of this, we may glean more relevant insight into the foreclosure market by separating RealtyTrac’s foreclosure report into “event types”.

• Default Notices : Up 10% from September 2011; Down 31% from October 2010.
• Scheduled Auctions : Up 8% from September 2011; Down 38% from October 2010.
• Bank Repossessions : Up 4% from September 2011; Down 27% from October 2010.

These breakdowns suggest that, although improved as compared to last year, the foreclosure market is growing. At least, it’s growing in some parts of the country. We can’t forget that — like everything real estate — home foreclosures are a local phenomenon. 

In October, just 4 states accounted for more than half of the country’s foreclosure filings. Those four states — California, Florida, Michigan and Illinois — represent just 26% of the U.S. population.

Even on a per household basis, the figures remain disproportionate :

• Top 10 Foreclosure States : 1 foreclosure per 341 households, on average
• Bottom 10 Foreclosure States : 1 foreclosure per 7,434 households, on average

The nationwide foreclosure rate was 1 foreclosure per 563 households.

As a home buyer, Carlsbad foreclosures are worth watching. They account for 18% of home resales nationwide and, in some markets, can be bought at steep discounts versus a comparable “non-distressed” home. That is part of their appeal, in fact.

But just because Carlsbad foreclosure properties can be a “deal”, it doesn’t mean you should rush to buy one. Buying a foreclosure home from a bank is different from buying a non-foreclosed home from a “person”. The contracts and negotiation process are different, and foreclosed homes are marketed in an as-is condition.

“As-is” means “this home may have defects” that the seller in not willing to remedy.

Therefore, if you plan to buy a Carlsbad foreclosure home, talk with a real estate professional first. You can learn a lot about the housing market online, but with respect to writing an offer on a property, you’ll want an experienced Carlsbad real estate agent on your side.

It’s something we’d all just as soon avoid, but there’s no getting around it: We’re all getting older. And that’s something worth keeping in mind as you plan and remodel your home. The concept of “aging in place” — making changes to your home to make it more comfortable and more adapted to your needs as you age — is one that’s been gaining a lot of popularity, especially in these tough economic times.

There are a number of things you can do, large and small, that will help make your home work for you instead of against you as you age. And many manufacturers are taking note of this trend as well, offering a wide range of innovative and attractive products so your home can also remain every bit as stylish as you’d like.

Doors
Doors can be one of the biggest obstacles to easy movement in the home. Consider opening up smaller doorways to create 34-inch or 36-inch doorways wherever possible. Another alternative is to use a pair of 18-inch or even 24-inch pocket doors to make a nice wide opening that’s also very attractive.

To make doors easier to open, replace doorknobs with levers. Replace exterior steps with simple ramps, or combination step/ramps. With more extensive remodeling projects, also consider making hallways wider — ideally 48 inches.

Toilets
Many companies are now offering “comfort-height” toilets, which are about 2 inches taller than standard toilets. These are easier to get on and off of, especially for people with sore backs or weaker legs. Wherever possible, plan on more free space in front of and to the sides of the toilet to allow for easier movement, especially for a walker or wheelchair.

Grab bars
Grab bars are a very useful addition in the bathroom: in the tub, shower and around the toilet. For safety and security, they need to be properly anchored to solid wood, so if you’re remodeling your bathroom, be sure to install some blocking in the walls; it’s a simple and inexpensive thing to do, even if you’re not planning on installing grab bars right away.

Don’t like the institutional look of chrome grab bars? A growing number of companies are offering them in colors, ranging from bright white to shiny black and everything in between, in both acrylics and powder-coated metal. There are also some sleek new styles available.

Tubs and showers
There are some simple things you can do to make using your tub or shower easier to use. In addition to grab bars, a seat can be a real plus. These can be portable, or one of the fold-up versions that are attached to the wall. There are many different styles available, in everything from plastic to very stylish teak.

Lever-handle controls are easier to grip and turn than ones with smooth knobs. That applies to the sinks as well as shower and tub controls. Think about where you’ll be standing — or sitting — in the tub or shower, and place the controls at a convenient location. Make sure that you install anti-scald valves, and install hand-held spray heads. Also, install a shelf at a convenient location for soap and shampoo, to prevent dangerous reaching or stooping over.

Barrier-free shower stalls are well worth considering if you’re redoing your bathroom. One company I spoke with at the recent Pacific Coast Builders Show was demonstrating a very innovative, dam-free shower pan that’s installed on the floor, then sealed in place with a membrane. The entire bathroom floor and pan are then tiled over, creating a seamless, barrier-free installation that’s sleek, attractive and anything but institutional. You can check them out at www.designwithoutbarriers.com.

Another innovative idea comes from the folks at Kohler, with their new Elevance bathtub. This truly unique tub has a vertically sliding wall in front. The wall drops down to create a chair-height seat for easy access into the tub. Sit down, swing your legs in, then raise the wall — it takes only 5 pounds of force to lift. Fill the tub, and the special double seals snap into place to seal the wall against leakage. When you’re done enjoying your bath, drain the water, then lower the wall for easy access to get out. You can see it here and also get a link to a video of it in action.

Appraisers are trained professionals. First, they derive a base for your Carlsbad home’s value based on the recent sales prices of homes that are comparable to yours in terms of bedrooms, bathrooms, style, and square footage.

Then, accounting for features and amenities that make your home different, the appraiser applies “adjustments” to that base value.

This methodology is called the “Sales Comparison” approach and the result is your Carlsbad home’s appraised value.

It’s the most common appraisal method used by lenders.

As a homeowner in Carlsbad , you can’t affect the sales prices of your home’s comparable properties, but you can help your appraiser understand how your home stands apart from these homes. This, in turn, can affect your home’s adjustments, resulting in a higher appraised value.

With home appraisals, every valuation dollar can matter. With that in mind, here are a few tips for maximizing your Carlsbad home’s appraised value :

1. Be home for your appraisal so you can answer the appraiser’s question, if there are any.
2. Mention any new roofing, flooring, HVAC, plumbing, or windows you’ve installed since purchase.
3. Don’t mention projects or repairs you’re “about to undertake”. Appraisers don’t credit for unfinished projects.
4. Make minor household fixes prior to the appraisal (e.g.; leaky sink, running toilet, peeling paint). 
5. Present a tidy home. This can contribute to a higher “overall condition” adjustment.

Lastly, schedule the appraisal for a time that is convenient for your entire household. An appraiser needs to see, measure, and take photos of every room in your Carlsbad home. If a room’s door is closed because of a resting child, for example, the appraiser may need to schedule a second appointment to complete the appraisal, and that can raise your appraisal costs.

According to the National Association of REALTORS®, the Pending Home Sales Index fell 5 percent last month. September marks the fourth consecutive month in which the index has dropped. 

The Pending Home Sales Index is a monthly index which measures the number of homes under contract to sell, but not yet closed. As such, it’s among the few “forward-looking” housing indicators; a data set meant to predict future home sales. 

80% of homes under contract close within 2 months so, if the September Pending Home Sales Index is to be believed, we should expect home sales to decline through October and November. 

And that’s before we account for cancelled contracts.

Also from the National Association of REALTORS®, we learn that 18 percent of homes under contract failed to close in September. This is double the failure rate from September 2010 and it, too, should drag Existing Home Sales volume lower this fall.

On a seasonally-adjusted, regional basis, the Pending Home Sales Index fell everywhere. 

• Northeast Region: -4.7% from August
• Midwest Region : -6.2% from August
• South Region : -5.5% from August
• West Region : -2.1% from August

For home buyers and sellers, though, regional data remains too broad to be useful. Housing markets are local, meaning that each block on each street on each city has its own distinct economy. When 9 states are grouped into a single “region”, it’s neither helpful nor relevant to people making buy/sell decisions.

That said, the Pending Home Sales Index remains important because it’s about housing, and housing is a keystone of the U.S. economic recovery.

The market looks ideal for buyers. Home prices are rising, but slowly; and mortgage rates remain near rock-bottom levels. Home affordability is high and should remain that way for the next few weeks.

If you’re shopping for a home, it’s an excellent time to go under contract.