Glenn Olson MBA Broker Realtor®
San Diego, California
On-Line Real Estate
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Glenn Olson MBA Broker Realtor® |
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San Diego, California |
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| "Give
Your Idea A Home" San Diego Area News
What's Going On With
Insurance? CAR 2004 Forecast |
January,
2004
Loan Market 
The U.S. Dept. of Housing and Urban Development (HUD) recent announcement. The Federal Housing Administration (FHA) has increased its single-family home mortgage limits. Effective Jan. 1, 2004, FHA will insure single-family home mortgages up to $160,176 in low-cost areas and up to $290,319 in high-cost areas. That means conforming loans will increase. |
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Real Estate News & Resource Links Realty
Times News -
News |
Economic
Outlook San Diego “Despite the high-tech slowdown, business prospects in the West continue to shine.” San Diego was ranked #1 in the 4th annual Forbes/Milken Institute Best Places for Business and Careers. Why? Because of it’s industrial diversity, a mix of strong companies within a broad technology base, one of the largest collections of biotech companies, a ready supply of students from local colleges and universities, and based on a 5 year GDP growth study. It showed a 21% job growth, and 86% growth in High-Tech. Source – Forbes Magazine Online |
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Mortgage
or Creditline? |
This is not good for long term loans (over 2-3 years). Better to check with local credit union, savings and loan, bank and brokerage firm for good deals. Also, you may get a lower rate with automatic payment from your checking account. If considering a credit-line, look at the fees (intial, monthly and early payment). Source - The Wall Street Journal 9/24/2003 |
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Home
sales in 2004 will continue strong, albeit slower than
2003. Only 23% of population can afford median price home,
due to potential higher interest rates and decline in high-paying
jobs, 15% in San Diego. Condominium conversions
will be more popular, up to 3,000 in 2003. Average vacancy
rates are predicted to stay under 4.5% in 2003 and 3.5%
in 2004, which means rent growth of around 2.6%
15-yr
Fixed Loan @ 4.75% in San Diego 1/11/04