Home Starts Up 10.8 Percent in 2015

Despite a dip in housing starts in December, total housing starts were up 10.8 per cent, or 1.11 million, compared to 2014. Quicken Laons Vice President Bill Banfield: “All in all, we’ve made significant gains in 2015 as we closed out at the strongest calendar year for housing starts since 2007 …..” Based on a raise in housing permits, realtor.com Chief Economist Jonathan Smoke reports, housing starts are on track to grow to 1.23 million in 2016, an increase of 11 percent over those reported for 2015.

Current Coronado Statistics

The average price per square foot increased 15.35% compared to the same period last year – an increase of $845.  From Oct 15 to Jan 16 the median sales price was $1,567,500, based on 38 home sales.  Compared to the same period one year ago, the number of sales decreased 11.6% while the price increased 45.8%, or $492,500.  The average listing price for homes for sale is $2,366,131 which represents a decrease of $85,149, or 3.5% compared to the prior week. According to Trulia, there are currently 120 resale and new homes in Coronado.

Source:  Trulia

Start a New Holiday Tradition

Coronado Flyer

“What Unexpected Twist Almost Cost the Sale?”

Real estate agent Kevin Harris tells of an experience during a final walk-thru, during which the seller, who had 21 cats,  says she will not close unless the buyers agree not to disturb an area of the yard where she had buried some cats.  She didn’t want their spirits disturbed.  Kevin writes “don’t know which was scarier; hiding the looks of my clients or seeing cat ghosts.”  Happy Halloween!

On a more serious note, buyers, please take note.  Deborah Dade writes that a few days before closing, the buyer, decided to retire.   She gave a two week notice to her employer so when the lender called to verify employment at the last minute, she didn’t have any!!!  She almost lost the loan! Fortunately, they were able to close before she actually retired.  She had good retirement and would qualify for the home purchase anyway, but scary to think they would have had to start the whole loan process over again.

Source:  RIS Media