September and October Special Events In Coronado – Take a Look!!!! (Thanks Ecoronado!)

SEPTEMBER

20-21 Coronado Speed Festival
Fleet Week’s flagship event is the Coronado Speed Festival, a.k.a “The Race at the Base,” and 2014 promises a full weekend of action-packed high-octane activities and family fun, Saturday and Sunday, September 20-21. The 17th annual contest celebrates the 50th anniversary of the great American automotive icon, the Ford Mustang. All are invited as NASNI throws its gates open wide – an unprecedented opportunity to visit a working U.S. Navy base at the Navy Open House, both days, 10:00 am – 4:00 pm. Coronado Speed Festival features roaring auto races on a live U.S. Navy runway, flyovers, naval ship and air demonstrations, ship tours and family fun for all ages. Military admission and children ages 12 and under are free.

21 Pet Parade and Chili Cookoff
Plan on a hot time in Coronado, on Sunday, September 21st with pets & chili cooks competing for attention at the 3rd Annual Coronado Pet Parade & Chili Cook Off, sponsored by the Coronado Real Estate Association and the City of Coronado. Aspiring and professional chili chefs are being invited to submit recipes and samples of their fiery concoctions for review at the event by a panel of local judges. Pet owners of all ages can also compete for awards by entering their pets in the five different categories, Most Handsome, Prettiest Female, Most Beautiful Rescue Pet, Best Costume & Most Gorgeous Senior (12 years & older). Ending the day with an all the pet’s strutting their stuff in our final pet parade. This event benefits PAWS of Coronado. Admission is free, Promenade Park, 1845 Strand Way. For more info call Caroline Haines – (619)435-5200.

OCTOBER

15 Taste of Coronado
The Coronado Junior Woman’s Club presents,The 4th Annual “A Taste of Coronado, Island fare in the Ocean air” taking place on Wednesday Oct 15th 2014 from 5:00- 9:00 pm. Spend a night indulging your senses and enjoying amazing bites prepared by our local chefs. Take a culinary trip around the world sampling from our local bistro, as you meander along Orange Avenue or take a ride on the complimentary trolley.

26 URT Spook
The 4th Annual URT SPOOK is a night time free surf; URT provides a big light tower and generator to light up the ocean, giving surfers and sepctators a unique night time surfing experience. All surfers are strongly encouraged to come and surf in their Halloween costume and try and scare the ocean. At Shipwrecks Beach, 6:00 – 8:00.

31 Downtown Goes Ghostly
It is time again for witches and ghosts to wander throughout the central downtown. Coronado MainStreet sponsors the popular Downtown Goes Ghostly each Halloween. This year’s hours have not yet been announced but merchants in the central downtown typically welcome trick or treaters in the afternoon from 3:30 PM – 5:30 PM.

Compliments of ECoronado

Housing Market Activity After Labor Day Likely to Be the Srongest in 5 years

Listing prices are dropping and buyers are ready to jump in, according to Redfin’s Housing Market Tracker. A slow down in price growth and a shift from a seller’s market to a more balanced market contribute to this change as we ease into the fall buying season. Price growth was flat across the U.S. for the first time in 5 years, a shift that has been 5 years in the making. “…..the number of homes that sold above list price in July is down nearly 7% to 20.1% from 26.8% a year ago, the biggest drop of the year.” Redfin is predicting prices will continue to lower and may decline through October which would be the first three month decline since fall 2012.

Source: Redfin

“What Do Homeowners Really Want?”

In a word, BIG. According to the U.S.Census Bureau, the average size of a new single-family home built in 2013 is 2,598 feet. And, the larger more luxurious homes, catering to the upper income group, are really coming into their own. “Sale of the priciest 1% of homes are up 21%” so far THIS year. In 2013 the gain was 35.7%. Because of a low supply of lots, and the correlative increase in price because of scarcity, buyers can expect prices to continue to rise. “Builders price homes based on what they are going to have to pay for all the ingredients. If they are starting to pay more for lots, they are going to have to pass that on right away,” reports David Crowe, chief economist at the National Association of Home Builders.

All Cash Deals for Retiring Boomers

Since the beginning of the real estate recovery in 2012, $3.8 trillion of value has been restored to homeowners through gains in U.S. home prices, according to the Federal Reserve. That equity is being used by Americans to pay cash for properties, thereby avoiding the oftentimes onerous lending process. According to Bloomberg, 29% of “non-investment homebuyers used cash, the highest on record for the period…” It makes sense that the majority of the all-cash deals are being put together by baby boomers – America’s largest-ever generation, in the throes of retirement. “In 2012, there were a record 61.8 million Americans over the age of 60″, compared to 46.6 million in 2000. Chief economist of the National Association of Realtors, Lawrence Yun reports: “Cash purchases are on the rise because older homeowners who have decades of home-equity accumulation don’t want the hassle of a mortgage. With the economy improving and the stock market at record highs, boomers are the ones driving the market.”
Source: Bloomberg