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As we navigate the fall real estate market, it's critical to stay informed about the latest trends in the housing market. Now more than ever, if you want to get your home sold this year, your home needs to be priced correctly. Mortgage interest rates are at a 20 year high as they are approaching 8%. The increase in mortgage rates, soaring sales prices, and a shortage of available homes for sale have significantly affected the market. Compared to the spring and summer real estate market, the current fall market has cooled. We have noticed more price reductions on homes that need updating and these homes are experiencing more market time. Desirable homes that are priced appropriately are still receiving multiple offers after a weekend of open houses. As the dynamics of each local market is specialized, contact us to discuss your unique home buying or selling situation. Read on for local events in October, real estate news, and discover lifestyle home tips. |
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| Housing Market Predictions for 2023: When will home prices be affordable again? |
| Though winter may still be months away, housing market activity is already cooling due to eye popping home prices and interest rates may be on the verge of a deep freeze. The national average 30-year mortgage rate rose to a 23-year high of 7.49% in the first week of October, according to Freddie Mac. Given current rate conditions, it’s no wonder that year-over-year existing home sales sagged for the third consecutive month, slipping by 0.7%, with all four major U.S. regions posting declines, according to the National Association of Realtors (NAR). Nonetheless, the housing market remains competitive for prospective buyers. With many homeowners “locked in” at low interest rates and unwilling to sell, demand continues to exceed for sale inventory. |
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| | Oktoberfest in Ocean Beach |
| Enjoy live music by local and nationally touring artists, contests, giveaways, beer garden, food, and more. |
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| | La Jolla Art + Wine Festival |
| The annual La Jolla Art + Wine Festival is returning to the streets of La Jolla Village, bringing on the prestigious artists and wine vendors paired with a perfect coastal backdrop. This event is family friendly and completely free to attend. Come say "hi" at our Compass tent too! |
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| | | Pumpkin Station is bringing the autumn energy all over San Diego for you and your family to participate in finding the perfect Jack-O-Lantern no matter where you live. Locations will be available in Rancho Bernardo, Bonita, Missions Valley, Del Mar, and National City. |
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| | The 12th annual Taste of Point Loma at San Diego Yacht Club will be held on Thursday, October 19th, from 5PM-8PM in conjunction with the International Masters Regatta weekend. There will be dozens of local food and drink vendors from the Point Loma community. |
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| Lifestyle Tips and Tricks |
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Free San Diego Attractions for Kids in the Month of October |
| San Diego is a kid's paradise, especially in October. The annual Kids Free San Diego program is back. From Oct. 1st through the 31st, kids ages 12 and under can get into dozens of museums and attractions throughout San Diego for free. |
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| 10 Ways to Maximize Square Footage in a Small Bedroom |
| The secret to living large in a tiny bedroom is in the details. |
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| | | Bay Park | Listed for $2,295,000 OPEN HOUSE OCTOBER 8th from 1PM-4PM |
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| Located at the apex of the hill on one of the most premier streets in coveted Bay Park, this stunning home boasts panoramic bay and ocean views. Enjoy sunsets, fireworks, ocean breezes, and close proximity to Mission Bay. This 2,922 sq. ft., 4 bed, 4 bath upgraded home was extensively remodeled with a large second story addition and spacious view deck. Contact us to schedule a private showing of this special property. |
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| | OPEN HOUSE October 7th & 8th from 12PM-2PM |
| | Urban oasis in the heart of North Park nestled in a gated community with a lush tropical courtyard. This remodeled one bedroom, one bath upstairs corner unit condo is generously sized and features a stackable washer and dryer and a one car attached garage in addition to one parking space. The living room has vaulted ceilings with wood beams and a cozy electric fireplace. The remodeled kitchen includes stainless steel appliances and granite countertops. The breakfast room has french doors that lead to the balcony. Conveniently located within walking distance to restaurants, cafes, breweries, and nightlife. Don’t miss the opportunity to live in one of the most walkable neighborhoods in San Diego and enjoy all that North Park has to offer! |
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| | Mission Hills | Listed at $1,475,000 |
| | We are so excited to get our buyer's offer accepted on this beautiful home in Mission Hills! This updated 1920's 3 bedroom, 2 bath, 1,618 sq. ft. home features an open concept floor plan, updated kitchen, and spacious primary bedroom with remodeled en-suite and french doors that lead to a large covered porch. The finished garage features a kitchen, bathroom, and modern glass garage door that opens to an indoor/outdoor entertaining space. The backyard features pavers, turf, and a treehouse! |
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| 12553 El Camino Real Unit A |
| Carmel Valley | Sold for $1,310,000 |
| | We are so happy for our sellers of this beautifully remodeled corner unit townhome in the best location of the Crest at Del Mar! We received multiple offers on their home and we negotiated an offer $60,100 above list price! This 3 bed, 2.5 bath, 1,564 sq ft home features dramatic vaulted ceilings and has an abundance of natural light through a multitude of windows. Resort like amenities include lap pool, two spas, and a gym in a well maintained community. Located in a top rated school district and minutes to Del Mar beaches, Torrey Pines hiking trails, and One Paseo. |
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Maximize the value of your home with Compass Concierge. |
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| | layne.harrison@compass.com rachel.harrison@compass.com |
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Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. |
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