Drew Mobile: 858-220-3004 | Drew Email: drew@gellens.com

Christy Mobile: 858-220-3003 | Christy Email: christy@gellens.com

Archives

San Diego Short Term Vacation Rentals

San Diego Short Term Vacation Rentals Update May 2022

San Diego City Council has approved the California Coastal Commission (CCC) recommendations to the STVR ordinance. This approval takes San Diego another step closer to regulating short term vacation rentals in San Diego. Although no specific date has been announced as to when homeowners can apply for a license, the SD City plan (as verbally stated in the meeting on May 17, 2022) is to start the application process in Fall 2022, licenses issued by the end of 2022, and implementation/enforcement beginning in Spring 2023. Go to SD City website for more information. https://www.sandiego.gov/treasurer/short-term-residential-occupancy

If you are not familiar with the current STVR Ordinance or the new recommendations, we suggest looking on the San Diego City website and signing up for notifications. If you currently own a vacation home in San Diego, this ordinance and knowing the process to obtain a license is going to be important for you. Don’t wait until the last minute to get everything together. If you are listing your home through a platform, they will also be following the new ordinance and require a license to list a home. https://docs.sandiego.gov/municode/MuniCodeChapter05/Ch05Art10Division02.pdf

What happens if you don’t get a license to operate a STVR in San Diego? Longer term rentals are an option, or taking advantage of this sellers’ market and using a 1031 Exchange to purchase another investment property in an area that is not requiring a license are options. Mission Beach will have a separate lottery that will also be following the ordinance, but in for Tier 4 https://docs.sandiego.gov/municode/MuniCodeChapter05/Ch05Art10Division01.pdf

If you have questions on the San Diego real estate market, we are here to chat.

Drew & Christy Littlemore are realtors with BHHS in La Jolla on Maxine & Marti’s Team, one of the top teams in San Diego. They represent buyers and sellers throughout San Diego County. Drew Littlemore is a La Jolla native as well as co-founder & owner of Headhunter Suncare, one of the leading sunscreen brands for surfers. Christy Littlemore has lived and worked in La Jolla for over 20 years, selling real estate since 2012. Prior to real estate she taught elementary and middle school in the San Diego Unified School District.

Want to receive our Housing Market Newsletter and find out what’s happening in the La Jolla & San Diego market sign up here: https://bit.ly/39zQo6P

Want to know the value of your home? Get three estimates in just minutes: http://yourlajollahomevalue.com/

Drew & Christy Littlemore

7910 Girard Ave Ste 9

La Jolla, Ca 92037

858-220-3004

Drew@gellens.com

858-220-3003

christy@gellens.com

Interest Rates 2019 vs. 2022 & Home Loans

Interest Rates are rising. Did you know that interest rates for home loans in 2019 were just about 5% before Covid? They were. So yes, the interest rates are going back up to where they were just before Covid. 2019 was a great year in real estate in California. Home prices were still rising even though we were seeing interest rates at around 5%.

Now about home loans: 30yr Fixed Conforming at 5% with a 25% down payment 15yr Fixed Conforming at 4.125% with a 25% down payment 30yr Jumbo Loans are 4.875% with a 25% down payment VA & FHA are low down payment options. VA options are for U.S. Veterans, only. For more information https://www.phmloans.com/rates

#interestrates #homeloans #sandiegorealestate #realestatenews #Lajolla #Housingmarket #housing

Drew & Christy Littlemore are realtors with BHHS in La Jolla on Maxine & Marti’s Team, one of the top teams in San Diego. We represent buyers and sellers throughout San Diego County. Drew Littlemore is a La Jolla native as well as co-founder & owner of Headhunter Suncare, one of the leading sunscreen brands for surfers. Christy Littlemore has lived and worked in La Jolla for over 20 years, selling real estate since 2012. Prior to real estate she taught elementary and middle school in the San Diego Unified School District. Want to receive our Housing Market Newsletter and find out what’s happening in the La Jolla & San Diego market sign up here: https://bit.ly/39zQo6P

Want to know the value of your home?

Get three estimates in just seconds: http://yourlajollahomevalue.com/

Drew & Christy Littlemore
DRE#01935574 DRE#01913461
7910 Girard Ave Ste 9
La Jolla, Ca 92037
858-220-3004

http://littlemoregroup.com

San Diego Local Real Estate Market Updates February 2022

Mission Beach

Mission Beach-San Diego, Ca

 

What’s Happening in the Market?

We are still in a very strong sellers’ market with low inventory driving prices up. Your home just may be making more money than you are in San Diego. The average income in San Diego is $68,000 p/year with the average median home increase in appreciation of value at $92,000 this year.

February 2022
Local Real Estate Market Updates (YTD)

La Jolla 92037
Single Family Homes
Median Sales Price
2021: $2,385,000
2022: $3,380,000
+42%

Mission Beach/Pacific Beach 92109
Single Family Homes
Median Sales Price
2021: $1,562,500
2022: $1,923,750
+23%

University City 92122
Single Family Homes
Median Sales Price
2021: $1,090,000
2022: $1,485,000
+36%

Downtown 92101 
Townhouse-Condos 

Median Sales Price
2021: $587,000
2022: $700,000
+19%

If you would like any market update for a specific San Diego location, please let us know

Who You Work With Does Matters!
Contact Us Today to Create Your Selling Plan!

Drew & Christy Littlemore
858-220-3004  858-220-3003
www.littlemoregroup.com