Bldg permits increase for San Diego County homes.

Finally the County has decided to issue house permits!! About time. San Diego county permits rose to their highest level in two years. This leads us to conclude that builders are going to create jobs and the economy is inching its way forward in a positive direction. Nevertheless, we are not out of the woods yet. This is still the second worst year for building permits (last year being the worst). San Diego median price hit a low in March 2009 ($326,830) and prices are now 21.7 percent higher than that low, still far off its peak of $622,380 in May 2006. (Data from C.A.R, California Association or Realtors). For more information on buying, selling, or renting out an income property in San Diego, please call Frank Rashid's cell phone at (858) 676-5250 or email him at rashid@rashidrealty.com. More on this within the next couple of weeks.

Summer is off to a great start

June has been a very successful month in terms of closings. Prices have responded to a change in marketplace. Average sales price were high and interest rates are still at a low...a 50 year low and that is encouraging the prices to hold. New opened business dipped in June. We are anticipating inventory levels to increase as short sale inventory builds up. Sellers will need to be educated to remain competitive. For more information on buying, selling, or renting out an income property in San Diego, please call Frank Rashid's cell phone at (858) 676-5250 or email him at rashid@rashidrealty.com. More on this within the next couple of weeks.

Positive Outlook is Refreshing...

We have gotten used to the news about Real Estate Market not being favorable so the change in print headlines is refreshing. California is leading the real estate market out of the recession with San Diego being one of the biggest leading areas. Union Tribune reported 14.7% increase in resale prices and activity over the past months have been brisk and being in the trenches, I could sense this urgency. Loan interest rate is cooperating even as lending standards remain tight. Once the tax credits expire, we should anticipate a slowdown. Foreclosure and short sale inventory is still allowing many investors/first time buyers to acquire great homes at good prices. For more information on buying, selling, or renting out an income property in San Diego, please call Frank Rashid's cell phone at (858) 676-5250 or email him at rashid@rashidrealty.com. More on this within the next couple of weeks.

Consumer Confidence is coming back

Current market conditions are seeing a definitive pickup in sales. The general first quarter numbers were off the charts given that we have just come out of the woods with the recession and all. This tells us that consumer confidence is coming back. The First Time Buyer credit helped drive the market but more importantly, we have started seeing more equity sales which are now coming back and this will help further the market to a better place. California tax credit is anticipated to help in keeping the sales going through end of June. Investment opportunities continue to remain available. Low interest rates + Good monthly rents. Consider exchanging a residential rental condo into a multiplex or combine forces with a friend and partner with each other to pick up a multifamily unit residential income property. For more information on buying, selling, or renting out an income property in San Diego, please call Frank Rashid's cell phone at (858) 676-5250 or email him at rashid@rashidrealty.com. More on this within the next couple of weeks.

#1 in Customer Service

Frank Rashid named and awarded the 2010 FIVE STAR Real Estate Professional Award for highest and best in Customer Satisfaction by the San Diego Magazine!!

Affordable Property Management Services

We continue to offer a competitive rate for our services at between 7-8% of gross rent collected. We are having management clients coming to us from other "bigger" names because of the personalized attention we are able to give.

We are focusing in developing our market share in San Diego's north county inland community but will take management responsibilities outside if it is cost effective for both us and the landlord.

With gas prices the way they are going, it becomes even more critical to keep landlords operating expenses low and be efficient in scheduling repairs.

We are available 24-7 and have a storefront office (not working out of the bedroom or a converted garage) in a central convenient location where tenants can drop off rent checks.

--Rashid Realty
www.rashidrealty.com
propmgmt.rashidrealty.com
858-271-9500 - office

Rents on the rise in San Diego

Rental market is hot these days. We rented out a 4 br in 4S Ranch in Rancho Bernardo (a suburb of San Diego, CA - with zero (yep! absolutely zero) vacancy between old tenants vacating and new tenants taking possession.

We are seeing a 4% increase in monthly rents for our properties and are keeping with increase in CPI.