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Serramar Homes Market Update Q1 2019

Map of Serramar homes la mesa

Now that the first quarter is over, I have compiled a Market Report for Serramar and wanted to provide you with the latest information regarding the community. Take a peek at the video and then if you would like a copy of the report, scroll down below the video and request a copy.

Niko Discusses the Market Updates for Serramar

Other Info

Click here to view all available Serramar homes for sale

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JUST SOLD THIS BEAUTIFUL SERRAMAR HOME!

It was a true honor for my team and I to work with such an amazing family!
They tirelessly give to this country with their service in the military and we wish them all the best on their new adventure!

If you have family or friends who must relocate, please call us today! We are happy to talk with them & create their 2016 personalized strategy plan regarding all their Real Estate needs.

Office: 619-618-1966

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OPEN HOUSE! 7805 Eastridge Drive in Serramar La Mesa

OPEN HOUSE this Sunday, November 15th, from 1-3pm.
Come Join us at our beautiful new listing in Serramar La Mesa
7805 Eastridge Drive

Newly Listed!
Address: 7805 Eastridge Dr. La Mesa, CA 91941
Listed at: $789,000 | MLS#: 150059753

  • Rarely Available Plan 6 | 3,384 square feet
  • Spacious Corner Lot
  • 4 Bedrooms | 3 Bathrooms | Downstairs Bonus Room great for an office, playroom, man-cave, etc. | Upstairs Bonus Room/Second Family Room | Office/Craft Nook
  • This home has been upgraded with high quality synthetic turf front and back, features solar panels (leased) and a reverse osmosis water drinking filtration system. The spacious back yard is perfect for play or entertaining and with no neighbors behind or to the West, this home offers abundant privacy.


This rarely available Plan 6 is the one you have been waiting for! Master Bedroom with ensuite master bath & walk-in closet downstairs, formal dining room, eat-in kitchen with granite counter tops, center island, wine fridge, double ovem and butler’s pantry/bar area. This home also features a brick fireplace in the family room. Upstairs there is a large bonus room/second family room, office/craft nook and 3 additional bedrooms. Situated on an oversized lot, the large back yard features a covered patio, spa and ample side yard.

Check out the photo gallery and call our office today to schedule your own private showing! Office: 619-618-1966

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Protect Your Home, Plus Save Time & Money!

This is the perfect time to prepare your beautiful Serramar home for El Nino!
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Why Clean Your Home’s Rain Gutters?
 We are glad you asked!

Early fall is the ideal time for San Diego residents to clean their home’s rain gutters; especially this year before El Nino hits the county!

Most San Diego county professionals recommend gutter cleaning at least once a year, at the beginning of fall. (However, depending on various factors, such as the amount of trees surrounding your home, you may need to clean your gutters twice a year or even possibly each quarter.) The correct timing of cleaning your home’s gutters can significantly help prolong their lifespan and minimize other damage.

1. PROTECT YOUR HOME & ITS VALUE!
Clogged gutters can easily result in excess water pouring over the gutters and running down the siding of your home rather than out the downspout. This can result in expensive damages to your home’s siding as well as landscaping. Additionally, a clogged gutter can lead to a rusted gutter that will require replacement not to mention the possibility of little critters nesting in gutters filled with leaves and other debris.

2. SAVE YOURSELF TIME!
Clean out your home’s gutters now and save time that investigating a problem, repairing & replacing would consume, down the road. Do it once this fall and save yourself a headache thinking about it in the months to come.

3. SAVE YOURSELF MONEY!
As with saving time, if you pay to have a licensed professional clean your home’s gutters now, you will reap the benefit of your return on investment with gutters that work well, protect your home and don’t create more havoc as El Nino hits San Diego.

We hope you enjoyed these Quick Tips. If you did, please SHARE this POST with your friends and encourage them to protect their home, time & money!

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If you do decide to clean your gutters yourself, please remember to put safety first. Here’s what you need:

Gloves: Hand protection is critical due to possible sharp objects in the gutter.

Dust mask: Dried, clogged gutters will be very dusty; you don’t want to breathe this dust.

Safety goggles: Debris may fly back at you when cleaning, so wearing safety goggles is a must.

Ladder: A ladder is needed to access the gutters. (And you should always have someone nearby to hold the ladder.)

Garden trowel: It is used to scoop out the debris

Safely set up the ladder to access your gutter. Put on the gloves, dust mask and safety goggles. Begin scooping out the debris with the garden trowel. Some debris may be stuck, and it will take some effort to remove it. Be careful not to damage the gutter. After the debris is removed, use a garden hose to wash out the remaining dirt.

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Serramar Homes La Mesa Market Update

It has been amazing to see the changes to the real estate market in general and more particularly within Serramar since the beginning of 2014.
In the first quarter the combination of lack of available inventory, low interest rates and a general sense of confidence in the markets overall resulted in double-digit price increases for existing homes throughout the area.

Serramar

Homes in Serramar have finally turned a pivotal corner, both in market psychology as well as valuation. Since most of the homes were built and sold at the peak of the real estate bubble, there was no place to go but down. Values for Serramar homes bottomed out, some of them losing as much as half of their purchase price. During the last five-ish years we have seen a measured reduction in distressed sales which has supported a firming of prices and slow resurgence of home equity.

Serramar Homes for Sale

Here is the good news. As of today, there are 5 Active listings in Serramar – none of which are distressed sales. This is a great signal for the overall health of the market. I anticipate that moving forward we will continue to see equity sales and a steady firming of prices.

Market Trends

Below is a chart of the Median homes prices and inventory levels in La Mesa (91941). Since the beginning of the year we have a generally positive rise in Median home prices. The Most recent decline is due to additional inventory coming to market. See next chart below.

 

As you will notice, inventory was critically low in the first quarter, resulting in the spike in Median prices. The market is cyclical and in response to low inventory, seller’s bring homes to the market to capitalize on the increase in prices. In turn, price is tempered by the increase in choice.

What next?

If you are interested in a more in-depth conversation or want a deeper dive into what is going on in the marketplace, head on over and grab one of my detailed Market Reports or just call to set up a time to discuss.

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End of the year Market Update for La Mesa, CA. 91941

I must admit; I love charts! For you visual folks out there, I have found there is no better way to convey market conditions over time than with charts or infographics.
Below I have provided charts that are based on my ongoing research of the local market.  We had some very interesting market action in the first and second quarters of the year!
Take a peek at the info below. As always, these charts are generalizations. We have a very diverse stock of homes in 91941, so if you are interested in a precise valuation of your home,
just let me know.

Median prices shot up during the first quarter, as a result of extremely low inventory of homes for sale. Classic supply/demand economics in effect.

 

This chart is really interesting. Typically when we have rising prices and limited inventory, the average days on market (DOM) is low as well. As you can see, it took a while for the market to adjust, and DOM fell sharply as a result.

 

This spike in Median price is a direct result in limited supply of inventory, as well as interest rates at historic lows. The low rates allowed more buyers into the marketplace, with few choices. Prices rose dramatically as a result.

If you would like to receive a detailed Market Update for this or any other zip code in San Diego County, please CLICK HERE.

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Recent Serramar Home Sale – 7785 Highwood Drive in La Mesa

Photo of 7785 Highwood Drive in La Mesa, CA. 91941
7785HighwoodThis really nice home in Serramar just closed earlier this month. The home is approximately 2,400 square feet with many upgrades and a beautiful swimming pool. The sales price was $650,000, which is a really good sign for values within Serramar.

As you may have noticed, the Short Sale and Foreclosure activity lately has become the exception and not the rule. Values are starting to firm, which has been long overdue.

If you or someone you know are interested in Buying or Selling a Serramar home, I would love the opportunity to help. – Niko

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Market Update – Median Home Prices in La Mesa 91941 Continue to Rise

Landscape Chart

 

This chart demonstrates the Median price increase in 91941 between May 2012 and April 25th, 2013 (today). It appears that we are finally seeing some sustained appreciation in the market overall, mostly due to the lack of available inventory, historically low interest rates and confidence returning to the marketplace.

This level of appreciation can also be attributed to basic Supply & Demand economics; home buyers now have greater confidence and believe the economy is improving, so they are out looking to buy and take advantage of historically low interest rates. Many traditional home sellers who would like to sell are still under water and unable to provide the much needed inventory that the Marketplace desires. This limit on inventory puts upward pressure on pricing for available inventory of traditional sellers, short sales and the few and far between foreclosure sales.

For home sellers that have equity and are looking to take advantage of this opportunity, this may be a great time to sell.