PSAR leadership working hard, so you can access more listings

posted May 23, 2017, 6:28 PM by Richard D'Ascoli   [ updated May 23, 2017, 6:41 PM ]


PSAR’s leadership team is excited to announce that after years of advocating on our member’s behalf, the NEW data-share between Sandicor and CRMLS went into effect today. Although this is only the first step, it was critical in our effort to help agents gain access to more robust MLS tools in San Diego County. This has not been easy following lawsuits and much disagreement with SDAR, but it is what our members wanted and we are pleased with the results. We will continue to champion our member’s agenda and work towards gaining access to new tools and services provided by CRMLS. 

San Diego County agents will finally get improved data through a new data-share between CRMLS and Sandicor.
  • Better data for client searches
  • Better listing information for CMAs
  • Cost savings to those who currently subscribe to more than one MLS.
Starting today, Tuesday, May 23rd, Sandicor subscribers will be able to search for CRMLS (California Regional Multiple Listing Service) residential listings within Sandicor's Paragon MLS system and CRMLS members will be able to search for Sandicor residential listings within their Matrix MLS system. Sandicor subscribers will also be able to set up residential Paragon searches for clients in the areas served by CRMLS.

PSAR is fighting for REALTORS® and better access to data in San Diego County. This data-share was important to PSAR and PSAR’s volunteer leaders who as Sandicor Directors represent all Sandicor subscribers. NSDCAR, PSAR and Sandicor are currently being sued by SDAR in federal court in a lawsuit that claims that the parties caused "SANDICOR to enter into a data-share contract with CRMLS which threatens to destroy and devalue SANDICOR's most valuable asset: its database;" A link to the charges can be found here on page 26 section 99.

While the lawsuit works its way through the courts, PSAR representatives are proud to have been a driving force behind this data-share agreement. REALTORS® will benefit from the tough decisions made by leaders from PSAR. The data-share is the right thing to do and it is the first step in an effort to regain broker control of listing data, how it is used, and how it is shared.

The movement to join a Statewide MLS is member driven. PSAR is listening to REALTORS® from all over San Diego county and responding to a need. Agents are having to compete with consumer facing websites that provide more comprehensive data than their own web portals. We are working to change that so our members remain the authority in their industry. It is our goal to ensure our Brokers control their own data, and that it is protected and used correctly.


NEW Sandicor and CRMLS Data-Share

posted May 22, 2017, 8:24 PM by Richard D'Ascoli   [ updated May 22, 2017, 8:34 PM ]



San Diego County agents will finally get improved data through a new data-share between CRMLS and Sandicor.
  • Better data for client searches
  • Better listing information for CMA's
  • Save money by joining only one MLS
Starting Tuesday, May 23,  Sandicor subscribers will be able to search for CRMLS (California Regional Multiple Listing Service) residential listings within Sandicor's Paragon MLS system and CRMLS members will be able to search for Sandicor residential listings within their Matrix MLS system! 

Sandicor subscribers will also be able to set up residential Paragon searches for clients in the areas served by CRMLS.

It is important to note that residential listings will automatically be sent to CRMLS, however, listing format (fields and selections) will NOT be a complete match with their database. Sandicor has and will continue to add new fields and pick list values in our efforts to better match the CRMLS format.

For your convenience, here are links to the updated Residential Listing Input Form, and  the NEW Fields and NEW Pick List Values 

While programming work continues on adding other property types, the SmartLink into the CRMLS system will still also be available for use. 

This data-share is a huge victory for San Diego County REALTORS


She has been inspired by her grandmother’s work ethic.

posted May 19, 2017, 1:52 PM by Joyce Evans   [ updated May 19, 2017, 2:06 PM ]

You may know PSAR REALTOR® member Araceli Gonzalez as a member of PSAR’s Global Real Estate Council (GREC). The GREC provides PSAR members with educational opportunities to enable realtors to expand their practice internationally. She recently joined the GREC.
 
Araceli also is the founder the first bilingual Business Network International (BNI) chapter in San Diego area. The chapter meets once a week in Chula Vista to exchange referrals and make new friends.
 
But did you know that Araceli was motivated to switch careers to real estate sales from the examples of her mother and grandmother?
 
“I will forever be grateful for their hard work, commitment and dedication,” said Araceli. “Watching them work hard and learning about their work ethic convinced me that I could do well in real estate, and it has come true.”
 
In the 1960s, before Araceli was born, her grandmother Margarita moved from Rosario, Sinaloa, to the larger metropolitan city of Tijuana. “That decision changed the destiny of our family forever,” said Araceli. “She wanted a better life for her four daughters and one son. There were more opportunities in Tijuana.” Margarita’s oldest daughter, Guadalupe, was Araceli’s mom.
 
Araceli said her grandmother and mother operated two restaurants in Tijuana and one in National City, La Sierra, which is still in business today. After Araceli graduated from Mar Vista High School in Imperial Beach, she attended Southwestern College and Pacific Coast College, a trade school.
 
From 1990 to 2005, Araceli worked in accounting for Barrio Station, a San Diego nonprofit that provides, free-of-charge, adult-supervised, academic enrichment, recreation programs, counseling and community service activities to inner city youth. “I was so proud to work there because we were making a difference in the lives of many young people,” Araceli said. “We saved many teenagers in the Barrio who were vulnerable to negative peer pressure, educational failure, substance abuse and gangs.”
 
After 15 years at Barrio Station, Araceli was ready for a change. “A REALTOR® helped me buy our first house and I was inspired by her work ethic and how much she helped us. I wanted to do the same thing for other families.”
 
Araceli earned her real estate sales license in 2003 and became a full-time sales agent in 2005. Today, Araceli lives in the Rancho del Rey area with her three children, ages 13, 18 and 20. 
 
“Real estate is hard work and it’s not always fun,” Araceli said. “But, it’s very rewarding when you help a family achieve their dreams. I get a lot of satisfaction from helping people and staying in touch with them after the sale. I know my grandmother and mother would be very proud of me.”
 
Araceli said she appreciates her involvement with PSAR. “I am so grateful to our Association,” she said. “I like the support, the education classes and tech support. I also like to network with the other agents at the meetings. Everyone is so welcoming. I’m so proud to be a PSAR member because they represent us so well in the community.

PSAR committed to legislative advocacy.

posted May 12, 2017, 3:06 PM by Joyce Evans   [ updated May 12, 2017, 3:46 PM ]

Legislative advocacy continues to be an important activity at PSAR. Advocacy plays a critical role in supporting property ownership throughout our communities. A powerful alliance can be formed with other REALTORS® and affiliates when we speak in solidarity with one voice and work together with elected officials to protect and promote homeownership and property investment.
 
The result can be public policies that uphold private property rights and build strong communities with a vibrant business environment and free enterprise system. Indeed, whether or not the average homeowner realizes it, government relations can influence the price of real estate and affect the state of the economy, level of interest rates, and nature of demographics, along with a host of other variables that can ultimately determine a property’s value. 
 
Recently, a number of PSAR members traveled to Sacramento for the California Association of REALTORS® (C.A.R.) Legislative Day 2017. The event, the 45th annual, included opportunities to meet and discuss real estate issues directly with state legislators and their staff members, as well as hear from California’s political leaders and the leadership of the state association.
 
PSAR’s C.A.R. directors who attended included Aaron Kerper, Anthony Andaya, Bob Olivieri, Jan Farley, Jeff Campbell, Lupe Soto, Minerva Garcia, Nikki Coppa, Norma Scantlin, Rick Hoffman and Sarah Heck. Other PSAR members attending C.A.R.’s Legislative Day included Rafael Perez, Max Zaker, Claudia Zaker, Mike Anderson, Monet Love, Shonee Henry, Pat Russiano, Ron Boland, Ditas Yamane, Art Armagost, Evita Beas, James Sean Hillier, Larry Van Rickley and Minni Rzeslawski, along with Tracy Morgan Hollingworth, PSAR’s Governmental Affairs Director, and PSAR staff members Richard D’Ascoli and  George Ching.
 
As a follow-up to C.A.R.’s Legislative Day, several Association members are planning to attend the upcoming National Association of REALTORS® (NAR) 2017 Legislative Meetings and Trade Expo, May 15-20 in Washington, D.C. NAR is widely considered one of the most effective advocacy organizations in the country.
 
Statewide, it’s an incredibly busy year because the real estate industry has emerged as a major player in the current legislative agenda. More than 130 housing bills have been introduced this legislative session, many of them aimed at addressing the state’s housing shortage, lack of affordable housing and protecting those at risk of losing their homes. High housing costs, an undersupply of homes to buy or rent and the failure of cities and counties to adequately plan for growth seems to be fueling the flurry of political activity.
 
According to the state Housing and Community Development Department, California needed 180,000 new homes each year over the past decade but built on average just 80,000 a year. The state will need at least 1.8 million new homes by 2025. At 54 percent, California’s homeownership rate has dropped to the lowest point since the late 1940s. Overcrowding in the state is double the national rate. And while the state has 12 percent of the nation’s population, we have 22 percent of the nation’s homeless. Clearly, rents are too high, home prices are climbing, homeless encampments are growing and many people are cutting back on food, clothing and medical care to keep a roof over their heads.
 
The key housing bills in Sacramento fall into four key types, according to news reports, including Increased funding for affordable housing; Streamlined approvals for homebuilding projects; Stepped-up enforcement of housing laws; Resident protection laws.
 
The increased legislative activity is an encouraging sign, especially for California’s millennials. According to CALmatters, a nonprofit, nonpartisan media venture, a staggering 38 percent of California’s 18 to 34-year-olds still live with their parents. That’s roughly 3.6 million people stuck at home. Think of it this way: If “unlaunched” California millennials formed their own state, they would be entitled to more electoral votes than Connecticut, Iowa or Utah. If they formed their own city, it would be the third largest in the country.
 
You can be assured that PSAR remains committed to reaching out to elected officials, motivating and mobilizing the real estate community and keeping our members involved and informed about legislative issues in an effort to protect private property rights and homeownership.

Attention! SentriSmart Update is Coming!

posted May 10, 2017, 1:56 PM by Joyce Evans   [ updated May 10, 2017, 2:01 PM ]

Attention PSAR REALTOR® members:  Sentrilock is updating their SentriSmart App to version 3.0.0 on May 17th. If you are using SentriSmart please make sure you update the app on your phone before the deadline.  Users will need to know their Apple ID & password or Google Play Store login credentials to log back into the app after the update. If you have questions, please don’t hesitate to send an email to support@psar.org.

Paragon v5.58 Release on May 3rd!!!

posted May 5, 2017, 4:26 PM by George Ching

Paragon


NEW CMA Presentation Set Up and CMA Preference Wizards.  

The default options from the CMA Presentation Setup has been added to the CMA Preferences Wizard.  Users will now have the ability to set the default options for the Comparable Report, CMA Summary, CMA Comparable Property Statistics and CMA Seller's Net Sheet.


               Colab Center Updates:

  • Updates are now retained until new updates are available.  Prior to 5.58, when the client clicked on CC2 notification link they would be taken to CC2 site and would see the updates.  Instead of clearing the updates we will retain those updates until a new update is triggered. 
  • Code adjustments have been made to improve the speed of overall performance of the dashboard when switching filters.
  • Swiping on Photo within the CC2 Detail view has been fixed.
  • Loading Spinner added so user knows the system is working.

    COMING SOON - SELLER'S COLAB CENTER.  
    Listing agents will have a product to give their sellers that will allow them to monitor their listing within the MLS.
  • Showing the number of emails, and searches their listing has appeared in.
  • How many have marked it as a favorite, possible, rejected or undecided.  
  • Real Estate Agent Views vs Prospective Buyer Views 
    • ALSO COMING - Colab Center Pro for AGENTS
      The new responsively designed web based solution includes the ability for Agents to have access to all of their Paragon contacts and their contacts' CC2 sites, including the ability to edit contact information.  Agents will be able to search listings as an agent and the ability to access and edit their Paragon searches on the go. Giving Paragon a better mobile experience on smart phones and tablets.

A paella party for 30 people after every closed escrow.

posted May 5, 2017, 2:18 PM by George Ching   [ updated May 5, 2017, 2:26 PM ]

Oscar Vega

You may know PSAR REALTOR® member Oscar Vega as a member of PSAR’s Global Real Estate Council (GREC). The GREC provides PSAR members with educational opportunities to enable REALTORS® to expand their practice internationally. He also has participated in events hosted by PSAR’s Young Professionals Network (YPN) members.

 

But did you know that Oscar has won several food competitions for his paella?  (Paella is a traditional Spanish dish featuring fluffy yellow rice and seafood cooked in olive oil.) “I’ve won a number of awards in Mexico for my paella over the past seven years,” said Oscar. “I love the dish because there is so much variety. You have countless possibilities to bring together ingredients with bold flavors and delightful textures and include meats or shellfish or even vegetables.”

 

His next competition is the 3rd annual Paella, Wine & Beer Festival (www.paellawinefest.com) (www.paellawinefest.com) on Saturday, May 13 at Embarcadero Marina South Park South in Downtown San Diego. Oscar will match his recipe against more than 60 acclaimed Paella chefs vying for several titles, including, “Best Paella Valenciana,” “Best Paella in the Cali-Baja Region” and “People's Choice Award.”

 

After an escrow closes, instead of a gift basket or dinner certificate, Oscar prepares a free paella party for his client plus 30 of their closest family and friends. “What could be better that some tasty Spanish paella and a glass of wine,” Oscar said. “It’s a great way to talk to people in a casual setting and get leads for future transactions.”

 

A San Diego native, Oscar, 53, graduated from Montgomery High School in south San Diego (class of 1982). “I was born at Mercy Hospital back when there were Catholic nuns as nurses,” he said.

 

Oscar spent the first 30 years of his career as a design engineer and sales executive before earning his real estate sales license in 2012. He worked for a company that made aluminum briefcases for military applications. “They looked like the briefcases used in spy movies,” Oscar said.

 

He also designed wireless phones for Qualcomm Inc. before Qualcomm sold its consumer-phone production business to Kyocera Corp. of Japan in 1991. As a result of the deal, Oscar found himself overseeing sales for Kyocera in Mexico, Argentina and Brazil, where he learned how to speak Portuguese.

 

Then, when Kyocera sold Oscar’s business unit to Mitsubishi Electric, he found himself designing flat-panel, liquid-crystal displays (LCDs) for a variety of applications, including phones, automobiles and medical equipment. “Then Kyocera reacquired my display division and, believe it or not, I returned to work for Kyocera,” Oscar said.

 

“I have traveled all over the world to such places as Europe, Southeast Asia, Japan, China and all over Latin America. And, guess what, I hate flying. I found that shots of scotch can help you get through a flight.

 

“But, I missed a lot of growing-up moments with my kids,” said Oscar. “So, I got into real estate so I can spend more time with family.” Oscar has four grown children and is now raising Nicole Vega, age 1, with wife Ileana Vega, a loan officer. “It’s an interesting dynamic in our home,” said Oscar. “Some people think I’m our daughter’s grandfather.”

 

Oscar said he enjoys real estate because “I’m still involved in changing lives. I enjoy working with first-time buyers who get discouraged and want to throw-in the towel,” he said. “But everything is solvable. After the deal closes, I become part of their family with invitations to baptisms and quinceañeras.”

 

Oscar also enjoys PSAR. “What a great association,” he said. “The support we receive from PSAR is unmatchable. The training provided helps us stay out of troubles and keeps us doing our job with the highest level of professionalism.”

Unless the escrow closes, the wedding is off.

posted Apr 21, 2017, 4:51 PM by Joyce Evans   [ updated Apr 21, 2017, 4:51 PM ]

You may know PSAR REALTOR® member Anthony Manzon as a recent honoree of a National Association of REALTORS® (NAR) 2017 “30 Under 30” award. The 28-year-old PSAR member from Chula Vista has been involved in PSAR’s Young Professionals Network (YPN) group. He also is involved in the community with several charities and nonprofits.
 
But did you know that Anthony and future wife Regina were so confident in themselves when they started in real estate that they were willing to cancel their wedding if they did not succeed?
 
“We motivated ourselves by deciding that we’re either going to succeed in real estate or we’re not going to have a wedding,” Anthony said. 
 
Anthony and Regina met when they both were attending the University of California at Santa Barbara. They graduated in 2012. Anthony, a native of Cerritos, Calif., moved to Chula Vista in 7th grade and graduated from Otay Ranch High School (class of 2007). 
 
“In April 2013, we both decided to go all-in with real estate and we set the wedding date for a year later, in April 2014. We used most of our savings toward getting our real estate licenses. In September 2013, we received our license and had a grand total of about $1,000 in our savings account left for living expenses. From September to April, I did open houses every weekend, and most weeks even did four or five open houses a week. Failure was not an option and there was no way we were not going to hit our goal. Just three weeks before the wedding, we were able to close enough transactions to pay off our wedding in cash and go on two amazing honeymoons.” 
 
After the two honeymoons, one to Costa Rica and another to Puerto Vallarta, Anthony’s success in real estate continued, which was part of the requirements for earning the NAR “30 Under 30” award. Criteria for the “30 Under 30” award includes sales production, business management, leadership involvement in the community and support for their local Association. Candidates are successful in their real estate business and have demonstrated skill, success, creativity, and leadership in their careers.
 
In Anthony’s first year, he won the 2014 Rookie of the Year award, finishing with 13 transactions representing $5.5 million in volume. Production in 2015 totaled 34 transactions, representing $16 million; in 2016, it was 51 transactions representing $22 million. 
 
Among NAR’s 1.1 million membership, an estimated 50,000 members are under age 30 and eligible to be nominated for the award. In January of this year, more than 300 young professionals applied for this year’s honor. An independent panel of judges paired this year’s “30 Under 30” applicants from 300 to 100 to 50. Then, REALTORS® across the country participated in the selection of the top 30 honorees by casting online votes from March 17 to 24. A grand total of 39,934 votes were cast in the online contest. The “30 Under 30” honorees were announced at the end of March.
 
According to Anthony: “I never had a full-time job before real estate because I was a professional break dancer. I spent all my time practicing and traveling for competitions in New York, Florida, Chicago, Seattle, Nevada and throughout California. I owe a lot of my real estate success to my breakin’ career. In breakin,’ I learned discipline and hard work. Success was never going to be given to me. I use this same approach in real estate. The most important thing breakin’ has taught me is to always be myself and I will attract the people and clients that I enjoy working with.”
 
Anthony is known as “The Break Dancing REALTOR®.” He said, “At open houses, I bring my boombox, play old school music, and dance. Clients love that I am professional and that I am being myself. When I learned to incorporate my natural personality with professionalism, my business exploded.”
 
Anthony and Regina have a one-month-old son named Cejay (pronounced “C.J,” named in honor of Anthony’s late brother Christopher James). “It’s great to be new parents, but we’re not sleeping a lot,” Anthony said. 
 
Anthony credits the support of PSAR members for his “30 Under 30” award. “I’m grateful for every member who voted online for me and the support of the Association. It has meant the world to me to win. I will cherish this award for my entire career. It’s a tremendous, amazing privilege. I hope to be an inspiration to others, especially minorities.”
 
Anthony said he is managing his real estate sales team members based on examples he has witnessed at PSAR. “PSAR is such a great Association with members who are friendly and the staff is so responsive. I’m trying to model my sales team after what I’m seeing at PSAR, friendliness, accessible and great communications.”

She speaks four languages, including Hebrew.

posted Apr 13, 2017, 4:06 PM by Joyce Evans   [ updated Apr 13, 2017, 4:06 PM ]

You may know Lina Gorinstein as a member of the South County District Council at PSAR. She also is a past honoree of the PSAR Affiliate of the Year award in 2008. Also, as a current board member of the National Association of Hispanic Real Estate Professionals (NAHREP), San Diego chapter, Lina also serves as a representative of NAHREP to PSAR.

 

But did you know that Lina speaks four languages? “I speak English, Spanish, Hebrew, and Yiddish,” said Lina. “We are traditional Jews, we follow the High Holydays and the family traditions. Some people are surprised at the combination of me being Mexican and Jewish at the same time.”

 

Lina is a native of Mexico City. She has a bachelor’s degree in Marketing and Advertising from the Universidad de la Comunicación. At age 16, when she was in high school, Lina met her future husband Alan. He was 19 at the time. “We’ve been together since I was in high school,” Lina said.

 

In Mexico City, Alan owned a baby clothing factory with about 40 employees. Lina and Alan’s two sons, Ricardo and Eduardo, were born in Mexico City. “Our two sons always had the best clothes to wear when they were babies,” Lina said. “If there was a new design, we would first see how it looked on our babies.”

 

In 1998, Lina and Alan relocated to San Diego when the boys were ages 5 and 3 (today, they are ages 23 and 21, respectively). They have lived in Chula Vista since then.

 

In 2003, Lina started her real estate career with LGS Reports, a company that provided Natural Hazard Disclosure (NHD) reports. In September 2005, First American Title acquired Lina’s company, but she continued to work on NHD reports. Lina estimates she worked on more than 40,000 NHD reports between 2003 and 2013, when she became a First American Title sales rep. “I love working in the field and interacting with our clients,” Lina said. “I enjoy providing great customer service and helping my customers succeed in any way I can.”

 

Today, Alan works at Pro Digitizing, a Chula Vista company specializing in embroidery digitizing and vector art. Lina and Alan enjoy traveling with the family. Their favorite trips are going on a cruise or go skiing with the boys. They also enjoy going on a hike and walking with their dog named Spiky at dog beach.

 

“Immediately after beginning in real estate, I got involved in PSAR,” said Lina, who previously served for two years on the PSAR board of directors. “PSAR is like a big family where everybody gets along,” said Lina. “I love volunteering, helping out and making new friends. Our Association goes the extra mile in helping agents and affiliates do business together for everybody’s benefit.”

Voice of Real Estate: Market Update, 33.4 days or less

posted Apr 7, 2017, 3:58 PM by Joyce Evans

Spring has barely sprung, but it appears we’re already in the thick of a frenzied spring home buying season. Depending on who you’re listening to, San Diego County’s housing market seems to be off to a blooming start. Industry sources confirm the market is growing and getting stronger. Low inventory continues to be a significant problem, as well as high prices are keeping waves of buyers at bay. However, thanks to uncommonly low interest rates, mortgage payments have remained pretty reasonable even in the face of increasing purchase prices.
 
Among the latest housing market headlines:
 
-- According to the University of San Diego Burnham-Moores Center for Real Estate, the local economy is picking up steam and is expected to do better than what had previously been expected. The Center’s Index of Leading Economic Indicators is now forecasting employment growth at 30,000 new jobs in 2017, compared with a previous forecast of 25,000 jobs announced at the end of 2016. Analysts say the economy is growing because of improved local labor conditions, rising prices of local stocks and stronger measures of U.S. consumer confidence due to President Trump’s business-friendly policies.
 
-- According to www.Realtor.com, the National Association of REALTORS® official website, San Diego was the 8th “hottest” real estate market in March with the typical home taking just 38 days to sell. California led the United States with six of the top 10 real estate markets. Nationwide a home is typically on the market for 69 days, eight days less than this time last year. It’s much less in California, however, with homes in booming Silicon Valley homes typically selling after just 25 days.
 
-- According to the latest housing market report from the California Association of REALTORS® (C.A.R.), the median number of days it took to sell a single-family home dropped from 37.4 days in January to 33.4 days in February and was down from 41.5 days in February 2016.
 
-- According to CoreLogic, an Irvine-based real estate data and analytics information service, the median sales price of a home in San Diego County jumped by 8.1 percent in February, compared with the same month a year earlier, while the number of homes sold fell by 1.6 percent. The median price of a San Diego County home was $492,000 in February, up from $455,000 in February 2016. In Southern California, the median price of a home was $460,000 in February, up 1.1 percent from the month before and up 7 percent from the same period last year.
 
-- Also according to C.A.R., existing single-family home sales totaled 400,500 in February on a seasonally adjusted annualized rate, down 4.7 percent from January and up 4.9 percent from February 2016. February’s statewide median home price was $478,790, down 2.2 percent from January and up 7.6 percent from February 2016. 
 
Also, closed escrow sales of existing, single-family detached homes in California remained above the 400,000 benchmark for the 11th consecutive month and totaled a seasonally adjusted annualized rate of 400,500 units in February, according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide. The statewide sales figure represents what would be the total number of homes sold during 2017 if sales maintained the February pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales.
 
Finally, C.A.R. said the share of homes selling above asking price dipped from 31 percent a year ago to 30 percent in February. Conversely, the share of properties selling below asking price increased to 37 percent from 35 percent in February 2016. The remaining 34 percent sold at asking price, down from 35 percent in February 2016. The homes that sold above asking price, the premium paid over asking price edged up to 12 percent, up from 11 percent a year ago.
 
“While it’s encouraging to kick off the year with back-to-back yearly sales increases, moving forward, California’s housing market could lose steam in the long term as the Fed begins to adjust the federal funds rate,” said C.A.R. President Geoff McIntosh. “In the short term, however, the specter of higher interest rates may push buyers off the fence to purchase a home before mortgage rates move even higher.”

C.A.R.’s most recent Market Pulse Survey included its Pending Home Sales Index (PHSI). The PHSI score for San Diego County was 122.7 in February, compared to 129.3, a decline of 5.1 percent. C.A.R.’s pending sales information is generated from a survey of more than 70 associations of REALTORS® and MLSs throughout the state. Pending home sales are forward-looking indicators of future home sales activity, offering solid information on future changes in the direction of the market. A sale is listed as pending after a seller has accepted a sales contract on a property. The majority of pending home sales usually become closed sales transactions one to two months later. The year 2008 was used as the benchmark for the Pending Homes Sales Index. An index of 100 is equal to the average level of contract activity during 2008.

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