About San Diego's Point Loma

Friday's market improvement allowed a strong finish to yet another volatile week. What can we expect from mortgage rates for the rest of the quarter? All Real Estate Professionals & Consumers are advised to stay informed about interest rates and learn THE TRUTH BEHIND MORTGAGE QUOTES to insure the best financial decisions are being made without the distraction of marketing gimmicks. Whether you're a newbee, market analyst (or somewhere in between), keep yourself informed of where mortgage interest rates are going (and why) by subscribing to this complimentary daily update.

The Mortgage Street Smarts of where mortgage interest rates are going (and why):

The following information is current as of Monday 3-12-2012 and will help you understand todays best mortgage rates. If you are a Buyer/Borrower who is still on the fence (or if you are a Real Estate Agent attempting to educate your "on the fence" Buyer), please review these trends and secure an historically low interest rate before it is too late.

The market closed Friday with an IMPROVEMENT to pricing (and will typically warrant a pricing adjustment by most Lenders). Friday's IMPROVEMENT resulted in a change of 18 basis points (bps).

(hint: upward activity is good, downward activity is bad)

The following chart shows the market activity for today:

The following chart shows market activity over the past 10 days (hint: green is good, red is bad):

The following chart shows market activity over the past 1 month:

Daily Interest Rate Snapshot (sample of rates from one of the country's largest Lenders...individual pricing will vary based on specific Borrower qualifications): NOTE: This Lender has quoted a 1.00% Origination Fee (1 Point) to accompany this pricing. It bears noting that this chart does not necessarily represent todays best mortgage rates.

Market Commentary

Analyst: Neil Trenerry

FNMA 30-Yr

	Prev Close	Open	Change
3.0 Cpn	100.4531	100.6875	0.23438
3.5 Cpn	103.2188	103.4375	0.21875
4.0 Cpn	105.1250	105.2656	0.14063

Key Economic Data:

	Prev Close	Open	Change
EUR/USD	1.3111	1.3117	0.0006
GBP/USD	1.5674	1.5629	-0.0045
USD/JPY	82.430	82.160	-0.2700

Gold	1710.90	1696.00	-14.90
Oil	107.40	106.10	-1.30

Key Economic News:

7:00est Employment Trends for Feb: Last 105.8.

11:00est Federal Budget for Feb: Consensus -229.0b, Last -27.4b.

Advice:

With little help on the news front, and mixed results for the Dollar. We will probably see as small improvement in the market as traders open positions close over the weekend. Keep a close eye on the Federal Budget numbers coming out at 10:00est, this my change everything.

My position on MBS changes to neutral.

Analyst: Lou Barnes

Last week brought a lot of new economic information. Raw data is always spun by analysis, sometimes for reasons of advantage in driving clients to buy or sell things,
sometimes to further theories, and often for politics, Lord knows.

But this time is exceptional, cubed. Global economies have never been in situations like these, and thus neither have central bankers, economist/analysts; and reporters cannot tell when sources are spinning, straight, or bent. I vacillate between the anger of a citizen done wrong by political leadership, exasperation with dumbed-down media, and homicidal rage at the amorality of colleagues in markets, utterly dependent on market health but undermining them for the slightest advantage.

Today… compassion, even for those unfortunate branches of humanity.

The biggest news: 227,000 net-jobs created in February, and a 61,000 positive revision to the Dec-Jan sum. That's good news, and crowing by the party in power is justfied. However, all is relative. The good jobs numbers in the last three months are likely to have been boosted by good weather. The February numbers include a negilgible gain in wages, 0.1% equal to three cents per hour, and no acceleration in hours worked. Unemployment remained 8.3%, and inclusive of "involuntary part-time" improved slightly to 14.9% -- both understated by discouraged workers leaving the workforce. You ain't unemployed if you ain't lookin'.

Nothing matters more than jobs, because we must have tax revenue before we embark on austerity, and austerity is coming, ready or not.

The ISM reported sustained growth in the service sector, to 57.3 in February from 56.0 (a 50 level is breakeven, 60 is pink-of-health). Econo-political discourse is now polluted by advocacy for manufacturing jobs. Do I hope my 17-year-old son will stand in a production line, competing head-to-head with Asian sweatshops and superbly conceived German mini-lines? Or a career in what Peter Drucker described 50 years ago as "knowledge work," perhaps at Google, or programming manufacturing robots, or any number of ventures in which his brain might be paid better than his hands?

My friend, who writes Calculatedriskblog says, "…Housing has made its bottom turn." No it has not -- not with prices still falling and distressed inventory unchanged.

Loud hozannahs greeted the Fed's report of an 8.6% surge in consumer credit: banks are easing, consumers in action! No. Just… not. Credit card debt actually contracted at a 4.4% pace, knocking balances back to November levels. Non-revolving credit roared ahead at a 14.7% pace. Partly good: auto loans -- credit is easier (cars are easier to repossess than houses), and the damned things do wear out, and high-mileage new beats the old gas-blazer.

Partly awful: the fastest growth in credit is student loans, now nearly equal to the nation's total outstanding 2nd mortgages and Helocs, loaded onto the backs of kids to pay the higer-ed racketeers. In this whole Great Recession, the only sectors of the economy to raise prices at a multiple of inflation: the health-care Corleones, and higher ed. A shameful and destructive reversal of GI Bill wisdom.

Overseas: officials say the new Greek deal marks the end of European crisis. Uh-huh. New Greek bond yields already predict certain default. Banks propped, the Euro-story is now the actual economies. Spain: unemployment 22% and rising, 45% among youth; budget out of balance 8.3% of GDP. German-forced austerity the plan. For now.

Back here, bizarre bad-good-bad-good news. In a panic, the Administration and silent, bi-partisan co-dependents in Congress have jacked FHA fees to fill a loss hole which will require bailout after the election. The jack is so high, driving new applicants away, that FHA net revenue may fall instead. The good news: nouveau private mortgage insurers can fill most of the credit gap. The bad news: the highest-quality applicants will bolt FHA, leaving it with net-increased risk and losses.

Election year. Nothing to do but watch the data stream by. The best view: unfiltered original sources. Take gin straight in a Martini. Don’t monkey with it.

Trusted Industry Advisor

The above information was compiled and distributed by San Diego Residential Mortgage Specialist, Jason E Gordon. As a Certified Mortgage Planning Specialist (CMPS) Certified Distressed Property Expert (CDPE) and Certified Mortgage Coach (CMC), Jason E Gordon utilizes his advanced training to examine a prospective Client's complete financial picture, while carefully listening to their overall goals. If it is mutually agreed that a new loan makes sense to pursue, Jason strives to make the entire loan process as seamless as possible. He truly believes that providing open communication and patient educational guidance to his Clients and Business Alliances has been a pivotal component to building his business, while enhancing his reputation in the Mortgage Industry as a Trusted Advisor. Visit www.jasonegordon.com or www.ApprovingSD.com or more information.

Click here for daily mortgage interest rate updates and projections for San Diego's lowest mortgage rates

Weekly Market Update for Point Loma and OceanBeach – Mar 4, 2012

Point Loma is a seaside community of San Diego and home to many of the area’s historic homes. Many homes in this area date back to the early 1900’s. You will find a beautiful mixture of architectural styles from Mediterranean, to Spanish, to Colonial, along with cute bungalows. Home prices in Point Loma can reach into the multimillions of dollars.

Located near downtown San Diego, Point Loma is a hilly peninsula that sets homes high above sea level making for unparalleled, expansive ocean views. The area, which is comprised of two zip codes, 92106 and 92107 is segmented into several distinct neighborhoods: Loma Portal, PointLomaHeights, Centraloma, Fleetridge, Roseville, RosevilleHeights, Liberty Station, College Area, Woods, Wooded Area and La Playa. OceanBeach (92107) is comprised of two distinct neighborhoods: OceanBeach and Sunset Cliffs.

10 Least Expensive Homes in Point Loma and OceanBeach (92106 & 92107)
As of Mar 4, 2012

	Sale Type	Street	Neighborhood	Bed/ Bath	Est SqFt	List Price	Days on Market
10	Traditional	Chatsworth Blvd	Point Loma	2/1	1,036	$549,000	7
9	Traditional	Wawona Dr	Point Loma	2/1	910	$529,900	49
8	REO	Hugo St	Point Loma	3/2	1,617	$529,900	40
7	Traditional	Poe St	Point Loma	3/2	1,208	$524,000	14
6	Traditional	Poe St	Point Loma	2/2	1,164	$515,000 (REDUCED)	94
5	Traditional	Catalina Blvd	Point Loma	2/1	868	$509,000 (REDUCED)	14
4	Traditional	Etiwanda St	Point Loma	2/1	837	$509,000	11
3	Traditional	W Point Loma Blvd	OceanBeach	3/2	1,075	$470,000	57
2	Traditional	Narragansette Ave	OceanBeach	2/1	594	$424,000	2
1	Traditional	Nimitz Blvd	Point Loma	3/1	1,036	$399,000	107

5 Most Expensive Homes in Point Loma and OceanBeach (92106 & 92107)
As of Mar 4, 2012

	Street	Neighborhood	Bed/ Bath	Est SqFt	List Price	Days on Market
5	Sunset Cliffs Blvd	Point Loma	5/5	4,178	$3,395,000 (NEW to LIST)	38
4	San Fernando St	Point Loma	5/5	5,994	$3,800,000	123
3	Rosecrans St	Point Loma	3/3	4,173	$3,895,000	44
2	Armada Ter	Point Loma	6/6	8,316	$4,495,000	0
1	Sefton Pl	Point Loma	8/5	6,769	$12,500,000	197

There are currently 96 homes for sale in 92106 and 92107 – Point Loma, OceanBeach

38 Pending escrows (Traditional sale escrows) with an average list price of $795,000

14 Contingent escrows (Short Sale escrows) with an average list price of $619,500

Recently sold average list price is $689,000 taking on average about 2 ½ months to sell.

Search Point Loma and OceanBeach homes and call me for an appointment to view any of the homes you find.

Weekly Market Update for Point Loma and OceanBeach – February 26, 2012

Point Loma is a seaside community of San Diego and home to many of the area’s historic homes. Many homes in this area date back to the early 1900’s. You will find a beautiful mixture of architectural styles from Mediterranean, to Spanish, to Colonial, along with cute bungalows. Home prices in Point Loma can reach into the multimillions of dollars.

Located near downtown San Diego, Point Loma is a hilly peninsula that sets homes high above sea level making for unparalleled, expansive ocean views. The area, which is comprised of two zip codes, 92106 and 92107 is segmented into several distinct neighborhoods: Loma Portal, PointLomaHeights, Centraloma, Fleetridge, Roseville, RosevilleHeights, Liberty Station, College Area, Woods, Wooded Area and La Playa. OceanBeach (92107) is comprised of two distinct neighborhoods: OceanBeach and Sunset Cliffs.

10 Least Expensive Homes in Point Loma and OceanBeach (92106 & 92107)
As of February 26, 2012

	Sale Type	Street	Neighborhood	Bed/ Bath	Est SqFt	List Price	Days on Market
10	Traditional	Clove St	Point Loma	2/1	806	$554,000 (REDUCED)	45
9	Traditional	Chatsworth Blvd	Point Loma	2/1	1,036	$549,000	2
8	Traditional	Wawona Dr	Point Loma	2/1	910	$529,900 (REDUCED)	45
7	Traditional	Poe St	Point Loma	3/2	1,208	$524,000	10
6	Traditional	Poe St	Point Loma	2/2	1,164	$520,000	90
5	Traditional	Catalina Blvd	Point Loma	2/1	868	$519,000	9
4	Traditional	Etiwanda St	Point Loma	2/1	837	$509,000	7
3	Traditional	W Point Loma Blvd	OceanBeach	3/2	1,075	$470,000	53
2	Short Sale	Lotus St	OceanBeach	3/1	1,010	$439,000	6
1	Traditional	Nimitz Blvd	Point Loma	3/1	1,036	$399,000	103

5 Most Expensive Homes in Point Loma and OceanBeach (92106 & 92107)
As of February 26, 2012

	Street	Neighborhood	Bed/ Bath	Est SqFt	List Price	Days on Market
5	San Fernando St	Point Loma	5/5	5,994	$3,800,000	119
4	Rosecrans St	Point Loma	3/3	4,173	$3,895,000 (REDUCED)	40
3	Cordova St	OceanBeach	5/5	5,113	$4,200,000	271
2	Armada Ter	Point Loma	6/6	8,316	$4,495,000	333
1	Sefton Pl	Point Loma	8/5	6,769	$12,500,000	193

There are currently 98 homes for sale in 92106 and 92107 – Point Loma, OceanBeach
39 Pending escrows (Traditional sale escrows) with an average list price of $816,000
13 Contingent escrows (Short Sale escrows) with an average list price of $577,000
Recently sold average list price is $667,000 taking on average about 2 ½ months to sell.

Search Point Loma and OceanBeach homes and call me for an appointment to view any of the homes you find.

Weekly Market Update for Point Loma and OceanBeach – February 5, 2012

Point Loma is a seaside community of San Diego and home to many of the area’s historic homes. Many homes in this area date back to the early 1900’s. You will find a beautiful mixture of architectural styles from Mediterranean, to Spanish, to Colonial, along with cute bungalows. Home prices in Point Loma can reach into the multimillions of dollars.

Located near downtown San Diego, Point Loma is a hilly peninsula that sets homes high above sea level making for unparalleled, expansive ocean views. The area, which is comprised of two zip codes, 92106 and 92107 is segmented into several distinct neighborhoods: Loma Portal, PointLomaHeights, Centraloma, Fleetridge, Roseville, RosevilleHeights, Liberty Station, College Area, Woods, Wooded Area and La Playa. OceanBeach (92107) is comprised of two distinct neighborhoods: OceanBeach and Sunset Cliffs.

10 Least Expensive Homes in Point Loma and OceanBeach (92106 & 92107)
As of February 5, 2012

	Sale Type	Street	Neighborhood	Bed/ Bath	Est SqFt	List Price	Days on Market
10	Traditional	Clove St	Point Loma	2/1	806	$569,000	24
9	Traditional	Dumas St	Point Loma	3/1	1,288	$559,000 (REDUCED)	29
8	Short Sale	Catalina Blvd	Point Loma	3/1	1,307	$557,000	362
7	Traditional	Wawona Dr	Point Loma	2/1	910	$539,900	24
6	Traditional	Tennyson St	Point Loma	3/1	1,144	$530,000	17
5	Traditional	Poe St	Point Loma	2/2	1,164	$520,000	69
4	Traditional	Poe St	Point Loma	3/2	1,208	$510,000 (REDUCED)	30
3	Traditional	Etiwanda St	Point Loma	2/1	837	$509,000	170
2	Traditional	W Point Loma Blvd	OceanBeach	3/2	1,075	$470,000	32
1	Traditional	Nimitz Blvd	Point Loma	3/1	1,036	$399,000	95

5 Most Expensive Homes in Point Loma and OceanBeach (92106 & 92107)
As of February 5, 2012

	Street	Neighborhood	Bed/ Bath	Est SqFt	List Price	Days on Market
5	San Fernando St	Point Loma	5/5	5,994	$3,800,000	98
4	Rosecrans St	Point Loma	3/3	4,173	$4,150,000	19
3	Cordova St	OceanBeach	5/5	5,113	$4,200,000	250
2	Armada Ter	Point Loma	6/6	8,316	$4,495,000	312
1	Sefton Pl	Point Loma	8/5	6,769	$12,500,000	172

There are currently 102 homes for sale in 92106 and 92107 – Point Loma, OceanBeach

30 Pending escrows (Traditional sale escrows) with an average list price of $727,000

13 Contingent escrows (Short Sale escrows) with an average list price of $582,500

Recently sold average list price is $645,000 taking on average about 2 ½ months to sell.

Search Point Loma and OceanBeach homes and call me for an appointment to view any of the homes you find.

Weekly Market Update for Point Loma and OceanBeach – January 29, 2012

Point Loma is a seaside community of San Diego and home to many of the area’s historic homes. Many homes in this area date back to the early 1900’s. You will find a beautiful mixture of architectural styles from Mediterranean, to Spanish, to Colonial, along with cute bungalows. Home prices in Point Loma can reach into the multimillions of dollars.

Located near downtown San Diego, Point Loma is a hilly peninsula that sets homes high above sea level making for unparalleled, expansive ocean views. The area, which is comprised of two zip codes, 92106 and 92107 is segmented into several distinct neighborhoods: Loma Portal, PointLomaHeights, Centraloma, Fleetridge, Roseville, RosevilleHeights, Liberty Station, College Area, Woods, Wooded Area and La Playa. OceanBeach (92107) is comprised of two distinct neighborhoods: OceanBeach and Sunset Cliffs.

10 Least Expensive Homes in Point Loma and OceanBeach (92106 & 92107)
As of January 29, 2012

	Sale Type	Street	Neighborhood	Bed/ Bath	Est SqFt	List Price	Days on Market
10	Traditional	Ingelow St	Point Loma	3/2	937	$645,000	194
9	Short Sale	Historic Decatur Rd	Point Loma	3/3	1,931	$615,000	285
8	Traditional	Willow St	Point Loma	4/3	1,450	$599,900	194
7	Traditional	Temple St	Point Loma	3/2	1,164	$582,000	54
6	Traditional	Dumas St	Point Loma	3/1	1,288	$579,000	22
5	Traditional	Clove St	Point Loma	2/1	806	$569,000	17
4	Traditional	Tennyson St	Point Loma	3/1	1,144	$530,000	10
3	Traditional	Poe St	Point Loma	3/2	1,208	$529,000 (REDUCED)	23
2	Traditional	Poe St	Point Loma	2/2	1,164	$520,000	62
1	Traditional	Nimitz Blvd	Point Loma	3/1	1,036	$399,000	8

5 Most Expensive Homes in Point Loma and OceanBeach (92106 & 92107)
As of January 29, 2012

	Street	Neighborhood	Bed/ Bath	Est SqFt	List Price	Days on Market
5	San Fernando St	Point Loma	5/5	5,994	$3,800,000	91
4	Rosecrans St	Point Loma	3/3	4,173	$4,150,000	12
3	Cordova St	OceanBeach	5/5	5,113	$4,200,000	243
2	Armada Ter	Point Loma	6/6	8,316	$4,495,000	305
1	Sefton Pl	Point Loma	8/5	6,769	$12,500,000	165

There are currently 99 homes for sale in 92106 and 92107 – Point Loma, OceanBeach

28 Pending escrows (Traditional sale escrows) with an average list price of $712,000

16 Contingent escrows (Short Sale escrows) with an average list price of $630,000

Recently sold average list price is $614,000 taking on average about 3 months to sell.

Search Point Loma and OceanBeach homes and call me for an appointment to view any of the homes you find.