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Fed Slows Down on Plans to Pursue Interest Rate Increases​                    MARCH 16, 2016

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30-Year Fixed Rates are Lower than Ever!

San Diego County's upward housing price trends match national figures, the S&P/Case-Shiller reported Tuesday.

The June home price index, which tracks same-house sales over time, was up 4.5 percent nationally and 4.6 percent locally from the same month last year.

David Blitzer, S&P's managing director and chairman of S&P's index committee, discounted any spillover effect on housing from the 

San Diego housing prices up 4.6% in June​​

WASHINGTON — The Federal Reserve has once again pared its plans for raising interest rates, citing the weakness of the global economy as a reason for greater caution about the prospects for domestic growth.

currently volatile stock market, at least for now. Since last Tuesday, the S&P 500 stock index has dropped 10.9 percent.​

"A stock market correction is unlikely to do much damage to the housing market," Blitzer said in a statement.  "A full-blown bear market dropping more than 20 percent would present some difficulties for housing and for other economic sectors."​

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San Diego Home Prices Jump, Case-Shiller says


What Home Buyers and Sellers Should know about Appraisals

Home prices increased by 0.8 percent in July and 5.4 percent over the full year in San Diego County, which posted the nation’s largest monthly gain, according to the S&P/Case-Shiller Home Price Indices released Tuesday.

The Fed’s policy-making committee voted not to raise its benchmark rate at a meeting that ended on Wednesday, although general expectations at the beginning of the year were for an increase this month. And it pulled back sharply from a December prediction that the rate would rise by one percentage point this year. Fed officials now expect to raise rates by just half a percentage point this year.

Janet L. Yellen, the Fed’s chairwoman, said the central bank remained relatively optimistic about the domestic economy, which she said had shown no signs of damage from the wobbles of financial markets or from weak global growth. But she said that prudence dictated caution.

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The data, which are adjusted for seasonal swings, show the market was still delivering the kind of single-digit price appreciation considered sustainable by housing economists.

In 2013 and the first half of 2014, local prices increased at annual rates of between 10 percent and 20 percent. Such gains were reminiscent of the mid-2000s housing bubble and far outpaced the income growth of the average potential buyer. For perspective, personal incomes in San Diego County increased by an average 3.5 percent a year from 2009 through 2013, according to federal figures.

However, since August 2014 the annual rate of home price appreciation has bounced between 5 percent and 6 percent. This produces rising wealth for homeowners, because it’s still well above the 2 percent or so rate of general inflation that includes other consumer prices.

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               hen it comes to real estate, the appraisal is the linchpin around which                  all else revolves. Both buyers and sellers are in a holding pattern until                  the appraiser arrives at the property, looks it over and comes back

               with a figure for what he thinks the place is worth.

Such is the case whether the property in question is a single-family house in the suburbs or a $200-million office tower in the city.

"Nothing happens in real estate until the appraisal report is signed and an opinion of the property's value is provided," says Brian Coester, an appraiser who presides over his own appraisal management company.

With that in mind, here are some things you should know:

​•There is a major disconnect within the lending business. Some lenders — and real estate agents — think the appraiser's job is to get the deal done, whereas appraisers generally think of lenders as money-hungry outfits that don't understand the appraisal profession.

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