San Diego home prices going up 3rd fastest in nation at rates not seen since 2014

San Diego home prices went up the third fastest in the nation in September and appreciated at a pace not seen in more than six years.

Prices in the San Diego metropolitan area were up 9.5 percent annually, the S&P CoreLogic Case-Shiller Indices reported Tuesday. The acceleration is still not near housing boom levels when, in July 2004, prices were up 33.37 percent in a year.

Only Phoenix, up 11.4 percent, and Seattle, up 10.1 percent, saw prices go up faster in September. But all markets covered in the 19-city index were up, even places like New York and San Francisco, that saw price gains slow considerably since the start of the COVID-19 pandemic.

Zillow economist Matthew Speakman said price gains are the result of mortgage rates at record lows and a lack of homes for sale nationwide. He said competition for homes has put upward pressure on prices for

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HUD Awards San Diego Housing Commission 100 Federal Rental Housing Vouchers

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The U.S. Department of Housing and Urban Development Monday awarded 100 federal rental housing vouchers to the San Diego Housing Commission, valued at nearly $1.3 million.

HUD’s Mainstream Voucher program is intended to help pay rent for households with low incomes or experiencing homelessness that include adults between the ages of 18 and 61 who have disabilities.

The federal Coronavirus Aid, Relief, and Economic Security Act allowed HUD to allocate additional vouchers to public housing authorities “to help them prevent, prepare for and respond to coronavirus in their communities.”

“The COVID-19 pandemic has demonstrated the importance of having a home you can afford, especially for vulnerable populations, including adults with disabilities,” said Richard Gentry, the Housing Commission’s president and CEO. “These additional housing vouchers will provide essential rental assistance for these households.”

The vouchers awarded to

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DVIDS – News – USS Spruance (DDG 111) Returns to Naval Base San Diego after Completing Contractor Sea Trials

NAVAL BASE SAN DIEGO (November 9, 2020) – The guided missile destroyer, USS Spruance (DDG 111) returned to Naval Base San Diego after completing a four-day sea trial event that concluded a nine-month drydock selected restricted availability (DSRA), November 1.

BAE was awarded the multi-million-dollar contract for the Chief of Naval Operations (CNO) maintenance period, which included work on the underwater hull, sonar dome, super structure and propulsion systems. Additionally, the ship’s combat system and communications equipment were upgraded, and Spruance became one of eight ships to receive the newly-designed laser weapons system, Optical Dazzling Interdictor (ODIN).

The availability’s final week played host to a successful but condensed Engineering Light-Off Assessment (LOA), where Afloat Training Group (ATG) and Engineering Assessments Pacific (EAP) materiel experts evaluated the ship’s propulsion plant, damage control systems and casualty control procedures. USS Spruance became the first Pacific Fleet destroyer to undergo LOA while simultaneously

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Trying to buy a home in San Diego? Experts say to do these things first

Buying a home in San Diego is not for the faint of heart.

County home prices have increased 10.2 percent since the pandemic began. That makes the process of purchasing a house stressful for even the most hardcore money savers. While interest rates are at historic lows — an average 2.89 percent in September — it is hard to find many scenarios where it is cheaper to buy than it was a year ago.

A drop in available homes for sale, also cited as the biggest reason for increased prices, has meant bidding wars that drive up the price, pushing many home buying candidates out of the market.

The San Diego Union-Tribune spoke with local experts and Zillow about steps buyers can take to get an edge.

Get pre-approved for a mortgage

Having financing in order before the price war begins is key because it helps potential buyers act quickly

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San Diego Padres Star Manny Machado Adds $7.2M Coral Gables Estate to His Portfolio

As the abbreviated baseball season was winding down, San Diego Padres slugger Manny Machado was busy making real estate deals in South Florida.

The property on which Machado’s new abode sits was purchased by a local builder in February 2016 for $2.15 million.

After the purchase, the company began construction on a massive, 10,301-square-foot estate designed by the renowned architect Max Strang. According to the listing details, the mansion was finished in July 2020.

Prior to its completion, the unfinished spec home landed on the market in 2018 with an asking price of $8.6 million. It lingered on the market for a couple of years before Machado made a deal for the modern two-story manse.

The custom dwelling features seven bedrooms, 6.5 bathrooms, and 7,411 square feet on just under an acre.

The listing details touted a minimalist design with a unity between indoor and outdoor spaces, a big

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San Diego home prices increasing 3rd-fastest in nation

San Diego home prices went up the third-fastest in the nation in August and appreciated at a pace not seen in more than two years.

Prices in the San Diego metropolitan area were up 7.6 annually, the S&P CoreLogic Case-Shiller Indices reported Tuesday. It was the fastest increase since April 2018 and the first time the region cracked the top three in seven months.

The only places that recorded faster increases were Phoenix, up 9.9 percent, and Seattle, up 8.5 percent. However, all markets in the 19-city index had notable increases despite the pandemic, with average nationwide prices up 5.7 percent annually.

Economists point to a lack of available homes for sale as the main driver of prices. Many potential sellers have elected to keep properties off the market as they wait out the pandemic, making the competition for a limited pool of homes very intense. Secondary factors are record

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