Encitinas 'Extreme Makeover' Home Revealed

The "Extreme Makeover" of a San Diego North County home was revealed on ABC recently, the hit show transformed the cramped home of an Encinitas widower, Brian Wofford, into his family's dream home. After his wife died, Wofford single-handedly raised his eight children and was unable to keep up with needed repairs for their three-bedroom, two-bathroom home. So, "Extreme Makeover" sent a design team, contractors and more than 150 workers to give the family a hand.
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Interesting statistics on the California real estate market

Here are some interesting statistics on the California real estate market:

• There are 6,983,500 California homeowners.
• Homes appreciated an average of 21.4 percent in the last year.
• The median home price in California is $460,370
• The average equity gain in California, therefore, was approximately $92,000.
• California homeowners realized a real estate equity gain of $644 billion.

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There are a lot of opinions regarding the future of the San Diego real estate market. Property values have increased more than twenty percent annually in many neighborhoods during the past five years. What are the factors that will weigh on the future of the housing market?

The supply of new and existing homes for sale has been tight. Demand from home buyers has been strong and unwavering. How much will future interest rate increases slacken the demand to buy homes? If the price increases continue, how high will the prices go before the buyers stop buying? Only about 16% of familes in San Diego county can afford to buy homes at current prices. Will rising rents ultimately hurt the local job market? In comparison to other tourist destination cities around the world, San Diego home prices may not be so high after all. Post thoughts about the San Diego real estate market here.