Pam Ratcliffe | Home Simplicity, January 2024

JAN U ARY 2024

4another world:

homeofthe

month Coastal Comfort with Modern Elegance

756 E Avenue Coronado, CA 92118

pam ratcliffe REALTOR® | DRE# 01152227 619.981.5606 TeamRatcliffe@cox.net

Why Mortgage Rates Could Continue to Decline Inside Coldwell Banker Global Luxury’s Inaugural BEST OF THE BEST GUIDE

MEET

Pam Ratcliffe

I ENJOY HELPING PEOPLE. I am steadfast in embracing the future of real estate. By creating innovative solutions for tomorrow’s challenges, I will set the standard for business values, based on the image established by our founders and meet the needs of the clients I serve through changing times and thus, be the Real Estate Agent of choice in our market, today and tomorrow.

I have been a licensed REALTOR® for 26 years and I’ve lived in San Diego County for 35 years. I am in the top 3% out of all real estate agents combined nationwide and am very involved with my community and my church, and have served for many years on the board of directors at Paradise Valley Church as an advocate for victims of cerebral palsy.

MY GOAL. It is my goal as your full service real estate company specializing San Diego and surrounding areas, to provide you with superior service at all times. My local expertise and extensive real estate experience will benefit you whether you are serious about buying or selling a home at this time, or are a returning client checking out the many homeowner resources I offer.

“Pam is the best real estate agent in all of San Diego! I know this because I have dealt with so many realtors and she is hands down one of the best.

She is not only friendly but she is an amazing negotiator, great at her job, and actively involved within her community. She’s so responsive, on top of every deal, has amazing experience in the industry. Most importantly, she has integrity. That is so valuable. I highly recommend Pam and her team to anyone who is looking for a realtor!”

- Jasmine, San Marcos

HIGHLY LIKELY TO RECOMMEND

“Pam and her team are amazing! My fiancé and I were first time homebuyers and she took the time to carefully walk us through the process. We discussed with her what we were looking for in a home, and at every house Pam would discuss pluses and minuses and be completely honest about what we were buying. Furthermore, Pam was incredible at getting us the perfect house at the perfect price! She advocated for our needs when making offers and was able to settle aspects that my fiancé and I didn’t know we could get! She looked out for us throughout the entire process and has become a true friend to the family that we sincerely hope to stay in touch with!”

- Christina, San Diego

Pam Ratcliffe 619.981.5606 TeamRatcliffe@cox.net | TeamRatcliffe.com REALTOR® | DRE# 01152227

Guiding You

HOME

CONTENTS 4-30 10-13 20-23

GLOBAL LUXURY

38

LA MESA

38, 42

LAKESIDE

40-41

WHY MORTGAGE RATES COULD CONTINUE TO DECLINE

42

LEMON GROVE

42

MENIFEE

42

MISSION VALLEY

42

NORMAL HEIGHTS

43

NORTH PARK

43

OCEAN BEACH

43-44

OTAY MESA

44

PACIFIC BEACH

44-45

POINT LOMA

45

POWAY

45

RAMONA

45-46

RANCHO BERNARDO

46

SAN CARLOS

46

SANTEE

46

SPRING VALLEY

47

TEMECULA

HOME OF THE MONTH INSIDE COLDWELL BANKER GLOBAL LUXURY’S INAUGURAL BEST OF THE BEST GUIDE

32

BANKERS HILL

32

CARLSBAD

32-33

CHULA VISTA

34

CITY HEIGHTS

34

CLAIREMONT

34

CORONADO

35

DEL CERRO

35

DOWNTOWN

35-36

EL CAJON

36

ENCANTO

37

ENCINITAS

37

ESCONDIDO

37

FALLBROOK

37

GOLDEN HILL

37

HILLCREST

37

IMPERIAL BEACH

38

JACUMBA

38

LA JOLLA

Information current as of 12/27/23

HOME SIMPLICITY MAGAZINE

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A L P IN E

861 MIDWAY DRIVE

6 BR | 3 BA | 3,086 ESF $1,200,000 - $1,225,000 MLS# PTP2305978

B ONI TA

3442 MALPAZO COURT

5 BR | 5.5 BA | 6,006 ESF $1,999,000 MLS# PTP2304630

B O N ITA

200 SURREY DRIVE

5 BR | 3.5 BA | 2,965 ESF $1,249,900 MLS# PTP2305870

4

B O N ITA

3957 CORRAL CANYON ROAD 4 BR | 2 BA | 2,107 ESF $1,199,000 MLS# PTP2305599

B ONSAL L

30270 MONTRACHET STREET 4 BR | 6 BA | 5,618 ESF $2,300,000 MLS# 230023915

CARLSBAD

3419 PLEASANT VALE

5 BR | 3 BA | 2,705 ESF $1,624,900 MLS# 230022262

HOME SIMPLICITY MAGAZINE

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C A R M E L VA L LE Y

6183 SUMMIT CREST CIRCLE 5 BR | 5.5 BA | 6,200 ESF $3,898,000 MLS# NDP2308057

CHUL A VI S TA

1101 MAJESTAD LANE

7 BR | 11 BA | 7,475 ESF $3,499,900 - $3,999,999 MLS# PTP2301666

C H U L A V IS TA 415 HILLTOP DRIVE

4 BR | 5 BA | 5,067 ESF $2,499,900 MLS# PTP2305399

6

C H U L A V IS TA

1125 CARLOS CANYON

5 BR | 4.5 BA | 3,516 ESF $2,299,900 MLS# PTP2305195

CHUL A VI S TA

1120 SANTA DELPHINA AVENUE

4 BR + 1 OPTIONAL | 3 BA | 3,206 ESF $1,595,000 MLS# 230023030

C H U L A V IS TA

1745 LONE TREE ROAD

4 BR | 3.5 BA | 2,944 ESF $1,199,000 MLS# 230022417

HOME SIMPLICITY MAGAZINE

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C H U L A V IS TA 995 ROCA PLACE

5 BR | 4.5 BA | 2,704 ESF $1,175,880 MLS# PTP2304344

CHUL A VI S TA 1951 STRATA STREET

4 BR | 3.5 BA | 2,037 ESF $840,000 MLS# PTP2304500

COLLEGE AREA

4605 YERBA SANTA DRIVE

8 BR | 10 FULL & 2 HALF BA 15,000 ESF | $4,495,000 MLS# NDP2309491

8

CORONADO 3 THE POINT

7 BR | 8 FULL & 3 HALF BA | 11,715 ESF $43,000,000 MLS# SW23197501

COR ONADO 750-756 E AVENUE 4 UNITS $5,995,000 MLS# PTP2305516

CORONADO 247 B AVENUE

4 BR | 4 BA | 2,708 ESF $3,300,000 MLS# PTP2304442

HOME SIMPLICITY MAGAZINE

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COASTAL COMFORT WITH MODERN ELEGANCE 756 E Avenue, Coronado, CA 92118 10

homeofthe

month

HOME SIMPLICITY MAGAZINE

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7 5 6 E AV E N U E CORONADO, CA 92118

4-Bedroom House + Apartments with Garages | 4,376 ESF | Listed at $5,995,000 Exceedingly rare opportunity to acquire a distinctive property just four blocks from the pristine Coronado Center Beach! This meticulously remodeled estate comprises a luxurious 4-bedroom, 2.5-bathroom main residence adorned with designer fixtures and finishes plus three legal 1-bedroom, 1-bathroom rentals nestled behind.

both convenience and exclusivity. Each of the additional 1-bedroom, 1-bathroom units, separately metered for efficiency, presents an excellent income stream or a haven for hosting guests or family. With mini-splits and in-unit laundry enhancing each dwelling, these residences are ready for move-in.

The main house boasts an expansive front yard and a wraparound porch, offering ample outdoor space for hosting summer soirees with a touch of sophistication. Luxuriate in the allure of a first-floor primary suite, a captivating woodburning fireplace in the living room, and an inviting front porch that sets the tone for coastal elegance.

Revel in large private patios on the ground level and secluded decks above, showcasing ideal outdoor living.

This property, zoned R-3, not only stands as an excellent investment but also holds the promise of future development opportunities. Rarely does an opportunity of such distinction and versatility emerge—truly a treasure trove for the astute investor seeking both immediate returns and long-term potential. Embrace this move-in-ready masterpiece and unlock the doors to a lifestyle where luxury meets investment prowess.

Ideal for the discerning owner occupant, envision a yearround residence in coveted Coronado or maintain a piedà-terre while enjoying income from the rental units behind.

The allure is completed by four single-car garages, ensuring

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HOME SIMPLICITY MAGAZINE

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EL CAJON

2104 MIRAGE PLACE

4 BR | 3 BA | 2,530 ESF $1,300,000 MLS# PTP2305890

E NCANT O

1270 WEAVER STREET

3 BR | 2.5 BA | 2,031 ESF $839,000 MLS# PTP2305930

E N C IN ITA S 404 4TH STREET

4 BR | 3 BA | 1,757 ESF $7,000,000 MLS# 230019132

14

E N C IN ITA S

1058 3RD STREET

5 BR | 4 BA | 2,160 ESF $2,750,000 MLS# 230016161

IM PERIAL B EA C H 196 ELM AVENUE

3 BR | 2.5 BA | 1,848 ESF $1,100,000 MLS# PTP2304782

IM P E R IA L B E ACH 815 18TH STREET 2 UNITS $1,099,000 MLS# 230023048

HOME SIMPLICITY MAGAZINE

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L A K E A R R O W HE AD 27813 LOWER CREST DRIVE 2 BR | 2.5 BA | 2,038 ESF $875,000 MLS# PTP2304884

LA MESA

4487 71ST STREET

4 BR | 2 BA | 2,014 ESF $1,175,000 MLS# 230021743

M IS S IO N H IL L S

845 FORT STOCKTON DRIVE #105 3 BR | 3 BA | 2,671 ESF $1,899,000 MLS# 230024083

16

M IS S IO N H IL L S 1516 VINE STREET

3 BR + 1 OPTIONAL | 2.5 BA | 1,660 ESF $1,430,000 MLS# 230022912

MUR R I ETA

29223 BROKEN ARROW WAY

5 BR + 1 OPTIONAL | 2.5 BA | 3,675 ESF $749,996 MLS# 230019520

OCEAN BEACH 4353 NEWPORT AVENUE

3 BR | 1.5 BA | 1,363 ESF $1,795,000 MLS# 230020767

HOME SIMPLICITY MAGAZINE

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O C E A N S ID E 5814 RANCH VIEW

4 BR | 3 BA | 2,747 ESF $949,000 - $1,000,000 MLS# 230020534

OTAY MESA

5240 BEACHFRONT COVE STREET #91 3 BR | 2.5 BA | 1,687 ESF $719,900 MLS# PTP2306007

PA C IF IC B E A C H

4465 OCEAN BOULEVARD #1 2 BR | 2 BA | 1,140 ESF $1,850,000 MLS# 230019692

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Point Mortgage Corporation is licensed by the California Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act; License #4130876, NMLS ID #231073;H1061 del O M ETierra SIMP L I Rey, C I T YSuite MAGAZINE 302, Chula Vista, CA 91910; (pointmtg.com); +1 619.475.4095. © Point Mortgage Corporation. All rights reserved.

19

INSIDE COLDWELL BANKER GLOBAL LUXURY’S INAUGURAL GUIDE

Status, exclusivity, originality, craftsmanship, and, more recently, wellness. The word “luxury” has so many definitions. What has remained constant is luxury’s association with the finer things in life — the extraordinary things that inspire our joy, our love, our experiences, our memories.

Coldwell Banker Global Luxury Property Specialists are on the frontlines of these finer things every day — to the tune of $288 million in daily luxury property sales* — and naturally encounter the very objects that elevate a home above all others in the marketplace. These products, creature comforts, materials and design elements have been thrust into the spotlight for the very first time by the Coldwell Banker Global Luxury program in a shoppable guide called “Best of the Best.” ®

20

Carefully curated from survey insights gathered from Luxury Property Specialists worldwide, Best of the Best defines the most desirable amenities in a luxury home today and sheds new light on the must-have room comforts and features heading into 2024.

“Luxury Property Specialists are true ambassadors of the luxury lifestyle,” said Michael Altneu, vice president of Coldwell Banker Global Luxury.

“Thanks to their insights, consumers can now bring beauty and value to their own homes by directly shopping the curated collection of on-trend luxury products. These products truly represent the ‘best of the best,’ just like the homes they are so often found in, and are worthy of celebration.”

* To become a Luxury Property Specialist, affiliated sales associates must attend the Coldwell Banker Global Luxury® program certification course and apply for the designation with documentation showing they have three (3) qualifying transactions in a 24-month period, the earliest of which must be within three years of the latest certification course.

The threshold for luxury properties is determined by the top 10% of sales of the listing ZIP code.

Here’s a closer look inside Best of the Best 2023: WHAT TODAY’S MOST DESIRABLE HOMES HAVE IN COMMON: Must-haves include a chef ’s kitchen with unique features and tech-enabled appliances, multi-functional indooroutdoor living spaces that provide a seamless connection to nature, spa-like bathrooms that bring an oasis into the comfort of home, and advanced smart home technology that controls, automates and optimizes functions such as privacy, security, entertainment, lighting, temperature and landscaping, accessible from anywhere.

TWO KITCHEN ISLANDS ARE BETTER THAN ONE: DOUBLEDUTY KITCHEN ISLANDS ARE THE LEADING FEATURE IN CHEF’S KITCHENS. •

A double kitchen island with ample space for cooking, gathering and entertaining is the most important kitchen feature according to Coldwell Banker Global Luxury Property Specialists

•

A centerpiece of the luxury kitchen, elegant oven ranges and designer appliances provide sophistication with superior function

•

Statement range hoods with pops of color and unique design features that add style and personality

CREATING A STAYCATION EXPERIENCE: CABANAS AND NATURAL WATER FEATURES ARE THE MOST POPULAR ADDITIONS TO LUXURY BACKYARDS. Two-thirds of Coldwell Banker Global Luxury Property Specialists surveyed agree that the biggest trend in luxury outdoor spaces is the merging of indoor and outdoor living.

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The must-have amenities in indoor-outdoor living spaces include: •

State-of-the-art cabanas and pergolas offer resortstyle comfort and relaxation in one’s backyard

•

Water features, from heated swimming pools to waterfalls, fountains and plunge pools, provide an oasis-like atmosphere that every luxury buyer seeks

•

Outdoor living areas that serve as extended entertainment spaces such as sitting rooms, outdoor bars, expanded chef ’s kitchens with pizza ovens and built-in grills, expansive gas fire pits and movie screening areas under the stars

HAVING A SPA-LIKE BATHROOM WITH UNIQUE WELLNESS FEATURES IS TOP-OF-MIND FOR LUXURY HOMEOWNERS. To have a spa-like bathroom, one must have: •

22

A freestanding soaking tub is the leading trend in luxury bathrooms that epitomize elegance and relaxation, allowing one to lean back comfortably and be fully submerged

•

Hydrotherapy showers that offer a spa-like features with massage jets, customizable water pressure and a wide range of shower spray functions

•

Designated treatment rooms with spa-design elements such as heated floors and towel racks, and infrared saunas

WELLNESS PRODUCTS ARE THE TOP TECH PRODUCTS IN LUXURY HOMES. From advanced air purifiers to human-sized sound therapy pods, the key to smart home living is having a seamless integration where the technology enhances not only the home itself, but also the well-being of its inhabitants. Having technology that satisfies luxury consumers’ personal wellness needs is significantly reshaping the modern luxury home.

To own a smart home, one must have: •

Human-sized sound therapy meditation pods that gently mix body vibrations with immersive music, serving as a personal sanctuary to relieve stress

•

Tech-infused fitness equipment including immersive smart gyms with touchscreen mirror displays virtually bringing a variety of fitness experts into the home

•

Smart thermostats that allow complete control over the temperature of the home with voice command functions, realtime air quality monitoring and sensor technology that helps conserve energy

•

Advanced air purifiers that guarantee a near 100% particle-capture efficiency rate to eliminate pollutants in the home’s air, easily controlled from an app

More luxury trends and treasures, in packages large and small, are waiting discovered at CBGLBestoftheBest.com.

Source: https://blog.coldwellbankerluxury.com/inside-coldwell-banker-global-luxurys-inaugural-best-of-the-best-guide/

HOME SIMPLICITY MAGAZINE

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P O IN T L O M A

870 SAN ANTONIO PL

4 BR + 1 OPTIONAL | 4 FULL & 2 HALF BA 3,060 ESF | $3,498,000 MLS# 230020748

P OI NT L OM A

3634 PLUMOSA DRIVE

4 BR | 4 BA | 2,887 ESF $3,285,000 MLS# PTP2304348

P O IN T L O M A

1355 WILLOW STREET

5 BR | 6 BA | 4,662 ESF $2,600,000 MLS# PTP2305754

24

P O IN T L O M A

3766 TENNYSON STREET 3 BR | 2 BA | 1,400 ESF $2,295,000 MLS# 230023024

P OI NT L OM A

3594 CANON STREET

3 BR + 1 OPTIONAL | 3.5 BA | 2,449 ESF $2,295,000 MLS# 230018014

P O IN T L O M A

3951 ATASCADERO DRIVE 4 BR | 4 BA | 2,757 ESF $2,150,000 MLS# 230022313

HOME SIMPLICITY MAGAZINE

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P O IN T L O M A

1986 VENICE STREET

4 BR + 1 OPTIONAL | 3 BA | 1,833 ESF $2,150,000 MLS# 230023874

P OI NT L OM A

3343 WISTERIA DRIVE

4 BR | 3 BA | 2,609 ESF $2,099,000 MLS# 230024368

P O IN T L O M A

3851 CENTRALOMA DRIVE 6 BR | 3.5 BA | 2,651 ESF $2,050,000 MLS# 230021014

26

R A N C H O B E R NARD O 9208 FOSTORIA COURT

5 BR | 5.5 BA | 4,759 ESF $3,789,999 MLS# 230023499

R ANCHO PEN A S QU I TOS 12728 HAGERSWOOD COURT 4 BR | 3 BA | 2,124 ESF $1,675,000 MLS# 230023835

R A N C H O S A N TA FE

16715 CAMINO SIERRA DEL SUR

8 BR + 2 OPTIONAL 11 FULL & 3 HALF BA | 16,322 ESF $19,500,000 | MLS# 230020749

HOME SIMPLICITY MAGAZINE

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R A N C H O S A N TA FE 308 FLORES DE ORO

5 BR + 3 OPTIONAL | 6.5 BA | 7,970 ESF $5,675,000 MLS# 230019614

R ANCHO SA N TA F E 6907 EL CAMINO DEL NORTE 4 BR | 3.5 BA | 4,419 ESF $3,499,900 - $3,999,900 MLS# PTP2303883

S A N TA L U Z

8024 ENTRADA DE LUZ WEST

4 BR + 1 OPTIONAL | 5.5 BA | 5,620 ESF $5,495,000 MLS# 230023790

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SERRA MESA

8260 AINSLEY COURT

3 BR | 2 BA | 1,200 ESF $950,000 - $1,100,000 MLS# NDP2309262

S OL ANA BE A C H 917 HIGHLAND DRIVE

4 BR | 4.5 BA | 3,027 ESF $2,700,000 MLS# NDP2309200

T IE R R A S A N TA 4884 VALDINA WAY

2 BR | 2.5 BA | 1,908 ESF $999,000 MLS# 230021619

HOME SIMPLICITY MAGAZINE

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V IS TA

753 N EMERALD DRIVE

4 BR | 3 BA | 2,056 ESF $1,399,000 MLS# PTP2304787

GREAT FUTURE IS IN GOOD CHARITY.

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ITY MAGAZINE

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32

BA NK E R S H I L L

C H ULA VISTA

2770 2ND AVENUE #113 2 BR | 2.5 BA | 1,617 ESF $949,500 MLS# 230015064

2600 TABLE ROCK AVENUE 5 BR | 3.5 BA | 2,705 ESF $1,075,000 - $1,175,000 MLS# PTP2305572

CA RL S BA D

C H ULA VISTA

2324 LA COSTA AVENUE UNIT C 2 BR | 2.5 BA | 2,002 ESF $1,150,000 MLS# NDP2308505

1139 SECOND AVENUE 2 UNITS $1,085,000 MLS# PTP2305991

CA RL S BA D

C H ULA VISTA

3423 DON JOSE DRIVE 2 BR | 2 BA | 1,800 ESF $750,000 MLS# PTP2305920

832 COUNTRY CLUB DRIVE 3 BR | 2 BA | 2,218 ESF $950,000 MLS# PTP2304393

CHU L A V I S TA

C H ULA VISTA

835 COLORADO AVENUE 2 UNITS $850,000 - $895,000 MLS# 230011818

1559 BROADWAY #77 1 BR | 1 BA | 636 ESF $340,000 - $360,000 MLS# PTP2303828

CHU L A V I S TA

C H ULA VISTA

1220 ARUBA COVE #2 2 BR | 2 BA | 1,180 ESF $599,000 - $615,000 MLS# PTP2306075

1925 OTAY LAKES ROAD #124 2 BR | 2 BA | 1,440 ESF $199,000 MLS# PTP2305798

CHU L A V I S TA

C H ULA VISTA

1640 MAPLE DRIVE #34 3 BR | 2.5 BA | 1,720 ESF $595,000 MLS# PTP2305209

502 ANITA STREET #79 2 BR | 2 BA | 1,392 ESF $169,999 MLS# PTP2306097 HOME SIMPLICITY MAGAZINE

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34

CI T Y HE I G H TS

C ITY H EIGH TS

4082 CHAMOUNE AVENUE 3 UNITS $1,199,900 MLS# PTP2305396

3737 MENLO AVENUE 3 BR | 1 BA | 895 ESF $699,999 MLS# PTP2306129

CI T Y HE I G H TS

C LAIREM ON T

4216 CHAMOUNE AVENUE 2 UNITS $1,099,900 MLS# PTP2305205

4198 MOUNT ALIFAN PLACE UNIT O 2 BR | 2 BA | 1,140 ESF $579,995 MLS# 230022100

CI T Y HE I G H TS

C ORON AD O

4220 CHAMOUNE AVENUE 2 UNITS $999,900 MLS# PTP2305190

1101 1ST STREET #210 2 BR | 2.5 BA | 1,815 ESF $1,950,900 - $2,250,000 MLS# PTP2305645

D E L C E RR O

DOWN TOWN

5581 BRUNSWICK AVENUE 3 BR | 2 BA | 1,515 ESF $999,000 - $1,100,000 MLS# PTP2306091

350 11TH AVENUE #327 1 BR | 1 BA | 855 ESF $635,000 MLS# 230021971

D O W NT O W N

EL C AJON

1199 PACIFIC HIGHWAY #701 2 BR | 2 BA | 1,684 ESF $1,299,000 MLS# PTP2305527

1364-1366 NARANCA AVENUE 3 UNITS $1,594,000 MLS# 230021721

D O W NT O W N

EL C AJON

1080 PARK BOULEVARD #415 2 BR | 2 BA | 1,422 ESF $735,000 MLS# 230024171

438 FILBERT STREET 2 UNITS $1,250,000 MLS# PTP2305777 HOME SIMPLICITY MAGAZINE

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E L CA J O N

EL C AJON

522 MARY LANE 4 BR | 2.5 BA | 1,836 ESF $850,000 MLS# PTP2306077

3321 DEHESA ROAD #95 2 BR | 2 BA | 1,371 ESF $549,000 MLS# PTP2305869

E L CA J O N

EL C AJON

8548 RANCHO CANADA ROAD 3 BR | 2 BA | 1,377 ESF $750,000 MLS# PTP2306148

550 GRAVES AVENUE #27 2 BR | 2 BA | 874 ESF $427,000 MLS# 230023614

E L CA J O N

EN C AN TO

217 JOYCE STREET 3 BR | 2 BA | 1,208 ESF $729,000 MLS# 230022907

806 SELMA PLACE 2 BR | 1 BA | 1,007 ESF $550,000 MLS# 230024379

E NCI NI TA S

GOLDEN H ILL

1232 N COAST HIGHWAY #101 2 UNITS $3,999,000 MLS# NDP2309465

230 20TH STREET 3 BR | FULL & 2 HALF BA | 1,302 ESF $1,500,000 MLS# PTP2303894

E S C O ND I D O

H ILLC REST

1020 E WASHINGTON AVENUE #92 2 BR | 2 BA | 1,178 ESF $520,000 MLS# NDP2309454

4193 4TH AVENUE 3 BR | 1.5 BA | 1,029 ESF $1,099,000 MLS# 230021870

FA L L B R O O K

IM PERIAL BEAC H

2054 E MISSION ROAD 2 UNITS $849,000 MLS# PTP2305878

556 8TH STREET 4 UNITS $1,995,000 MLS# PTP2305889 HOME SIMPLICITY MAGAZINE

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J A CU M B A

LA M ESA

DESERT VIEW TOWER & 3 HOMES LANDMARK + 3 HOMES | OVER 90 ACRES $2,250,000 MLS# 230000626

4449 MAPLE AVENUE 5 BR | 3 BA | 1,844 ESF $1,250,000 MLS# 230023044

LA J O L L A

LA M ESA

2120 VALLECITOS #102 2 BR | 2 BA | 1,364 ESF $2,500,000 MLS# 230023397

3689 AVOCADO VILLAGE COURT #189 1 BR | 1 BA | 814 ESF $469,000 MLS# PTP2306088

LA J O L L A

LAKESIDE

2278 CAMINITO PRECIOSA NORTE 3 BR | 3 BA | 2,012 ESF $1,560,000 MLS# PTP2305885

9130 HILLMAN WAY 3 BR | 2 BA | 1,680 ESF $939,900 MLS# 230024264

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Why Mortgage Rates Could Continue To

When you read about the housing market, you’ll probably come across some information about inflation or recent decisions made by the Federal Reserve (the Fed). But how do those two things impact you and your homebuying plans? Here's what you need to know.

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The Federal Funds Rate Hikes Have Stalled

The Federal Funds Rate Hikes 2022-Present, Rate Change in Basis Points Source: The Fed

One of the Fed’s primary goals is to lower inflation.

In order to do that, they started raising the Federal Funds Rate to slow down the economy. Even though this doesn’t directly dictate what happens with mortgage rates, it does have an impact.

Recently inflation has started to cool, a signal those increases worked and are bringing inflation back down. As a result, the Fed’s hikes have gotten smaller and less frequent. In fact, there haven’t been any increases since July (see graph on left):

And not only has the Fed decided not to raise the Federal Funds Rate the last three times the committee met, they’ve signaled there may actually be rate cuts coming in 2024. According to the New York Times (NYT):

“Federal Reserve officials left interest rates unchanged in their final policy decision of 2023 and forecast that they will cut borrowing costs three times in the coming year, a sign that the central bank is shifting toward the next phase in its fight against rapid inflation.”

This indicates the Fed thinks the economy and inflation are improving. Why does that matter to you and your plans to buy a home? It could end up leading to lower mortgage rates and improved affordability.

Mortgage Rates Are Coming Down Mortgage rates are influenced by a wide variety of factors, and inflation and the Fed’s actions (or as has been the case recently, inaction) play a big role. Now that the Fed has paused the increases, it looks more likely mortgage rates will continue their downward trend (see graph on right):

Mortgage Rates Drop Below Seven Percent January 2023 – Today U.S. Weekly Averages as of 12/14/2023 Source: Freddie Mac

Although mortgage rates may remain volatile, their recent trend combined with expert forecasts indicate they could continue to go down in 2024. That would improve affordability for buyers and make it easier for sellers to move since they won’t feel as locked-in to their current, low mortgage rate.

Bottom Line

The Fed’s decisions have an indirect impact on mortgage rates. By not raising the Federal Funds Rate, mortgage rates are likely to continue declining. Let’s connect so you have expert advice about changes in the housing market and how they affect you.

Source: https://www.mykcm.com/blog/why-mortgage-rates-could-continue-to-decline

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LA K E S I D E

M EN IFEE

10246 LOS NOPALITOS 3 BR | 2 BA | 1,466 ESF $849,000 MLS# 230023690

29527 CARMEL ROAD 2 BR | 2 BA | 1,404 ESF $369,999 MLS# PTP2303358

LA K E S I D E

M ISSION VALLEY

12069 LEMON CREST DRIVE 4 BR | 2.5 BA | 1,324 ESF $595,000 MLS# PTP2305778

5895 FRIARS ROAD #5306 2 BR | 2 BA | 1,112 ESF $695,000 MLS# PTP2305676

LE M O N G R OV E

N ORM AL H EIGH TS

3675 GROVE STREET #178 2 BR | 2 BA | 1,022 ESF $519,000 MLS# PTP2306142

3050 SUNCREST DRIVE #7 2 BR | 1.5 BA | 1,016 ESF $620,000 MLS# PTP2305464

NO R T H PA RK

OTAY M ESA

2277 BOUNDARY STREET 4 BR | 3 BA | 1,490 ESF $1,199,000 MLS# NDP2307303

1164 SURFWOOD LANE 5 BR | 3 BA | 2,872 ESF $1,069,000 - $1,100,000 MLS# PTP2305791

O C E A N B E ACH

OTAY M ESA

4844 LONG BRANCH AVENUE 1 BR | 2 BA | 504 ESF $1,299,900 MLS# 230024233

1252 SURFWOOD LANE 5 BR | 3 BA | 2,872 ESF $950,000 MLS# PTP2306111

O C E A N B E ACH/SUNSE T CL I F F S

OTAY M ESA

5015 SANTA CRUZ AVENUE #309 1 BR | 1 BA | 609 ESF $998,000 MLS# 230023036

4233 LEMONSEED DRIVE 5 BR | 4.5 BA | 2,731 ESF $810,000 - $895,000 MLS# PTP2305662 HOME SIMPLICITY MAGAZINE

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O TAY ME S A

OTAY M ESA

3670 ROSA LINDA STREET 3 BR | 2 BA | 1,110 ESF $699,000 MLS# PTP2303428

3530 AREY DRIVE #2 3 BR | 2 BA | 1,071 ESF $499,900 MLS# PTP2306070

O TAY ME S A

PAC IFIC BEAC H

5381 CALLE ROCKFISH #62 3 BR | 2.5 BA | 1,595 ESF $600,000 - $650,000 MLS# PTP2304919

4627 OCEAN BOULEVARD #220 1 BR | 1.5 BA | 629 ESF $1,075,000 MLS# 230023597

O TAY ME S A

POIN T LOM A

6289 AVENIDA DE LAS VISTAS #6 2 BR | 2 BA | 1,141 ESF $549,900 MLS# PTP2305603

3142 GROTON WAY #4 2 BR | 2 BA | 1,018 ESF $629,000 MLS# 230021961

PO I NT L O MA

RAM ON A

390 SAN ANTONIO AVENUE UNIT 13C 2 BR | 2 BA | 1,275 ESF $499,000 MLS# 230023183

1845 OLIVE STREET 1 BR | 1 BA | 1,432 ESF $750,000 - $800,000 MLS# PTP2306173

PO WAY

RAN C H O BERN ARDO

13104 DANA VISTA STREET #350 4 BR | 2 BA | 1,980 ESF $359,000 MLS# PTP2305713

12132 ROYAL BIRKDALE ROW UNIT 106E 2 BR | 2 BA | 1,457 ESF $799,000 MLS# PTP2306066

PO WAY

RAN C H O BERN ARDO

13314 DANA VISTA STREET #106 3 BR | 2 BA | 1,200 ESF $299,900 - $339,000 MLS# PTP2302052

17337 PLAZA MARIA 3 BR | 2 BA | 1,431 ESF $739,000 MLS# 230020139 HOME SIMPLICITY MAGAZINE

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RA NCHO BE R NAR DO

SAN TEE

13175 WIMBERLY SQUARE #298 2 BR | 2 BA | 907 ESF $625,000 MLS# PTP2306005

9808 SHIRLEY GARDENS DRIVE #1 2 BR | 1.5 BA | 912 ESF $468,000 MLS# PTP2305632

SA N C A R L O S

SPRIN G VALLEY

8233 SAN CARLOS DRIVE 3 BR | 2 BA | 1,164 ESF $869,500 MLS# PTP2305031

3329 MANDY LANE 5 BR | 2.5 BA | 2,225 ESF $910,000 MLS# 230015849

SA N T E E

SPRIN G VALLEY

10794 RIDERWOOD TERRACE UNIT B 2 BR | 2.5 BA | 1,017 ESF $534,900 MLS# PTP2305674

9836 ARAPAHO STREET 3 BR | 1.5 BA | 1,230 ESF $499,000 MLS# 230023916

T E M E CU L A 43192 CORTE ASTORGA 5 BR | 2.5 BA | 2,573 ESF $795,000 MLS# 230022991

Your dreams don’t have to be just dreams.

Where’s your next move?

HOME SIMPLICITY MAGAZINE

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PAM RATCLIFFE REALTOR ® | DRE# 01152227

619.981.5606 TeamRatcliffe@cox.net

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