Wilcox Estates Moved!

I am so excited to announce I have moved my Real Estate business to Canter! If you know anyone thats looking to buy, sell, or invest in real estate now is the best time. Rates are low and prices are competitive. At Canter I have a great team of Lenders, Lawers, Wealth Management Team, and Development Team who are ready to help with any project big or small.

About Canter: 

Canter Companies is a full-service investment firm headquartered in San Diego, California. Offering comprehensive services, Canter can easily oversee the entire lifecycle of a project through acquisition, funding, development and sales. Our proprietary research and analytical processes help us identify potential opportunities and exploit market inefficiencies. Because of our well-honed ability to pinpoint unrealized opportunities, Canter has a proven track record of success throughout various market cycles. We also have affiliates and advisors in the Central Valley and Bay Area to service our growing clientele. Our relationships with our partners and affiliates allow us to entertain other unique investment opportunities outside the real estate industry.

Why Canter: 

Canter Brokerage is known for offering the most innovative marketing strategies to attract potential buyers. We believe there are many elements to a successful marketing program and take pride in our implementation of traditional tactics with an innovative approach. A customized blend of these elements combined with your property’s features and a suggested price range delivers signi cant results. Our network and reach extends throughout the San Diego community, the region of Southern California, and around the globe. We are constantly working to gain access to more qualified, motivated buyers and bring them to your home. Our primary goal is to sell your home.

We are always searching for new ways to draw attention to your home making it more appealing to buyers, ensuring you have the best results. We want your home to be seen by as many audiences as possible. Print and digital advertising allows us to leave a lasting impression of how special your home is. Our adverting campaigns are strategically designed to attract qualified buyers. The Canter Brokerage marketing department includes graphic designers and copywriters who create advertisements with impact. We have the ability to advertise your home in several print publications, which may include local and regional, daily and weekly newspapers, real estate and lifestyle publications, and periodicals. Cory Wilcox

760.707.6021
corywilcoxre@gmail.com

4 Reasons To Stay Invested In U.S. Housing

The stock market’s wild ride over the last couple of months may have introduced a measure of uncertainty into the investment outlook for some sectors of the global economy. However, U.S. housing was not one of them. 

America’s housing market is continuing to grow faster than the economy overall. We are seeing a number of opportunities and remain constructive on the sector. Here are four reasons why:




1. Strong job growth and consumer confidence: The U.S. economy has added roughly 3 million private sector jobs over the past year. This includes more than 750,000 new jobs in the 25- to 34-year-old cohort, an important segment for first-time buyers, a rate that is near a 15-year high. A pickup in wage growth is likely given the improvement in the labor market; the unemployment rate declined by 2.4% in the past two years to reach 5.1%. We expect more jobs and higher incomes will lead to rising consumer confidence and demand for homes, even in the face of modestly higher mortgage rates.




2. Low inventories and rising pent-up demand: Both the absolute level of inventory of new and existing homes (now 2.5 million units total) and inventory as a percentage of households (now 1.6%) are at or near 15-year lows. Over the past year, 1.5 million new households have formed; that compares with less than 1.2 million new housing units. In addition, over 30% of 18- to 34-year-olds are living at home. What does this mean? A lot of pent-up demand, and if it picks up, as we expect, housing starts will likely rise toward 1.5 million units (or higher) in the next two to three years. Simply put, with residential investment spending at 3.3% of GDP, the U.S. has been significantly under-building relative to long-term demand (the 55-year average is 4.5% of GDP – see Figure 1).

3. Willingness to lend and expanding demand for credit: Banks are finally lending again! In reviewing second quarter 2015 earnings details, we noticed that mortgage origination growth at all four of the largest U.S. banks rose by double digits. At the same time banks are increasing their willingness to lend, households are becoming more confident and many are now in a position to re-lever: Consumer debt service ratios are near 35-year lows. Importantly, a significant number of previously foreclosed homeowners could become eligible to buy a home over the next five years. As such, the demand and supply of credit is likely to pick up, which should support the U.S. housing market.




4. Relative affordability: At this juncture, owning a house is incredibly cheap – both from a historical affordability perspective and relative to the cost of renting (see Figure 2). Although some have expressed concerns rising rates will reduce affordability, keep in mind that it would take a two percentage point rise in mortgage rates to go back to the long-term average. A very modest pickup in mortgage rates, which are currently under 4%, can be handled by an economy adding 3 million jobs in the private sector alone, in our view.

How to take advantage of current trends

In many regions across the country, there is a significant shortage of housing inventory relative to job creation. In Orange County, California, for example, job growth is overwhelming housing inventory by a ratio of five to one. Our view based on the most recent data is that home ownership is cyclical: As housing prices rise, people become more confident, credit becomes more available. The most recent data on housing starts suggests a shift toward single family home construction. Home builder sentiment is at the highest level it’s been since November 2005. We expect companies tied to housing will see earnings growth much higher than the markets overall.

Investors seeking to capitalize on these trends should stay overweight U.S. housing and housing-related sectors. We continue to see value in select companies in areas such as building materials, home improvement, title insurance, homebuilding, banks and specialty finance companies as well as in non-agency mortgage-backed securities(MBS).

MILLION-DOLLAR HOME SALES UP AGAIN IN THE GOLDEN STATE

MILLION-DOLLAR HOME SALES UP AGAIN IN THE GOLDEN STATE Source: DQNews La Jolla, CA.—-The number of California homes that sold for a million dollars or more rose to its highest level in seven years last quarter, the result of rising home prices and an improving economy. The luxury market’s high end continues to do best, with record sales above the $2 million mark, a real estate information service reported. A total of 12,826 homes sold for a million dollars or more during the April-through-June period. That was up 60.4 percent from 7,994 during this year’s first quarter, and up 9.1 percent from 11,758 in second-quarter 2013. Last quarter’s $1 million-plus sales were the highest for any quarter since 13,681 homes sold for $1 million or more in second-quarter 2007, according to CoreLogic DataQuick. The all-time high was third-quarter 2005, when 15,898 Golden State homes sold for a million dollars or more. The nine-county San Francisco Bay Area stood out last quarter: The 5,734 sales there of $1 million or more represented an all-time high. The previous peak was 5,699 in second-quarter 2005. While statewide $1 million-plus home sales rose 9.1 percent year-over-year in the second quarter, total sales across all price categories fell 7.4 percent. Two of the main reasons for the increase in $1 million-plus sales are increased demand, and robust price appreciation that over the past year has pushed more homes up over the million-dollar threshold. “It’s always fascinating to watch this part of the real estate market. It behaves differently, responds to its own set of criteria. These buyers, especially those in the multi-million-dollar market, are less likely to agonize over credit scores, income and job security, down payments and mortgage interest rates,” said Andrew LePage, CoreLogic DataQuick analyst. “While we can only speculate, it seems self-evident that luxury home buyers have substantial assets, and they’re constantly evaluating where to park those assets. Right now it’s interesting that there appears to be enough inventory to meet the demand for luxury homes. That’s not always the case in many mid-priced and lower-cost housing markets, where demand continues to outweigh supply,” LePage said. A total of 265 homes sold for more than $5 million last quarter, an all-time high. In the $4-$5 million range, a record 213 homes sold. In the $3-$4 million range, 469 homes sold, also a record. In the $2-$3 million range, 1,595 homes sold, another high. In the $1-$2 million range, 8,381 sold last quarter, still behind the record 9,885 sold in second-quarter 2005. There were 1,923 sales where the price was unavailable, but where it could be determined that the price exceeded $1 million because of the size of the mortgage. San Diego-based DataQuick was acquired in March by Irvine-based CoreLogic, a leading global property information, analytics and data-enabled services provider. CoreLogic DataQuick monitors real estate activity nationwide and provides information to consumers, educational institutions, public agencies, lending institutions, title companies and industry analysts. The million-dollar transactions include home sales where it could be determined from public records that there was a buyer, a seller, that money changed hands, and that there was a legal transfer of property ownership. Not included were property swaps, sales of multiple lots, sales where no price or loan amount was available, teardowns, and large farm or ranch properties. Sales to companies and trusts were included. Last quarter 3,882 of the homes that sold for $1 million or more were purchased with cash. In the luxury market, the higher the price, the more frequently cash was used. Of those who did finance their purchase last quarter, the median down payment was 30.0 percent of the purchase price. The lending institutions most willing to provide mortgage financing for homes that sold for $1 million-plus were Wells Fargo, Union Bank and Bank of America. The most expensive confirmed purchase last quarter was a 11,637-square-foot, 4-bedroom, 6-bathroom Westwood mansion built in 1931 which sold for $45,000,000 in May. The largest was a 16,840 sq.ft. 6-bedroom, 13-bathroom mansion in Indian Wells that sold for $4.5 million. In some communities virtually all home sales were in the million-dollar category. Among them: Hillsborough, Rancho Santa Fe, Atherton and Los Altos. Newly-built homes accounted for 8.8 percent of last quarter’s $1 million-plus sales. Condo sales made up 10.1 percent. Most $1 million-plus condos were sold in Los Angeles, San Francisco and San Diego counties. The median-sized $1 million-plus home was 2,400 sq.ft. with 4 bedrooms and 3 bathrooms. The median price paid per square foot for all million-dollar homes last quarter was $729, up 7.6 percent from $678 in second-quarter 2013. For the overall California market, the square-foot median was $226 last quarter, up 13.0 percent from $200 in second-quarter 2013, CoreLogic DataQuick reported. There are 8.85 million houses and condos in California. Of those, 277,666 are assessed for more than a million dollars by county assessor offices, CoreLogic DataQuick reported. To view the ranking of cities by the number of million-dollar home sales, please visit DQNews.com.

San Diego’s 7 Most Anticipated Restaurant Openings of Fall 2015

Hot summer temperatures are still in full swing, but fall is right around the corner. To help get you in the mood for the change of season, check out this list of seven new restaurants slated to open within the next few months.

Fireside by The Patio

Historic Liberty Station gains another eatery in the form of a backyard party. Originally dubbed The Backyard, this new concept by The Patio Restaurant Group will feature custom wood-fired grills designed by local bath and kitchen designer Phil Roxworthy, plus smokers and pizza ovens in a space with indoor and outdoor seating. Executive chef John Medall’s menu takes full advantage of the outdoor cooking technique and will offer wood-fired favorites alongside salads, craft beer and cocktails.
Projected opening: September

2855 Perry Rd.

Duke’s La Jolla

The area's newest restaurant will honor Hawaiian native Duke Kahanamoku. Owned by San Diego– and Maui-based TS Restaurants, the spot will be helmed by executive chef Anthony Sinsay (pictured with general manager Shaughn Helliar), who is bringing the signature dishes of Hawaii — like lilikoi ceviche and 24-hour kalbi short rib — to SD. The 13,000-sq.-ft. restaurant boosts two dining levels with indoor and outdoor seating and views of the La Jolla Cove.
Projected opening: October

1216 Prospect St., La Jolla

Hammond’s Gourmet Ice Cream

The North Park shop is set to expand into Pacific Beach. The frozen confection shop, co-owned by Dan Szpak and the husband-and-wife team of Ryan and Trang Hammond, will be bringing regular scoops, mini-scoops and their ever-popular flights of Hawaiian-based Tropical Dreams ice cream with more than 32 flavors to choose from.
Projected opening: Early fall

1418 Garnet Ave.

The Crack Shack

Executive chef Richard Blais is hatching up a new restaurant adjacent to Juniper & Ivy that focuses on all things chicken and eggs. Housed in an abandoned construction and welding shop, the eatery will serve breakfast, lunch and dinner. Diners can look forward to locally sourced ingredients including free-range, non-GMO eggs and a custom bread program brought to you by Blais and chef de cuisine Jon Sloan.
Projected opening: Late fall

2228 Kettner Blvd.

Liberty Public Market

This ambitious project (rendering pictured at the top) — promising to rival the public markets around the country found in Seattle, NYC and Cleveland — signed on its first wave of vendors. Shops include Liberty Meat Shop, The WestBean Coffee Roast, Fully Loaded Juice, Venissimo Cheese, Pho Realz, Wicked Maine Lobster, Mastiff Sausage, Cane Patch Pies and Cecelia’s Taqueria, with capacity for 20 more shops. The project by Blue Bridge Hospitality is a $3 million mixed-use market renovating 22,000 sq. ft. of space in historic Liberty Station.
Projected opening: Late October

2816 Historic Decatur Rd.

TRUST Restaurant

Architect and developer Jonathan Segal’s under-construction building in Hillcrest, dubbed “Mr. Robinson,” is set to get its own restaurant with chef Brad Wise (Eat.Drink.Sleep.’s JRDN at Tower 23, Draft, Cannonball) and GM Steven Schwob (Eat.Drink.Sleep’s Draft, Cannonball) behind the project. Wise will be focusing on shareable plates using local ingredients, while Juan Sanchez — known for his work at Kettner Exchange and JRDN — will take charge of the cocktail program.
Projected opening: October/November

3752 Park Blvd.

The Herb Shop

Top Chef alum Brian Malarkey has been hinting at an unnamed project all year long and he's finally unveiled the name and concept. Located in Little Italy, this eatery will be centered around herbs with roasted veggies, meats and seafood filling out the menu. Planned is a dining room with an open-air atmosphere and lots of edible plants as decor. Attached will be a market selling packaged gourmet foods.
Projected opening: December 1

2201 Kettner Blvd.

New Homes on the Market!

3 Bedroom 2 Bath 2,168 SqFt. $1,399,000

3 Bedroom 2.1 Bathroom 2,369 SqFt. $1,348,000

4 Bedroom 2 Bath 1,971 SqFt. $660,000-$670,000