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SAN DIEGO (KGTV) -- The market may soon be looking up for San Diegans hoping to buy a home. A new report by Zillow found that many economists believe the housing market in the West will turn into a buyer’s market by 2020.According to the housing site, home-values have appreciated faster in 2018 than in 2017. That coupled with a fall in inventory means that sellers are in the driver’s seat.At least for now. Zillow says recent data suggest the balance may be starting to tilt back toward buyers. Home growth is slowing in more than half the nation’s 35 largest metros and price cuts are common.Even in San Diego, where the cost of living is well above average, 20 percent of listings saw a price cut in June.A separate report from Zillow found that the increase in home values has also slowed throughout San Diego.Three out of four economists surveyed say the national housing marked could see a shift to a buyer’s market by 2020.Those same economists say the Midwest will be the first to see the shift, beginning as early as 2019, followed by the Northeast, South and West in 2020.“For the past several years, home sellers held all the cards at the negotiating table, fielding multiple offers while buyers faced stiff competition and a fast-moving market,” said Zillow Senior Economist Aaron Terrazas.Over the next year, Zillow expects the rate of appreciation to slow to 4.7 percent in San Diego, where the median home price is 4,100.“Conditions are starting to show signs of easing up, but the effects of years of limited construction still linger. Inventory is still falling on an annual basis, and home values are growing well above their historic pace. Although these trends are starting to lose their edge, it is far too soon to call it a buyers market,” Terrazas said. 1789
SAN DIEGO (KGTV) -- Summer means it’s time to enjoy all the outdoor activities San Diego County has to offer. Drive-in theatres are a great way to get outside while enjoying a movie. San Diego County has several outdoor theatres, whether you’re searching for a great date night idea or taking the kids to a movie in a unique location. Check out the information below for more:South Bay Drive-In TheatreOpening in 1958, the South Bay theatre has been a family destination for decades. Since its opening, the venue has gone through several renovations, including upgrades to its projection systems. The theatre is now open year-round, seven days a week. Click here for a list of movies playing this week. Adult tickets: Kids 5-9: Santee Drive-In TheatreGrab some popcorn and head over to Santee. The Santee Drive-In Theatre is also open seven day a week, 365 days a year. The venue accepts cash only except at the snack bar, where credit cards are accepted. Click here for more information and showtimes. Adult tickets: Kids 5-12 with parent: 1058
SAN DIEGO (KGTV) - Supporters of labor unions rallied across the country on Saturday ahead of a Supreme Court case that could effect how unions collect agency fees. One was held in downtown San Diego outside the California Democratic Convention, where hundreds of union supporters gathered for the “Working People’s Day of Action” event. Demonstrators were supporting the union AFSCME, which is engaged in a court battle that has made its way to the Supreme Court. In Janus v. AFSCME, the Supreme Court will decide whether it is legal for unions, which often donate to political causes, to compel members to agency fees. Those fees are collected by unions from employees who have opted not to join the union but still benefit from collective bargaining. The plaintiff, Mark Janus, has argued it violates his first amendment rights to pay fees to an organization that he disagrees with politically. A ruling in his favor could have wide-reaching effects on public sector labor unions around the country, argues famed labor organizer, Dolores Huerta. “That is going to be very devastating to our unions here in California,” said Huerta, if the court sides with Janus. 1213
SAN DIEGO (KGTV) — Ten years ago this week, the stock market hit bottom. The country was in a crisis and the glory days of flipping houses in San Diego were a thing of the past. There are still people fixing and flipping houses, but if you want to make it in San Diego, you have to be a smart and savvy investor.“I continued the large pieces of tile all the way over, and I used as much glass as I could to open it up,” says Elijah Zuniga showing off the remodel of his master bathroom.Zuniga is not your average "flipper."“I’m just like the TV shows, except I don’t have a sidekick,” Zuniga says with a laugh.RELATED: San Diego among top hot housing markets for 2019, Zillow reportsA retired police officer and now a consultant, Zuniga buys about four homes a year. Not to live in, but rather as investments. He calls it his passion. And, he has a vision. Zuniga can walk into any home and see its potential. “You have to imagine the finished product in order to work through it,” adds Zuniga.Take the home he purchased in late November for example. It’s a 1974 single family home in San Carlos. The before and after photos are striking. Same with the bathrooms. Zuniga says the key is never cutting corners in the remodel. If you want to flip instead of flop, the investor must impress the buyer. RELATED: Making It In San Diego: How housing got so expensive“You’ve got to fix it to the ‘nines’ in order to get people to say, ‘I want this over everything else,’” says Zuniga.He’s also built a trusted group of contractors who get in, get the job done, and get out. And if you’re going to flip, that’s the other key. The house must move quickly. “We’re in the market of the moment, and we priced to sell,” says Lisa Becker. RELATED: Making it in San Diego: Realtors expect busy spring for buyers and sellersBecker is a Realtor with Keller Williams. She’s also Zuniga’s agent and helps him find investment properties in San Diego. Together they only buy single-family homes in the mid-level range to reach a much larger pool of potential buyers. And, their method works. “So, this particular property, on the market less than a week, we had four offers,” says Becker.That’s right, four offers in less than a week. Flipping or not, time is of the essence for the seller. In November when Zuniga bought the house, Becker figured after renovations it could sell for 0,000. Fast forward to the end of February, with more homes on the market, suddenly the home is valued at 0,000. RELATED: Making It in San Diego: Best and worst places in San Diego County for home resale“The buyer of this home is going to get a gorgeous home ,000 less than they could have purchased at the end of last summer.”No investor likes to lose money, but Zuniga always prepares for a potential market shift. He and Becker agree if you’re going to flip, the smart investor makes his money by buying low and then will price the home according to the market to sell fast. 2957
SAN DIEGO (KGTV) - The former Navy sailor accused of killing four people by driving his truck off the Coronado Bridge and onto a crowd attended a motions hearing Friday.Richard Sepolio faces four counts of gross vehicular manslaughter and DUI. His defense team argued to throw out the DUI charge, as well as crucial evidence, including initial conversations between Sepolio and his arresting officers. The judge concluded that both issues would be allowed in the upcoming trial.The nephew of two of the victims wants answers. Jacob Contreras has flown from Chicago to San Diego a dozen times to follow the case in court.RELATED: Parents of driver in Coronado Bridge crash defend son"I'm here a lot. I'm trying to move here,” Contreras said. "My family hasn't celebrated Thanksgiving in two years. Life is just not the same. It's never going to be the same."Contreras is the nephew of Annamarie and Cruz Contreras of Chandler, Arizona, two of four people killed on October 15, 2016. Like the two other victims, Francine Jimenez and Andre Banks of Hacienda Heights, the couple was attending a fundraising event at Chicano Park when Sepolio’s truck suddenly plunged into a crowd, killing them.Sepolio's high-profile attorney Paul Pfingst argued Friday that his client was not read his Miranda rights while being transported to the hospital for his injuries and therefore, the conversations between Sepolio and responding officers should be inadmissible during trial.RELATED: Facebook Live video captures aftermath of bridge crashCHP Officer Juan Carlos Jimenez read from his notes about the initial conversation."I asked if he felt the effects of the alcohol,” Jimenez said. “He said ‘Yep.’”Officer Jimenez also recalled the moments when he gave Sepolio a Breathalyzer test. He believed Sepolio was attempting to fake the test by only pretending to breathe small amounts of air into the device. The test results showed Sepolio's blood alcohol level was 0.08 to 0.09%. RELATED: Social media: Truck flies off Coronado Bridge, lands on crowdThe defense also argued that responding officers never noted Sepolio had “slurred” speech, implying that he may not have been drunk when the accident occurred. Officer Jimenez remembered that Sepolio’s speech was indeed slurred and that he was complaining of back pain. But he admitted that instead of writing he had “slurred” speech, he noted that his speech was “slow.”Jacob Contreras said he was not buying the defense’s argument. "The slurred speech and slow speech, if you're intoxicated, you tend to do both,” Contreras said. “So my point of view is the defendant was intoxicated.”RELATED: Navy man charged with DUI in crash that killed fourNearly two years since the crash, Sepolio has recovered from his injuries. But two families are still left without answers, still seeking justice. 2876