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Housing Initiative to Address San Diego’s Ongoing Police Shortage Crisis

The San Diego City Council is planning a new housing incentives program for police officers to help increase San Diego’s understaffed police force. Introduced by City Council President Pro Tem Barbara Bry and Council Member Chris Cate, the proposal would offer up to $50,000 dollars to assist police officers who want to move into reasonably priced homes within city limits.

The money provided to police officers in this initiative will likely be in the form of down payment assistance and will be funded by $5 million dollars in private donations. Council members are considering including a contract stating that the officer will stay in the home and on the police force for several years. Legislators hope that this will increase police officer retention.

San Diego has been facing a shortage of police officers for several years. While the city’s budget allows for a goal of 2,040 police officer salaries, there are only 1,787 police officers on the force at the time of this article. This number is down from last year’s 1,820 police officers and is expected to continue in that direction unless measures are taken.

The cause of San Diego’s police ...

Don’t Be a Victim! Wire Fraud and Other Cyber Security Risks



As technology advances, more and more transactions such as down payments, earnest money deposits, and mortgage payments are completed electronically. While this is a quicker and easier way to send payments than a check, many criminals have used this as an opportunity to commit fraud or steal money. There are important steps to take which will help make sure you do not experience the nightmare of cyber-crime.

As a rule of thumb, we at RWM Home Loans recommend getting a verbal verification from your escrow company whenever you receive a wire transfer request and to never click on any attachments or links provided within the email. When you call your escrow company, do not use any phone numbers provided in the email or attachment in question. Instead, reference the phone number on any escrow documents that you might have or use a phone number that you know has worked in the past. Once you receive verbal confirmation that your wire transfer request is from a valid source with valid transfer details, complete the transfer, then notify the escrow company so that they can be on the lookout for it.

The most common instance of wire fraud is done through phishing, which is when a criminal impersonates a client, employee, or business to submit phony ...

January in Review

Feb 6
Category | General

January in Review



The top San Diego economy news stories, real estate statistics, bond rates, stock indices, and more for the month of January.


  • San Diego County receives over $20 million dollars from the US Department of Housing and Urban Development to combat homelessness.
  • San Diego County approved the construction of several hotels over the past month
  • The median sales price of all San Diego homes was $548,000 dollars. This is up 8.51% higher than January 2017 but is down 0.36% from December 2017.
  • There were 2,641 home sales last month, which is down 3.08% from December and 9.31% lower than January 2017.
  • The median number of days on market was 27 days. This is down 18.18% from last January and 12.5% higher than December.
  • 22.9% of the homes sold in January were sold for higher than their listing price, which is down 4.98% from December, but is 21.81% higher than ...

How to Retire With No Mortgage Payment


Retirement is a time for relaxation after a lifetime of dedicated work and responsibility, so it’s no wonder that so many people try to clear up their mortgage before they retire. So what are the best ways to retire without a mortgage payment?

First you have to determine if it is more appropriate for you to keep or pay off your mortgage. While most people will gravitate towards the peace of mind, savings on interest, and increased cash flow that comes when they are no longer required to make mortgage payments, some can actually benefit from keeping their mortgage during retirement. This is usually due to prioritization.

If you have a limited amount of cash saved up for emergencies (or worse: none at all), it can be more beneficial to build up those savings than to pay off your mortgage early. Ideally, these savings will be enough to cover any living expenses for three to six months in the event of an emergency affecting your retirement income. Additionally, if you have not contributed the maximum amount to your retirement plan (401K, IRA, health savings account, etc.), putting money towards your retirement plan may outweigh the interest that you would be saving on if ...

San Marcos City Council approves six-story hotel


In a 4-1 vote, the San Marcos City Council approved the construction of a six-story hotel near the Nordahl exit on State Route 78. While buildings of this height are rare for San Marcos, the development on Montiel Road and Leora Lane is the second six-story structure recently approved by the City Council.

The project is planned to be an upscale hotel similar to the Marriott Courtyard, with 128 rooms, a café, a fitness room, a pool, and underground parking. With the rooms costing around $159 to $179 dollars a night, the hotel is expected to bring in $400,000 dollars in hotel taxes to the city. This is also expected to rise over time.

A traffic study of the proposed development estimates that the hotel will bring in around 900 daily trips to the area. This includes around 75 additional drivers in both the morning and evening rush hour times. Some residents are expecting this increase in drivers to negatively affect traffic.

Some residents are also hesitant to support the project due to the glare from a building of this size. However, the Carte group is willing to work with the city when constructing the building to minimize this effect through design and material selection.

The council ...

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