Does your client earn enough to buy?

The Pacific Southwest Association of Realtors ( PSA R) repor ts that in order for a San Diego household to af ford to purchase the $729,000 median-priced, existing single-family home, based on 2020 third quar ter housing af fordabilit y statistics, a minimum qualif ying annual income of $133,600 would be needed to make monthly payments of $3,340.

Citing housing af fordabilit y statistics from the California Association of Realtors (CA R), PSA R said the monthly payment, including taxes and insurance on a 30-year, fixed-rate loan, assumes a 20 percent down payment and an ef fective composite mor tgage interest rate of 3.15 percent. Statewide, in order to af ford the $693,680 median price for an existing, single-family home in 2020 third quar ter, it would require an annual minimum salar y of $127,200 to make the monthly payments of $3,180.

Ethics training for realtors

The Pacific Southwest Association of Realtors ( PS A R) will host a free live webinar on the National Association of

Realtors’ ( N A R) Code of Ethics training from 9:30 a.m. to noon, Friday, Dec. 11 over the Zoom online meeting plat form.

New realtors must complete ethics training soon af ter acquiring their sales license, according to learning objectives and criteria established by N A R. All realtors are required to complete ethics training ever y three years. Ethics training also can count as continuing education credits. The training is free. The training also is available on the N A R website.

For more information, call PSA R at (619) 421-7811, or visit w w w.psar.org.