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Author Archive

Romney On the Move

romney1

From the Globe:

https://www.bostonglobe.com/news/politics/2015/01/27/mitt-romney-began-building-expensive-homes-after-his-loss-part-real-estate-makeover/CeKp2sd0JcWA6URLhmJzxM/story.html

Romney, whose last presidential bid was hampered by his image of excessive privilege and insensitivity, may recognize the trouble his real estate holdings could cause in another campaign.

He is taking steps to shed some of his property, including retaining a broker who is currently showing the La Jolla home to potential buyers, according to a Romney aide. The aide would not disclose the asking price or explain why the former Massachusetts governor and his wife, Ann, want to sell the home after more than four years of city permitting, hearings, and construction.

https://www.bostonglobe.com/news/politics/2015/01/27/mitt-romney-began-building-expensive-homes-after-his-loss-part-real-estate-makeover/CeKp2sd0JcWA6URLhmJzxM/story.html

Posted by on Jan 28, 2015 in Interesting Houses, Local Flavor | 6 comments

Bounce Back

solana beach

You’ve heard me say that I think it is my job to conduct a proper bidding war between all buyers and push for top dollar – and I will give them ample opportunity to pay it!  In this case, it was 10% over list price.

But the houses that need work are more prone to falling out of escrow once the scope of the project starts to sink in.  It is part of the business, and you have to be able to bounce back quickly to maintain momentum.

Posted by on Jan 27, 2015 in Auctions, Bidding Wars, Bubbleinfo TV, Jim's Take on the Market, Thinking of Selling?, Why You Should List With Jim | 5 comments

SD Case-Shiller Index, Nov. 2014

case shiller november 14

The local Case-Shiller index ended its three-month skid in November, rising 0.29% above October’s mark.  It will probably bounce around a bit from now on.

The San Diego Case-Shiller Index is 24% higher than it was in Nov. 2012.

Minor movements would seem to be much preferred to the violent ups and downs of previous years, but David Blitzer isn’t happy enough.  Either that, or he is struggling with his hyperboles:

http://www.cnbc.com/id/102371913

The S&P/Case Shiller composite index of 20 metropolitan areas gained 4.3 percent in November from the prior year, the slowest since October 2007 although it matched analyst expectations. This compared with a 4.5 percent annual increase in October.

“With the spring home buying season, and spring training, still a month or two away, the housing recovery is barely on first base,” said David Blitzer, chairman of the index committee at S&P Dow Jones Indices, said in a statement.

“Prospects for a home run in 2015 aren’t good,” he added.

Posted by on Jan 27, 2015 in Same-House Sales | 0 comments

Inventory Watch – Casa Del Sol

Want to see more inventory? Just go up in price! Of the NSDCC houses for sale, 81% are listed at $1,000,000 or higher, and 48% are over $2,000,000!

The stats will be slightly skewed due to this property coming up for auction. They priced it on the range $10,000 – $36,500,000 so it affects all categories, and the MLS doesn’t allow for a property to be removed prior to running stats:

http://www.sdlookup.com/MLS-150002719-15651_Puerta_Del_Sol_Rancho_Santa_Fe_CA_92067.

Here is the video tour of it:


Casa Del Sol — from Concierge Auctions

Click on the link below for the complete NSDCC active-inventory data:

Read More

Posted by on Jan 26, 2015 in Interesting Houses, Inventory, Jim's Take on the Market | 4 comments

CV Market Leader

In Carmel Valley, the P-team is cranking up the new-home production in 2015, with several new homes in all price ranges coming to market.

Sellers of older existing homes can use these as a guide for pricing – because you know the buyers will:

Posted by on Jan 25, 2015 in Builders, Carmel Valley | 3 comments

Flybys

Hat tip to Mr. T!

We all remember Tom Cruise in the Movie “TOP GUN” when he makes a low pass near the control tower and causes an officer to spill coffee down his shirt. Well, here are short clips of the top 10 low pass flybys ever filmed … and of course for nostalgia, let’s see that Top Gun low pass again.

Pay particular attention to the last shown low pass. It is number one. Watch the halo of water around the plane.  It happened during a Blue Angels event over San Francisco several years ago. It was the pilot’s last show with the team and he had nothing to lose.  Many of the boats in the bay lost windows to the sonic blast. It’s a kick to watch. Number 3 was pretty impressive too.

Posted by on Jan 24, 2015 in Military | 3 comments

Multiple Offers Down

2015-01-19 12.35.48

We have demand – the pending-home index is rising! From C.A.R.:

http://www.car.org/newsstand/newsreleases/2015releases/dec2014pending

Pending home sales posted higher on a year-over-year basis for the first time since January 2013 and as expected, declined from the previous month due primarily to a seasonal slowdown toward the end of the year, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today.

Additionally, with the specter of a better economy, greater job growth, and increasing household formation, C.A.R.’s new Market Pulse Survey found that many REALTORS® expect market conditions to improve in 2015, as does C.A.R.

• In the fourth quarter of 2014, the vast majority (87 percent) of REALTORS® expected market conditions to either improve or stay the same over the next year.

• More REALTORS® (61 percent) closed a transaction in the fourth quarter of 2014, compared to the first quarter (53 percent).

• In an indication of stabilizing home prices, fewer homes (24 percent) sold above asking price in the fourth quarter of 2014, compared to 46 percent in the first quarter.

• Homes selling below asking price rose from 19 percent in the first quarter of 2014 to 48 percent in the fourth quarter, indicating home sellers’ expectations moved more in line with buyers’ expectations toward the end of the year and competition between sellers attempting to appeal to affordability-strapped home buyers increased.

• More than half (58 percent) of properties received multiple offers in the fourth quarter of 2014, down from 69 percent in the first quarter.

Posted by on Jan 24, 2015 in Jim's Take on the Market, Market Conditions | 6 comments

Cohousing

coho

While we’re considering other options like shipping containers for homes, aren’t the flower children from the 1960s still interested in communes? Indeed – there are 130 cohousing communities in the country! Hat tip to daytrip.

http://www.citylab.com/housing/2015/01/can-boomers-make-cohousing-mainstream/384624/

That communal spirit extends beyond the utility bill. Alexander says daily life among her “true neighbors” is a stark contrast with the suburban subdivisions of her native northern Virginia, where she lived in single-family homes for decades before discovering cohousing.

“I did what everybody did. I was in commuter hell, I didn’t know my neighbors, all that. There wasn’t a choice, or we didn’t know another choice existed,” Alexander says. “Baby boomers are demanding a better way to live. We want to be sustainable; we want community, happiness.”

Joani Blank, 77, lives in Swan’s Market Cohousing in downtown Oakland, California. She has spent 22 years across three cohos and has visited dozens more. Blank says senior citizens struggle with the public perception that cohos are like other senior housing or retirement homes.

“I like living with younger adults. I want to live in a diverse community. That’s the way humans used to live—in multigenerational groups,” says Blank, who founded San Francisco’s Good Vibrations sex shop in 1977.

http://www.citylab.com/housing/2015/01/can-boomers-make-cohousing-mainstream/384624/

Posted by on Jan 24, 2015 in Interesting Houses | 0 comments

Affordable Housing Option

containers

Hat tip to daytrip!

http://www.trueactivist.com/a-shipping-container-costs-about-2000-what-these-15-people-did-with-that-is-beyond-epic

All you need is around $2000 to begin building one of these epic homes – made from recycled shipping containers!

A luxury home doesn’t always necessarily mean thousands of square footage, towering great rooms and gilded toilets. Take these homes for example: to begin building one of these epic houses, all you need is $2,000. That $2,000 will buy you a shipping container. What you do with that shipping container… well, that’s completely up to you. Some creative people have found a way to transform this rudimentary “room” with metal siding into luxury housing that blows us away. These homes are epic.

http://www.trueactivist.com/a-shipping-container-costs-about-2000-what-these-15-people-did-with-that-is-beyond-epic

Posted by on Jan 23, 2015 in Interesting Houses | 2 comments