Up on the hill in one of my favorite parts of La Costa. But they are hoping for a buyer so desperate for a single-level that they will pay full retail for a virtually all-original house:
Category Archive: ‘Bubbleinfo TV’
We are approaching the previous-peak pricing in most areas, and you know it’s hopping when standard tract houses in Carlsbad with few upgrades are listing for $1,000,000.
This house sold new for $1,004,500 in 2005, and for $1,180,000 in 2007 and that sale was 95% financed:
Another landlord who figures it might be a good time to hit the jackpot while in between tenants:
This is one of the few places where you can find newer, larger one-story homes on good-sized lots. No wonder it blew of the market in the first few days, and over list price!
A tour of the most-recent listing of a CV canyon-front home, in DH. I saw the house on Raven Hill that sold for $1.9 million, and I liked this backyard better:
It will be difficult to determine the frenzy velocity because you will keep seeing eye-popping sales that make you think that the market is still on fire.
This is where evaluating the features of each house will come in handy. The high-value targets – great locations, big ocean views, one-story, etc. – will be the ones that still fetch crazy prices. Why? Because frenzied-up buyers care less about price when they fall in love.
For example – the highest sale this year in this neighborhood was $795,000, and Richard closed one in March for $560,000.
But they asked $919,900 for this – and it went pending after 23 DOM:
You have to gauge whether each property deserves frenzy pricing, or is just hoping to get caught up in the excitement - get good help!
Banks are constantly tweaking their foreclosure package, thinking it will provide more benefits. In the confidential remarks:
This property is under Auction Terms. All bids are to be submitted through auction.com. This property is subject to a 5% buyer’s premium.
Here is the link:
It has a reserve price, the buyer pays the 5% premium on top of the sales price, the on-line bidding doesn’t start until May 30th, and the opening bid is $450,000.
The list price is $939,750 in the MLS:
This was marked pending after three days on market: