Menu
TwitterRssFacebook
More Links

Are you looking for an experienced agent to help you buy or sell a home? Contact Jim the Realtor!

Carlsbad
(760) 434-5000

Carmel Valley
(858) 560-7700
jim@jimklinge.com


Category Archive: ‘Inventory’

Seller Contingency

2016-02-08 10.24.49

Are you thinking of moving, but want to sell your house first, and use the proceeds to buy the next one?  It is the preferred path.

Most every homeowner has substantial equity now – transferring it to the new home is best accomplished by selling and buying concurrently.

But when potential sellers casually look around at the standing (unsold) inventory, they don’t see anything worth the bother.  If a good listing does pop up, the listing agent doesn’t want to consider your offer that is contingent upon selling your home that isn’t on the market yet.

If it is easier selling than buying, how can we pull off both?

  1.  Trust that there will be new and better choices coming to market.
  2.  List your home with me, subject to finding a suitable replacement.
  3.  I’ll find a buyer for your home who is willing to wait 30-60 days.
  4.  Be as flexible as possible on the criteria of the next home.

We have a form just for sellers in this predicament, and if you can’t find a suitable house to buy, you are under no obligation to sell.

Recently, I have done a couple of these successfully.  With the tight inventory, buyers are being more flexible about timing.  They are already starting their search well before their lease is up, and a slightly-longer process (1-2 months) can suit their situation too.

  • It helps to see houses in person.  Let’s take a tour of the latest listings that might suit your needs, just to get a good feel of what to expect for the money.  The personal tour will help get you familiar with the process too.
  • It helps to have your house ready to sell.  Have me over for a consultation of what tuneups you might needs to maximize your selling price.
  • It helps to have an agent who represents buyers and sellers.  If you have different people on each end, the comfort level isn’t the same – and you don’t get a package deal on the commission.

Here is the verbiage from our form – you are protected!

seller contingency

Contact me today to discuss it further – now is the time!

Get Good Help!

Posted by on Feb 9, 2016 in Inventory, Jim's Take on the Market, Listing Agent Practices, Why You Should List With Jim | 0 comments

Inventory Watch

von

The Super Bowl is over, and the spring selling season is here – let’s move!

How does the inventory compare to last year?  Here are the active listings and cost-per-sf from the day after the 2015 Super Bowl, and today:

Price Range
2015 # of Actives
Avg LP $/sf
2016 # of Actives
Avg LP $/sf
0-$800,000
87
$400/sf
49
$376/sf
$800K-$1.4M
202
$449/sf
184
$416/sf
$1.4M-$2.4M
182
$615/sf
234
$590/sf
$2.4M+
291
$1,037/sf
361
$1,012/sf

A steady push upward as sellers migrate north – there are 19% fewer homes for sale under $1,400,000 this year, and 26% more homes for sale above!

But the average list prices are all lower!

Get Good Help!

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

Read More

Posted by on Feb 8, 2016 in Inventory, Jim's Take on the Market, Spring Kick | 2 comments

Inventory Watch

scramble is on

For the first three weeks of 2016, the new-listings count is 9% higher than last year (301 vs. 276).  The median list price is running 12% higher also, which means for buyers there is good news, and bad news – you have more inventory to consider, but it’s going to cost you.

Of the 301 new listings, only 80 of them were priced under $1,000,000 (27%), and twenty of those have already gone pending, or 25%.  Of those listed above $1,000,000, eleven percent have gone pending, which isn’t bad!

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

Read More

Posted by on Jan 25, 2016 in Inventory, Jim's Take on the Market | 0 comments

Inventory Watch

The number of NSDCC houses for sale priced under $800,000 is down to fifty (50), which is the lowest amount since we started counting just over two years ago.  There should be quite a scramble for the quality homes available, and the definition of quality is probably deteriorating by the minute!

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

Read More

Posted by on Jan 18, 2016 in Inventory, Jim's Take on the Market, North County Coastal | 0 comments

Inventory Watch

Buyers are just as optimistic as sellers about the new year. The ‘picky’ factor is hiked up a notch, with buyers figuring it’s early in the season, and hopefully this will be the year that the inventory busts loose.

At an open house yesterday, the agent on duty (not the listing agent) was telling people that there were four offers on the property. In early January, that doesn’t make attendees want to get in the fight – instead, they are more likely to just move on, and hope for a better deal later.

The listing agent confirmed later that there were no offers in hand, so if the 4-count was a deliberate strategy, it backfired.

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

Read More

Posted by on Jan 11, 2016 in Inventory, Jim's Take on the Market | 0 comments

Inventory Watch

refresh

Welcome to Refresh Week, the time when listing agents re-input onto the MLS their tired old listings from last year to give them a new look. There have been 30 new listings between La Jolla and Carlsbad so far, and 21 were previously on the market last month (70%).

Is it against the rules? Who knows any more. It used to be that at least you had to change the listing agent’s name to a spouse or assistant, but that’s gone by the wayside.

It’s just one of those realtor deceptions that are accepted in the business. If you are buying, check the listing history of every house!

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

Read More

Posted by on Jan 4, 2016 in Inventory, Jim's Take on the Market | 0 comments

Growing Inventory in 2016?

The year 2015 wraps up tomorrow!

We saw last week that the annual count of NSDCC detached-home sales already exceeds the 2014 total.  By the time the sales from this week are recorded (and the late-reporters chime in) the 2015 sales will be about 5% higher than last year’s count – in spite of higher pricing!

Higher prices = more sales??

More sales = higher prices??

The additional action was made possible by more homes coming to market.

New-Listings Count – Annual, 2nd Half, and 4th Qtr:

Year
Annual # of Listings
# of Listings, 2H
# of Listings, 4Q
2011
5,223
2,117
915
2012
4,416
1,871
761
2013
4,817
2,027
726
2014
4,691
1,979
761
2015
4,878
2,114
817
Incr over 2014
+4.0%
+6.8%
+7.4%

All signs are pointing to the inventory increasing next year – will a larger selection of homes for sale inspire more buyers to buy?

If so, it means more sales – and a faster rate of appreciation if each sale is slightly higher than the last.

Or will a surge of over-priced listings cause the market to stagnate?  If there are more OPTs stacking up, it makes it more obvious to buyers that the prices are wrong.

I think 2016 will be the most interesting yet – especially if we get mortgage rates bumping up faster than expected!

Posted by on Dec 30, 2015 in Inventory, Jim's Take on the Market, Market Conditions, North County Coastal | 0 comments

Inventory Watch

christmas is over

A very typical Christmas week around the NSDCC region, where the median list price today is a whopping $2,195,000!

We have the glutty higher-end where the average market time is 144 days (and still unsold), and a lower-end that is cleaned out!  The 59 active listings under $800,000 is the lowest count since we started keeping score.

The Christmas Week symmetry:

Year
New Listings
New Pendings
2013
14
23
2014
15
25
2015
15
25

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

Read More

Posted by on Dec 28, 2015 in Inventory, Jim's Take on the Market, North County Coastal | 0 comments

Inventory Watch

decrates

We survived the Fed hike.

Last Monday, the 30Y rate was 3.98%.  The Fed made it official on Wednesday, and the 30Y rate initially jumped about 20 basis points.  But by Friday afternoon we were back down to 4.02%.

This guy thinks the Fed move was a mistake:

http://www.mortgagenewsdaily.com/video/archive/2015/12/21.aspx#544910

The local NSDCC new listings keep coming; 51 in the last seven days which is about the same as in 2013.  With Christmas being so close, you might think that the bulk of those are just listings being ‘refreshed’.

But only 11 of the 51 had expired or cancelled within the last 30 days, and then relisted by the same agent over the last week.

We’ll see a boatload of ‘refreshings’ during the first week of 2016 – watch out.

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

Read More

Posted by on Dec 21, 2015 in Interest Rates/Loan Limits, Inventory, Jim's Take on the Market, Listing Agent Practices | 0 comments