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Two Open Houses Today

2015-03-28 17.38.53

Pernilla Lindberg, above

If you have any interest in golf, or just like a good walk in the park, stop by the final round today of Kia Classic at the Aviara Golf Club in Carlsbad.

It is a challenging course, yet all but seven of the finalists are under par – and the leader, Mirim Lee, is 16-under!

We will be having open house right by the main entrance to golf, so stop by!

Mallard golf map

The single-level house at 1341 Mallard has been rejuvenated with new paint and fresh landscaping, and the price is down to $1,495,000.  Open house is 12-3pm – stop by!



We’re also having open house 12-3pm at 6337 Greenhaven, which is the lowest-priced house for sale in Bressi Ranch at $291/sf.


Posted by on Mar 29, 2015 in Interesting Houses, North County Coastal, One-Story, Thinking of Buying? | 2 comments

Bidding-War Registration

At least somebody is doing something – hat tip to swm:

Stop me if this sounds familiar: You scour MLS for the semi that will rescue you from a life in a high-rise. Mortgage pre-approval in place, you bid well above asking, because you live in Toronto and that’s how it works. The selling agent comes back and says there’s another stronger bid, and couldn’t you do a bit more? You swallow hard and cough up another $10,000, sealing the deal, and only later wondering if there really was a competing offer in the first place.

It’s tough to know how often this happens, but with interest rates still rock-bottom and bidding wars turning post-war bungalows into million-dollar properties, the Ontario government is bringing in new rules to crack down on unethical real estate agents that try to pump up housing prices with “phantom” offers.

Read More

Posted by on Mar 26, 2015 in Bidding Wars, Jim's Take on the Market | 4 comments

Market Check

The month of March is wrapping up next week, and we’re heading into the Easter/Spring Break period.  Local buyers who might take some time off will be offset by the out-of-towners coming in for a look.

The market seems very balanced currently, and our ‘market health’ gauge is supportive.

Historically, we’ve called it a healthy market when Active Listings-to-Pendings have been at a 2:1 ratio, and here’s the count today in North SD County’s coastal region:

Actives: 781

Pendings: 440

Ratio = 1:78:1

It’s the lower end of the market that is really hot.  Of the 440 pendings, 71% of them are listed under $1,500,000.

Only 37% of the actives are priced under $1,500,000!

While there has been a steady flow of new pendings, I haven’t seen many that were a surprise.  I think buyers are being patient, and are hoping that there will be better offerings later – much like sellers are hoping there will be higher-payers later.

Mortgage rates are holding steady too, which means April could be the month that those buyers and sellers who are in tip-toe mode come closer together!

rate check

Posted by on Mar 26, 2015 in Actives/Pendings, Spring Kick | 0 comments

Flipper Crowdfunding


Remember last time? When you don’t have mortgage underwriters being strict with the money, you are entering bubble territory:

Chicago-based Ben Walhood used to sell brain surgery equipment; on the side, he flipped a few houses.

“When I had the W2 and a good income, getting a mortgage was relatively straightforward,” he said.

But when the flipping profits grew, Walhood, 33, decided to go into it full time. Without the sales job, though, he had no W2, and that’s when the money dried up.  “At that point it was essentially impossible to get funding from the big banks,” he said.

Walhood turned to San-Francisco-based RealtyShares, one of a growing breed of crowdfunding platforms. Essentially, it is an online marketplace for real estate investing, where individual investors can open a free account and access investments in properties across the country. They need a minimum of $5,000 to invest and must be accredited, which includes either an annual income exceeding $200,000 or a net worth of over $1 million.

Walhood would get his property purchases funded by this “crowd” of investors, who would lend him the money. As with a mortgage, he pays interest on the loan, and the investors get about a 9 percent return. Once each property is sold, the loan and the investors are paid off.

“This gap has been left by banks that now crowdfunding platforms, like RealtyShares, are able to fill,” said Nav Athwal, CEO of RealtyShares. “They are able to provide quicker, more efficient capital that helps meet the needs of these investors who are looking for speed of execution and the ability to be flexible with their terms as well as with the underwriting standards. Banks just aren’t meeting that need.”

Posted by on Mar 26, 2015 in Flips, Market Buzz | 2 comments

Zillow vs.

Have you seen or heard the ads?

I heard this 30-second ad on sports-talk radio and thought it was standard fare:

Then I saw this ad today on the C.A.R. website:

move ad

This claim is from the National Association of REALTORS®, Profile of Home Buyers & Sellers, Addendum Questions, 2014, so I guess they can say it’s legit.

But isn’t it too early for to be saying they are better than Zillow at anything? It could be a regional thing, but I never hear any consumers talking about using, so to me it all sounds far-fetched.

Meanwhile, Zillow is crushing it with their TV ads, and probably pulling ahead: needs to be producing better advertising than Zillow if they think they are going to catch up.

Posted by on Mar 24, 2015 in The Future | 4 comments

LPGA in Carlsbad


Check out the Kia Classic this week, and see Lydia Ko! The pro-am is tomorrow, and the tournament runs Thursday-Sunday.

The Kia Classic is next on the LPGA tournament schedule.  Anna Nordqvist will defend her 2014 championship on the Park Hyatt Aviara Golf Club in Carlsbad, California against an exceptionally strong field of challengers.

Designed by Arnold Palmer, the Aviara is ranked among the top 100 resort golf courses in the country by Golf Digest.  The par-72 7,007 yard coastal California track is a favorite among Tour players.  The course is a visual delight, overlooking the Batiquitos Lagoon nature preserve and sculpted around rolling hillsides and with plenty of bunker and water challenges the track will also provide tests of players’ course management and shot placement skills.

LKLydia Ko is starting her 8th week at the top of the Rolex Rankings in a record-breaking ascent that has left all of us — her competitors, commentators and golf fans alike — astonished and in awe of her athletic talent and mental poise.  The 17-year old is coming into the Kia Classic with two 2015 victories to her credit.  There’s no doubt in my mind that there will be more before the season ends next November.

The Kia Classic is the final Tour event before the season’s first Major, the ANA Inspiration, and will be a dress rehearsal for a fierce battle that’s certain to unfold in the desert.  Ko will play her steady game of precision and control as will 2nd ranked Inbee Park.

Posted by on Mar 24, 2015 in Local Flavor | 0 comments

Spring Kick Initial Report

It’s remarkable how strong the data is for homes sold around North San Diego’s coastal region.  Most impressive is the number of sales in spite of higher pricing – there isn’t much drop-off!

These are houses sold between February 1 – March 15

# of Sales
Median SP
Avg. $/sf

Yesterday, the guy on CNBC who has predicted the last couple of bond-market moves said that he expects the 10-year yields will be down to 1.50% in the next few months, which should push mortgage rates under 3.50%. Waahoo!


Posted by on Mar 24, 2015 in Jim's Take on the Market, Sales and Price Check, Spring Kick | 0 comments