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Most recent articles

Higher-End Flippers

This comment was left at the cnbc site about high-end flipping – I’m seeing the same thing around San Diego:

Article is behind, this is already slowing down here in Orange County – a lot of the properties are starting to sit on the market for awhile.

Thanks to daytrip for sending this in:

Markets with the best return on flips in the second quarter included Pittsburgh (106 percent), New Orleans (76 percent), Baltimore (73 percent), Virginia Beach, Virginia, (66 percent) and Daytona Beach, Florida (63 percent). Metro areas with the highest dollar amount of average gross profit on home flips included San Jose, California, Washington, D.C., San Diego, Los Angeles and Seattle, all of which had an average gross profit of more than $100,000 per flip, according to RealtyTrac.

Posted by on Aug 22, 2014 in Flips | 2 comments

Pricing By Zip

Isn’t it amazing that prices have kept rising without frenzy help?

We’ve had the frenzy hangover this year. Inventory is still tight, sellers confident, and buyers don’t have much choice except to pay what it takes – or to stand by.  But sales are softer – and the number of NSDCC active listings today is 7% higher than last year.

Here are the two pricing measurements for each zip code for detached-home sales between May 1st and July 31st.  Every zip code between Carlsbad and La Jolla shows a positive year-over-year increase in BOTH pricing metrics!

Zip Code
Avg $/sf
Median SP
Cbad NW
Cbad SE
Cbad NE
Carlsbad SW
Carmel Vly
Del Mar
La Jolla
Solana Bch
All Above
% chg

I had to average the averages for the NSDCC $/sf, so they are probably high.

Rob Dawg said in his 2014 forecast that he thought we’d see all the annual gain happen in the first half of the year. It’s the post-frenzy soft landing!

Posted by on Aug 21, 2014 in Frenzy, North County Coastal, Why You Should List With Jim | 7 comments

July Sales & Prices

Thanks to the folks who sent in the Property Radar press release yesterday regarding the July sales in California.  They mentioned that median prices fell in 13 of the state’s largest 26 counties:

But they didn’t say which counties!

According to our MLS, the median price of July detached-home sales in San Diego County rose 8% year-over-year, from $480,000 to $517,750 – though sales declined 19%.

Both sales and the median price in SD County look like they are topping out:

# of Sales
Median SP
July 2013
Apr 2014
May 2014
Jun 2014
July 2014

Are you thinking of selling and are worried you missed the prime market? It could get more sluggish next year – sell when everyone else isn’t!

Posted by on Aug 21, 2014 in Jim's Take on the Market, Sales and Price Check | 2 comments

Investors Going Further Out

Housing recovery pushes investors into more remote areas to find deals, with more looking to flip properties, C.A.R. survey finds

LOS ANGELES (Aug. 20) – Given the depletion of distressed homes on the market, investors are changing their strategy and are moving away from purchasing homes in more popular, urban areas in favor of more rural areas of the state where better deals can be found, according to a CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) investor survey.

In 2014, nearly half (45 percent) of investors said they purchased properties in such counties as Sacramento, San Joaquin, Fresno, Kern, Merced, and Tulare, up from 27 percent in 2013, C.A.R.’s “2014 Investor Survey” found.  Fifteen percent of investors purchased properties in Northern California in 2014, down from 27 percent in 2013, and 40 percent purchased properties in Southern California in 2014, down from 50 percent last year.

Additionally, with home prices on the rise, more investors are flipping properties instead of renting them.  In 2014, 28 percent of investors flipped the property, up from 20 percent last year. Fifty-eight percent of investors rented their properties in 2014, down from 73 percent in 2013.

More than eight out of 10 investors (83 percent) own other investment properties, with 7 percent owning more than 10 properties, 17 percent owning 6-10 properties, 47 percent owning 2-5 properties, and 12 percent owning one other property.

Among the reasons investors cited for buying now include profit potential (cited by 58 percent), good price (43 percent), location (26 percent), personal (21 percent), and low interest rates (14 percent).

The median sales price of an investment property in 2014 was $320,000, up 9.6 percent from $292,000 in 2013, reflecting increasing home prices and fewer available distressed properties over the past year.

Additional findings from C.A.R.’s “2014 Investor Survey” include:

• Reflecting the recovering housing market, the majority of investment properties purchased (70 percent) were equity sales, while 18 percent were short sales, and 12 percent were foreclosures. • More than two-thirds (67 percent) of investors paid cash • One-third of investors were foreign investors, with China, Mexico, Taiwan, and India being the top countries of origin. • While most investors made minor or no repairs to the properties, the percentage of those who did major remodeling nearly doubled from 9 percent in 2013 to 17 percent this year. • Investors spent more on remodeling costs in 2014, putting a median of $15,000 into the investment property, up 50 percent from $10,000 in 2013. • Investors own an average of 8.3 properties in 2014, up from 6.5 properties last year. • More than half of investors (55 percent) intend to keep the property less than six years.

California Investor Survey Slides (click links to open):

More investors are buying in remote areasMedian price of investment propertiesTwo-thirds of investors paid cashIntended use of property Top five reasons for buying

C.A.R.’s “2014 California Investor Survey” was conducted in May 2014 in an effort to learn more about the role of investors in the California housing market.  The survey was emailed to a random sample of REALTORS® throughout California who had worked with investors within the 12 months prior to May 2014.

For complete survey results, visit

Leading the way…® in California real estate for more than 100 years, the CALIFORNIA ASSOCIATION OF REALTORS® ( is one of the largest state trade organizations in the United States with 165,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.

Posted by on Aug 20, 2014 in Real Estate Investing | 2 comments

Agent-Matching With A Twist


This is what happens when our industry leaders are asleep at the wheel - others keep jumping in to get their piece of the action.  These guys seem like just another agent-rating website, but they are a real estate brokerage too – and will co-list the property with the agent you select:

An excerpt:

Launched in May 2013, Agent Ace uses patented technology to analyze a user’s location, home type and price range based on based home sales data to recommend the “single best agent for your needs — based on facts,” according to its website.

After a consumer asks to work with a recommended agent, Agent Ace offers the consumer’s business to the agent – usually by proposing to co-list or co-represent with the agent, but also sometimes through a referral agreement — in exchange for a slice of the agent’s commission if the match results in a sale.

The service doesn’t reveal the identity of an agent to a consumer until an agent has given express written permission for it to do so, Fawaz told Inman News.

The startup uses its status as a broker to acquire listings data and agent performance statistics from multiple listing services. It is licensed as a real estate brokerage in 43 states, has done several hundred transactions in the last few months, and has joined 140 MLSs, with that number “increasing every week,” Fawaz said.

Read full article here:

Posted by on Aug 20, 2014 in The Future | 4 comments