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Most recent articles

First Third of 2016 By Town

updown

We saw how the La Jolla-to-Carlsbad region had experienced more listings between January and April, but fewer sales for the first time since 2006:

LINK

Let’s break it down by area to see the hotspots.

New Listings and Sales Between January and April

(NL = New Listings)

Area
Zip Code
2015 NL
2016 NL
Chg
2015 Sales
2016 Sales
Chg
Cardiff
92007
43
52
+21%
26
24
-16%
Carlsbad NW
92008
105
97
-8%
53
53
0
Carlsbad SE
92009
288
267
-7%
153
128
-20%
Carlsbad NE
92010
66
62
-6%
42
50
+19%
Carlsbad SW
92011
116
143
+23%
63
78
+24%
Del Mar
92014
93
123
+32%
50
54
+8%
Encinitas
92024
240
263
+10%
152
124
-18%
La Jolla
92037
268
283
+6%
123
104
-15%
RSF
92067
199
226
+14%
69
48
-16%
Solana Bch
92075
43
50
+16%
36
30
-17%
Carmel Vly
92130
260
291
+12%
128
154
+20%
All Above
All
1,721
1,857
+8%
895
847
-5%

The areas that have had double-digit increases in new listings, and also had double-digit decreases in year-over-year sales percentages, are struggling a bit (in bold).  Cardiff and Solana Beach have such small sample sizes that their changes aren’t alarming, so it’s Encinitas and Rancho Santa Fe that stand out.

Any with a big decrease in sales are next on the list (SE Carlsbad and La Jolla).

Posted by on May 13, 2016 in Jim's Take on the Market, North County Coastal, Sales and Price Check | 0 comments

Realtor vs. Robot

robot

Who do you think will implement robots first – NAR or Zillow?

http://www.bizjournals.com/denver/news/2016/05/11/computerized-robot-beats-human-real-estatebrokers.html

What will be more helpful to a home buyer when trying to select a house? A seasoned real estate broker or a computerized residential real estate robotic algorithm?

According to a recent test in Denver, the robot beat the humans in providing more homes preferred by the buyer.

The test was conducted by QValue, a Denver automated valuation model for the real estate industry created by Creed Smith and publicized in Inman News.

During the test last month, the recommendations of three Denver real estate professional brokers were compared with the homes recommended by the computerized algorithm. The recommendations were then ranked by the “buyer,” (who in this case was played by John Rebchook, formerly the real estate editor of the Rocky Mountain News who now runs the DenverRealEstateWatch.com site).

The robot beat the humans in the test, according to Smith.

“The algorithm’s recommendations consistently placed two homes within the top three buyer choices each day, and placed as the buyer’s number one favorite home every time all three days. This tells me the algorithm can indeed suggest homes based on emotionally triggering qualities buyers desire (qualitative criteria),” Smith said in a statement.

The test didn’t factor in other myriad other responsibilities offered by real estate brokers, such as drawing up real estate contracts and other duties.

Posted by on May 11, 2016 in Jim's Take on the Market, Realtor, Realtor Training | 1 comment

Lowest Rates in Three Years

lowestrate

As of (yesterday), you’d have to go back 3 full years to see rate sheets any lower, on average.

May 10th, 2013 was a very bumpy day for rates, and it capped a week that served as the starting point for the ‘taper tantrum’ (several months of rapidly increasing rates as markets adjusted to the idea that the Fed would be ending its bond buying program).

With a range of 3.5 to 3.625% (at no points), today’s top tier conventional 30yr fixed quotes are right in line with those seen on May 9, 2013.

http://www.mortgagenewsdaily.com/consumer_rates/610933.aspx

Posted by on May 11, 2016 in Interest Rates/Loan Limits, Jim's Take on the Market | 0 comments

Jim TV

Just one more rerun before Kayla introduces our new listing tomorrow night.

This is the 7th most-watched video on Bubbleinfo TV, and is a greatest-hits tour through the REO-listing days.  In April, 2008, the Bank of America had dumped twenty of their REOs in my lap, and over the next 12 months the JtR foreclosure extravaganza ensued.

A month after this video premiered here on the blog (March, 2009), I was on the front page of the L.A. Times, which led to the spot on ABC News Nightline:

Posted by on May 10, 2016 in Bubbleinfo TV, Foreclosures, Foreclosures/REOs, Jim TV, Jim's Take on the Market, REOs, REOs for sale | 0 comments