More Links

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

(760) 434-5000

Carmel Valley
(858) 560-7700

Most recent articles

NSDCC 2-Month Sales

estates sunset 034

The stats from the first ten months of the year looked good.

How do the last couple of months compare to previous years?

Are we reaching the buyer-exhaustion stage, where the inventory is so picked over that sales are suffering?

September-October Detached-Home Sales, La Jolla to Carlsbad:

# of Sales
Median Sales Price

The buyers have been remarkably resilient, and if there were more higher-quality homes for sale at reasonable prices, I think sales would be even higher. When is a good time to sell? When everyone else isn’t!

Get Good Help!

Posted by on Nov 12, 2015 in Jim's Take on the Market, North County Coastal, Sales and Price Check | 0 comments

Veteran’s Day

The USS Carl Vinson returned to its home port of San Diego this summer after a lengthy deployment in the Gulf region.  Here is a great video with interviews of crew members – thank you for your service!

Carl Vinson returned to San Diego on 4 June 2015. Over the course of the deployment, supporting strike operations in Iraq and Syria, CVW-17 successfully flew 12,300 sorties, including 2,382 combat missions and dropped more than half a million pounds (230 tons) of ordnance against ISIS.

On 14 August 2015, Carl Vinson began a planned incremental availability (PIA) period at Naval Air Station North Island. The ship is receiving more than $300 million worth of improvements over the next six months during this modernisation.

Posted by on Nov 11, 2015 in Military | 0 comments

San Diego 2015 Home Pricing

SD price index

The San Diego lower-end market has been red hot this year!

No big surprise – when mortgage rates are in the 3s, houses priced under $500,000 have monthly payments that are similar to their rents.

But the high-end market is holding up well too, suggesting that buyers will find a way to pay more for the better-quality areas.  Last year got a little sluggish, but as rates dipped back into the 3s, the buyers kept coming:

 NSDCC Detached-Home Sales

# of Sales, Jan-Oct
Median Sales Price

Posted by on Nov 10, 2015 in Jim's Take on the Market, North County Coastal, Sales and Price Check | 0 comments

Mortgage Rates Higher


Interest rates have been moving higher for the last six days, and have priced in the 1/4% increase that the Fed is expected to do next month.  If the Fed does finally bump the Fed Funds rate, there should be some relief that’s it’s over, but don’t expect that lenders will give much back.

From MND:

Mortgage rates continued pressing into the highest levels since July–themselves the highest levels of the year.  In just over a week, the most frequently quoted conventional 30yr fixed rate has moved from 3.75 to a range of 4.0-4.125%.  Most lenders are quoting the same contract rates as Friday, with the weakness instead seen in the form of higher upfront costs.

What’s with all the drama?  In a word: the Fed.  There had been some remaining disagreement about when the Fed was most likely to begin raising rates after nearly 7 years of the record low 0-.25% target.  Last Friday’s jobs report helped get everyone on the same page.  Unfortunately, the consensus is that the hike is all the more likely.  While mortgage rates are not directly linked to the Fed Funds Rate, most interest rates tend to rise when expectations for a Fed rate hike increase.

When rates rise as much as they have and for as many consecutive days as they have, it becomes increasingly likely that they’ll take a break and bounce back somewhat.  If you wait to lock, you will feel like a genius if that happens, but you could be looking at significantly higher costs if it doesn’t.  In this case, the risk of loss is greater than the potential reward for timing the bounce correctly.  Lenders aren’t likely to give back meaningful amounts of the ground we just lost unless the bounce is sustained and substantial.

“Borrowers and loan officers hoping for a fast rebound from Friday’s sell off were disappointed today, as we lost further ground and rates rose slightly.  Since October 27th, treasury yields have soared from 2.03% to 2.35%.  MBS lost roughly 150 bps during the same period, and our “sub 4%” rates are in the rear view mirror at the moment.  At some point, we’ll level off, and perhaps even undo some of the carnage, but until we do, I’ll be advising locking early rather than risking further losses.”

It wouldn’t take much for homebuyer demand to soften a bit.  Higher rates, fewer foreign buyers, the lack of good buys, and the holiday malaise could send the market into a slumber for the next 2-3 months.


Posted by on Nov 9, 2015 in Inventory, Jim's Take on the Market, Thinking of Buying?, Thinking of Selling? | 1 comment