Eleven Towns in California
None are in San Diego County but a good collection to consider if you are thinking of moving!
https://www.worldatlas.com/cities/11-picture-perfect-california-towns.html
None are in San Diego County but a good collection to consider if you are thinking of moving!
https://www.worldatlas.com/cities/11-picture-perfect-california-towns.html
Remodeling? I think it’s a better idea to move!
Renovations are on the rise. As more homeowners are staying put, the need to spruce up their living spaces is gaining more focus.
The 2024 Angi State of Home Spending report released this week details the home improvement projects most Americans invested in last year.
Perhaps unsurprisingly, it also confirmed that one generation is investing more money than any other in home renovations, considering their plans don’t include moving anytime soon.
With 54% of boomers who own homes having pledged never to sell their property, it makes sense that they’d want to make the investment.
Additionally, the news comes after Charles Schwab revealed that most folks of the booming generation are hanging on to their assets, including real estate, for the long haul.
When asked, almost half of boomers surveyed for the report (45%) confessed they wanted “to enjoy my money for myself while I’m still alive.”
Evidently, enjoying their money includes making home improvements.
Baby boomers spent 16.8% more on projects than millennials, who spent an average of $12,101 last year. Gen X wasn’t that far behind, spending an average of $11,781, and Gen Z, which primarily rents their living spaces, spent $9,592 last year.
Given the state of the market and the struggle to create more inventory, it makes sense that the report added that 67% of homeowners prefer putting the work into renovating their current home to better meet their needs rather than moving (It should be noted that 55% of homeowners surveyed cited high interest rates as the primary reason for staying put, rather than the lack of available homes).
It looks like that trend will continue in 2025.
Read the full article here:
https://www.realtor.com/advice/home-improvement/boomers-home-renovation-2024-survey/
The local market isn’t at the frenzy level, but can we at least call it stable?
Last month there were 18% of the sales that closed over their list price. There were 41% of the sales that closed for at least $100,000 under their list price. If roughly 60% of the sales are getting close to their list price or over, then I think that feels like a fairly balanced market.
For the last five months in a row, the year-over-year monthly sales have been higher! The average and median pricing look stable too.
NSDCC Average and Median Prices
Once we get past the Super Bowl, the market should really get cooking! Last February, the over-list percentage was 30%, and then March was the high point for 2024 with 44%. I doubt we will hit either one of those again this year, and I’ll just settle for more YoY sales for the sixth month in a row.
I’ve suggested that there are two different markets. One-story homes, and everything else.
It’s because older buyers don’t want stairs. Simple enough.
Baby boomers control the destiny of the real estate market, and specifically, the supply of homes for sale. They (we) got here first, and they are sticking around longer than ever before. Thus, the supply of one-story homes for sale is tight, and when they do hit the market, they tend to sell for a premium.
It would be nice to identify the premium so all participants can recognize and implement different standards when valuating a home.
This is a dramatic example, but worthy of discussion.
Look at the similarities of these two homes in NE Carlsbad:
Same street.
Same year built (1984).
Same week found their buyer.
Same week closed escrow.
Both had views.
Both were on a culdesac.
Both sold over their list price.
Both listings started their remarks with the universal, “Nestled”
The two-story home was 2,335sf, and sold for $1,618,000, or $692/sf.
The one-story home was 1,863sf and sold for $1,912,000, or $1,026/sf.
A difference of almost $300,000, on the same street, same week!
Yes, the one-story was a flip so it had the standard lipstick, and its view included a peek of the ocean but it was through the powerlines, plus their towers were in clear sight:
There was an 18% difference in price! And 48% difference in price-per-sf!
In this case, I’ll concede a lipstick bonus, and suggest a standard 10% premium for one-story vs. two-story homes. It could be rising too – it’s not going down, that’s for sure!
Happy Tuesday everyone!
I’m a big admirer of Iris Apfel, the American Businesswoman and interior designer.
This Queens native was known for her bold style, chunky bangles, and oversized sunglasses. Although she sadly passed away last year, Christie’s in Midtown NYC will present “Unapologetically Iris: The Collection of Iris Apfel” starting this Saturday, February 8th through February 12th. The exhibition will feature over 200 items of fashion, accessories, and design from Ms. Apfel’s personal collection. While the online auction is open for bidding, you can also view the items in person at 20 Rockefeller Center.
The sale offers decorative art pieces and items from Apfel’s homes in Palm Beach and New York, including a carved “Gussy” ostrich-form bar from Italy, circa 1975, estimated to go for $6,000-8,000.
These are my personal favorites from her collection:
– Venetian pale pink glass coupes & stands
– Lime green figure of Iris riding a scooter – already at $2,400!!
Enjoy the day and happy shopping! – KK
We started signing new listings in October in anticipation of the market getting off to a fast start early, just like last year. So far, so good:
NSDCC January Action
The previous years are sold listings that went pending in January. In 2025, most of the 126 are still pending and some will fall out. But more will be added too, so we’ll call it even for now.
But tracking about the same as last year is a good sign – last year was red hot in the first quarter.
How are we doing with the six listings in a row?
506 S. Freeman – Sold to cash buyer and closed in two weeks.
11463 Nantucket – Multiple offers and in escrow after first weekend. All contingencies released yesterday.
29482 Vista Valley – Active listing, 12 days on market. A real specialty property. It should sell.
The fourth listing was tenant-occupied, and they just vacated – we’re getting access today.
So instead we plugged in this RB condo for launch last weekend:
15283 Maturin #57 – Three offers, all over the list price. Will go pending today.
We decided to pause this week and launch the next listing on Thursday the 13th. Not because I fear going up against the Super Bowl because it doesn’t start until 3:30pm on Sunday – we’re doing a touch more tune-up to the house. Our next two listings are real trophy properties, stay tuned!
I think we can say that the market is fine, and isn’t showing signs of stalling due to a surge in listings.
In the post-settlement world where agents are expected to prove their value, Compass will soon unveil a new client-facing portal that it says will streamline the transaction process for buyers and sellers while also helping its agents build more business.
The new portal is being introduced as Compass continues to push agents and consumers toward its private listings channel — betting on a future where the hotly contested Clear Cooperation Policy is repealed.
According to Rory Golod, Compass’ president of growth and communications, the portal — dubbed Compass One — is “the first of its kind” in the industry, allowing an agent and client to work together through the entire transaction. The brokerage has also called the product, which it developed fully in-house, “the #1 most requested piece of technology” for agents and clients. Compass built it out in phases, Golod said, starting with the agent tools and then creating Compass One.
“It’s interesting that in other advisory businesses — whether it’s banking, accounting or other businesses — you log into a portal,” he explained to Real Estate News. “If you work with a private wealth manager, you go to their portal, you see all your assets, your communications, and your documents.”
The platform offers a detailed timeline of the buying and selling process along with the expected timing for each step. Service providers such as mortgage brokers or inspectors “live in here too,” Golod said.
Pushing private listings, helping sellers avoid ‘negative insights’
But bringing the client, agent and other professionals together isn’t the only thing the new platform does. It also integrates the company’s “3-phase marketing strategy” where agents are encouraged to pitch sellers on the Compass Private Exclusives channel first and the Compass Coming Soon channel second before going to the open market. The company formally launched this strategy last November.
“Taking a listing and just throwing it on the MLS and aggregators on the first day you launch it without getting any feedback from the market, understanding if you’re priced right, understanding what the demand is and building up interest — you’re not serving your clients’ best interests,” Golod explained.
Currently, Compass has about 5,500 Private Exclusive listings, a spokesperson said.
One of the first tasks for sellers and their agents in the One Compass portal is to discuss the Compass Private Exclusives channel. Golod said the push toward private listings puts regular home sellers on the same footing as “homebuilders, celebrities and ultra-high-net worth clients” who often sell their homes off the MLS, and it helps sellers avoid “negative insights that hurt their value” such as days on market and price reductions.
Read the full article here:
https://www.realestatenews.com/2025/02/01/compass-launches-client-portal-amid-private-listings-push
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The discussion of the future went a bit further yesterday on Greg’s blog:
https://www.vendoralley.com/2025/02/02/crmls-aint-playing/#comments
All of the listings mentioned above were listed in the MLS and available for buyer-agents to sell. But where are they? Realtors will tolerate the current policy for a while longer, but we don’t like it either – and though the MLS used to be the ideal solution for all involved, those days are behind us now. For many agents, representing buyers is more trouble than its worth.
Remember a couple of years ago when I started predicting that buyer-agents will go away?
This is it – it’s happening right in front of us, and nothing will stop it.
With a strong foundation built on agent expertise, innovative technology, and a customer-first approach, Compass is well-positioned to overtake Zillow as the most influential real estate platform. As Zillow continues to struggle with profitability and data limitations, Compass is thriving by embracing the reality that real estate is not just about listings—it’s about relationships and local market knowledge.
As Zillow continues to struggle with profitability—marking its twelfth straight year without earning a profit—Compass is poised for continued growth. Real estate is inherently a local business, and Reffkin’s strategy of leveraging a strong network of agents gives Compass a significant edge over data-driven platforms that lack a personal touch.
With Robert Reffkin at the helm, Compass is not just competing with Zillow; it is redefining the real estate experience and paving the way for a more efficient, agent-focused industry future.
As the industry continues to evolve, buyers and sellers will increasingly seek platforms that offer not just data, but also real, tangible support from experienced professionals. With its unique model, Compass is set to lead the future of real estate, leaving Zillow struggling to keep up.
Read the full article here:
My predicted surge in inventory is underway – look at the navy-blue line above. There are 363 active listings between La Jolla and Carlsbad today, and once the Super Bowl is out of the way, we should really get rocking. It should easily reach 400 before the end of the month.
It’s not a bad thing for the sellers who are willing to price attractively – there is still plenty of action. There will just be more this year that don’t sell at all.
NSDCC New Listings In The Last Week: 72 (+8%)
NSDCC New Pendings In The Last Week: 28 (+9%)
Buyers love the additional choices and will continue to be very picky, especially on price.
How did last month measure up?
NSDCC January Sales: 117 (102 last January)
NSDCC January Listings: 243 (242 last January)
Both of those categories should swell by roughly 10% as the late-reporters log in.
The final guesses on the number of NSDCC January listings:
211 – Eddie89
213 – Shadash
216 – regina
246 – Anne M
267 – Surfrider
280 – doughboy
293 – Joe
296 – Tim DeRoche
303 – Tom
307 – Jun
311 – SN
317 – CB Mark
318 – Nick
328 – Majeed
337 – natalie
353 – Derek
355 – Skip
365 – Leo
401 – Dr k
417 – Susie
421 – Giving Cat
Giving Cat (Rob Dawg) will probably endure the same fate as with the Coffee Bet – being correct, just early.
In April, 2009, real estate bloggers did a panel discussion on when the bottom would be, and I guessed December, 2011. Instead, the bottom happened during the very month of our discussion – April, 2009! https://www.bubbleinfo.com/2009/04/24/coffee-bet-2/
Check those lively comment sections too!