December Boom Fire

by | Dec 20, 2009 | Jim TV, Market Conditions, North County Coastal, Thinking of Buying?, Thinking of Selling? | 13 comments

Here’s Part One – a video tour of the homes that have gone pending during the holidays.   The action has been red-hot lately!

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Jim the Realtor
Jim is a long-time local realtor who comments daily here on his blog, bubbleinfo.com which began in September, 2005. Stick around!
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13 Comments

  1. Sideline Housing Market Observer
    Sideline Housing Market Observer on December 20, 2009 at 9:14 pm

    Oceanside Condo, 1800+/- at 400k+???

    PENDING on top of that???

    Are people on crack!?!?!?

    “Honey… I’m home!”..

    LOL!!

  2. enplaned
    enplaned on December 20, 2009 at 9:14 pm

    Jim, how do you drive, film and talk at the same time? If I did that, I’d be a danger to myself and others. Seriously, have you ever had any close calls?

  3. François Caron
    François Caron on December 20, 2009 at 9:49 pm

    Someone out there must really love train horns! 🙂

  5. David Overfield
    David Overfield on December 21, 2009 at 12:20 am

    Jim,

    Earlier this year you posted that the market bottom would be when prices DON’T drop much during the slow winter months.

    Do the sales you show and the data indicate we’ve reached the point of firm price levels?

  7. shadash
    shadash on December 21, 2009 at 8:34 am

    Thanks for the “feet on the ground” market info.

    I have no idea what is driving these people to buy right now. Everything seems stacked against them. (time of year, price, supply) The only positive (if you call it that) is low interest rates.

    Sigh… I threw rationality out the window about a year ago.

  8. an observer
    an observer on December 21, 2009 at 8:59 am

    one word for this irrational buying- China

  9. Jim the Realtor
    Jim the Realtor on December 21, 2009 at 9:07 am

    Tax rolls say 1,040sf.

    I just want to pay for the permitted square footage, and get the unpermitted for free.

  10. Chuck Ponzi
    Chuck Ponzi on December 21, 2009 at 9:20 am

    an observer,

    If I understand you correctly, you’re saying that Chinese citizens are buying up residential property in and around Carlsbad?

    Do you have facts to back up that assertion?

    Sorry, I have a hard time believing that. Sounds too much like the MIRAGE of 2006 (Moneyed Immigrants, Rich Ancestors, and Generous Expatriates).

    I think this is good old fashioned demand mixed in with a heaping cup of irrational exuberance. At least that one somewhat makes sense.

    Chuck

  11. anon
    anon on December 21, 2009 at 12:45 pm

    San Diego does have a non immigrant population that is increasing. Different from other parts of California…

  12. ca renter
    ca renter on December 21, 2009 at 3:34 pm

    one word for this irrational buying- China

    an observer | December 21st, 2009 at 8:59 am
    ———————

    I believe this as well. Not necessarily the MLS listings as much, but it sounds like a lot of the bulk sales (that we never see) are going to Chinese entities. A lot of the money at the trustee sales could also be coming from Chinese entities that are working through U.S.-based groups.

    This opinion is based on some anecdotes and information I got while looking into bulk REO purchases and MBS purchases. One name I heard was a VERY large state-owned Chinese RE company that usually deals in large commercial/industrial construction and development projects in China.

    All hearsay, but we can only work with what we’ve got, because the PTB is intentionally keeping things opaque.

  13. tj & the bear
    tj & the bear on December 21, 2009 at 7:30 pm

    WOW, just WOW. Must be a lot of people with six-figure Christmas bonuses out there. Where do I get one of those jobs?

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