Nathan won the contest for Charger playoff tickets, but said he couldn’t make it, and to either give the tickets to the second-placer, or do something else with the dough.
Let’s do something else, so all bubbleinfo participants can benefit.
What could we spend a few hundred dollars on?
Data research?
Pizza parties?
Haiti relief?
Medicinal marijuana for shadash?
Paint for the truck? (hat tip to Justin)
Arturo Ruiz’s ride screams his Chargers pride. The Logan Heights resident painted his 1966 Chevy truck, and his house, in blue and gold.
This youtube shows an example of how a premium La Costa Greens property should end up being among the better-priced in area, because the bank will probably base it’s valuation on inferior comps. This could end up on the court house steps in the $900,000s:
Since 10/1/09, there have been nine two-story houses in La Costa Greens/La Costa Ridge that closed escrow, averaging $218/sf, and two one-story houses that closed for $328/sf.
We already know that flippers are flooding the streets in search of profits, so it’s inevitable that we’ll see them competing…..with each other! Don’t be surprised if we see surges of new listings, especially around recent high sales – here’s a youtube video:
The market is hotter than it looks, because when a decent property in a superior location gets listed for an attractive price, the buyers come running – there just aren’t that many that fall into this category.
How many sellers are willing to list for an attractive price give them away?
How is the 2010 market comparing with previous starts?
North SD County Coastal Detached Homes (from Carlsbad to La Jolla), during Jan. 1-11:
Year
Total Listed
LP $/sf
Closings
SP $/sf
2002
174
$366/sf
66
$252/sf
2003
227
$416/sf
59
$319/sf
2004
121
$527/sf
61
$385/sf
2005
154
$530/sf
61
$498/sf
2006
268
$560/sf
52
$511/sf
2007
217
$543/sf
61
$522/sf
2008
187
$465/sf
28
$481/sf
2009
155
$545/sf
30
$387/sf
2010
164
$553/sf
27
$339/sf
The lower number of listings is contributing to the constricted-inventory conditions, and the average list-price-per-sf is reflecting exuberance on behalf of the early listers – we’ll see how they do.
The very-low number of closings makes it look like things fell apart towards the end of 2009, but was there a big rally to close before year-end?
North SD County Coastal Detached, DECEMBER:
Year
Dec. Closings
SP $/sf
DOM
2002
316
$332/sf
59
2003
323
$370/sf
54
2004
242
$488/sf
62
2005
206
$469/sf
69
2006
238
$477/sf
72
2007
140
$441/sf
76
2008
132
$392/sf
72
2009
235
$403/sf
86
Yep, there was a push to close at the end of 2009 – the industry is starved for transactions.
Over 2009 it looks like we just stumbled along in North SD County Coastal region, in spite of being 18% off peak pricing. Here are the yearly totals:
North SD County Coastal Detached, YEAR
Year
Total # of Closings
SP $/sf
DOM
2002
3,717
$303/sf
56
2003
3,932
$346/sf
53
2004
3,363
$446/sf
46
2005
3,014
$479/sf
55
2006
2,626
$481/sf
66
2007
2,481
$468/sf
67
2008
2,036
$438/sf
70
2009
2,215
$394/sf
76
If there were more well-priced properties, we could sell twice as many homes. Back in the day, everything was selling, even the crappy deals. Today the buyers are much more discerning, and if the price ain’t right, no sale.
Want to learn more about real estate? Look at properties every day.
Let’s view at least 200 videos this year, displaying 5+ houses each.
A year from now, you will have seen over 1,000 houses in North SD County Coastal region, and be able to evaluate any house around. You’ll feel more confident and comfortable about buying and selling, and when the right one comes along, you’ll be ready!
“To avoid potential short-term value depression, potential buyers should check local foreclosure rolls for an excess of pending defaulters in a neighborhood”, says Jim Klinge, owner of Klinge Realty in San Diego. But foreclosures aren’t always a stigma. Whether foreclosure buyers are investors or owner-occupiers, “they’re coming in solvent enough to qualify for full mortgages,” he says. “They’re also fixing up houses in disrepair and are usually smart landlords.” One big “must” for every buyer, says Klinge, is to check local sex-offender lists. “It’s a bummer when you find out later that the guy across the street is a peeper.”
More auction-list and REO properties; these are in Del Mar and Leucadia, west of the I-5 freeway. But first, some short-sale advice for listing agents:
