The enthusiasm continues throughout the North San Diego County Coastal region, with new pendings continuing to impress. The doubters will shrug them off, but the active sellers will think their turn is next. Things would need to come to a standstill to really put a scare into the elective sellers; and so long as they see a few sales trickle in, they’ll resist getting their price right (lower).
But you know by now that many active listings, especially those more than 30 days stale, haven’t been shown in so long that the occupants don’t even bother to clean up every morning. Expect the slogfest to drag on ’til springtime, when sellers will goose their price the extra 5% or so to make up.
One reason they are stepping-up–RATES!!!!!!$500 per $100K financed–I thought $700-750 per $100K was cheap a couple years ago!!! Let’s face it, today’s buyer can write a 15 year loan at 3.75 for about the same payment that a 30 year loan would have been a few years back. When you own it in 15 years, does it matter if you time the bottom–just sayin’.
I think rates are in my Carlsbad tour/rant – wait until tomorrow, your neighborhood is cooking!
Best Places to Live, 2010 – Irvine is the first California city, ranked #22:
http://money.cnn.com/magazines/moneymag/bplive/2010/top100/index.html
Yeah, when I saw Saint Albans go pending, I nearly fell over. Unbelievable!
(That’s for you, MB Mike.) 😉
Irvine makes me throw up in my mouth. It’s like Stepford Wives, but throw in fascist HOA’s and fascist cops.
Local boy – that’s exactly what my refi ended up at 3.75 on a 15 year.
I’m thrilled at the idea of being paid off in 15.
I love these “Best Places to Live” articles. They give the best argument why it never pays to rely on numbers to make a life choice. Any evaluation listing anywhere in Texas as a “Best” has never actually spent any time there.
I use to work for JD Power (well a company that JDP bought) and the criteria they use to select the “Best Places” lists are ludicrous.
We are re-fiing as well. However, I’m not going to be surprised if rates continue to go down–can you say 2.5% in 2011.
Leucadia/Encinitas is an excellent place to raise a family. Strangers say hello to you on the street and in the stores. The schools are excellent. AND – for the people that don’t feel their school is good enough, then the DISTRICT IS FREE CHOICE!!!!!!!!!! That means if you live in Leucadia you can send your kids to El Camino Creek 957API 2 miles away. Very attractive.
Also – Leucadia has the 101 remodel coming in the next few years and more remodel with roundabouts on Leucadia Blvd.
I am refi’ing as well, and paying as little in closing costs as possible, because it is likely that I will be refi’ing again next year.
Clearly I’ve been visiting this site too much. When the video started and I saw all the Tyvek, I immediately said to myself, “Ah, he’s at Nantucket again…” *eeek!*