"There's a bit of a buyer's panic," said Jeffrey Gundlach, founder and CEO of DoubleLine Capital, an L.A.-based investment firm. "People are fighting with other people," he noted, engaging in bidding wars in which houses go on the market and immediately receive dozens...
Here is Professor Shiller dwelling on the reasons to be cautious - you never hear him talk about how today's market is being driven by big money (the all-cash purchases, or big down payments blowing out the low-down-payment buyers) and it's long-term impact:
Equity sales, that is sales of non-distressed properties, now constitute two-thirds of all home sales in California, compared to less than one-half only one year ago. A report from the California Association of Realtors® (C.A.R.) puts the share of equity sales in the...
San Diego's latest seasonally-adjusted Case-Shiller Index increased for the 12th month in a row: Jan. 2012: 150.74 Dec. 2012: 164.87 Jan. 2013: 165.48 Year-over-year: +9.8% Month-over-month: +0.4% Yesterday an appraiser confirmed that he is adjusting comps for...
They are advertising a 21-day looking period, so you have plenty of time to investigate, but renovating the existing house sounds like a losing battle. The house needs everything, there isn't enough view, and the two neighbors to the west are imposing: Note how tall...
The biggest recent change to Keep Your Home California was deemed an "aggressive, out-of-the-box idea that yielded positive results" by Claudia Cappio, executive director of the California Housing Agency, which oversees the program. The change was made in order to...
Realtors copy what they see others doing in the MLS, and these days it has become common for listing agents to mention when they will be presenting offers, which is rather presumptuous. How do you know you are going to have offers? I guess you can call it a marketing...
Consumers love to rate the products they’ve bought, the movies they’ve watched, the restaurants they’ve eaten in, even the doctors they’ve visited. The National Association of Realtors is testing a program that allows homebuyers and sellers to review the real estate...
The national homes-for-sale inventory is on the rise (reported here), but it's just another vague soundbite. The local numbers are what matter - here are today's active listings of detached-homes between La Jolla and Carlsbad: Date NSDCC Listings Avg. LP $$/sf Jan 14...
From the Coast News: Encinitas has until Aug. 30 to show where 1,300 state-mandated housing units could be built as part of its housing element. If the city wants to meet the housing element deadline, Encinitas will have to make significant progress. Cities could...
