The next release is scheduled for this weekend, and they are busting loose. Previous phases have had 4-5 houses released for sale, but this week NINE will be hitting the open market. There are dozens of people on the priority list, but none of these are canyon-front so it will be interesting to see how they do:
Plan 2 = 4,458sf
Plan 3 = 5,288sf
Plan 4 = 6,235sf
Yesterday I saw a for-sale sign in front of an upcoming REO listing. It made me wonder, “How many REO and short-sale listings of detached-homes have we had this year around NSDCC? Here are the counts:
REO: 5
Short Sales: 43
Non-distressed: 3,516
There’s not much chance of finding a deal these days!
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Here is the update on the Mortgage-Debt Tax Relief:
From wiki: http://en.wikipedia.org/wiki/Drive_Like_Jehu
Drive Like Jehu was an American post-hardcore and alternative rock band from San Diego active from 1990 to 1995.
Formed by rhythm guitarist and vocalist Rick Froberg and lead guitarist John Reis following the breakup of their band Pitchfork, the band’s lineup also included bassist Mike Kennedy and drummer Mark Trombino.
Their music was characterized by multisectioned compositions, interlocking guitar patterns, orchestrated builds and releases, and elliptical melodies that produced a distinctive sound amongst other post-hardcore acts and impacted the evolution of hardcore punk into emo.
On Sunday, DLJ reunited for the first time in 19 years, and played at Balboa Park’s Spreckels Organ Pavilion – with Carol Williams, the organist:
http://voiceofsandiego.org/2014/09/02/culture-report-a-surge-of-san-diego-pride-at-spreckels/
Here is their full set:
From Bloomberg.com:
The collapse in U.S. home prices that stoked the worst recession since the Great Depression wasn’t quite as severe as initially estimated, according to data from S&P/Case-Shiller.
Property values nationally fell 26 percent from the February 2007 peak to the December 2011 trough, not 34 percent as previously reported, revised data showed last week. The index will now be issued monthly rather than quarterly.
The change is the result of CoreLogic Inc. (CLGX)’s $6 million purchase of the S&P/Case-Shiller index from technology company Fiserv Inc. in March 2013. Case-Shiller has spent more than a year retrofitting its model with CoreLogic’s bigger, higher-quality data set, leading to a change in how the index looks.
The real estate industry favors sellers, and buyers are under-represented. Here at the blog I’ve done my best to help educate buyers, and give you a fighting chance. Here’s someone who wants to take it further:
http://blog.launch.co/blog/rfp-request-for-prototype-brutal-real-estate-reviews.html
An excerpt:
No one is fighting for the people buying houses. Everyone in the business is driven by one thing and one thing only: closing sales.
If houses get sold, brokers on both sides get paid and the world keeps spinning. Ads flow to listing sites, inspectors get paid, mortgage brokers get commissions and home improvements continue.
No one is incentivized to STOP you from buying a home.
No one is trying to PROTECT the buyer from making a bad decision (I know, brokers are supposed to … but they don’t get paid unless you buy!).
This becomes super apparent when you look at the descriptions of homes.
Everything is “charming” and a “compound” and “gorgeous” in the descriptions, but when you go see them they are “depressing” and “dark” and “small”!
So here’s a super simple idea: reviews that tell you, in brutally honest fashion, if you should move into this house or not.
If it’s a fair price.
If it’s a horrible block, if it has a bad landlord, or if the methadone clinic is hopping at 3pm when your daughter gets home from school!
Read full article here:
http://blog.launch.co/blog/rfp-request-for-prototype-brutal-real-estate-reviews.html
More scenes from the seven days of filming shot over the last 15 months. Plus a visit with wifey to the real Enchanted Tiki Bar at Disneyland.
Check out the exhibit in La Jolla on the local mid-century moderns – this is the last weekend!
La Jolla (pronounced “La Hoya” for the non locals and non-hispanically inclined) is a small, exclusive resort town just north of downtown San Diego. As far as architecture goes, it’s long been known for its late 19th and early 20th century traditional, craftsman-style beach cottages. But La Jolla was also fertile ground for modernism beginning even in the 1920s. The post-war period was an especially prolific time in La Jolla, and a small group of architects, artists, and craftsmen made a significant impact on the community with their contributions. These contributions have been largely overlooked until now.
http://modernistarchitecture.blogspot.com/2014/06/climate-change-mid-century-modern-la.html
I always wanted to have a girl named Pippi on the blog – her video is fantastic too. Thanks to daytrip for sending it in:
Anybody can evaluate a tract home with accuracy – the custom homes are much tougher, and depend more on personal visits. If you are in a custom area, hit the open houses (sellers and buyers)!
An excerpt from USAToday.com:
http://www.usatoday.com/story/tech/2014/09/01/zillow-trulia-spencer-rascoff-q-and-a/14703979/
Zillow employs a team of economists who contribute to the Zillow Real Estate blog and release market data that competes with similar research from Case Shiller and others.
The company makes no money off the data but does it for audience growth. “We have a $10-million-a-year expense item for all this,” Rascoff says. “It goes much beyond PR,” he says. “This is data analytics.”
For Zillow users, the company’s trademark “Zestimate” is a way to gauge how much a home is worth. The company produces 110 million Zestimates three times a week, Rascoff says.
The margin for error can vary a lot by region and locale. In San Francisco, “we give ourselves two stars, which is not very good.”
In San Diego, “we give ourselves four stars.”
The wide range has to do with lots of different things, he says, including the quality of underlying data from county records and the like. And the data tends to be less accurate on the high and low ends of the market, because there are fewer comparison homes, or comps.
Still, he says, it’s a pretty good starting point, “considering that we have never been in the home.”
After all, he says, “we call it a Zestimate, not a Zappraisal.”
http://www.usatoday.com/story/tech/2014/09/01/zillow-trulia-spencer-rascoff-q-and-a/14703979/
Charger Girls, 2014
We start the last third of 2014 with the Padres in third-place, and renewed optimism about the Chargers season.
Buyers haven’t lost any ground this year in average-list-pricing, which is the same or lower than at the start of 2014:
The UNDER-$800,000 Market:
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Are you looking for an experienced agent to help you buy or sell a home?
Contact Jim the Realtor!
CA DRE #01527365, CA DRE #00873197
