NSDCC January Sales

by | Feb 11, 2017 | Jim's Take on the Market, North County Coastal | 3 comments

Above: South Carlsbad in 1972. Below: How it looks now, with a multi-use hotel complex coming someday to the remaining dirt at bottom (hat tip THB!):

Almost all of the late-reporters have marked their January sales closed by now.  Here is last month’s tally for detached-homes between La Jolla and Carlsbad:

NSDCC January Sales

Year
Number of Sales
Cost-per-SF
Median SP
Avg DOM
2013
185
$379/sf
$845,000
69
2014
182
$501/sf
$1,045,500
60
2015
165
$507/sf
$1,218,000
73
2016
168
$557/sf
$1,093,500
53
2017
162
$519/sf
$1,178,390
55

This is an area of 300,000+ people – as different neighborhoods get hot, prices are going to bounce around. Keep an eye of the number of sales; that’s where you would see a shift in buyer temperament.

Note: Most of these buyers knew Trump was going to be president when they made their decision to buy. From now on, our market stats should be reflecting the accurate Trump Effect, if any.

Ethics Violation

by | Feb 10, 2017 | Ethics, Jim's Take on the Market, Listing Agent Practices, Realtor, Realtor Training | 20 comments

For the first time ever, I’m going to file a complaint against another realtor.  In this case, the listing agent discounted her commission so her buyer would win, even though my all-cash buyer had a higher offer.

It is in the vaunted Realtor Code of Ethics that any different commission deal needs to be disclosed to the buyer-agents:

7.22 Dual or Variable Rate Commission Arrangements. The existence of a dual or variable commission arrangement shall be disclosed by the listing broker by a key, code or symbol as required by the MLS. A dual or variable rate commission arrangement is one in which the seller or owner agrees to pay a specified commission if the property is sold by the listing broker without assistance and a different commission if the sale results through the efforts of a cooperating broker, or one in which the seller or owner agrees to pay a specified commission if the property is sold by the listing broker either with or without the assistance of a cooperating broker and a different commission if the sale results through the efforts of a seller or owner. The listing broker shall, in response to inquiries from potential cooperating brokers, disclose the differential that would result in either a cooperative transaction or, alternatively, in a sale that results through the efforts of the seller or owner. If the cooperating broker is representing a buyer or tenant, the cooperating broker must then disclose such information to his or her client before the client makes an offer to purchase or lease.

Of course, when taking the listing most agents don’t think they are going to discount their commission to screw another agent out of a deal, but once they get into the heat of battle, they lose their mind and forget.

Or they never knew it was against the rules.

The maximum penalty is a letter in the agent’s file for six months, so there isn’t a big deterrent to being unethical.  They say that the reason the MLS exists is to ensure cooperation and compliance between agents, which sounds good – right up until money is on the line.

I wonder how many agents have read the Code of Ethics?

Trump Travel Ban and Real Estate

by | Feb 9, 2017 | Jim's Take on the Market, Local Government, Market Buzz | 6 comments

A pair of married software engineers hooked up with real estate agent Tim Gullicksen about six months ago in pursuit of their dream home.

After taking time to peruse the market, the couple found a multimillion-dollar single-family home in San Francisco that they loved. In January, they wrote an offer letter to the seller, complete with an attached photo of the young family, and squared away their finances.

In early February, the couple told Gullicksen they would no longer place a bid. They planned to take a three-week vacation in their native country of India, and decided they couldn’t risk buying a house if President Donald Trump’s administration wouldn’t let them back into the US. (While no such restriction exists, they worry the new administration might change its mind.) They declined to speak with Business Insider directly for fear of retribution from the government.

San Francisco is one of the most competitive housing markets in the US, with a median listing price that tops $1.1 million. But foreign-born tech workers, who often commute to Silicon Valley, are starting to back out of buying property because they worry about an escalating crackdown on immigration under Trump, according to some real estate agents.

(more…)

High-Tech Features for Your Home

by | Feb 8, 2017 | Jim's Take on the Market, Tips, Advice & Links | 4 comments

You’ve torn out the old carpet and replaced the kitchen cabinets, and your renovation is almost complete. Before you put everything back together, consider including some high-tech features on your list of remodeling must-haves. Adding a few new smart devices is a cinch when you’re in the process of remodeling—why not make a little room in the budget for something that can make your life easier and help cut down on expenses overall?

Here are eight of the coolest smart devices to include in your home remodel.

1. Nest Cam

With its wide range of consumer-friendly smart products, Nest has made a big name for itself in the smart home industry—and this powerful little camera is one of the main reasons why. The Nest Cam records in crystal-clear 1080p resolution and streams 24/7, so you’ll never miss a thing. The Nest Cam Indoor also comes equipped with a speaker and a mic and will alert you if you’re not at home and it detects motion or conspicuous noises.

2. Philips Hue

Philips Hue LED lightbulbs are smart and energy-efficient, allowing you to control the lighting in your home while cutting energy costs. There are 16 million colors and a variety of smart controls to choose from, making your lighting system as subtle or dramatic as you’d like. Sync your lights with movies or music, set the ambience for concentration, or create a gentle morning lighting routine. With the Philips Hue Bridge, you can link up to 50 lights and other accessories, making a completely customizable lighting experience.

3. Vivint Doorbell Camera

Vivint’s sleek Doorbell Camera lets you see who’s at your door no matter where you are. With a 180-degree look at your porch and night-vision capabilities, you always have a clear view. The Vivint Sky app will send you a notification whenever someone rings the bell and allows you to turn the camera on and off and adjust your doorbell chime. You can also lock and unlock the door remotely, and speak to friends and strangers through the doorbell.

4. Chamberlain MyQ Garage Door Opener

The Chamberlain garage door opener connects to your home’s Wi-Fi network and allows you to open and close your garage door from anywhere. Chamberlain says it’s compatible with any garage door opener made after 1993: the only requirement is that it must include safety sensors at the bottom of the track. And prepare yourself—CNET called it a “smart-home gateway drug.”

5. August Smart Lock

August’s Smart Lock replaces the interior side of your deadbolt (so it doesn’t throw off the look from the outside), granting you the ability to lock and unlock your door with your smartphone. The Smart Lock doesn’t stop there, though. You can create virtual keys for your family and friends, granting them access as well. The August Home app will even auto-lock the door behind you and unlock the door for you as you approach—you don’t have to do a thing.

6. Nest Learning Thermostat

Nest’s Learning Thermostat learns your patterns as you use it—within a week it will adapt to your preferred temperatures and set itself to match your preferences. If you like your home cooler at night and warmer in the morning, for example, the Learning Thermostat will automatically adjust the temperature for you. It will also adjust to an energy-saving mode when you’re not home. The company says it can pay for itself in energy savings after just two years.

7. Samsung Family Hub Refrigerator

This Energy Star-rated refrigerator does things you never knew you wanted your fridge to do. For starters, every time you close the door, three cameras take pictures of the contents inside. You can then check what’s in your fridge from your phone, so you never have to wonder what you need from the store. If you’d rather not go to the store yourself, you can place an online order using Groceries by Mastercard, one of many included apps accessible right from the touchscreen on the door. You can also sync and display calendars and photos on the screen, leave notes, stream music—even watch TV.

8. Amazon Echo

The Amazon Echo is a 360-degree Bluetooth speaker featuring Alexa, Amazon’s voice-activated assistant. Alexa can stream music, tell you the weather, answer your questions, get traffic updates and sports scores—all the stuff you expect a voice assistant to do. The main reason it’s on this list, though, is that it can connect to a number of smart devices from other manufacturers, allowing you to control your lights, locks and thermostat with your voice.

These eight gadgets can add some serious value to your life and home. If you’re already remodeling, now’s the perfect time to try a few out and get a little taste of the future.

http://blog.rismedia.com/2017/8-high-tech-features-remodel/

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Congrats Tyler

by | Feb 8, 2017 | About Kayla, Local Flavor

Congratulations to Kayla’s good friend Tyler Gaffney (on the left in photo), who was CIF Player of the Year when he helped Cathedral win the state championship in 2009 and then played at Stanford.  Tyler was in the Super Bowl parade yesterday – that’s right, he’s been with the New England Patriots the last three years, and will now have TWO Super Bowl rings!

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