New Homes in North County

Reader metta8888 left this comment on the youtube channel that summarizes the 7,611 new homes being built in North County – they are just further out.  As we become more accustomed to driverless cars, these new homes might give coastal buyers some alternatives.

Here is his research on the current and proposed future projects:

1. Meadowood – Pardee Homes is building 844 homes on a 389.5 acre site in Fallbrook, near interstate 15 and state route 76:

http://meadowoodcommunity.c­om/

2. Campus Park. D.R. Horton is building 751 homes in Fallbrook, near I-15:

http://www.drhorton.com/California/San-Diego/Fallbrook

(more…)

La Jolla 92037 – Sold

This beautiful hilltop 3 bedroom plus loft, 2.5 bath 2,181sf home is located in a gated enclave of just 36 residences in the bustling La Jolla Village area near UCSD campus, hospitals, UTC, new trolley line, and the I-5 freeway!  Enjoy the quiet, secluded outdoor space, perfect for entertaining. The recently remodeled chef’s kitchen is just one of the many upgrades throughout. A large bonus loft is your future media, game room or 4th bedroom. Take advantage of the much acclaimed La Jolla schools. Enjoy life in prestigious La Jolla!

Our buyer purchased for $1,042,000, which is the lowest-priced sale of a detached home in La Jolla this year!

Peppertree Park – Sold

Spectacular 3 bedroom, plus office and loft, 3 full bath, 2,670sf executive home located in the desirable gated community of Peppertree Park, with a private and pleasant outdoor entertaining area. A family home paradise, the residence and outdoor living areas are beautifully landscaped with covered patios, walkways, and landscape lighting.

Quality and style is featured with a flowing floor plan, high ceilings, custom tile flooring, Berber carpet and plantation shutters. A gourmet kitchen, with an informal dining area off the kitchen, is open to the family room. The master suite, along with the master bath and walk-in closet, is very spacious and has lush tree-top views.

Enjoy the private 6 acre community park with spacious grass areas, basketball court and walking paths along with the adjacent 60 acre Los Jigueros Wildlife Preserve which add to the beauty of this wonderful piece of paradise!

$583,000

The Best Real Estate Blogs

The 2018 list of the Best Real Estate Blogs is out:

Link to List

Another San Diego realtor, Gavin Grant, was also featured, and on his blog he laid out his formula for determining the best time to sell your house.  By his calculation (Pendings/Actives) in each of the last three years, the best time to sell your house was in March!

Link to Gavin’s post

I have said in the past that the best time to sell is in May, and his counts show the most actual pendings then.  But there are also more active listings too, so the competition nearby could affect your chances.

My Tips On When To Sell:

  1. When Everyone Else Isn’t (no competition nearby).
  2. When you have supportive Pendings and Solds nearby.
  3. When you know for sure Where You Are Going.

Get Good Help!

Sellers Are Listening

Hat tip to Richard for sending this in:

Jill Comfort, a Phoenix-area Realtor, had a good feeling about the cream-colored stucco house she planned to show her client, a young man relocating to the city from California. It was in his budget, in the right location and had a huge pool and back yard that would allow him to entertain.

It also had multiple surveillance cameras that recorded everything that went on as prospective buyers walked through.

“When we were walking out of the hallway we could see they were following us,” Comfort said. Both agent and client felt “awkward,” she added.

“I can understand where some sellers are leery of strangers walking through their house, but that’s what happens when you put your house on the market,” Comfort said. Her client, she said, was “creeped out.”

As homes become smarter, real estate agents and home buyers are increasingly finding there’s an extra set of eyes and ears on them as they tour properties for sale. In a 21st-century version of the “nanny cam,” Realtors describe everything from old-fashioned security cameras to newer contraptions like Nest thermostats tracking their conversations and actions. The rise of these wired home sellers is raising fresh concerns about privacy, courtesy and legality in a transaction that’s already fraught with emotion and potentially full of pitfalls.

Andie DeFelice is a broker with Savannah-based Exclusive Buyer’s Realty, Inc., and the president of the National Association of Exclusive Buyer Agents. Last fall, DeFelice took a client to see a home that seemed perfect for his specific needs: it had a detached combination two-car garage and studio with living room, kitchen and full bath — perfect for his grown son.

Shortly after the deal settled and her client had moved in, his new next-door neighbor introduced himself with some unsettling news, saying, as DeFelice put it, “I just want you to know the guy who sold the house knew he had a buyer the minute you walked through.” The neighbor wasn’t making it up: he was able to repeat the conversation client and broker had when they toured the house.

“It’s one of those things where it is the person’s home, they have the right to do whatever — but you feel a little violated,” DeFelice said.

Because the house was one of a very few with the unique feature that the buyer wanted, she added, the seller was right — her client was primed to buy the moment he stepped in the door. And he doesn’t feel that he tipped his hand unknowingly to the camera and then overpaid — although that’s a real risk for other buyers caught commenting during tours. What does rankle DeFelice about the encounter, she said, is that the previous owner referred to him as “the older guy” with a “younger” son when describing the transaction to his neighbor.

Rogers had a similar experience. She was selling the home of a couple who used a Ring Door Bell, now held by Amazon, even when their home was not on the market. Although they had signs about ongoing recording clearly posted — as is the law in Oregon — one buyer and her broker lingered on the porch, discussing the property.

Hearing the way the buyers talked about their property was “unsettling” for the sellers, Rogers said. Even though they were the ones capturing a conversation carried on by someone else,“they felt violated with the people standing on the porch talking about the house.”

Link to Article

Insatiable Appetite for Housing

It seems the majority of people are buying for the long-term – adjustable-rate mortgages are only 7% of the total loans made (ten years ago it was 35%).  The chief economist for the MBA remains bullish – from CNBC:

Not enough for-sale signs in front yards are driving residential home prices higher, the chief economist at the Mortgage Bankers Association said Tuesday.

The stubborn lack of gain in average hourly earnings, seen in last week’s release of the latest government employment report, has been well documented. Wages in February grew at a less-than-expected 0.1 percent, representing a 2.6 percent advance on an annualized basis.

Adding insult to injury for homebuyers with stagnated earning power, national home prices rose 6.2 percent annually, according to the latest S&P CoreLogic Case-Shiller’s most broad survey. Prices nationally are now 6 percent higher than their 2006 peak before the housing crisis.

“The major constraint in the market right now is the lack of supply,” Fratantoni said. “The absolute number of units on the market is near an all-time record low.”

Fratantoni said homebuilders are trying to increase their pace of construction but “not fast enough.”

Mortgage rates around four-year highs are “a bit of a headwind,” Fratantoni said. “[But] tempering demand a little bit is not really going to be a problem” in this real estate market.

This insatiable appetite for housing is happening even before the peak of the millennial generation reaches first-time homebuyer age, he said.

“There’s just going to be this wave of housing demand hitting the economy over the next four to five years. And we think it’s going to bolster steady growth over that time period,” Fratantoni said.

Link to Article

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