In the never-ending attempt to make sense of the market using data, it is interesting to note today that in two out of three price categories, the current pendings are priced higher than the actives.
Price
NSDCC Active Listings
Avg. LP/sf
NSDCC Pendings
Avg. LP/sf
Under $1M
112
$434/sf
57
$467/sf
$1M to $1.5M
203
$487/sf
110
$483/sf
$1.5M to $2M
174
$612/sf
51
$642/sf
It’s makes me think that the home’s condition is what’s driving sales. People are willing to buy, and even pay a little more for the creampuffs, while the homes with any defects are struggling to sell.
Buyers are looking for any reason not to buy, and stay on the couch. All we need to fix that is a compelling home/price!
There may be reasons for a market slowdown, but there is a fascination about real estate that keeps people engaged. We had 200+ people attend the open houses this weekend – wow! We haven’t received offers yet, but if those 200 people tell another 200 people…..market buzz!
Redfin bumped their estimate twice, to over list price now!
It’s easy! Just buy your tickets, and you’ll receive an email with links to your Tour map. Then, on Tour day, start at any house and proceed in any order at your own pace to the homes that interest you the most – or to all of them!
Wondering what the Boeing 737 airplane needs for a runway?
The minimum runway distance for a 737 is 6,800ft. This proposal only extends the current runway to 5,697ft.
The article:
The San Diego County Board of Supervisors voted unanimously Wednesdsay to approve a new 20-year master plan for the McClellan-Palomar Airport. Supervisor Kristin Gaspar recused herself.
Part of the update includes extending the existing runway up to 800 feet. The county of San Diego said this would allow airplanes to reach the East Coast, Europe and China without having to refuel.
People living in the area are concerned that a longer runway could mean a lot of noisy planes — but Supervisor Bill Horn, who is also a pilot, said technology is helping fix that.
“Those airplanes are a lot quieter than the old stuff,” Horn said. “And that’s just going to improve the noise issue.”
A report from county staff said a longer runway would mean airplanes are able to increase elevation sooner after takeoff which could also reduce noise on the ground.
An economic analysis shows that by 2030 the Palomar airport could support more than 4,500 jobs and provide $33 million in state and local tax revenue. The runway extension project is expected to take 13 to 20 years to complete, depending on available funding.
The airport is constructed over portions of an inactive landfill, and stakeholders commented that runway extensions constructed over landfill areas could damage the methane collection system and impact the environment. Prior to construction of any improvements on the landfill, the methane collection system will be re-designed to accommodate the improvements.
Any runway extension that requires construction over areas of inactive landfill may not be fully eligible for the FAA’s usual 90% grant share since FAA has indicated they may be reluctant to fund projects that result from the County’s placement of the landfills.
Authentic and like-new modern farmhouse west of I-5 – wow! New roof, new HVAC, new baths, new and expanded kitchen with chef’s island, master suite with huge walk-in closet – and all done with permits too! Wire-brushed French Oak hardwood floors, board & batten siding, vintage farmhouse lighting all done in exquisite detail – impressive! Multi-gen will love the multiple bedrooms downstairs, and this is half the price you’d pay in Encinitas/Carlsbad for a turn-key farmhouse this close to the beach!
It’s John’s birthday today! (He’s 72) John Prine is having a heck of a summer. He released this video at the bottom of this post about opiate addition to rave reviews. He received the Artist of the Year (mentioned below), and yesterday he was also nominated for the Rock and Roll Hall of Fame!
John Prine’s new video for “Summer’s End” packs an emotional wallop, carefully and beautifully rendering a story about a family grappling with loss.
“Summer’s end’s around the bend, just flying,” sings Prine in the opening line, summoning that bittersweet feeling of change in the song from his 2018 album The Tree of Forgiveness. Prine appears strumming his guitar in several scenes, but the narrative in the clip, directed by Kerrin Sheldon and Elaine McMillion Sheldon, centers on an older man and his young granddaughter, both trying to cope with the death of her mother (and his daughter). The details come out in brief flashes – long summer days, visiting her gravesite, the comfort of friends on the playground, and a TV news story about opioid overdoses.
At the conclusion of the clip, a note says “Dedicated to Max,” in honor of former Nashville mayor Megan Barry’s son Max, who died in 2017 from a combination of opioids and other drugs. Prine and Barry’s families are close and he performed at Max’s memorial service.
Prine recently clenched the Artist of the Year award at the 2018 Americana Honors & Awards, his third overall win in the category. It’s a continuation of his victory lap in 2018, having released The Tree of Forgiveness in March to his best-ever first-week sales, notching more than 50,000 equivalent albums. On Tuesday, he surprised a Grand Ole Opry crowd by performing his song “Paradise” with the Steeldrivers and other special guest Bill Murray.
This is the Zillow graph of my luxury one-story listing. It shows how quickly the attention span drops off, and the importance of taking advantage of the early urgency. Make the first impression a good one, because viewers have their searches pre-programmed, and they click & go.
There is a pending sale up the street of a 5,345sf two-story house listed for $1,799,000, and while I had built my case why the one-story homes were more desirable and deserved a premium, apparently that buyer didn’t get the memo. My seller took my advice, and lowered early and in 5% increments – which caused the one-day bump in the views above – creating a sizable gap between us and the pending home up the street.
It worked – we found our buyer a week later!
I’m a big believer in our open-house marketing – it gives us a chance to help the buyers directly. Even though they later said they had an agent, I’d rather do what I can to help make the sale, regardless of who gets the commission.
The transition from a foreclosure-video website to a general real estate format has been challenging, and I’m thankful to have an audience.
I appreciate you being here!
Thank you to those who comment – you add texture and perspective to the content that makes it much more valuable to all readers. Hat tip to Gary (daytrip) who has supplied much/most of the outside content and colorful commentary – and I only use about half of each!
There are no ads here, and no paid blog posts by outsiders. I try to keep the blog focused on the most relevant, useful topics of the day to assist the reader with their real estate education. I want to be your realtor – what you see here is just a sample of what I can do to help you. I appreciate the blog readers who have allowed me to help them buy and sell houses – THANK YOU!
