The largest agent club in Southern California is growing its membership quickly, as the erosion of the cooperation between brokers continues.
We’ll hear more about the disrupters, discounters, and consolidation, but the underlying theme is that agents are only going to be sharing their listings with one another as the last resort if they can’t sell them off-market.
The realtor groups on Facebook are bursting with off-market talk, though we don’t know how many deals are actually being done. But with so much focus on the off-market space, it is inevitable that more transactions will result.
The PLS only has five listings in San Diego, but it’s just getting started here. One of the five is an active listing on our MLS, but the rest look like they expect some off-market action as a result of being listed here:
With no one in the industry objecting, expect more of this in the future.
Last year’s selling season was a little bumpy but was solid through May – and then dropped off once we got into summer and rates started rising.
The wait-and-see pattern kicked in as 2019 opened, but with rates having eased, we’re on our way now.
If mortgage rates will determine our fate, what can we expect for the rest of 2019? It looks like we should see mortgage rates stay in the low-4% range for now. The 30-year fixed rate is typically about 1.75% above the ten-year bond yields, which today is around 2.52%.
This is from the WSJ:
I’m going to guess that our pendings will peak again in May this year, but have a more gradual descent through the rest of 2019 than we had last year.
The relaxing of the average NSDCC list-pricing might help too:
NSDCC # of Actives / Avg. LP-per-sf
Week
$0-$1.0M
$1.0M-$1.5M
$1.5M-$2.0M
Feb 25
67/$494
175/$494
130/$670
Apr 8
91/$455
215/$512
139/$618
The MLS doesn’t support analyses once the counts get too high, so I don’t have any pricing for the Over-$2M category (but should be around $1,000/sf). The number of $2M+ actives has only grown from 453 on February 25 to 472 today. There are 98 pendings too!
Check out my listing of a complete 5.5-acre horse ranch with two huge riding arenas, equicisor, 2 tack rooms, fenced pasture areas and stalls for 17 with plans/materials for 12 more!
Two detached cottages, each with their own kitchens, updated bathrooms, and individual septic systems make an ideal set-up for the owner-user.
Three electric gates for easy access to the whole property, 10,000-gallon water tank with a working well that pumps 70 GPM, plus access to riding trails too! Zoning allows ten horses per acre.
Back in July 1978 the average home price in San Diego was $73,000. That may sound inexpensive but that was still $22,000 higher than the national average at the time! La Jolla was much higher and you couldn’t find much for under $150,000. Scripps Ranch average was between $90,000-$100,000, Mira Mesa ranged between $55,000-$100,000, and the newer community of Rancho Penasquitos average was $75,000. Chula Vista had some good buys and Imperial Beach averaged about the same as the city of San Diego. In this three part series, Dave Cohen interviews century 21 realtor Jay Meetze on the housing market in the summer of ’78.
I’d love to see more projects like this one. No prices published on their website, but doesn’t everything new in the village have to be over a million?
This video probably played here back in the day, but I don’t have a record of it. Doug’s most important point that day: The number of oceanfront properties doesn’t change, yet how many millionaires are we making every day? (1,700)
In March, Facebook said it had agreed to a settlement with civil rights groups over discrimination in the way it has allowed advertisers to target audiences.
In an announcement about the settlement, the company said, “Anyone who wants to run housing, employment or credit ads will no longer be allowed to target by age, gender, or zip code.”
But there was a nugget of far greater interest to members of a certain industry in another point. “We’re building a tool so you can search for and view all current housing ads in the U.S. targeted to different places across the country, regardless of whether the ads are shown to you,” said Facebook.
Facebook intends to build a platform that aggregates advertisements for housing products and services, a spokesperson confirmed. That could be homes for sale, or it could be new developments, or even a lottery for an affordable housing opportunity.
That’s a very different proposition from Zillow’s secret sauce. The company describes its web site as a “living database” of 110 million U.S. homes, whether they are for sale or not, and relationships with nearly all the entities that provide the data announcing when homes do become available for sale.
“Uh, you mean, a massive consumer real estate portal like Zillow?” wrote Julian Hebron and Spencer White, two housing finance tech professionals who consult and blog under the name The Basis Point.
No, not quite like Zillow.
But Hebron told MarketWatch that it’s still “a brilliant move by Facebook.”
“It satisfies fair housing law in that if all housing data is in one singular place that the consumer can go to and search, they are not being targeted in any way,” he said.
Our client wanted a smooth transition when moving, and he got the quality help he needed from Neat Method. Here’s an introduction, plus our client’s warm words about Donna and her assistance at the end of the video:
