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Month: June 2020
Inventory Watch
We've had almost the identical number of new listings in June as we did last year, though we're still way behind where we usually are this time of year. Are only the serious sellers are coming to market in the coronavirus era? Seems like it, because the pendings are...
John Prine ‘I Remember Everything’
Happy Father's Day - we had both kids home! Made me want to remember everything. John's last song: “I Remember Everything” by John Prine I’ve been down this road before I remember every tree Every single blade of grass Holds a special place for me And I remember every...
Rates & Bounce Back
The record-low rates probably haven't helped the higher-end areas as much because the 30yr jumbo rate is higher - though you can pay to get into the mid-3s. An excerpt from MND: How much of the strength in the housing market is due to mortgage rates holding near...
Alt Karlsbad
The entire history of Carlsbad has been wonderfully documented by the Carlsbad Historical Society here: https://www.carlsbadhistoricalsociety.com/ (Hat tip Susan G.!)
Coronavirus Price Premium?
When the coronavirus shut down the economy coast to coast, it was natural to assume that the real estate market would take a hit. Being in quarantine would certainly cause sales to plummet, and with 20% to 30% unemployment, prices would follow, right? All that was...
Suburban Home Searches Up
We love the 'burbs! One explanation as to why our pricing has been stout: If millennials once piled into the cities, fueling downtown renewal and growth, apparently they are now piling out. The stay-at-home orders brought on by coronavirus have more potential...
Sales and Pricing, May 2020
Did anyone predict that the median sales price in San Diego would be higher last month than in 2019? Sales were down 42%, but that was to be expected - the impact of covid-19 was still rolling out and most would wait until it settled down. But there were enough...
‘Need to Nest’
More purchase apps reported today: Buyers are rushing back into the housing market, enticed by record low mortgage rates and a pandemic-induced need to nest like never before. Mortgage applications to purchase a home rose 4% last week from the previous week and were a...
Home Pricing Tips
I spoke to a seller of a home in Texas that isn't moving, and offered these tips: My Pricing Rules-of-Thumb 1. Pricing Gauge for Anywhere, Any Time, Any Market: If you are getting offers, then your list price is about right. If you are getting lookers but no offers,...