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The Last Move

Are you of the age (40+) where you might move one more time?  Here are my resources to assist you.

Reasons to move again:

  1. Be closer to family (primarily to be near the grandkids).
  2. Change from two-story to one-story home.
  3. Better neighborhood for you.

Being closer to family, and especially to be near the grandkids, is high up the list of reasons for seniors to move. Not only will it be easier for you to get some help from them as you grow older, but they will appreciate the free babysitting and help around the house!

If that means you will be leaving San Diego County, then Donna is the best at finding a quality agent in your new neighborhood.  We are part of two different agent networks, and she will screen agents from those and make a recommendation. Cut & paste her email: donna@klingerealty.com

Are you thinking about buying a single-level home around here?

I input the best one-story homes from the MLS into my public collection here – it might ask you to sign-in but I promise I won’t call you every day until you buy or die:

Link to Jim’s Favorite One-Story Homes For Sale

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If you want to buy and wouldn’t mind getting a reverse mortgage with no monthly payments, then Dean Jones is your guy. There are other private lenders that can do larger amounts but they cost more and the lenders want a piece of the equity – Dean only does government-backed FHA reverse mortgages:


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You may already be in a terrific neighborhood, but it may not be the best for you at this age.  There are several active communities for those who are 55 and older – both for sale and for rent. Some examples:

https://www.oceanhillscountryclub.com/

https://aubergecommunity.org/

https://www.portolaseniorapts.com/

I can help you with the ones that are for sale.

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If time got away from you, and now a senior facility is needed, then one of the most popular websites to search for alternatives around the country is A Place For Mom.

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We just had a fantastic experience with seniormovemasters.com in San Marcos. They moved the belongings and set them up in the new home for $1,000!

If you need senior-moving help in other areas of the country, then check the website of the National Association of Senior Move Managers:

Link to NASMM website

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If you need to donate stuff to a good cause, rather than move it to your next home, then Rancho Coastal Humane Society is a good option because they take most everything.

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Hauling the remainder, including mattresses, can be done by Junk King in Carlsbad.

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One more thing – if you are thinking about giving your house to your kids, read this:

House Gift To Kids

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This is my first draft, and I’ll add more as time goes on. I’d love to hear your suggestions!

Inventory Watch

We’ve already had 312 closings this month, yet the total number of pendings is the same as it was at the beginning of August – which means we’ll have another big month of closings in September!

Yet we haven’t had a surge of new listings – homeowners are happy where they are…..for now.  Next year should be the most exciting real estate market in the history of the world!  If you are thinking about getting into the business – or if you are a realtor thinking about changing brokerages, do it now and be ready for 2021.

(more…)

Carlsbad Seaport w/Guest House

Our new listing in SW Carlsbad!

7206 Durango Circle, Carlsbad

4 br/3 ba, 2,699sf

10,769sf lot

No HOA

LP = $999,000 – PENDING (we represent the sellers)

Nicely renovated one-story 3br home with attached guest house in very private setting located near everything – all for $999,000!

Hardwood floors, stainless kitchen, massive walk-in closets, two fireplaces, central A/C, and it’s tucked away in a culdesac-like spot off the beaten path. No HOA, & no power lines. On the map it looks close to El Camino Real, but it is remarkably quiet. Master br down, & master up (in guest house). Great for multi-gen, work-at-home, distance learning, etc.

https://www.zillow.com/homedetails/7206-Durango-Cir-Carlsbad-CA-92011/16657345_zpid/

Seniors Moving

The final move-out is underway at Picadilly.

Olga left for good yesterday, and was greatly assisted by seniormovemasters.com, who provided an invaluable service in helping set up the new home with all of her prized possessions.

The Rancho Coastal Humane Society was also very helpful today with clearing out the stuff not worth keeping, which ended up being a larger pile than when we first started – as it is for most sellers:

I have many pieces now for my seminar on seniors moving. Stay tuned!

North County Appreciation 2006-2020

Our San Diego Case-Shiller Index is 10% above the previous peak of November, 2005.

But that covers the whole county, so it made WC Varones speculate that the appreciation in NSDCC was higher – as much as 30% to 40% above peak.

Our peak was later, so I searched the 2006-2007 time frame for tract homes so the second sale probably wasn’t a result of a major remodel. The sellers may have added new carpet & paint, or maybe a pool. But for the most part, they were selling the same home that they bought.

Here are examples:

Address
Previous Sale Price/Date
Recent Sale Price/Date
% Diff
3303 Corte Del Cruce
$932,500 – 5/11/07
$1,210,000 – 10/21/19
+30%
3313 Avenida Anacapa
$955,000 – 7/11/07
$1,427,000 – 7/1/20
+49%
3638 Sage Canyon
$970,000 – 4/20/07
$1,342,000 – 2/6/18
+38%
3411 Camino Corte
$975,000 – 7/10/07
$1,215,000 – 7/29/20
+25%
1186 Quail Gardens
$995,000 – 6/7/06
$1,296,000 – 8/14/20
+30%
3210 Avenida La Cima
$1,100,000 – 5/29/07
$1,388,000 – 6/21/19
+26%
7574 Circulo Sequoia
$1,167,500 – 6/12/07
$1,475,000 – 6/14/19
+26%
511 Paloma
$1,200,000 – 5/11/07
$1,400,000 – 4/9/19
+17%
13056 Seagrove
$1,200,000 – 6/1/06
$1,662,000 – 4/1/20
+39%
5816 Blazing Star
$1,250,000 – 4/25/07
$1,650,000 – 9/11/18
+32%
2433 7th St
$1,350,000 – 4/23/07
$1,785,000 – 3/5/19
+32%
4475 Philbrook Sq
$1,440,000 – 6/28/06
$1,850,000 – 7/2/19
+28%
13689 Winstanley
$1,037,000 – 11/5/07
$1,380,000 – 6/3/20
+33%

The average is +31%!

The last entry on Winstanley is the home I sold in June, and I’ll never forget it.

The seller – who had been reading the blog – had told me when he bought it in late-2007 that he expected to lose $100,000 but he wanted to make his wife happy.  I told him to hang in there, and let’s see how it goes!

San Diego Case-Shiller Index, June

I’ve been pedaling so fast these days, I forgot all about the Case-Shiller Index on Tuesday:

San Diego Non-Seasonally-Adjusted CSI changes:

Observation Month
SD CSI
M-o-M chg
Y-o-Y chg
January ’19
251.30
-0.2%
+1.3%
Feb
253.69
+0.9%
+1.1%
Mar
256.40
+1.1%
+1.2%
Apr
257.63
+0.5%
+0.8%
May
260.08
+1.0%
+1.1%
June
261.90
+0.7%
+1.3%
July
263.66
+0.7%
+2.0%
Aug
263.23
-0.2%
+2.3%
Sep
263.26
0%
+2.8%
Oct
262.56
-0.2%
+2.7%
Nov
263.18
+0.2%
+3.9%
Dec
263.51
+0.1%
+4.7%
Jan ’20
264.04
+0.2%
+5.1%
Feb
265.34
+0.5%
+4.6%
Mar
269.63
+1.6%
+5.2%
Apr
272.48
+1.1%
+5.8%
May
273.51
+0.4%
+5.2%
June
274.91
+0.5%
+5.0%

The corona might have slowed down pricing a tad, but with the ultra-low rates, we should be back to 1.0% monthly increases over the next few readings.

Extra Cheese For Your Bubble

We kind of assumed they would have to keep rates low, but now it’s official:

The Federal Reserve announced a major policy shift Thursday, saying that it is willing to allow inflation to run hotter than normal in order to support the labor market and broader economy.

In a move that Chairman Jerome Powell called a “robust updating” of Fed policy, the central bank formally agreed to a policy of “average inflation targeting.” That means it will allow inflation to run “moderately” above the Fed’s 2% goal “for some time” following periods when it has run below that objective.

The changes were codified in a policy blueprint called the “Statement on Longer-Run Goals and Monetary Policy Strategy,” first adopted in 2012, that has informed the Fed’s approach to interest rates and general economic growth.

“Many find it counterintuitive that the Fed would want to push up inflation,” Powell said in prepared remarks. “However, inflation that is persistently too low can pose serious risks to the economy.”

Link to CNBC Article

NSDCC August Sales – Preliminary

We still have four days to go this month, so it looks like we’ll be setting new monthly sales records again, just like last month (even with a covid asterisk):

Town or Area
Zip Code
# of Sales, 2019 
Median SP
# of Sales, 2020 (so far)
Median SP
Cardiff
92007
11
$1,375,000
13
$1,625,000
NW Carlsbad
92008
23
$985,000
20
$1,094,500
SE Carlsbad
92009
37
$1,107,000
47
$1,165,000
NE Carlsbad
92010
6
$807,500
7
$955,000
SW Carlsbad
92011
19
$1,100,000
20
$1,072,500
Carmel Valley
92130
47
$1,310,000
29
$1,362,500
Del Mar
92014
15
$2,100,000
11
$1,720,000
Encinitas
92024
46
$1,492,500
37
$1,545,000
La Jolla
92037
36
$2,474,000
33
$2,015,000
RSF
67+91
19
$3,100,000
30
$2,762,500
Solana Beach
92075
9
$1,900,000
5
$2,275,000
NSDCC
All Above
264
$1,354,500
247
$1,400,000

I don’t have too much concern about changes to the median sales prices due to the smaller sample sizes, and I doubt there are any buyers out there who would say prices are down.

Last year we had 56 sales over the last four business days of August, so we’ll probably see 300+ this month when it’s all done. Will sales slow a bit towards election day? Only if the supply winds down?

One-Story Plus Guest House

Our new listing in SW Carlsbad!

7206 Durango Circle, Carlsbad

4 br/3 ba, 2,699sf

10,769sf lot

No HOA

LP = $999,000 (we represent the sellers)

Nicely renovated one-story 3br home with attached guest house in very private setting located near everything – all for $999,000!

Hardwood floors, stainless kitchen, massive walk-in closets, two fireplaces, central A/C, and it’s tucked away in a culdesac-like spot off the beaten path. No HOA, & no power lines. On the map it looks close to El Camino Real, but it is remarkably quiet. Master br down, & master up (in guest house). Great for multi-gen, work-at-home, distance learning, etc.

https://www.zillow.com/homedetails/7206-Durango-Cir-Carlsbad-CA-92011/16657345_zpid/

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