Historical Photos, 2021
Some of the better historical photos I saw this year!
Some of the better historical photos I saw this year!
The year 2021 will be remembered as the year they tore down the Murph.
It opened in 1967 as San Diego Stadium, and then re-named Jack Murphy Stadium after the local sportswriter who helped build support for its construction. The surrounding area was fairly innocent at the time – for a short time in the 1980’s, I lived where homes were built in the bottom right, and used to walk to Padres games:
It was the only stadium ever to host both the Super Bowl and the World Series in the same year (1998), and it was one of three stadiums to host the World Series, the MLB All-Star Game, and the Super Bowl (along with the Metrodome in Minneapolis and Los Angeles Memorial Coliseum in Los Angeles).
This shot of the 1992 All-Star Game became one of the most iconic photos in local history, and ended up in the Baseball Hall of Fame:
The 2021 view from the same spot:
My favorite demo photograph – the scoreboard standing alone in an appropriately-unnamed stadium:
Here is epic drone footage of the final days:
The big-time concerts held at the Murph were legendary – we were there for the Eagles, and the last two:
The stadium hosted the Chargers and Padres, Holiday and Poinsettia Bowl games, SDSU football, rugby, high-school football championships, soccer, motocross, car races, the Super Trucks, used-car sales, American Idol, Billy Graham, and the Boy Scouts for their annual Scout Fair!
Natalie had a covid scare but tested negative four days in a row so she was able to join Kayla, Frank and us for Christmas weekend!
We appreciate those who include us in their search for the perfect home for the holidays – thank you!
Momentum going into 2022 is strong, given that the Over List percentage has gone up the last two months:
NSDCC Detached-Home Sales, % Closed Over List Price
The higher-end market had some bounce-back too:
Percentage Of Sales Over List Price by Price Range
|$0 – $1.0M|
|$1.0M – $1.5M|
|$1.5M – $2.0M|
|$2.0M – $3.0M|
The November sales were down 35% from last year, but the red-hot market of late-2020 is to blame. This year, the sales were more in line with previous Novembers:
NSDCC November Sales
NSDCC Average and Median Prices
The median sales price went up 11% in one month, and is $101,000 higher than the median list price!
The median sales price is 19% higher than it was in February, which was ten months ago.
It never fails – go golfing and sell a house!
I only golf 2-3x per year – we should go more often!
The Zillow 1-Year Forecasted Values are down 1-2 points from their previous guesses last month, but still very strong. This is their third consecutive month with similar forecasts:
For those who are steeped in real estate history, it’s hard to comprehend how prices could increase 25% to 30% this year – to think pricing could go up ANOTHER 20% next year is straining the brain!
I think it will happen, and be accomplished by mid-summer.
We’ll be in Tucson next month, and I’ll be doing my own investigation!
In 2021, single-family existing-home prices rose at the fastest pace in five decades at an average year-over-year pace of 18%, driven by strong job growth, historically low mortgage rates, a post-pandemic recovery in household formation, and inadequate housing construction and pandemic-induced supply bottlenecks. At the metro area level, the differences in price appreciation were heavily driven by job growth and by businesses and people moving into the area, especially among workers with the ability to work fully remotely.
Are there markets where home prices are still undervalued relative to the market fundamentals’ underlying home prices? In its latest report, 2022 Housing Market Hidden Gems, the National Association of REALTORS® identified the top 10 markets with strong underlying housing market fundamentals but where home prices are still undervalued and relatively affordable. As such, these hidden gem markets are expected to experience stronger price appreciation in 2022.
In alphabetical order, the hidden gem markets are as follows:
Read more here:
Those who still think we have a foreclosure event in our future are unfamiliar with how the rules have changed in California. There’s never been a better time to be a deadbeat:
The United States Department of the Treasury has approved California’s plan to provide $1 billion in mortgage relief, clearing the way for the California Mortgage Relief Plan to provide help to as many as 40,000 struggling homeowners, according to a statement from Gov. Gavin Newsom’s office. “We are committed to supporting those hit hardest by the pandemic, and that includes homeowners who have fallen behind on their housing payments,” Newsom said in a statement. “No one should have to live in fear of losing the roof over their head, so we’re stepping up to support struggling homeowners to get them the resources they need to cover past due mortgage payments.” California already has provided renters and landlords with assistance, he noted.
“Now, with our California Mortgage Relief Program, we are extending that relief to homeowners,” he said. The program will help homeowners make past due housing payments — to a maximum of $80,000 per household — by making a direct payment to the mortgage servicers.
The funding, which is allocated through the federal American Rescue Plan Act’s Homeowner Assistance Fund, is provided as a one-time grant that qualified homeowners will not be required to repay. Californians at or below 100% of their county’s area median income, who own a single-family home, condo or manufactured home, and who faced pandemic-related hardships after Jan. 21, 2020, may be eligible for the program. Applicants can visit the California Mortgage Relief Program at CaMortgageRelief.org for more information. Online applications will soon be available.
Read more at:
NSDCC tidbits as we roll into Christmas:
Pricing will feel significantly higher next year!
A great turnout over the weekend – look out 2022!