This is our third look this year at a house in the Ranch of Carlsbad – the other two closed over $4,000,000 (one famously at $1,000,000 over list). This property didn’t sell in the first month, probably due to the interior looking somewhat original and in the Ranch – where lots are at least a half-acre – buyers expect more usable yard. The listing went live on April 7th at $3,400,000, they lowered it a month later to $3,250,000, and then it went pending on May 27th. It closed three weeks later for $3,175,000, which is a modest 2% discount off list.

Jim Klinge
Klinge Realty Group
Broker-Associate, Compass

Are you looking for an experienced agent to help you buy or sell a home?
Contact Jim the Realtor!
- 682 S. Coast Hwy 101, Suite #110
Encinitas, CA 92024 - (858) 997-3801 call or text
- klingerealty@gmail.com
CA DRE #01527365, CA DRE #00873197
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SDSU assistant Chris Acker just made us aware on @JonAndJim that over 50 former Aztecs that played for Steve Fisher and Brian Dutcher will be at the Final Four on Saturday. What an incredible bond.
Because few people service a mortgage for all 30 years (they get divorced, refinance, move or die), mortgage rates are compared to the 10-Year Treasury Note.
While Treasury yields have fallen, mortgage rates are stuck in the mid-6% area.
Huge spread vs. 10-year = 304bps.
Total Number of NSDCC Actives & Pendings:
June 13: 354/202
June 16: 370/180
June Sales, MTD: 90
Hi Jim-
Are you still seeing multiple offers in any market segments? Or has the frenzy really calmed overall? Here in Raleigh some Realtors are still seeing strong demand, others seeing what you’ve been writing about: longer (than last year anyway) days on market, and some price reductions- which personally I attribute largely to sellers just figuring out how much they can push, rather than a fundamental market softening. We still have very low inventory, good absorption and lots of people moving here. And the rates have been high long enough now to get some indication if they’re going to have a broad effect or not.
Thank you as always-
Shawn
We offered $2.0 on a $2.15 and lost yesterday, and my last two listings (in May) both got three offers each. I have two listings coming up that will be a great test – stay tuned.