This just hit the market and will be a good one to watch. It's the least-expensive house for sale west of I-5 in Solana Beach, and it's in a quiet little stretch only a block from the beach access and walking distance to everything in downtown SB! Asking $2,395,000 -...
By the end of today, the 30-year mortgage rate should be in the mid-6s - who would buy a house now? Between higher prices, higher rates, and the hefty federal and state capital-gains tax, the move-up/move-down homeowners are effectively locked in to their existing...
The frenzy wasn't going to last forever. Coming off the initial covid months, everyone thought the red-hot market was an acceptable reaction to the way our world had changed. But it's gone too far, and somebody had to do something - and the Fed is going to do it...
As you can see in my mortgage-rate tracker (in right column), we had another meltdown today, and the conforming rate now is over 6% (with no points). The idea of paying higher prices AND rates really discourages the move-up/move-down markets. Combined those with...
The number of active listings keeps climbing, which is expected. The likelihood of getting the list price wrong has probably never been higher, given that sellers have been planning their move for months - and they are going to test it out to see if they can get...
Are you wondering if our local housing market could maintain current pricing - or even go higher? It's possible, and if it happens, a major reason will be baby boomers pitching in to help their kids buy a home. Compare the 2018-2022 era to what's expected to happen...
With mortgage rates blowing through the fives and another Fed meeting coming up on Wednesday, I think we can declare that the frenzy is over. Or at least we can expect that it's over in the buyers' minds. But one fact remains the same: There still isn't anything to...
I picked a great day to start the mortgage-rate tracker in the right-hand column! >>>> Mortgage rates haven't been in the 6% range since 2008: How many agents have operated in a 6% environment? It will be less than half of the active agents today. To...
Here are graphs that look generally supportive of the local market. The SP:LP is still well above 100%, though hopefully it will keep receding. Everyone should be happy with it running around 100% or a little under, like it has throughout the history of real estate:...
This film was taken on May 25th, a month after mortgage rates hit 5%. I can't wait to hear from the doomers who swear that because sellers had to take a whopping $50,000 haircut off the list price to sell this house to cash buyers who closed in two weeks (with sellers...
