Billy is a minister and he married a couple back stage right before Saturday's show (I saw the photo), then cranked out a great set - here's how it started for those of you who missed it:
Billy Gibbons @ Blues Fest
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Month: September 2022
Summer Listings & Sales History
Chris asked how the current environment compares to the 2008 downturn. In the summer of 2008, there were only 601 NSDCC sales between June 1st and August 31st, in spite of there being 1,348 listings that summer. For the next two years, the number of listings far...
No Fuss
This Encinitas Ranch home was listed for $3,499,000 on March 29th - which was the week rates started going up - and had no price reductions. After 112 days on the open market, they found a buyer who closed in less than 30 days (Sept.12th) for $3,390,000 cash, which...
Estimating NSDCC Monthly Sales
The latest CPI number is out today, and the over-reaction will put more pressure on mortgage rates. They are probably going to be around the 6% range for the foreseeable future. Let's predict the NSDCC monthly sales count for the rest of the year. Today, we have 411...
There’s Hope For Contingent Sales!
We opened escrow today on my first contingent sale in 2+ years - where my buyer has to sell their home to purchase the subject property. There were two offers submitted - and BOTH were contingent upon selling another property! Thankfully, the house we're going to sell...
Inventory Watch
There were 31 and 38 new listings between La Jolla and Carlsbad in each of the last two weeks, which is incredible - the last time we had those numbers was in the beginning of January! As recently as 2019, the number of new listings in the middle of September were...
Mortgage-Rate Forecast
If rates would stay around 5% over the next four quarters, the market should digest it and get comfortable with the new era. But how reliable are these experts? After all, they are the mortgage business - shouldn't their forecasts be pretty close? Well, hmm, no:
Transparency is Appreciated
I had mentioned in the comments section that I showed a house on Labor Day that was priced at $2,195,000. The temperature was so hot that I literally said to my buyers that no agents would be working on the holiday, let alone writing offers, so we should have an easy...
San Diego County Inventory Very Low
Above, Bill shows how the number of new listings is dropping off in San Diego. Yes, in the top chart, there were 20.7% more active listings YoY because you can wrongly price a listing today. Last year, just about everything was selling, which is very unusual! In...
Plateau City in 2023
I said: 0% appreciation for NSDCC (La Jolla to Carlsbad) in 2023. Zillow says: +1.5% to +1.9% for NSDCC. Goldman Sachs says: -1% for San Diego. Moody's has San Diego County home prices changing –3.65% between now and the end of 2023, and then -2.9% by the end of 2024....
