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...
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...
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:
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...
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...
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....
Around the coast, the housing stock is finite - there isn't any more room to build new houses. Whether they knew it or not at the time, everyone has bought their 'forever' home and aging-in-place has become the natural trend. The higher prices and rates have locked...
For those who prefer a single-level home and would like to peruse a curated group, check out this on-going collection of my favorite one-story homes for sale between La Jolla and Carlsbad here:...
Over the last few years there are two groups of buyers who have been left behind; the self-employed who have a tough time qualifying for a mortgage, and the contingent buyers because there have been enough non-contingent buyers that sellers would prefer. There hasn't...
People have wondered if the foreign buyers will have an impact on how this turns out. But that segment of the buyer pool isn't what it used to be, according to a recent report by NAR:...
