3 Comments

1. 

   Sarah on July 2, 2023 at 7:41 am

   Long time reader here. Thanks for all the advice. I have to ask ~ who exactly is buying? Locals? Bay Area people? Out of state buyers? It seems every house in north county is selling to cash buyers and we can’t help but feel defeated before we even start looking again.

2. 

   Jim the Realtor on July 2, 2023 at 11:31 am

   There have been 140 NSDCC detached-home sales in June (so far), and 37% of those were cash buys – so yes, a fairly dominant trend.

   The top agents want to sell their listings to fellow top agents so they don’t have to worry about them closing.

   You’ve probably seen the listing agents who only counter the ‘top three’ or who counter only the ‘serious buyers’? It’s their code for insider trading, and excluding others they don’t know.

   I can help you if needed.

3. 

   Old School on July 2, 2023 at 2:29 pm

   NSDCC is an area of only haves and have nots now. The middle class is shrinking. I feel your pain Sarah. Stock options, inheritances and home equity have of existing owners are the driving factors. Making $200 to $300k and trying to save 10-20% for a down payment is nearly impossible while renting in San Diego County. It will take nearly a decade to save for a down payment of $200-$300k at that income level. Thus, here come the Bay Area hodads and spoiled next generation New Yorkers with their EV cars, superior attitudes and newly bought foam surf boards.