by Jim the Realtor | Jan 4, 2025 | Where to Move |
For many workers, retirement represents an opportunity to reinvent themselves.
“A lot of people feel, well, my job is done, and this is my opportunity to have some fun,” says Dr. Gary Small, chair of psychiatry at Hackensack University Medical Center in Hackensack, New Jersey. He adds that a change of scenery often adds to that sense of fun.
While some retirees travel to explore new places, others want to make a permanent change. With no job tying them to a specific location, they may decide it’s time to move somewhere that offers better weather, more activities or a lower cost of living.
Before you make the move, consider these tips for finding the right place to retire:
- Reflect on your preferences.
- Understand your income and expenses.
- Talk to your family.
- Check the weather.
- Know how you’ll get around.
- Find out your health care options.
- Consider the political climate.
- Look into social activities.
- Calculate your taxes.
- Try renting first.
Read full article here:
https://money.usnews.com/money/retirement/boomers/articles/tips-for-finding-a-great-place-to-retire
A book to consider:
https://rowman.com/ISBN/9781442216181/The-Retirement-Maze-What-You-Should-Know-Before-and-After-You-Retire
by Jim the Realtor | Jan 3, 2025 | 2025, Year-End Review, Zillow |
The Zillow guesses on local appreciation over the next 12 months have gotten more optimistic.
I added their previous guess from November in paratheses next to the zip codes, and the change in their typical home value over the last 12 months (in green). In 2024, the actual was far better than their guesses!
NW Carlsbad – 92008 (+0.2%)
Last 12 months: +5%
SE Carlsbad – 92009 (+2.4%)
Last 12 months: +6%
NE Carlsbad – 92010 (+0.3%)
Last 12 months: +6%
SW Carlsbad – 92011 (+0.2%)
Last 12 months: +5%
Carmel Valley – 92130 (+0.5%)
Last 12 months: +9%
Del Mar – 92014 (+1.9%)
Last 12 months: +6%
Encinitas – 92024 (+0.2%)
Last 12 months: +4%
La Jolla – 92037 (+1.8%)
Last 12 months: +3%
Rancho Santa Fe – 92067 (+0.4%)
Last 12 months: +6%
by Jim the Realtor | Jan 2, 2025 | 2025, Why You Should List With Jim |
Is having more homes for sale a big deal? The local market has survived everything else, though they were all at lower price points.
If price adjustments are needed, what can we expect?
I’ve mentioned how my recent listing in La Costa Oaks got caught up in price war. A month before the election, there were 10-12 active listings nearby in the low-to-mid $2,000,000s.
I wasn’t willing to lower my price. Why? Because the price wasn’t the problem – it was that the house and yard had defects, and when that happens I’d rather fix those first, and then talk about price.
I got lucky and we received a low offer of $2,350,000. When it came time to entertain our counter of $2,450,000, the buyers stuck to their original $2,350,000 and said no more. We countered again at $2,400,000, and they came around and accepted.
The closest other active listing had hit the market at $2,525,000 a couple of weeks before us – but they lowered their price to $2,455,000 a few days before we came on. And they kept lowering!
This is how it turned out for them:
This is what we can expect going forward.
There is a natural range of around 10% to 15% between the creampuffs and fixers. When there are several choices, buyers may try to pick up a creampuff for a fixer price. Some might get lucky.
We have NEVER seen a market like this, where the sellers have gained so much equity so quickly – about +60% in the last five years. The sellers of Sitio Lima paid $1,059,500 when new in 2005, and they had not hit the housing ATM to refinance a big cash-out (loan was under $300k). I don’t know what made them so motivated, and it doesn’t matter. They had a load of equity, and if it was time to sell, then it’s time to sell – bring any and all offers!
Expect the sales prices of similar tract house to be in a ~10% range in 2025.
Get Good Help!
by Jim the Realtor | Jan 1, 2025 | 2025, Inventory, Jim's Take on the Market, Market Surge |
In 2024, we had more drama than usual. The Big Three:
- Hotly-contested election.
- Commission debacle.
- Mortgage rates that were supposed to come down, but didn’t.
Any one of those could have derailed the real estate market, but instead we survived just fine:
NSDCC Annual Counts, 2023 vs. 2024
With the drastic drop in inventory since covid, it seemed to make sense that the market could handle an extra 15% to 20% homes for sale.
Indeed – there were 14% more homes for sale, and sales AND pricing increased 9%!
The number of active listings at the start of 2024 was about the same as it was to begin 2023. However, we’re starting 2025 with 16% more actives already, and I expect an early surge. We could easily have 400+ NSDCC homes for sale by the end of January.
Can our local market handle 15% to 20% MORE homes for sale on top of what we had in 2024?
We’re going to find out!
Happy New Year!
by Jim the Realtor | Dec 31, 2024 | 2024, About Kayla, About Natalie, About the author |
Just before Natalie danced the last show of the sold-out Karol G World Tour at the 78,000-seat Santiago Bernabéu Stadium in Madrid, Spain
The Restaurante Botin, the oldest restaurant in the world (since 1725).
A test to see if my new iphone flips the text on a selfie – it does!
Half-day bike ride
Entrance to the San Diego Zoo!
2024 Final Score: 621 blog posts and 47 sales closed – thank you!
We are immenesly grateful for you being here, and allowing us to assist you with your real estate needs!
by Jim the Realtor | Dec 31, 2024 | Same-House Sales |
The local market has been so hot since the election that the second-half losing streak may end prematurely, instead of declining through the rest of 2024.
I already said +5% for next year’s NSDCC appreciation, and all of it to be in the first quarter.
San Diego Case-Shiller Index
“New York once again reigns supreme as the fastest-growing housing market with annual returns over double the national average,” says Brian D. Luke, CFA, Head of Commodities, Real & Digital Assets. “Two markets have dominated the top ranks with New York leading all markets the past six months and San Diego the six months prior. New York is the only market sitting at all-time highs and one of just three markets with gains on the month. Accounting for seasonal adjustments shows a broader rally across the country.
“Our National Index hit its 17th consecutive all-time high, and only two markets – Tampa and Cleveland – fell during the past month,” Luke continued. “The annual returns continue to post positive inflation-adjusted returns but are falling well short of the annualized gains experienced this decade. Markets in Florida and Arizona are rising, but not keeping up with inflation, and are well off the over 10% gains annually from 2020 to present. This has allowed other markets to catch up.
“With the latest data covering the period prior to the election, our national index has shown continued improvement,” Luke continued. “Removing the political uncertainly risk has led to an equity market rally; it will be telling should the similar sentiment occur among homeowners.”
by Jim the Realtor | Dec 30, 2024 | 2025, Inventory, Jim's Take on the Market, Market Surge |
We’re going to start the new year with about 17% more houses for sale than we did in 2024. They will be joined by other failed listings from the past, and the inventory will most likely be rising faster than normal.
The first inventory count of 2024 was 255 homes for sale on January 2nd, and that number was 22% higher by the first week of February.
If the 2025 inventory grows about the same or a little faster, it means there will be 375-400 homes for sale by the end of February. It will be VERY EARLY in the season to have that many homes for sale already! We didn’t get to 400 until mid-May of this year!
Personally, though we are expecting a fast start in 2025, we aren’t going to publish our first home for sale until January 9th. It will begin a six-week stretch where we will be rolling out a new listing every Thursday!
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
My Reasons Why NSDCC Inventory Will Surge in 2025:
1. Been trending that way – there has been 15% more NSDCC homes for sale this year than in 2023.
2. More listings have been cancelling this year than in Q423. They’ll be back!
3. Prop 19 was fun while it lasted – more of those who inherited a home will want to cash out.
4. Credit card debt is over $1 trillion for the first time. More current homeowners will lighten the load by paying off all their bills and downsize to cheaper home (probably out of state).
5. The affluent fleeing the country – if you have nothing tying you down here, then there are other choices.
6. The 5th anniversary of Covid is a few months away. Those who put off moving can go ahead now!
7. California politics drives people away. Gav’s $25 million to fight Trump? Might be the last straw for some.
8. I don’t have the statistics but more baby boomers should be shuffling off this mortal coil.
9. We’re all older – if you’re going to move, do it while you still can, physically!
10. Covid buyers with life changes – Flush with equity, they can sell and buy a better house.
(more…)
by Jim the Realtor | Dec 29, 2024 | Historic Homes, La Jolla |
La Jolla Cove Bath House 1914
Green Dragon Colony at La Jolla Cove began in 1894
La Jolla Shores 1928
Two women putting at La Jolla Country Club about 1930. Automobile is a 1929 La Salle Dual-Cowl Phaeton. Clubhouse in left background.
https://en.wikipedia.org/wiki/Green_Dragon_Colony_site
by Jim the Realtor | Dec 28, 2024 | Where to Move
Get in on the next boom – move to Arkansas!
Link to Zillow homes for sale in Magnolia
by Jim the Realtor | Dec 28, 2024 | About the author, Del Mar |
My good friend Kerri Klein called to alert me to this book, which was written by a local realtor who worked at Jelley & Co. in Del Mar. The names are changed to protect the guilty, but it’s easy to figure them out.
I’m only 75 pages into it, but it is great reading for those who remember.
We worked for Patti Jelley in the La Jolla office, while Joe Jelley ran the legendary flagship office next to Bully’s in the heart of Del Mar. Joe is still with us at 87 years old and living in Del Mar!
My best memory was when a couple of big-ish sales pushed me onto the leaderboard in late 1986.
Joe gathered us around for an end-of-year awards ceremony, and he had made a deal with a local furrier. My third-place finish was enough to win an award – a fur made of possum! Thanks Joe!
https://www.pandoraslockboxbook.com/
