Jim the Realtor
Six-Months Supply of Inventory
We've heard of the metric that measures the supply and demand in residential real estate sales. Lance called it the key housing metric going into 2025, but he is suspicious of its accuracy: A rule of thumb in real estate is that anything below a 6-month supply of...
$108 Million in La Jolla
The seaside mansion known as the "sandcastle" estate hit the market Tuesday for a whopping $108 million. The architectural wonder was designed to resemble the Chateau de Versailles. This is two doors down from the Marine Room so you know the types of waves that can...
Encinitas Single Story
? In February, these sellers bought our listing in Aviara Point for $3,365,000. They moved, then just sold this beach-close newer one-story with killer garage. They made out good too: Bought 10/17/22 for $2,900,000 Sold 10/22/24 for $3,500,000
Eminence Front
? It was on this tour in 1982 that I saw the Who at the L.A. Sports Arena. It was the loudest concert I've ever attended, and my ears were ringing for a week - and I was in the back! Whoops it wasn't the 1982 tour. It was the 1980 tour that I saw - look at the...
More Sales To Follow?
If there is a surge of inventory next year, will sales increase too? Yes, probably. There have been 6% more sales this year. Oh - but there were 15% more listings. Hmmm it sounds like not every seller gets out. We could be set up for an old-fashioned price war, where...
Inventory Surge in 2025?
There are several reasons why I think the local inventory will surge in 2025. It will be due to several causes contributing more houses for sale, and all combined it may look like a flood in some areas. Been Trending That Way in 2024 - The inventory this year has been...
Mortgage Rates Jump
By the smallest of margins, mortgage rates are back up to levels last seen in July. That means we've gone from being fairly close to 6% in mid-September to being nearly as close to 7% today when it comes to top tier 30yr fixed scenarios for the average lender. Today's...
Open-House Report
The activity this weekend was about what I expected for the middle of October, 2024. Happy to report that the political circus has been less of a distraction recently, and hopefully the real estate market will feel a bit of a boost from those who are motivated to move...
Inventory Watch
It would be natural to expect the number of active listings to be declining by now, but sellers are still hopeful. Of the 470 actives, there are 113 of them that have been on the market for 90+ days too (24%). Those don't have much chance of selling this year without...
