Now that we are grappling with 5% mortgage rates, people are wondering how it will affect the market. The common perception is that there will be pullback. What that means isn't defined - it's just a vague concept that the logical mind wants to believe. But logic...
From yesterday's article, which also ran in the SDUT today: “There are so many strange things going on right now,” said Edward Seiler, the associate vice president for housing economics at the Mortgage Bankers Association. It has been 40 years since rates have risen...
The 2022 inventory is off to a slow start - and I don't expect it to improve much, in spite of record pricing: Year # of 1Q Listings Median List Price 2018 1,230 $1,592,500 2019 1,277 $1,575,000 2020 1,082 $1,712,500 2021 985 $1,899,000 2022 682 $2,575,000 The 682...
Well, the way it's been going, it was bound to happen! At least this house was fully remodeled, had a guest house (with double-tap kegerator!) and large pool all laid out nicely on a half-acre lot in the Ranch. This is the one I featured previously with the dozens of...
Check out our new listing in Carmel Valley! 13010 Brixton Pl., Carmel Valley 92130 3 br/2.5 ba, 1,804sf YB: 1989 LP = $1,750,000 Location is everything! Enjoy this end-of-culdesac gem that is just steps from Torrey Pines High School (so close you won't need to buy...
Everyone is worried about rising rates, and their impact on the future of the market. The combination of higher rates AND higher prices is dramatic when compared to just a year ago. Here is a comparison between the NSDCC closed sales between Feb. 1st and March 29th:...
Donna asked what sellers might think about his video. I hope they think that old Jim the Realtor is tracking the market closer than anyone and would be the ideal listing agent because of how he is able to utilize this research to take advantage of the market at hand:
Alternative headline: "Four areas so affluent that home prices and incomes are completely disconnected." Comparing the median sale price to house-buying power in all top 50 markets reveals that 4 markets are considered "overvalued". "Overvalued" is defined by a market...
The NSDCC detached-home stats in the Jan 1st-to-March 15th period are remarkable: Year New Listings # of Sales Median List Price Median Sales Price Median DOM 2016 1,194 436 $1,146,450 $1,102,792 58 2017 1,040 459 $1,239,500 $1,200,000 53 2018 1,102 420 $1,327,000...
Numerically, the inventory isn't getting any better yet: NSDCC New Listings between March 1-15: 2018: 228 2019: 277 2020: 221 2021: 199 2022: 120 There will be a few more added to this year's total but the homedemic continues - without additional inventory, the market...
