How bad could it get? What else could happen? The market could deteriorate into a cash-only environment, where the buyers and sellers who can avoid mortgages altogether are the only players left. If mortgage rates get into the 7s and 8s, the temptation for financed...
Ok, ok you want to downsize but you don't want to bake in the desert - plus you like living in San Diego. Aren't there any newer, smaller choices around here? Lennar has purchased three local golf courses and are on their way to building them out. The development of...
There are only 88 pending listings today, which means we are unlikely to get up to 100 sales between La Jolla and Carlsbad this month. How radically different is that? Here's how this month will compare to the previous Januarys of interest: NSDCC Detached-Home...
The #1 reason that the real estate market has been in the doldrums over the last few months is because of the inept response from realtors on how to handle it. There hasn't been ANY real guidance or advice coming from NAR and other industry leaders on what to do,...
No surprise that our new listing found a buyer already. The one-story homes with all the extras are probably the most attractive buys in the marketplace, and anyone can sell these - it's just a matter of who can get what price. I had 200+ people attend the open houses...
I had another 80+ people attend my open house on Sunday, and a total of more than 200 people for the weekend. Virtually everyone who came was older, and the overwhelming message was that the buyer pool for one-story homes is large and they are hungry for product. We...
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...
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:...
It's probably true that seniors are leading healthier, longer lives and will prefer to age-in-place - which will keep a limit on the number of homes for sale and temper any downdraft in pricing. What is worse is that the resulting back-up will cause others to stay in...
