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One-Story on Acre Lot


This listing hit the open market on April 18th, which was long after mortgage rates had gotten into the 5s.  It went pending in the first ten days, but then it fell out of escrow three weeks later.  By then, the doomer talk had escalated and reviving the market urgency would typically be more of a struggle.

They stuck with the $3,995,000 list price though, and another buyer snatched it up the next day and closed in two weeks at a slight discount of $3,850,000 cash:

There might be some turbulence in the marketplace being caused by the incessant doomer talk, but I haven’t seen any quality homes having to sell at a big discount yet.

Encinitas Big Bomber

This is the only other sale located on the Encinitas Ranch golf course that might be considered a comparable sale, but it’s a completely different offering.  The house has 5,200sf with pool on a half-acre lot – with no threat of golf balls hitting you while in the backyard.

My buyers thought the price – which was more than a million dollars higher than my sale – was aggressive and not worth it. But as we have seen throughout the coastal region, a cash buyer stepped up and paid the full $4,785,000 price for it seven days after the listing was refreshed:

It closed escrow yesterday, so it’s doubtful that Zillow – or any buyers – would use it when evaluating homes in regular Encinitas Ranch. But if they did, they would be radically over-valuing the more standard tract houses there!

https://www.compass.com/listing/1202-via-zamia-encinitas-ca-92024/1012366247845475561/

Olivenhain 2 Acres With View

This was the Private Exclusive off-market listing that hit our intra-office website late in the afternoon and literally the next day most of the top Compass agents and me rushed over there to check it out.

Both buyer and seller take a gamble on price when transacting off-market. Since this was filmed, two sales on Rancho Encinitas Drive have closed for over $4,000,000, so this buyer should be happy with their $3,230,000 purchase price here (which was $405,000 over the list price).

MCM Original

A remarkably original mid-century modern on an acre in Del Mar.

It listed for $2,400,000 on February 26th, then the price was raised to $2,900,000 on March 8th when marked pending. The final sales price was $2,800,000:

365 Marine Street, La Jolla

It is a true honor to have listed for sale my favorite home of all-time!

365 Marine St., La Jolla

3 br/3.5 ba, 2,894sf

YB: 2018

LP = $6,950,000

This custom contemporary was designed and carefully-crafted for over three years to be the ultimate beach house just 100 yards from the sand! The main living area has floor-to-ceiling glass panels that open dramatically to create the perfect indoor-outdoor experience with breath-taking 180-degree ocean views over Marine Street beach! The interior is loaded with so many custom features that they make this home downright sexy! Ample off-street parking and an easy walk to the village too. Architect Mark Morris said in his 20+ years of designing super-custom modern-contemporary homes in the area, this is his favorite project of all-time. The ultimate in modern contemporary design – it’s a trophy property!

https://www.compass.com/app/listing/365-marine-street-la-jolla-ca-92037/1050797924033993089

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