Market Evidence

by | Nov 29, 2023 | Bubbleinfo TV, Carlsbad, Why You Should List With Jim | 1 comment

Here’s the tour of the Solana Beach listing from last night:

Nobody is giving away the premium properties. The more premium, the more buyers!

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I should do more follow-ups on listings seen here previously for market calibration:

This RSF view estate sold for $23,500,000 full price cash in five days.

The Solana Beach fixer that listed for $1,995,000 did close escrow for $1,960,000:

Our listing in Terramar closed escrow for $2,440,000 with a 1031 buyer from LA:

Buying the superior properties for a fair price is something Charlie Munger would say!

One-Story, Newer, Price

by | Nov 28, 2023 | 1-story, 2024, Bubbleinfo TV, Carmel Valley, Del Mar, Solana Beach | 0 comments

Michele and I cruise around twice a week looking at the new listings.

I love it because I get to pontificate about the business and give her guidance like a good broker should.

She asks many great questions, and today was no exception. She had read the blog post from 2009 where I said agents should know the hot buys. She asked about the definition of a hot buy.

Today there is an easy formula to identify a hot buy:

If the number of Zillow Saves is 5% or more of the Zillow Views, it is a hot buy.

If the Zillow Saves are 7% to 10% of the Zillow Views, grab your checkbook – because it is sizzling hot.

Of course, now that I’ve divulged my tip, a few agents will manipulate the counts so if the listing agent is a known scumbag, then don’t trust their counts. You know who the scumbags are, don’t you?

We came up with another idea too.

If the house is one-story, newer, and the price is attractive, it’s a hot buy. But then we went one better.

If the house has two of the three (one-story, newer, attractive price), it’s probably a hot buy anyway.

If the list price is attractive, that is enough to power any sale, but if the price is attractive and the house is either one-story or newer it will probably be a hot buy. In 2024, a newer one-story house doesn’t even need to have an attractive price – there are so few of them that they can ask anything they want.

We saw three houses for sale today that will demonstrate my theorem. All are one-story homes that have been improved and should appeal to the maximum number of buyers – especially the seniors who have the money and will only consider a renovated one-story in a good location with some view:

For those who desire a full ocean view from both the family room AND the primary suite and can live with 1,620sf built in 1986 on a smaller lot in Carmel Valley, you can’t do much better than this for $2M:

https://www.compass.com/app/listing/13384-pantera-road-san-diego-ca-92130/1443561425642687169

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If you want a fully-renovated one-story house just east of the freeway in Solana Beach that overlooks the golf course, then this would be worth a look:

https://www.compass.com/app/listing/332-santa-helena-solana-beach-ca-92075/1451069101991133209

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Want to step it up and buy a brand-new 4,194sf one-story house with ADU in a prime Del Mar location with ocean view – and price is no object? Then this is for you, priced at $16,995,000:

https://www.compass.com/app/listing/355-bellaire-street-del-mar-ca-92014/1447350924812111265

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Why would these three list for sale now instead of waiting until next year? Well, I can’t help you with that. It is the most lucrative time ever for buyers to pause during the absolute peak wait-and-see period of all-time.

So if 1-2 of these go pending by the end of the year, it will show that the premium properties are always hot – and I wouldn’t be surprised if they all sell.

SW Carlsbad Entry Level

by | Oct 30, 2023 | Bubbleinfo TV, Carlsbad | 1 comment

This was listed for $1,438,000 at the beginning of March, but no takers. They lowered the price to $1,398,000 after two weeks, and then moved down to $1,349,000 a week later (which usually means they weren’t getting any traffic, let alone offers). By the end of May, it still wasn’t sold.

They took the summer off, and relisted with the same agents on September 7th for $1,328,000.

It went pending four days later, and closed for full price.

Be sure to check the listing history on every ‘new’ listing!

Tour of Fenway Park

by | Oct 20, 2023 | About Natalie, Bubbleinfo TV | 4 comments

Natalie’s last show with Karol G was in Boston and because it could be the last show ever, we felt compelled as committed parents and fans to attend. This was my first trip to Boston and because many of my best friends were born and raised there, and because it was Natalie’s birthday, we had to tour Fenway:

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