Sweeping Ocean View

The minute I saw this address I knew that it would have a big ocean view because I sold one in here before. It turns out, I sold this very home in 2001 for $257,000 when it was all-original (I rep’d the seller then). It has since sold for $461,000 in 2005, $429,000 in 2014, $613,000 in 2018, and $979,000 on Thursday.

My buyer is out-of-state and made the offer based on this video – and then came for the home inspection:

Frenzy Is Back

You might think that the frenzy conditions are starting to percolate again after watching this video! There were 13 offers submitted, and the winner had agreed to pay $1,410,000. But once they found that it needed a roof and other stuff, they agreed to a $40,000 reduction in price.

Plus it features the first time I have fallen down while filming!

Carlsbad Train Redevelopment

As a way to “raise additional revenue and to increase ridership on trains and buses”, the train people started looking for developers last April – their solutions:

Under agreements the board approved Thursday, West Village Partners will build 184 market-rate apartments or townhouses and 50 affordable units on 14.37 acres the transit district owns at the downtown Carlsbad Village Station on State Street.

Affordable housing will make up 27 percent of the Village residential units, well above the city’s minimum requirement of 15 percent. The Village project also will include 17,000 square feet of ground floor retail space, 435 parking spaces, a 110-room boutique hotel, a senior living facility, and 80,000 square feet of office space, according to preliminary plans.

“This location is primed for redevelopment with only a short walk to restaurants, retail and local beaches,” a district staffer said.

The Village station sees an average of 800 patrons daily, with about 600 of those riding the Coaster and 200 using Breeze buses. The Poinsettia station, on Avenida Encinas near Poinsettia Lane in southwest Carlsbad, averages 400 Coaster riders and about 40 bus riders daily.

Raintree Partners was selected for the 11.47-acre Poinsettia Station, which will have 146 market-rate dwellings and 31 affordable units, or 17 percent of the residences. Almost 5 acres of the site will remain undeveloped under a permanent conservation easement.

Both exclusive negotiating agreements are valid for 2.5 years. During that time, the developers will work with district, city and regional officials on final designs, permits, and other issues. Construction is expected to start in 2025 at the Village station and in 2027 at the Poinsettia station.

Just another 234 apartments, a 110-room hotel, senior facility, and ~100 offices in downtown Carlsbad.  You think it’s crowded now? There won’t be any room left for the tourists!

Link to UT Article

92010 Foreclosure Averted

This seller did everything imaginable to upgrade this house in NE Carlsbad, and then got into trouble – BofA filed a Notice of Default in April on his $1.9 million mortgage. But don’t feel bad for him having to drop from his lofty $4.5 million initial list price to eventually sell for $3,175,000 – it is still the highest sales price ever in this zip code.

Post-Frenzy Bio Disco

We launched our Aviara listing with open houses on the weekend of September 17 & 18.  Newer one-story homes built by Davidson might be the most popular homes around – if you can find one for sale.

Remarkably, there were two other sales of this floor plan this year. In March, there was a sale across the street that closed for $2,110,000, and another around the corner sold for $2,050,000 in June.  Both made our $1,800,000 list price look attractive.

A few days later, we opened escrow at $2,100,000 cash.

Allegedly, the buyer was a recent widow in her 40s with two kids who was being represented by her mother who was in her 70s – who admitted to not being an active realtor for years. No problem, we will help you along the way to make sure we all get to the finish line.

Their home inspector mentioned a stain on a baseboard, and that a mold test would be in order.

Once that thought is out in the open, people will think the worst.

They hired a mold inspector who conducted the standard air sampling where they compare the mold counts in the air outdoors to samples taken inside. Those results came back clear – no mold.  He also collected swab samples from under the toilets and sinks, and the one area did test positive:

The only mold found was on a single baseboard behind a toilet that measured 2+ on a scale of 1-4.

I told the buyer and the buyer’s agent that we regularly deal with mold remediation and have one of the best solutions available.  Not only do we have a certified mold-remediation contractor, but we also have the county’s best mold tester who will give you great confidence that the problem has been eradicated.

The agent seemed to take it worse than the buyer, which led to their confession.

It turned out that the daughter was buying the house for her mother, the agent!

I knew I had a problem because people in their 70s aren’t as familiar with today’s more-complex set of variables of home buying. Back in the old days, we didn’t do home inspections, let alone have home inspectors who instill fear in buyers who are already skittish. I don’t mind suggesting further inspections, but have some bedside manner, for pete’s sake. Describe them in a way that you don’t scare the crap out of the buyers. In the days that passed between the home inspection and the actual mold results, you can bet that the buyer/agent imagined the very worst.

Her final statement?  “I can’t handle the stress”.

The next day she sent over the signed cancellation form, with no explanation.

We completed the remediation, and now I get to convince another buyer that there isn’t a problem today.

How many other homes for sale have minor mold under a sink or toilet?  Many? Most? Yet, the majority of homes sold don’t get tested for mold, so buyers never know what they are buying, or what lies ahead. But not here!  We’ve done full remediation and it tested 100% clean!

Open house 12-3pm this weekend!


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