Encinitas Gated Culdesac 4-Car

This home listed for $3,595,000 but didn’t have any takers over the first five weeks.  They ‘refreshed’ the listing (let it expire and then relisted as a new listing), with a lower price of $3,445,000 – a discount of 4%.

They found the buyer a week later who paid $3,400,000 cash. I’m not sure if it was the lower list price that caused it, or the refresh?

No Fuss

This Encinitas Ranch home was listed for $3,499,000 on March 29th – which was the week rates started going up – and had no price reductions. After 112 days on the open market, they found a buyer who closed in less than 30 days (Sept.12th) for $3,390,000 cash, which was 3% under the list price.

The buyer’s dilemma: If you are like most buyers, you are turned off by at least 90% of the inventory.

There are probably only one or two listings per month that are nice enough to capture your interest – can you stay passionate in your pursuit? Will you review every auto-notification of a new listing with the likelihood of 85% to 95% of them have no chance of being a possibility for you?

For some, and perhaps for many, it will be easier to just pay within 3% of the list price for a stale old listing. Buy the house and get settled. Pour another 5% to 10% into it during the first year to make it your own.

It’s just money.

NSDCC Summer Update

The July stats have been updated on these interactive graphs of the 92009 (SE Carlsbad), 92024 (Encinitas), and 92130 (Carmel Valley) markets:

We hear how the inventory has exploded, but compare it to history:

Sales during the 2022 selling season have been similar to February/March numbers:

It’s good to see the insane-bidding-over-the-list-price has slowed:

We’ve pulled forward about ten years’ worth of appreciation – sellers will be reluctant to give it back:

Edible Landscaping in Encinitas

Fox Point Farms is a new “Agrihood” community spanning approximately 21.5-acre in the City of Encinitas. The site will provide 250 new residential units, including a mix of 53 for-sale cottages, carriage units, and townhomes, as well as 197 apartments. Of these units, 39 are set aside as “very low” (at or below 50 percent of area median income) affordable residential units.

The site features a number of unique and engaging amenities, including edible landscaping, community gardens, trails, a bocce court, social spaces, a community library, and a community recreation center. The project will also include a shared public/private agricultural amenity area including a farm-to-table restaurant, farm stand, event lawns, discovery garden, greenhouse and community work area, and an outdoor education patio. The northern portion of the project site will remain in agricultural use, serving as an organic farm operation.

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