Here are the histories, and forecasts, of our local Zillow Home-Value-Index for each area:
They are forecasting flat or declining prices in three of our larger areas – and they are also predicting a drop-off in values as the selling season will be getting underway in March, 2020 (which sounds far-fetched).
Their track record hasn’t been that great though. Here is their Carlsbad prediction in December, 2015, when they expected a 1.9% increase for 2016 – the actual was +7%:
The Carlsbad HVI has risen 19% since the beginning of 2016!
Can we agree on one likelihood? Prices probably won’t be going up much in the next year or two.
California Gov. Gavin Newsom has made clear that cities that fail to commit to building affordable housing will be in trouble.
His actions are making Encinitas nervous.
The North County city is one of 47 municipalities — the only one in San Diego County — that has failed to submit a plan to the state identifying sites for housing production of all income levels. After twice rejecting those plans at the ballot box, a judge is intervening.
Voice of San Diego’s Jesse Marx and NBC 7’s Catherine Garcia unpack Encinitas’ ongoing legal problems over affordable housing.
Here’s a video tour of our new listing at 939 Calle Santa Cruz, a luxurious 4 bedroom (plus office), 3 bath, 4,739sf home with 3-car garage plus RV parking on an half-acre lot in Olivenhain. List price is $2,200,000.
It has the size, privacy, and luxury of a home you’d find in neighboring Rancho Santa Fe, but with modern conveniences such as cable TV/internet, sewer, and natural gas on a much-more manageable half-acre lot size!
Enjoy the well-appointed 4,739sf interior space and then mosey through one of the several floor-to-ceiling glass doors to the exterior – where you’ll find equally engaging features such as outdoor kitchen/BBQ, solar-heated pool and spa, gas heaters, waterfall, and ADU.
People are feeling a ‘change’ in the market, and wonder what will happen. The rapid escalation of prices has turned real estate into a rich man’s game – and you need serious horsepower to participate!
As the rest of North San Diego County’s coastal housing market feels the ‘Rancho’ effect, we will see more listings coming to market, listings taking longer to sell, and bigger gaps between list prices and sales prices.
In the surrounding lower-priced areas, the action has been much faster – we’re used to the quality homes selling in the first week or two. Let’s compare RSF to Encinitas to demonstrate what we can expect from now on:
Rancho Santa Fe
Oct Average DOM
Oct Average SP:LP
We’ll have more homes on the market, slower market times, and bigger gaps between the list prices and sales prices. It’s how they do it in the Ranch!
The old wood-shake roof didn’t get in the way of this one selling, and though it is horse property, there weren’t really any actual horse facilities. But it had three major hot buttons; single-story, detached 1-bedroom guest house, and 720sf man cave. This is the second time in three years that it sold for at least $2,400,000 (this cash sale did include a $60,000 credit for repairs):
"Jim and Donna Klinge are by far the most professional, personable and responsive realtors I have ever worked with. They provide VIP concierge level service in every area of the process of selling your home. My home was marketed so successfully that we received an offer the day after our first and only open house. Thanks to Jim's pricing and negotiating, our house is now the highest sold in our community... more "
by Ann Romanello
"Jim educated us, helped us find the perfect house, and then negotiated us a great deal. I would hate to be sitting across the negotiating table from ... more "
"Jim is thorough and will be brutally honest about the homes he shows you. He provides great service and follows through until the very end and even ... more "
"I highly recommend Jim as a buyer’s agent. Working with Jim, we closed this week on a San Diego condo. Jim prepared a list of comparable sales to ... more "