The NYT has another article lamenting the drop in the number of homes for sale, and offered some reasons, like covid reluctance, sellers skittish about finding their next home, forbearance relief, the lack of building new homes, and people keeping their old home as an...
This is the property where the listing agent received 50+ phone calls in the first 24 hours on the market. She raised the list price from $1,595,000 to $1,795,000, but the bidding war persisted. Ten offers were submitted, and it sold for $2,060,000 cash, or 29% above...
Tomorrow we will get the latest pricing data via the Case-Shiller Index. Last month, San Diego was #3 in the nation with a 12.3% YoY increase, and we should see a similar number tomorrow - only because we may have taken a bit of a breather (see the trend above). We...
The intensity of the CV frenzy is hard to determine because it's sold out. Lines are forming but who knows how long? Because the builder has so few left, you know they would wait it out if necessary. But so far, they aren't having trouble finding buyers willing to pay...
More of the crazy this week - here are examples: The agent reported receiving over 30 offers on this one: https://www.zillow.com/homedetails/5402-Lodi-St-San-Diego-CA-92117/17192144_zpid/ This house went live on the MLS around lunchtime on Thursday, and by Friday...
Nobody is giving them away! I think we can agree that list prices today are at or above the all-time highs, yet with demand overwhelming the few listings that are trickling out, buyers are forced to consider going even higher. It's working too: We usually get some...
Two offers that I made on behalf of buyers fell on deaf ears this weekend. The first listing agent pulled the usual stunt - the blackout, where he doesn't answer the phone or communicate in any way until the deal is done. Once he got the winning offer signed, he...
Long-time homeowners who can keep their taxable income lower and pay off their house don't find California that much more expensive (based on how few are moving). Excerpted from this article:...
An excerpt from this article: https://www.usatoday.com/in-depth/money/2021/02/04/homes-sale-we-housing-bubble-prices-outstrip-wages/6671282002/ For Mark Stapp, a real estate professor at Arizona State University, what's going on in the real estate market right now is...
We've had 208 closed SFR sales between La Jolla and Carlsbad this year. How crazy is it? Eighty homes sold over the list price, which is 38% of the total number of sales. Of those, most were just $10,000 to $50,000 over list, but there were some big bombers: Most %...
