On February 10th, I guessed that by mid-March, enough new listings would be pouring into the MLS that a glut might be forming, and we would be up to five months' worth of inventory. Date NSDCC Listings Avg. LP $$/sf Jan 14 649 $722/sf Feb 4 667 $716/sf Feb 10 679...
For those who were thinking of sauntering in to this new development later this year to buy a house, it doesn't look good. Those on the waiting list won't be peeling off to buy similarly-priced resales around Carmel Valley, because there is no comparison:
Rancho Penasquitos is a real sweet spot for mid-range homes these days:
Peak pricing is approaching in several spots - how much higher will it go? Buyers would love to see the sales momentum get disrupted, and if something happens they will be happy to hit the brakes. At the same time, those gambling sellers who waited too long will jump...
While some read recent home price gains as a sign of an improving market, Radar Logic warns the recent gains are “unsustainable” and may actually be dampening market recovery. Radar Logic attributes recent house price gains to anomalous factors it considers temporary,...
You see more and more cash buyers just paying whatever it takes to win the property, including paying $126,000 over list price..........in Oceanside: I applaud this listing agent for raising the list price, though it's not recommended generally because you...
Here's an example of what happens when three houses hit the market about the same time in Rancho Penasquitos, and the flurry of activity that ensued:
To fulfill the entire frenzy experience, it's good to review closed sales to see how crazy it can get. Back on December 2, 2011, the bank's opening bid at the trustee's sale was $990,000 on this La Jolla house that had undergone a partial demo & rebuild (more demo...
An update on the Actives/Pendings report - does anyone remember when it was called the Jim Ratio? One day fellow realtor Peter B. agreed with me that a 2:1 ratio of active listings to pendings were a normal market, and boom, the Jim Ratio was born. The...
There are more houses that aren't selling, than those that are. In a frenzied marketplace, how do you know which are the good buys? It's easy - the babbling listing agents will tell you. I always contact the listing agent and ask, "How many offers are in?". Their...
