It would have been a good idea to launch the auction format on an industry-wide basis during the frenzy. But how about now? They are still a good idea because auctions bring transparency and certainty to the home-buying process, which buyers would appreciate and make...
When we listed 365 Marine Street in La Jolla for $6,950,000, the price was very aggressive at $2,401/sf. A top agent called it 'oceanfront pricing'. Here's the strategy I employed to sell for top dollar at minimum risk! Here is my home tour: This was my tour of the...
We are having fewer sales between Carlsbad and La Jolla, but about the same percentage are closing over the list price as we've seen in the previous months of 2022: NSDCC Detached-Home Sales, June (Month-to-Date) Number of Sales: 104 Number of Sales Closed Over List:...
Over the last few decades, the 30-yr fixed mortgage rate has run at 1.75% over the 10-yr yield - which if true today, it would put us at 5.0%, instead of 6.0%. Here's what the MND thinks about the bond yields: As for Treasuries, yields are now high enough as to be...
Now he's done it. Chairman Powell's remarks yesterday (and my comments at bottom): Rates were very low. A good place to start is rates were very very low for quite a while because of the pandemic and you know the need to do everything we could to support the economy...
https://twitter.com/SamuelWigness/status/1537135625953955841
By the end of today, the 30-year mortgage rate should be in the mid-6s - who would buy a house now? Between higher prices, higher rates, and the hefty federal and state capital-gains tax, the move-up/move-down homeowners are effectively locked in to their existing...
The frenzy wasn't going to last forever. Coming off the initial covid months, everyone thought the red-hot market was an acceptable reaction to the way our world had changed. But it's gone too far, and somebody had to do something - and the Fed is going to do it...
As you can see in my mortgage-rate tracker (in right column), we had another meltdown today, and the conforming rate now is over 6% (with no points). The idea of paying higher prices AND rates really discourages the move-up/move-down markets. Combined those with...
With mortgage rates blowing through the fives and another Fed meeting coming up on Wednesday, I think we can declare that the frenzy is over. Or at least we can expect that it's over in the buyers' minds. But one fact remains the same: There still isn't anything to...
