Here are graphs that look generally supportive of the local market. The SP:LP is still well above 100%, though hopefully it will keep receding. Everyone should be happy with it running around 100% or a little under, like it has throughout the history of real estate:...
This film was taken on May 25th, a month after mortgage rates hit 5%. I can't wait to hear from the doomers who swear that because sellers had to take a whopping $50,000 haircut off the list price to sell this house to cash buyers who closed in two weeks (with sellers...
Realtors are saying that the market is slowing, and Marc D. suggested that we define what that means: A slowing market is when fewer active listings are priced to sell. It is a result of..... Fewer buyers - Higher mortgage rates priced out some or most of the buyers...
While the market may be calming down, there are still properties selling for well over the list price!
This is the only other sale located on the Encinitas Ranch golf course that might be considered a comparable sale, but it's a completely different offering. The house has 5,200sf with pool on a half-acre lot - with no threat of golf balls hitting you while in the...
Previously I said that buyer-agents are getting cut out of the action. There are so many reasons why: Commissions are grinding down. Buyer-agents have to sell more, to make the same $$. Working at higher price-points requires advanced skills. Can agents improve? Are...
Mike is one of the more level-headed analysts, probably due to the wealth of national data he processes. There will probably be a solid undercurrent of activity as evidenced in the graph above: Mike's tweet: Prices, meanwhile are still strong. 5 bidders instead of 50...
Economic_Forecast_May_22 We're going to be hearing for months about how sales are dwindling. It's mostly due to comparing 2022 stats to last year's numbers, which were the most frenzied-up numbers ever. But it is also due to it being a market for the affluent now....
Another cash buyer paying 8% over list - and this was a month after rates hit 5%:
Our new listing in NE Carlsbad with some commentary on market conditions:
