Here’s Gary talking about San Diego real estate, and when to buy (in the second video):
Here’s Gary talking about San Diego real estate, and when to buy (in the second video):
It’s the holidays and many of the local food pantries are providing meals for those who are less fortunate.
We want to assist others who are struggling or could use a helping hand. We have teamed up with Mama’s Kitchen who provides full meals to their clients who are too sick to cook/shop for themselves because of medical illnesses such as HIV or cancer.
Their primary fundraiser is Mama’s Pies, where local restaurants, bakeries and caterers donate thousands of pies that are then sold to others. Each pie sold provides 8 meals for the clients of Mama’s Kitchen.
Help us, help them!
Apple, Pumpkin, Pecan and Crunchy Dutch Apple sell for $25 each, and the first one is on us!
For your FREE PIE, email us at firstname.lastname@example.org and let us know what flavor you want – Apple, Pumpkin, Pecan or Crunchy Dutch Apple. Then on Monday, November 25th, come to our office at the La Costa Resort to pick it up.
If you want or need more than one pie for your Thanksgiving Dinner, you can buy additional pies through us so Mama’s Kitchen can serve more meals this holiday season. All you have to do is click on the link below to order your additional pies.
How to Purchase Additional Pies:
We need your Free Pie and additional Pie Orders no later than this Friday 11/22.
Can you please join us as we Give Back – One Pie at a Time?
We hope to see you next Monday!
So you’ve heard that the market has slowed a bit, and you’re wondering,
“Should I sell now, or wait it out?”
If you don’t mind keeping your home forever, then fine, the value will probably go up in the long run. But if you’d rather get your hands on your tax-free equity in the next couple of years, consider this:
Over the last ten years, we’ve enjoyed a strong sellers’ market where buyers just paid the price. There was enough competition that if you didn’t pay the seller’s price, somebody else would.
But the competition has dwindled lately – there aren’t as many buyers looking.
Let’s don’t call it a buyer’s market just yet. Let’s call it neutral.
Buyers feel they have more negotiating power now, which means they are:
The real struggle is with homes that need work – buyers are passing on the fixers altogether unless the price is right. Sellers used to get away with selling a rough-looking home for just a little less than the superior homes, but now the 5% to 10% gap is back (or more).
Once the market has turned that corner, it probably won’t just bounce back to being a seller’s market – it’s more likely to stay neutral.
How do you know if you should sell now, or take a chance?
Here are ways to decide when to sell:
If there’s a moment when all four are happening, then you know it’s time – do it!
Could the comps get better next year? Maybe – it only takes a couple of real premium properties to sell nearby and you could add 5% to 10% in value within a few months. But it could go the other way too.
Once buyers they recognize a slower market, they will only want to pay the same as the comps, or less. They will wait patiently for the highly-motivated sellers who price their home closer to the comps – or wait until you lower your price.
The local real estate market around you is a fluid situation, so let the comps help determine your decision. If the sales price of the last house sold near you is an acceptable price for your home, then sell when the inventory is low and you’ll get all the attention.
An example of how quick it can turn:
The house I just sold on Segovia in La Costa was the only house like it for sale when we hit the market. But over the next 30 days, another ten homes listed nearby, which diminished our negotiating power. We had to lower the price to stay competitive, and finally sold for 6% under our original list price, which isn’t the end of the world – but we were more optimistic when we began.
There can be a 5% to 10% variance in price when selling any home. The four nuances above will be factors, but the best thing you can do to sell for top dollar is to hire the right realtor. Contact me at (858) 997-3801 and we’ll discuss what I can do for you!
At first glance you would think that the lower mortgage rates of 2019 have made NO difference in the market this year, compared to 2018.
But if we didn’t have rates in the 3s for most of this year, where would we be? We would have had a lot tougher time getting sellers and buyers together on price. It’s already been a challenge:
NSDCC Detached-Home Sales & Median Sales Price, Jan-Oct
2018: 2,418 $1,325,000
2019: 2,393 $1,325,000
Will sellers capitulate in 2020? No, because there isn’t enough evidence that they need to.
Will buyers pay more in 2020? Probably not, especially if there’s anything that makes them think that waiting longer is a good idea.
Get Good Help!
A hearty congratulations to our Carlsbad U14 soccer team on a great season and making it to the semi-final game of the regional-championship tournament!
Winner of an AIA Merit Award, world recognized architect Paul McClean and acclaimed designer Lindsay Chambers create this bespoke 9,200 square foot home resting on a prestigious quiet cul de sac in Trousdale Estates. Four years in the making, this home’s exterior is from stonework finished by artisans in Italy to create the one-of-a-kind exterior seen nowhere else in Los Angeles. Highlights include a wellness center, large home theater, 10 car garage, interior pool, and westward ocean views. An additional apx 2,850 sq ft garage can be used as a showroom or art gallery (12,050 Sq ft includes garage).
Kayla sent this in:
CARLSBAD — The iconic smokestack atop the Encina Power Station received a stay of execution.
The City Council approved an extension, not to exceed nine months, for the demolition deadline of the regional landmark.
Gary Barberio, deputy city manager for Carlsbad, said NRG Energy, which owns the power plant and new peaker plant located behind the old station, stated two reasons for the delay. One is the desalination plant using water pumps from the power plant for seawater. The second reason is an antenna atop the smokestack, which is used by the San Diego County Sheriff’s Department for its Regional Communications System used by law enforcement and fire departments for emergency response.
The goal is to have both items addressed by April 2020, although the desalination pumps may not be installed until June 2020, Barberio said.
“We are very hopeful the new system will be up and running for the sheriff’s department by April 2020,” he added.
NRG and San Diego Gas & Electric own large swaths of the property, although NRG owns significantly more. Barberio told the council he would not discuss a potential agreement with SDG&E and its North Coast Operations Center, which sits along Cannon Road.
Here are Susie’s comments on the Boise article from Monday – she moved there from California a few years ago:
Hi Jim, just saw this. The recent election was interesting. Incumbent mayor Dave Beiter (since 2004) was running for his 5th term and received only 30% of the vote, while the Boise City Council president Lauren McClean got 46% of the vote. There was a field of 7 candidates. Wayne Richey, whose platform was anti-California, received just 2% of the vote.
McClean’s platform was for more affordable housing–(Boise was the fastest-growing city in the nation a couple years ago and prices have skyrocketed)–and transparency in local government.
Since no one received 50% of the vote, there will be a runoff for Boise mayor in early December between Beiter and McClean. The new home we built a year ago is only about a 1/2 mile from the Boise so I wasn’t able to vote in the Boise mayor election.
Yep, I did change my California plates as I heard that it was important to do. Ironically, I have been unable to remove my sunbaked UC-Santa Cruz bumper sticker in my back window as my daughter graduated from there in 2012. I have never had anyone yell at me on the roads but took a neighbors advice to say I’m from Santa Barbara and not California. Why? “Everyone loves Santa Barbara!”
The only time I’ve been verbally assaulted–strangely– had nothing to do with California. It happened in my first few months here. A lady in a store was very upset at me because I pronounced Boise “Boi-zee” and not “Boi-see”. “If you’re going to live here, you better pronounce it correctly!,” she admonished me.
Being a real estate addict, I’ve asked agents if everyone moving here is coming from CA. The answer was California, Washington and Colorado, with some from the East Coast.
I find Boise a friendly place. When I moved up here, I decided it’s best not to get into too many political discussions. That philosophy has proven to be a good decision.
PS I was in deep mourning over the Dodgers not getting into the World Series this year. How about you?
I went to the annual seat shuffle at Petco Park on Tuesday. It’s the event where Padres season-ticket holders can see which seats have become available, and possibly switch to a better location.
It reminded me of our local real estate market:
The best locations are owned by seniors who have had them for a long time, and they’re not giving them up!
There were some decent seats available, but very few of the prime seats up close.
Old-timers discussing their future mirrored what I hear about their real estate too. Some have a specific succession plan where, upon their death, the kids will take over the tickets, but there were others who mentioned that their kids are out-of-town, and have no interest.
Will there be a time when a load of great tickets become available?
Just like we’ve seen in real estate, probably not.
But you don’t need every senior to bail – all you need is one old couple to give up their prime spot!
Here’s a 33-second look at how few of the good seats were available: