Next year is upon us! If there is one word to sum up what to expect in 2023, it's sluggish. Here's why: Dull (not sharp) pricing. Patient buyers. Higher rates. Slow reactions. Those sellers (and their agents) who are bold enough to list their home for sale early in...
The local index peaked in May, so today's local Case-Shiller reading for October is the fourth in a row that reflects the much-higher mortgage rates: San Diego Non-Seasonally-Adjusted CSI changes Observation Month SD CSI M-o-M chg Y-o-Y chg Jan ’21 301.72 +1.4% +14.3%...
A Christmas nod to the real estate fact of life - there's nothing price won't fix! This just closed for $1,200,000 cash after a 7-day escrow:
It's bad enough that the Fed chairman doesn't know how his actions will affect the markets. If you didn't know, wouldn't you be cautious? Apparently not for Powell, and it seems likely that the Fed will bump their Fed Funds rate another 3/4% in the first half of 2023...
The #1 reason that the real estate market has been in the doldrums over the last few months is because of the inept response from realtors on how to handle it. There hasn't been ANY real guidance or advice coming from NAR and other industry leaders on what to do,...
I don't listen to podcasts but I probably should. Do you? Should I do a podcast? Maybe I can work one in occasionally next year. It always seemed repetitive to talk about the same things you see here on the blog, but I could always tell old stories....
The 2023 real estate forecasts keep coming in. With the radical change in market conditions, the annual statistics are going to look dramatically different from the more recent activity - look at these differences in home sales between La Jolla and Carlsbad. NSDCC...
THIS TIME LAST YEAR: ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ THIS YEAR: We had 155 new listings and 105 new pendings in the last six weeks. There has been ONE detached-home listing between La Jolla and Carlsbad since July 1st. 54% of the detached-homes for...
If everyone is relying on the zestimates....are they any good? It's a scary thought that we've become dependant upon an algorithmic computation of home values run by a third party for profit. Good thing they got out of the home-buying business! The zestimates have...
We played in the charity whiffleball tournament to benefit Camp Kesem, a week-long camp for kids who have parents who suffering from cancer. We raised enough money to send another TEN kids to camp! We got smoked 13-2 in our game though. Here is the story on Camp...
