Fed Chair Powell finally indicated today that it is time for rates to be lowered.....and the 10-year bond yield barely budged. The next Fed move is already priced into mortgage rates. Don't wait to buy just because you think rates might get better. Buy when you find...
There are more people leaving the San Diego metro area than are moving into the area, and it's incredible to see how both lists have virtually all the same towns. No Nashville, no Florida, and no Carolinas either! It's interesting that no one wants to move to Ventura,...
We are going to hear more about making home ownership more affordable. An op-ed: https://www.cnbc.com/2024/08/20/op-ed-the-case-for-a-40-year-mortgage.html An excerpt: Homeownership has long symbolized the American Dream, embodying stability, wealth creation, and...
Compared to last year, there are 25% more sellers not willing to get realistic about the value of their home. It's fine, as long as they don't mind waiting for all the other better buys to clear out - and it might be a loonnnggggg wait. The median days on market for...
The mainstream media outlets (WSJ and CNN) are highlighting the changes in realtor compensation one more time this week. They're not offering anything new because they can't find anyone who can predict what will happen, good or bad. A summary of my thoughts on the...
It's not really oceanfront with a 4-lane road in front, but it's close. You have the traffic-controlled crosswalk at the corner for easy access to the staircase down to the sand (that the City of Carlsbad is spending $14 million to repair and replace). It's close...
When the impact from the NAR settlement was coming into focus in April, the NSDCC active listings that offered a 2.5% commission to the buyer-agent was at 57%. Of the last 105 NSDCC listings, 36% are offering 2.5% or more commission. The new rule hasn't gone into...
The other day I popped off about how the market was deteriorating and we'd be lucky to see 100+ monthly sales the rest of the way in 2024. What do I know? Here is the sales data for this month so far: There are two solid weeks left in July - could we get to 200 sales...
I left this story in the comment section in June when Winstanley was pending - it closed yesterday so we can finish the saga. Surfrider had asked when I knew the market had changed, and I filed this response: It was in mid-May. Example: Here the timing was perfect –...
The number of NSDCC active listings blew right through the 500 mark, and the count is now up to 509 unsolds. The number of pendings had stayed above last year's count primarily because there have been more homes for sale. But it looks like all the quality homes have...
