Interesting to note that the buyer here didn't mind paying $351,000 over list awhile being represented by a noted discounter from Northern California - an agent who is a known critic of the realtor cartel but is happy to make a buck off the system 500 miles away from...
The teaser on Friday was the first 4-5 minutes - here's the full 14 minutes with a better camera angle:
We are in the midst of a real housing crisis. The rapidly-increasing home prices are exacerbating the problem too - especially for existing homeowners who had hoped to move up. If you paid $500,000 for your house and now it's worth $1,000,000, you need to spend...
Random thoughts: Having 130 NSDCC homes in June sell for $100,000+ over list price should be an all-time record. If we had half that many, it would be astonishing! But those were decisions made in April and May. It feels like the market is in the deceleration stage,...
The residential real estate market has no boundaries on pricing. It's free enterprise at its finest - no laws, no restrictions, and no limit on where prices can go. We saw a dramatic example where a model-match tract home on the same street sold for $550,000 more than...
The last time we had a big surge in pricing, the median sales price went up 100% in five years. But that was twenty years ago when the boomers were all young enough to move frequently, causing plenty of homes to be for sale. By now, most (if not all) of those boomers...
Mike thinks this year's price explosion was unusual, and is working its way back to a more-normal pace. I agree with Mike, and think the market will split, with those products that have been the hottest (one-story homes, family homes with yards and pools, etc.) will...
We had about 50 people come to the open house on Saturday, which was better than expectations. Some were surprised, and it might take a few weeks for buyers to realize that open houses are back! Open House #2 is today (Sunday), 12-3pm:
In last Saturday's blog post, I mentioned three reasons why San Diego real estate was undervalued, and pondered that there are new market forces in play that we haven't seen before. While people will scoff at the idea that it could be different this time and insist...
I already guessed that the runaway frenzy will start to temper in June. Here are reasons: Some of the craziest demand has been satisfied. Other buyers will take a break and go on vacation. Overly-optimistic pricing by some sellers. It's been red-hot for 10-12 months....
