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Olivenhain Single Level

After she took five listings at the same price, I joked with the listing agent here that maybe every house was worth $3,200,000 now!  I don’t think any of them were worth $3 million before this year, and this is the only one that has closed under list:

One-Story on Acre Lot


This listing hit the open market on April 18th, which was long after mortgage rates had gotten into the 5s.  It went pending in the first ten days, but then it fell out of escrow three weeks later.  By then, the doomer talk had escalated and reviving the market urgency would typically be more of a struggle.

They stuck with the $3,995,000 list price though, and another buyer snatched it up the next day and closed in two weeks at a slight discount of $3,850,000 cash:

There might be some turbulence in the marketplace being caused by the incessant doomer talk, but I haven’t seen any quality homes having to sell at a big discount yet.

Olivenhain 2 Acres With View

This was the Private Exclusive off-market listing that hit our intra-office website late in the afternoon and literally the next day most of the top Compass agents and me rushed over there to check it out.

Both buyer and seller take a gamble on price when transacting off-market. Since this was filmed, two sales on Rancho Encinitas Drive have closed for over $4,000,000, so this buyer should be happy with their $3,230,000 purchase price here (which was $405,000 over the list price).

Carlsbad/Olivenhain

The camera was rolling today – here are a couple of short home tours with commentary along the way:

We lost a pillar of our industry this week when Mike Evans, broker/owner of Sea Coast Exclusive Properties passed away.  He began his brokerage in 1985, and it grew into three offices with 150 agents before he sold it to First Team in January. RIP

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