Chris asked how the current environment compares to the 2008 downturn. In the summer of 2008, there were only 601 NSDCC sales between June 1st and August 31st, in spite of there being 1,348 listings that summer. For the next two years, the number of listings far...
The wildcard on pricing is that every potential seller has sufficient equity to dump on price if needed. Why a seller would give it away when there are so many other alternatives (renting, reverse mortgages, hard-money loans, etc.) is beyond me. Even flipper...
It is a true honor to have listed for sale my favorite home of all-time! 365 Marine St., La Jolla 3 br/3.5 ba, 2,894sf YB: 2018 LP = $6,950,000 This custom contemporary was designed and carefully-crafted for over three years to be the ultimate beach house just 100...
I don't care what color he's seeing, if he sells his tony golf-course estate today and thinks he will buy it back later for less, he will be in for a rude awakening. Without foreclosures (now mostly outlawed in California) causing banks to give away homes, there won't...
When thinking about selling, homeowners (especially the long-timers) complain about paying the capital-gains tax on their net profit above the $250,000 exemption per person. With the rapid escalation in values lately, it has turned into a six-figure tax for many!...
It is amazing how much faith the consumers put into their zestimates and Redfin estimates. In spite of them obviously being ginned up, people just want to believe! As long as automated valuations are carrying so much weight, let's include a few more! There are three...
When calculating how much your home has increased in value, you have to identify its COST BASIS - meaning anything and everything that you spent to pay for the product. The IRS defines a capital improvement as a home improvement that adds market value to the home,...
This is the house I featured here when it went on the market on January 12th. It was a little early for the usual selling season but the market has been so hot over the last three months that we dove right in. The numbers: Model-match sale across the street in May:...
The Super Bowl is complete, and the spring selling season begins today! Judging by the quick jump in the total number of pendings, homebuyers aren't waiting around. Mortgage rates have risen faster than any time in the last dozen years, and the number of homes for...
I screwed up the national rankings the other day. Donna sent me that clip but it was the 2020 list, not from last year. Anyway, who cares about the national - real estate is local! In just 3+ years, Compass has become the dominant real estate brokerage in San Diego...
