This is the type of premium offering that has enough going for it that they should get their money. The non-pool buyers probably won’t like it at any price, but those who want turnkey with big view on a culdesac will find it hard to pass up – here’s a minute of it:
Are meaningful design changes coming our way? Are we done with white kitchens yet? Read more here:
https://www.sunset.com/home-garden/design/design-trends-2023
I had four showings of my new listing today, and the buyers sure seemed serious – and we might not make it to open house weekend. Here’s a quick spin around the house, plus a surprise at the end:
What many consider to be the greatest album of all time, Pink Floyd’s Dark Side of the Moon, was released 50 years ago today. It was ranked in the Billboard 200 from 1973 to 1988 (15 years straight!).
The last time the four members played together was at the London Live 8 in 2005. They played three songs from DSOTM to start the show:
It was the most insane frenzy ever, and it was the most intense at the beginning of last year as inventory started to thin out. Compared to that environment, I think these stats look pretty good:
NSDCC Monthly Sales and Pricing
Down 5% to 10% YoY, and on the rise? I’ll take it!
Our new listing across from Tide Beach Park in Solana Beach has fully-approved plans to build a spectacular Mark-Morris-designed California Modern Contemporary – or just enjoy your beach cottage!
Mark designed the La Jolla house we sold last summer at 365 Marine Street – this plan has similar qualities! Open 12-3pm this Sunday, March 5th.
https://www.compass.com/app/listing/506-pacific-avenue-solana-beach-ca-92075/1256725407327863041
(Think the market is dead? I received two inquiries in the first ten minutes!)
The local index is 11% lower than its peak in May.
The beauty about this market is that buyers don’t have to fight with the decision to buy now or wait. Because the inventory of quality homes is so thin, having to wait is baked in.
How often do buyers see a home for sale that interests them? Once a month, maybe?
The higher rates go, the more sellers will think it’s a bad time to sell – causing FEWER homes for sale.
It’s a big game of chicken, and you have to wonder if every buyer will get the memo to hold out. If renegade buyers keep paying retail for the premium properties, it spoils the whole idea of prices dropping.
Will higher rates cause better pricing on the homes you are willing to buy?
Don’t ask Jay Powell, because he doesn’t know. He said:
We are well aware that mortgage rates have moved up a lot. And you are seeing a changing housing market. We are watching it to see what will happen.
How much will it really affect residential investment? Not really sure.
How much will it affect housing prices? Not really sure.
Thanks Jay!
We are two months into 2023!
Here’s how the weekly new listings compare with previous years – inventory is worse than ever:
As a result, the list-pricing looks like it is holding up:
Here’s how it wrapped up last year:
The high-quality homes that hit the market in March should reveal the underlying frenzy conditions.
Arizona has all climates; from desert heat to snowy mountains, and everything in between. This guy has hundreds of videos that tour every big and little town in the state plus topics of interest:
Careful guidance through the escrow period will never be more important – and valuable – as it is during the post-frenzy boom-and-doom!
