RSF $100 Million
A different realtor has had this listed for sale since 2020, priced at $98.5 million.
Lithium-Battery Fires
This is the third garage fire I’ve seen that was started by lithium batteries!
Why are lithium-ion batteries flammable?
Lithium-ion batteries store a lot of energy in a small amount of space. When that energy is released in an uncontrolled manner, it generates heat, which can turn certain internal battery components into flammable and toxic gases.
How do fires from lithium-ion batteries start?
Lithium-ion battery fires happen for a variety of reasons, such as physical damage (e.g., the battery is penetrated or crushed or exposed to water), electrical damage (e.g., overcharging or using charging equipment not designed for the battery), exposure to extreme temperatures, and product defects.
What are some unique dangers of lithium-ion battery fires?
Heat, smoke, the release of toxic gases, and the potential for explosions are the dangers associated with lithium-ion battery fires.
What are some safety tips for buying, charging, storing, and using lithium-ion batteries in devices like laptops, phones, tools, and more?
- Purchase batteries that are only listed by a nationally recognized testing laboratory and labeled accordingly.
- Stop charging a battery once it is full.
- Use charging equipment that is only compatible with your device. To be safe, use only the charging equipment that is supplied with your device.
- Stop using your device if the battery shows signs of damage, such as an unusual odor, excessive heat, popping sounds, swelling, or change in color.
- Have all repairs performed by a qualified professional.
Where is the safest place to charge batteries in e-bikes and electric vehicles?
When it comes to e-bikes, e-scooters, and electric vehicles, the safest place to charge these devices is outdoors away from any structure or enclosure and not in direct sunlight. Do not charge a battery when either the charger or the battery is damaged. Do not store batteries in extremely hot or cold locations or in an area that blocks the only exit out of to a room. And do not attempt to modify the battery or charger.
https://www.nfpa.org/education-and-research/home-fire-safety/lithium-ion-batteries
Kitchen Ideas
Just Ducky
This was not my sale but an interesting choice when spending almost $6 million:
Jim’s Buyers
The lawyers think we should do more to prove our worth, so I’ll mention our recent sales where we represented the buyers.
Some may think we are too busy to help them or have other pre-conceived ideas, but hopefully these will help to demonstrate our ability to assist buyers. I encourage every buyer and seller to review an agent’s Zillow account to examine their sales plus reviews – here is a link to ours.
1. The sellers were getting divorced and we thought their price was attractive for a good-looking home in a premium south-facing location so we offered full price, and they took it.
https://www.compass.com/listing/1815-hawk-view-drive-encinitas-ca-92024/1530810296105033849/
2. Our buyers wanted to purchase a single-story turnkey home with view for less than $1,000,000 – which is getting harder and harder to accomplish. This had a new kitchen and primary bathroom, so our folks installed new hardwoods to complete the full package.
https://www.compass.com/listing/28782-vista-valley-drive-vista-ca-92084/1526160553594195545/
3. Our buyer completed a 1031 exchange with this groovy 2br condo west of the freeway in downtown Carlsbad. We made cash offers and lost out on six other properties before finally landing this gem:
https://www.compass.com/listing/2820-hope-avenue-unit-g-carlsbad-ca-92008/1577724336268812193/
4. Getting a house this size in Carmel Valley for this money has only happened four times this year – and one of those was an off-market sale, and another was one of the goofy Harcourt auctions:
https://www.compass.com/listing/11653-thistle-hill-place-san-diego-ca-92130/1568249663348126825/
5. This closed yesterday for $2,475,000, or $626/sf which is great for a Davidson-built home of this size. Donna got a $14,000 credit for repairs too!
https://www.compass.com/listing/6626-halite-place-carlsbad-ca-92009/1571935113317168201/
I cover all price points and areas, and my specialty is identifying the less-obvious concerns while we are at the home or by video – which works great if you are busy or out-of-town.
I do all the showings and negotiate the contracts myself, and then Donna takes over. Once the home inspection is complete, she gets quotes for anything that needs attention and then goes to work on the sellers so they pay part or all of the expense.
I don’t think I’ve ever sold an actual ‘dream’ home. My buyers typically get a premium property at an attractive price – and I tell every buyer to expect to spend $25,000 to $50,000 on any house you buy!
Idyllwild
Want to get out of the rat race but stay close to San Diego County?
There are plenty of homes for sale priced under $500,000:
Where The Deals Are
The number of NSDCC listings this year is +12% over last year’s count between Jan 1 and Aug 31. But the La Jolla-to-Carlsbad inventory is 40% less than it was in 2019, much like the -38% in San Diego above.
Elsewhere the inventory has been exploding well above their 2019 counts, and panic has to be setting in. If you don’t mind buying out-of-state, there has to be some deals!
Looking Forward to Next Year
Can we learn about what to expect in 2025 by reviewing the other recent metrics available? Here are alternative ways to gauge the market conditions – the most interesting numbers in red:
Number of Sales – Just incredible that out of nowhere the July sales set the high mark for 2023-2024!
Median SP:LP – This month setting a new low for the group, proving that there’s nothing price can’t fix.
DOM – Buyers move quicker in springtime, but the average DOM is steady.
Volume – July was huge!
Average $$/sf – This month is 24% higher than in January, 2023!
In May, 2022 at the peak of the frenzy when rates were still 3%, the average $$/sf was $1,063/sf.
I will update the August numbers in a few days.
CCR
John Fogerty is playing the Rady Shell next Wednesday!
NSDCC Under List
During the frenzy there were months where 70% to 80% of the sales were closing over their list price.
Recently it’s been down to around 25% of the buyers paid over the list price.
How many paid under?
We’re in an affluent area so let’s get our money’s worth.
How many buyers this month paid at least $100,000 UNDER the list price?
Of the 142 closings in August, 36% of them closed at least $100,000 under their original list price.
And you’re going to try and do this without an agent?
Get Good Help!
