Typical
The homeowners paid $4,700,000 in March, 2023 (less than a year ago) and put in a pool and now they are asking $6,495,000.
Sorrento Valley Gem
11043 Cedarcrest Way, San Diego, 92121
3 br + den/2.5 ba, 2,000sf
YB: 2000
Lot size = 6,163sf
HOA = $53/mo (no Mello-Roos)
LP = $1,450,000
SP = $1,610,000 – we represented the sellers and had NINE offers that bid it up!
Check out our new listing in the heart of Sorrento Valley! You’ll love this central location that allows for maximum convenience when getting around town – and be on a quiet and friendly culdesac! Three bedrooms plus den, remodeled primary bath, new appliances, new carpet and paint, high ceilings – light & bright – plus a good-sized yard (with new sod) and two-car garage with third bay for storage! Wow – be close to everything here!
Top 10 According to ExPats
Do you ever think about packing your bags and moving to another country to start a new life abroad? If so, you’re not alone. An October 2023 survey by language tutoring company Preply found that more than 37% of its respondents aged 18 to 26 want to live abroad indefinitely. As for why, 1 in 4 said they wanted access to better programs, like universal health care. Others cited new cultural experiences, the high cost of living in the U.S., and our current political climate.
If you’re serious about moving out of the country but unsure where to go, a recent report from InterNations ranking the places where expats are thriving might point you in the right direction.
Mexico is also the friendliest nation on the list, with 89% of expats saying that locals are kind to foreigners. That’s 24 percentage points above the global average of 65%, per the report. Although finding a place to live can be challenging, housing is affordable and 71% of expats are happy with the cost of living. They’re also satisfied with the career opportunities and the work-life balance.
The InterNations survey found that 90% of expats in the country are enjoying their life in Mexico. Portugal is the only other European country to make the top 10, while the others are in Asia and the Americas:
- Mexico
- Spain
- Panama
- Malaysia
- Taiwan
- Thailand
- Costa Rica
- Philippines
- Bahrain
- Portugal
For its survey, InterNations – which represents the world’s largest expat community – polled more than 12,000 people of varying nationalities living in 172 countries or territories.
Participants rated different aspects of expat life, from healthcare and safety to work culture, housing and more. Click below to see the full report.
https://cms.in-cdn.net/cdn/file/cms-media/public/2023-07/Expat-Insider-2023-Survey-Report.pdf
Leucadia Two Units
Migration Report
This must mean that Allied’s best salespeople are in San Diego!
The 2023 Allied US Migration Report presents a detailed analysis of the current trends in interstate moves across the United States, highlighting significant patterns and underlying economic factors.
This year marked another decrease in the volume of interstate moves. Following the 20% decrease in 2022 compared to 2021, there was a further 12% decline in 2023 relative to the previous year. This continuous decline indicates a notable shift in migration patterns over the last two years.
San Diego #1 in 2023
Hartford was a little higher but I never liked them much. Let’s not count them.
Carlsbad’s Inclusionary Housing Policy
The City Council unanimously agreed on Tuesday to rezone 16 properties across the city to facilitate needed housing developments and set new affordability requirements on these sites. The action rezones 16 of the 18 properties previously identified for study by the council, except the Cottage Row property on Aviara Parkway on Site 8 and the city-owned “Oak Yard” property on Site 15.
Carlsbad’s inclusionary housing policy currently requires 15% of all units in new developments to be deed-restricted as affordable. Among the rezoned sites, the council agreed to raise that rate to 40% on city-owned properties and 20% on those not owned by the city, following last month’s Planning Commission’s recommendation.
This massive effort completes several years of work and community outreach and checks off one of the largest programs mandated as part of the city’s Housing Element, which requires the city to build 3,873 new units by 2029.
City leaders warned that not completing this rezone by the April deadline would result in the city’s Housing Element being out of compliance and make the city susceptible to Builder’s Remedy projects. This state law allows developers to ignore zoning codes when constructing projects with affordable units in non-compliant cities.
Natalie Back On Tour!
Our daughter Natalie leaves tomorrow to start the next leg of the Karol G tour, which begins in Mexico City on February 8th. They have shows in Latin/South America over the next three months, then they go to Europe for another two months!
https://www.karolgmusic.com/tour-dates/
They did two shows in Medellin, Colombia (Karol G’s home town) in early December:
Julie’s Listing
NSDCC Jan. Listings & Sales, Prelim
As of February 1st, the January sales count is 103, with the median sales price at $2,275,000, which is a nice pop over the 87 sales from last month. The graph above shows how any momentum was thwarted by rising rates in October, and some relief now is probably contributing to more sales and activity locally (though the mortgage purchase apps were down 11% nationwide today).
By Monday we’ll be able to crown Joe as the winner of the Padres tickets!
Slightly more inventory is the best-case scenario for a healthy selling season. Too many new listings might cause buyers to pause and see where it’s going, but we’re not close to a surge today. A bigger threat would be running out of affluent buyers.
217 – January 2024 Listings (205 in January, 2023)
103 – January Sales so far (median sales price = $2,275,000)
42 – January Sales Under $2,000,000
15 – January Sales Over $4,000,000
$1,100,000 – Lowest-priced sale in January (a detached condo)
$18,500,000 – Highest-priced sale in January (Oceanfront sold off-market)
20 – Median Days on Market
February should be incredible with momentum increasing rapidly. The selling season is here!
Mortgage tip: For those getting a loan under $1,000,000, you can get an FHA rate in the high-5s today!
