13404 Stone Canyon, Poway
4 br/2 ba, 1,512sf
YB: 1958
0.52-acre lot
SP = $1,420,000 – we represented the buyers.
We survived another vigorous bidding war among eight buyers to prevail in winning this gem in the country! The half-acre lot filled with citrus trees makes the imagination go wild with the possibilities here in Green Valley, where 31 homes have sold for $2,000,000 – $5,000,000 in the last two years!
City officials hosted a community meeting on Saturday for the public to weigh in on three design concepts for Robertson Ranch Park.
“A Walk Through 3 Parks” took place from 9 a.m. to 1 p.m. on Feb. 10 at the Carlsbad Faraday Administration Center at 1635 Faraday Avenue, according to city officials.
Residents were encouraged to stop by for a “choose your own adventure” walk-through at three information stations focused on each of the park’s design concepts.
According to the city, residents had the opportunity to “meet and speak with the park design team, learn how they took inspiration from Carlsbad’s natural landscape to create designs that reflect the community’s priorities, ask questions, share ideas and let us know where we got it right and what you would like to change.”
The three potential design concepts for the park were agrarian tapestry, community quilt and rolling hills. All three design concepts come equipped with multi-use sports fields, restrooms, concession stands, pickleball courts, a buffer for nearby homes, a walking/jogging track and a 115-space parking lot.
Each concept will have slight differences in design related to the concept’s theme.
The park’s final design will be decided at two community meetings and through an online survey. Then, a final presentation will be scheduled for the City Council’s approval later in the year.
Depending on popular demand, the final design could be one of the three design concepts or a mesh of all three. The final design is not limited to the scope of one concept. “Based on other park planning processes, the final design usually ends up being a combination of the favorite elements of each design,” the city said.
This was the first meeting for the public to physically weigh in on the new design, with a virtual walkthrough meeting from 6-7:30 p.m. on Feb. 15. Register here to get the link.
The online survey can be found at www.surveymonkey.com/r/RobertsonRanchPark.
https://thecoastnews.com/carlsbad-shares-new-design-concepts-for-robertson-ranch-park/
The Super Bowl is done, and the 2024 Selling Season is under way!
Judging by the graph above, this year will be as hot as last year!
Look at the consistency this year too:
NSDCC Weekly New Listings and New Pendings
Whenever we have 125 new listings, and 99 are going into escrow too, it’s about as healthy as it gets.
How does the market keep levitating?
The number of U.S. dollar millionaires has risen sharply since the beginning of the 21st century.
In 2000, there were 14.7 million millionaires worldwide, a fourfold increase in twenty years (300 percent). If we compare this figure with the fight against extreme poverty, the number of people below the global poverty line – which today stands at $2.15 a day – has declined at a much slower rate. At the turn of the century, there were 1.7 billion people living in extreme poverty, compared with around 700 million today, a drop of around 60 percent.
The United States is home to by far the largest contingent of dollar millionaires: 22.7 million in 2022, representing 6.7 percent of the country’s population. Next on this list is China with 6.2 million (0.4 percent of the population), while France completes the podium with 2.8 million (4.2 percent of the population).
https://www.statista.com/chart/30671/number-of-millionaires-and-share-of-the-population/
Back in October, an oceanfront Del Mar house sold for a whopping $44.1 million, sending shockwaves through the quietly posh Southern California beach town and setting a new record for the most expensive San Diego County home ever sold. The out-of-left-field, off-market transaction came even as the San Diego real estate market has effectively stalled over the past year, with the deal pipeline choked by high interest rates, recession fears and low inventory. And the transfer also eclipsed Bill Gates’ recent $43 million purchase of an arguably more impressive house on the same strip of sand.
Property records indicate the $44 million house was purchased by a mysterious Delaware-based LLC, a common business tool used by the wealthy to cover their real estate tracks. But it’s certainly worth noting that the mysterious entity is managed by a longtime associate of Egon Durban—the high-flying, billionaire Silicon Valley dealmaker who has a known affinity for both record-breaking transactions and high-end real estate. Durban, the co-CEO of private equity giant Silver Lake, sports a personal net worth that tops $1.5 billion, according to Forbes.
Since the house was never on the market, photos are virtually nonexistent and details are few. But certainly the vast majority of its value lies in its oceanfront location—the property spans just over an acre of flat land, right on the sand—rather than the structures themselves. The main residence is unremarkable, large and well-maintained but visually dated. The property was built decades ago by prominent Hollywood real estate developer C.E. Toberman, founder of Grauman’s Chinese Theatre and the Hollywood Bowl, and remained in the extended Toberman family until Durban’s purchase.
In addition to the U-shaped main house, which is single-story and painted a deep navy blue, there are two ancillary buildings on the property. Each of those includes a two-car garage and additional living space, likely for guests or live-in staff. The oceanfront compound also boasts a full-size tennis court—a very rare thing on the shores of Del Mar—and a gated, blacktopped driveway with off-street parking for dozens of cars. There’s also an outdoor swimming pool, plus a sizable backyard with a grassy lawn and a wooden deck with stairs descending to the sandy beach. Altogether, the estate sports eight bedrooms and 7.5 bathrooms.
https://www.yahoo.com/lifestyle/private-equity-billionaire-paid-record-220000121.html
Our Cedarcrest listing hit the open market on January 25th, and we recieved NINE offers! I gave all of them a chance to bid it up, and ten days later, our sellers had their net proceeds in their account!
They moved to Portugal, and yesterday they reported that the weather is similar to what it is in California, and his favorite cup of coffee only costs seventy cents!
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
You’ve saved and invested your whole adult life for this, and the time has come to quit working and start living. But where will you spend your retirement years?
If you decide the answer is abroad, you won’t be alone. Millions of Americans have done just that. Some experts estimate that as many as 12% of the nation’s 45 million or so retirees are living overseas.
There are a lot of incentives for such a move: a lower cost of living for a higher quality of life, for instance. New experiences in exotic settings. And there are any number of locales willing to up the ante to have you choose them as the golden isle for your golden years.
https://www.fool.com/retirement/2023/11/06/these-3-countries-have-amazing-incentives-for-reti/
Editors know that there isn’t anything more eye-catching in real estate than talking about people losing their home. In California, lenders are required to offer every delinquent homeowner a loan modification before being able to foreclose, so those who want to keep their house will likely find a way to do it. Judging by the graph above, very few homeowners are giving it away!
Despite the declining rates and the robust economy that characterized the U.S. during the fourth quarter, the Federal Reserve’s pursuit of lower inflation has proven to be an obstacle for the American housing market.
The consequence of that pursuit, which pushed up borrowing costs on U.S. households, is a 16 percent year-over-year surge in mortgage delinquencies (60 days past due), according to TransUnion’s fourth-quarter Credit Industry Insights report, exposing the growing struggle of consumers in the face of evolving macroeconomic uncertainties.
TransUnion’s report, produced from billions of updates received each month from banks, credit unions, finance companies, auto dealers, mortgage companies, retailers, student loan providers and public records, found that a total of 1.3 percent of all consumer-level mortgages in the U.S. were in serious delinquency in the fourth quarter of last year.
With roughly 84 million mortgages active in the U.S., according to data from LendingTree, that would mean about 1,092,000 Americans are more than 60 days past due on their mortgages.
While that may seem alarming to some, it isn’t nearly as bad as what happened in the aftermath of the great financial crisis (GFC) in 2008, according to Michele Raneri, vice president and head of U.S. research and consulting at TransUnion.
“We’re still in a pretty good spot, especially when you’re looking at 60 days past due,” Raneri told Newsweek during an interview on Wednesday. “So it has inched up a little bit, but it’s still not come back to what would be considered pre-GFC or probably even pre-pandemic.”
Asked whether or not the slight uptick is of concern, Raneri said, “I don’t think so. Of course, people in the industry are watching it to see if it’s becoming a bigger problem, but I don’t think that it’s something that is an indication of a bigger problem.”
She continued that the delinquency issue is not a “systemic” problem reflective of the GFC, partly due to stricter lending standards, and that back in 2008, people had “so little equity in their homes.”
Read the full article here:
On Monday morning, these were the counts of active and pending listings between La Jolla and Carlsbad:
Actives: 312
Pendings: 149
This morning, the counts are:
Actives: 286 (-26)
Pendings: 164 (+15)
These are pre-Super Bowl numbers and it’s been pouring rain for a week!
What’s going to happen once we get into the more-traditional selling season of March, April, and May?
These blog posts are uploaded onto my LinkedIn page, and it was there yesterday that Carl asked what my crystal ball said about pricing this year.
It’s going to keep going up!
The houses that aren’t well presented and are sloppy on price are going to sit. But those that have something special about them, and/or are presented well and have an attractive price are going to find a buyer in the first week or two.
NSDCC Supporting Data:
2023 Median List Price: $2,199,000
2023 Median Sales Price: $2,157,500
January, 2024 Median List Price: $2,200,000
January, 2024 Median Sales Price: $2,275,000
The median list price of today’s 164 pendings: $2,499,950
Some buyers are getting deals, mostly on the scratch-and-dent homes where sellers and listing agents didn’t do much, if anything, to prepare the home for sale. But look at the January median sales price – it’s higher than the median list price!
Here we go again!
We are already on our way to a +10% increase in pricing – and it’s only the first week of February!
This band epitomizes the L.A. punk scene of the late 70s and 80s…and 90s, and ever since. There will be another very special show this year or next:
