Are you waiting to buy a home until you can get a sizable discount? Is it because you know a guy who will give you a deal on any home improvements needed; you’ve got your eye on some new appliances down at the scratch-and-dent outlet; and you were thinking about going through Redfin until you […more]
The final accuracy of any guess on appreciation doesn’t matter. We all know that they are just guesses. What matters is whether home buyers and sellers will make decisions today, based on what they read. If I keep showing data and forecasts that show pricing isn’t tanking between La Jolla and Carlsbad, would it cause […more]
One of my favorite Compass agents went all out today to promote her new $15,000,000 listing – the MLS remarks: If these walls could talk, they would speak of the fact that this estate was built by a US ambassador to Italy as a summer home for he and his family with many materials imported […more]
Billy is a minister and he married a couple back stage right before Saturday’s show (I saw the photo), then cranked out a great set – here’s how it started for those of you who missed it:
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 exceeded the number of sales, and in the […more]
This Encinitas Ranch home was listed for $3,499,000 on March 29th – which was the week rates started going up – and had no price reductions. After 112 days on the open market, they found a buyer who closed in less than 30 days (Sept.12th) for $3,390,000 cash, which was 3% under the list price. […more]
The latest CPI number is out today, and the over-reaction will put more pressure on mortgage rates. They are probably going to be around the 6% range for the foreseeable future. Let’s predict the NSDCC monthly sales count for the rest of the year. Today, we have 411 active listings, and we are back to […more]
We opened escrow today on my first contingent sale in 2+ years – where my buyer has to sell their home to purchase the subject property. There were two offers submitted – and BOTH were contingent upon selling another property! Thankfully, the house we’re going to sell is a single-level home in Aviara, which was […more]
The market has hit a rather significant wall in the last few months as the Federal Reserve has decided that there is no longer any containing inflation from the public, no matter how much economist and financial wizards try to massage the data. The correction was largely inevitable as the US economy fell in love […more]
If rates would stay around 5% over the next four quarters, the market should digest it and get comfortable with the new era. But how reliable are these experts? After all, they are the mortgage business – shouldn’t their forecasts be pretty close? Well, hmm, no: