Frenzy Vs. Rates
May 24, 2022 |
syndicator
Good summary of today’s market conditions by Nick:
San Diego renters can breathe a sigh of relief knowing they are a little bit more secure as the city’s new eviction moratorium is now in place for renters who are up-to-date on their rent payments and abiding by the terms of their leases. “San Diego cannot afford to have one more person enter into homelessness and […more]
A remarkably original mid-century modern on an acre in Del Mar. It listed for $2,400,000 on February 26th, then the price was raised to $2,900,000 on March 8th when marked pending. The final sales price was $2,800,000:
The market’s direction will be determined by inventory, and San Diego is #1 on Bill’s list for the biggest percentage drop year-over-year. Also consider how the San Diego metro compares to others that had a similar number of new listings in April: Metro Area April Listings Metro Population People Per New Listing Boston 3,386 4.9 […more]
I went around with my Nikon (the one with the lousy auto-focus) to highlight as many of the fine features of our La Jolla listing that I could – there are many more!
It is a true honor to have listed for sale my favorite home of all-time! 365 Marine St., La Jolla 3 br/3.5 ba, 2,894sf YB: 2018 LP = $6,950,000 This custom contemporary was designed and carefully-crafted for over three years to be the ultimate beach house just 100 yards from the sand! The main living […more]
The Other Bob (TOB) suggested a blog post where he and others could ask questions. Let’s do it! Leave your questions in the comment section, and I’ll do my best to answer promptly. The comment section is moderated, so you will see your comment once I have a chance to review and approve. We are […more]
There is rampant speculation that home prices must come down to compensate for higher rates. But there is another solution. Fewer sales. We learned a couple of lessons during the peak covid days: Sellers don’t have to sell – they can wait it out. When they do, the market can survive with fewer sales. Look […more]
The new market conditions will bear some resemblance to the past, but to believe that real estate sales will be ‘getting back to normal’ some day would be full of false hope. Rob Dawg said it long ago – we need to abandon all previous assumptions. Let’s start with the two things most likely to […more]