Last year’s frenzy was crazy because of the volume – there were enough listings to drive sales higher than usual. This year we don’t have as many listings, and it is driving the pricing to astonishing heights: NSDCC Sales and Pricing, April Year NSDCC Detached-Home Sales Median LP Median SP SP:LP Ratio 2015 284 $1,100,000 […more]
This house is on a 1.06-acre lot and fixers in this area have been hot, so I guess that’s enough reason to pay over list. I’m sure they will get the last laugh when they build 2-3 houses and sell them for $8 million each.
The big concern for long-time homeowners today is having to pay capital-gains tax on the net profit that’s ABOVE the exempted $500,000 for married couples. While the 2-out-of-5-year rule that was passed in 1997 is due for some adjusting, there haven’t been any indications that the politicians will re-visit the issue. What can homeowners do […more]
Yesterday we saw how the NSDCC active listings shot up from 224 to 256 in one week! The count was at 190 just a month ago. But to keep it in perspective, let’s compare it to previous years: NSDCC Active & Pending Listings, First Week of May Year NSDCC # of Active Listings NSDCC # […more]
Rates are getting so far ahead of where they should be that there should be some relief once the Fed bumps their fed-funds rate by one-half percent this week. But we’ll probably end up touching 6% in the next 1-3 months. From the MND: The hits keep coming for mortgage rates in 2022. Not since the […more]
At some point over the last 6-12 months, Zillow started revising their zestimates higher – way higher! It has been noticed too, and now virtually every potential seller brings their zestimate to the table, and expects to list their home for that amount……or more. But in the latest Zillow forecasts by zip code, they have […more]
A lady built this gorgeous coastal home with big ocean view and then unfortunately passed away. Once this sale closes, the entire proceeds will be given to the Rancho Coastal Humane Society: https://www.compass.com/app/listing/2361-oxford-avenue-cardiff-by-the-sea-ca-92007/1030482827149948177
It would be natural to assume that the insanity will settle down and buyers will stop feeling the need to drastically overpay, but who knows? The desperation isn’t going away.
I don’t care what color he’s seeing, if he sells his tony golf-course estate today and thinks he will buy it back later for less, he will be in for a rude awakening. Without foreclosures (now mostly outlawed in California) causing banks to give away homes, there won’t be any more downturns or cycles. But […more]