Yesterday, I had two similar occurrences take place so it must mean I should address it! This comment was left here on the blog: I just wanted to thank you for your bidding war info. I have followed your blog for many years. We listed our house in Ramona last week and had open house […more]
A remarkable achievement considering that Compass has only been a nationwide company for 3-4 years. It will matter more later too. CoStar is going to change the search-portal landscape, and if they spend enough advertising money to get all the eyeballs, the buyer-agents will be cooked. Unlike Zillow and Redfin who encourage viewers to contact […more]
The Mortgage Bankers Association (MBA) released its latest mortgage application numbers this morning and the modest movement belies the drama unfolding in the world of mortgage rates. As usual, the MBA does a good job of capturing average rate movement week to week and they correctly identified last week’s big spike to the highest levels […more]
I spoke with Jordan at the San Diego County Tax Assessor’s office about their Prop 19 processing. He said they have received about 1,000 requests since Prop 19 went into effect last April 1st, and have completed about half of them. He said there is a backlog of 6-9 months because they are appraising/analyzing every […more]
Currently, the entry level for Carlsbad houses is around $1,200,000, so when this one first hit the market at $1,119,000 you can bet it stirred up the frenzy! They raised the list price to $1,199,000, but it didn’t slow anyone down. The agent received 28 offers, and they countered the best five. It closed for […more]
Rates matter. We gave credit to the ultra-low rates when they were in the 2%-range for helping to create the frenzy. Likewise, higher rates will have something to do with the way the market turns out in 2022. It’s not because the payment are so much different. When the rate changes from 3.0% to 3.85% […more]
The hype around real estate is nothing short of a feeding frenzy and brings back memories of 2006 to 2007 when all caution was thrown into the wind. Even though sales volume is low, and inventory is historically low given growth and demand, many people are jumping at the chance to become a real estate […more]
I guessed that we’d have 5% more NSDCC sales this year because I expected a surge of delayed sellers who would finally come to market in order to cash in on the record pricing. But it’s not happening, at least not yet. The number of NSDCC listings for the first two months of the year […more]
The TinyFest comes back to the Del Mar Fairgrounds this weekend, starting at 10am. I’ll be in search of ADUs that can be fully installed at home for a reasonable cost – here was my tour from 2020: https://www.tinyfest.events/at-the-festival-san-diego-2022/