~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Trying to predict what will happen to our local real estate market in the short-term? No surprise that mortgage rates will play a big role in how it plays out, and they have been extremely volatile lately. But it’s just not about affordability, and ‘losing’ buyers. They can always recalibrate by either looking at […more]
After mortgage rates went over 6% again yesterday, the doomers will be burying the real estate market over the next few months. You can see why – rates have been dropping for a generation; for them to now go up from 3% to 6% in a few months is unprecedented for today’s buyers: But having […more]
Want proof that Jay Powell has tamed the housing frenzy, and reversed the trend of buyers having to pay well over the list price to win a house? Here are examples of the list and sold prices of August home sales between La Jolla and Carlsbad – note the relationship to the days-on-market (DOML): So […more]
There may not be many more of these! At the end of the video, I promised some pricing data and of course the MLS is down tonight so if you came to see list prices vs. sales prices, check back tomorrow.
If this was just a video of Carlos and his drummer wife Cindy it would be incredible. The supporting cast really clinches it. P.S. If you are in a Mexican restaurant and the Mariachi band wants to play a song, request Oye Como Va – it’s a guaranteed hit because everyone knows it:
Yesterday’s Case-Shiller Index for San Diego was 425.26, which is 11% higher than it was in January. But check how the trend increased between January and now. Prices rose as fast as ever in early 2021 (yellow above). If they would have mellowed out along my red line, then we would have experienced slightly-increasing prices […more]
They may not be as nice as San Diego but you don’t have to spend a million either:
A good introduction to what it’s like living in Carlsbad:
An excerpt from this article: Riggins, 67, retired early from his career in construction and maintenance for the city of Richmond after a knee injury put him on disability in 2008. But, the income from his tenants helped keep him afloat. “The building was in good shape, and I had good tenants,” Riggins said. “Everything […more]
From cnbc – an excerpt: Some local markets are seeing even steeper declines over the last few months. San Jose, California, saw the largest, with home prices now down 10% in recent months, followed by Seattle (-7.7%), San Francisco (-7.4%), San Diego (-5.6%), Los Angeles (-4.3%) and Denver (-4.2%). Home prices were still 14.3% higher […more]