This sold for $4,488,000 after 76 days on the market, which was $400,000 under the original list price (and $100,000 under the list price at time of sale). It is the second highest-priced sale ever of an attached home on the beach in Carlsbad!
The July stats have been updated on these interactive graphs of the 92009 (SE Carlsbad), 92024 (Encinitas), and 92130 (Carmel Valley) markets: We hear how the inventory has exploded, but compare it to history: Sales during the 2022 selling season have been similar to February/March numbers: It’s good to see the insane-bidding-over-the-list-price has slowed: We’ve […more]
There are still some head-scratchers out there. This just closed on Friday for $3,400,000 – which was $10,000 over list – but it looks like a fixer inside and out compared to the only other Bressi Ranch house to sell above $3,000,000:
Now that buyers are being more cautious, we’ve seen how important it is now for sellers to spruce up their home and list for an attractive price. A third component is to not think that there are two in the bush that are going to offer hundreds of thousands over the list price – it’s […more]
Thank you Natalie for correcting me on yesterday’s blog post – the second half of 2022 is well under way! Sales won’t drop to zero over the next five months because people need to buy and sell, and hopefully all will be more diligent about the process and who they hire. Here’s the story/ad-copy about […more]
The second half of 2022 starts next week. Where do we go from here? Things we can expect: Sales are dropping and will likely be lower for 1-3 years. Mortgage rates aren’t going back to 3%…..but they might hang around in the 4s. Until the capital-gains tax is drastically reduced, long-timers want to stay put. […more]
Check out our new listing in Davidson’s Starboard neighborhood of La Costa Oaks! 7535 Circulo Sequoia, Carlsbad 5 br/3.5 ba, 4,0000sf YB: 2005 LP = $2,295,000 https://www.compass.com/app/listing/7535-circulo-sequoia-carlsbad-ca-92009/1100461029264524393 The original owner of this premier Plan 2 was the CFO of Davidson Communities, and added over $100,000 in custom upgrades you probably won’t find anywhere else. The […more]
The Fed did what they said they were going to do and raised their fed funds rate target by another 0.75%. What happened to mortgage rates? They went down! Read the story here. Yes the -0.01% isn’t much, but didn’t every casual observer think mortgage rates were going to rise again? That we were heading […more]
Last week, we saw here how the number of July sales has been plummeting, and with three days to go in the month, we are now at 119 NSDCC sales – which means we will end up with around 40% to 50% of last year’s July sales. We also hear about how inventory is rapidly […more]
The traditional spread between the 10-year Treasury Yield and the 30-yr fixed mortgage rate has been 1.75%. Today it is 2.7%, which sure makes it look like the next Fed increase is already priced in. This week, we will see if mortgage rates will moderate and stay in the fives after the Fed bumps again! […more]