Two offers that I made on behalf of buyers fell on deaf ears this weekend. The first listing agent pulled the usual stunt - the blackout, where he doesn't answer the phone or communicate in any way until the deal is done. Once he got the winning offer signed, he...
An excerpt from this article: https://www.usatoday.com/in-depth/money/2021/02/04/homes-sale-we-housing-bubble-prices-outstrip-wages/6671282002/ For Mark Stapp, a real estate professor at Arizona State University, what's going on in the real estate market right now is...
We've had 208 closed SFR sales between La Jolla and Carlsbad this year. How crazy is it? Eighty homes sold over the list price, which is 38% of the total number of sales. Of those, most were just $10,000 to $50,000 over list, but there were some big bombers: Most %...
Historically the market has felt healthy and balanced when we've had a 2:1 ratio of actives vs. pendings. Remember when the Ranch was 10:1 for years? Now look at the market - especially on the lower-end: NSDCC Actives and Pendings Town or Area Zip Code Actives...
With no real surge in inventory (yet), we are entering the hyper-frenzy phase now. It's an environment where most listing agents are ill-equipped to handle the pressure because they've never done this before. The only time we've been close to having insanity like this...
Showings are already 20.2% higher than they were during the first week of January, which is double what they were last year. But the NSDCC listings in January are going to be at least 20% fewer, year-over-year. Last January we had 354 NSDCC listings, and today we...
Facing an upsurge in housing demand across the country, many home buyers are finding themselves in bidding wars for the limited inventory on the market. To win, buyers are trying to find ways to entice sellers beyond price—and at times are taking it too far, real...
Another wild bidding war! This one was in Del Mar, but on the far north end off San Dieguito Dr. which isn't the prime Del Mar village area (though close physically). Usually it's the creampuffs that attract all the interest and offers, but in this case it was a...
The term 'chasing the market' usually applies to sellers in a down market when they don't lower their price fast enough to get ahead of the new listings coming on that are under-cutting them. The reverse is also true about home buyers in a hot market. Those in the...
The days of wondering how much of a discount you could get off the list price have been replaced with hoping to limit how much OVER the list price you are willing to pay. For buyers, how much to pay is relative to how well the home fits all of your needs, and how...
