We can use the SP:LP ratio to gauge how hot the market is. Last year, the ratio was flat heading into the selling season, with February being right at 100.1%. Last month was already up to 103.6%, which is incredible for this early in the year! We just had the hottest...
The new listings of 2022 are only trickling out, but we know that there can be spurts. We're seeing one underway in Encinitas Ranch, where five listings are hitting the market this week! The three Coming-Soons will all change to active listings on Saturday. Buyers -...
During the inspection of the fixer in Olde Carlsbad, it was determined that further investigation was warranted due to the slope in the floor. A geologic engineer came out with his fancy altimeter and found that there was a 5-inch difference between the foundation...
Yesterday, Derrick discussed the macro-economic forces that will affect real estate for years to come:
Another update on the forbearance exits. Nobody is going to get foreclosed in North San Diego County's coastal region, mostly because of the ample equity position every homeowner has in place - but those positions could cause them to sell. Won't the homeowners be...
To provide some transparency on the deal-making on the street, here's a review of properties that have gone pending this week. I didn't intend to make a blog post out of it, but I had inquired about the availability of these listings, and for my own knowledge I like...
Hat tip to Ryan for his excellent job documenting the real estate frenzy underway in the Sacramento area: http://sacramentoappraisalblog.com/ Susie says the Boise market is on fire, Noodle said that every house in North Phoenix sells in 3-4 days, home prices in Austin...
Previously we experienced a healthy market when actives outnumbered pendings 2:1. Then as the market heated up, we got used to the 1:1 ratio. Now we have areas where the ratio is more than 1:2! NSDCC Detached-Home Active and Pending Listings Town or Area Zip Code...
San Diego County has 3.338 million people, plus more affluence arriving daily. There is 27.5% of the SDCo population that is under age 18. 3,338,000 x 72.5% x 7.6% = 183,923 millionaires in SD County! You can imagine the horsepower that homebuyers are up against -...
I love hearing from new readers! Hi Jim, I have recently stumbled upon your blog and find it very interesting as I am an appraiser in San Diego. I wonder if anyone has considered that the low inventory levels are in part because home prices are going up so fast why...
