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sdrealtor.
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March 20, 2021 at 9:24 AM #820851March 22, 2021 at 12:44 PM #820853
gzz
Participant92107 inventory up to 18 after briefly going under 10. Sales, new listings, and prices all are strong.
Tortillas Flats was a working class Mexican American area 20 years ago if I remember an old article about it correctly.
March 22, 2021 at 1:49 PM #820854profhoff
ParticipantWow! Pending in 4 days and sold for 16% over list – a cool $450k on top of list for one of the big bombers in Encinitas Ranch. It’s my impression that ocean views can basically name their tunes. (cf Fulvia which still has our collective heads exploding)
March 22, 2021 at 4:36 PM #820855DaCounselor
ParticipantFantastic thread.
I’ve been bullish on SD coastal RE for about 30 yrs and believe for much of that period it’s been a pretty good value. How would I describe it now? I would just plagiarize from you all on this thread who have used the following adjectives:
Stunning
NUTS
Ridiculous
Relentless
Astounding
Skyrocketing
Crazy
Insane
Shocking
RagingYeah, that about sums it up.
Also, unsustainable in my view, but when and how will it end? You got me.
It’s a beautiful place with an amazing lifestyle, glad to have my piece(s) of the pie. Share the sad sentiment of families being priced out. Sad to see friends depart for OR, AZ and TX. But like Stovetop Stuffing, I’m stayin’.
Keep the thread going its a good one!
March 22, 2021 at 5:04 PM #820856sdrealtor
Participant[quote=gzz]92107 inventory up to 18 after briefly going under 10. Sales, new listings, and prices all are strong.
Tortillas Flats was a working class Mexican American area 20 years ago if I remember an old article about it correctly.[/quote]more like 30 + years but still is to some extent. They leave one by one but very slowly
March 22, 2021 at 5:06 PM #820857Participant[quote=profhoff]Wow! Pending in 4 days and sold for 16% over list – a cool $450k on top of list for one of the big bombers in Encinitas Ranch. It’s my impression that ocean views can basically name their tunes. (cf Fulvia which still has our collective heads exploding)
$3M in ER boggles the mind. Dont know what more to say but this much demand at these prices cant be coming from locals. It just cant
March 22, 2021 at 5:08 PM #820858Participant[quote=DaCounselor]Fantastic thread.
I’ve been bullish on SD coastal RE for about 30 yrs and believe for much of that period it’s been a pretty good value. How would I describe it now? I would just plagiarize from you all on this thread who have used the following adjectives:
Stunning
NUTS
Ridiculous
Relentless
Astounding
Skyrocketing
Crazy
Insane
Shocking
RagingYeah, that about sums it up.
Also, unsustainable in my view, but when and how will it end? You got me.
It’s a beautiful place with an amazing lifestyle, glad to have my piece(s) of the pie. Share the sad sentiment of families being priced out. Sad to see friends depart for OR, AZ and TX. But like Stovetop Stuffing, I’m stayin’.
Keep the thread going its a good one![/quote]
Hey neighbor hope you are enjoying the hood. One thing I will say is having been here for 22 years now, seeing friends leave for elsewhere is nothing new. In 04 and 05 my kids and I lost many from here who moved back home or somewhere nice but cheaper. For some the temptation of the “max profitz” are just too big to ignore.
March 23, 2021 at 5:39 PM #820859ParticipantLOL. One good sale deserves another. Coming soon – the single story on Fulvia! barely a view. A steal at $3.89m. Seller paid $2.063m May 2019. HAHAHAHA
https://www.zillow.com/homedetails/356-Fulvia-St-Encinitas-CA-92024/318293976_zpid/March 23, 2021 at 9:08 PM #820860ncsd760
ParticipantGood GOD is this comical. And not even nice landscaping….
I may be biased since I always had a soft spot for Lynwood houses and didn’t quite have the means to get one at the time, but that one that sold was beautiful inside. $3.25 M beautiful, however? I don’t think so.
March 23, 2021 at 9:24 PM #820861Participant[quote=profhoff]LOL. One good sale deserves another. Coming soon – the single story on Fulvia! barely a view. A steal at $3.89m. Seller paid $2.063m May 2019. HAHAHAHA
https://www.zillow.com/homedetails/356-Fulvia-St-Encinitas-CA-92024/318293976_zpid/%5B/quote%5DThere is nothing hotter than a one story with a view. Nothing! It’s why Spinnaker Hill Prime lots are so coveted.
Bear in mind, even though it closed in May 2019 it likely was under contract a year or so earlier
March 23, 2021 at 10:09 PM #820833ParticipantWelcome to broken record Tuesday here also
New listings 29 – nice to see us get back up to a more reasonable level but nowhere close to what we need
New Pendings of 30 – no slowing in sight!
Thats a -1 for the week.
Closed sales at 18
Price reductions at 4 (pretty much all high dollar stuff that was hard to price)
Total houses for sale back to 52 with median of $1.99M.
A couple thoughts. First as much as I love talking about real estate, I love talking NCC my home for the last 25 years even more. Thanks to the posters profhoff and ncsd760 for joining in the fun and bringing the local color. It is appreciated.
Second, it does seem like we are starting to get a little more inventory particularly on the lower end. Nothing I can put my finger on specifically but just a sense from pouring over the data every day. It would be nice for that to continue and show up in the data too.
As I look over data its rare to see a house sit on the market more than 7 days or to not sell over asking price. Its just that kind of market with no end in sight.
Last, I work all over SD and have to say of everywhere I work we have the best group of agents up here. There are many competent, ethical and expereinced agents up here which I cant say for everywhere. Really the best of the best from my experience
And a quick p.s. If there is a market as hot as the NCC its the 4S/Del Sur market. That one is nuts also
March 23, 2021 at 10:24 PM #820862ParticipantUpdate time and Im in a very good mood! Saw a realtor friend touring a nearby property very close to me with the homeowner and Id love to have a new, different neighbor there:)
New listings 23 – big drop in new listings
New Pendings of 36 – no slowing in sight!
Thats a -13 for the week.
Closed sales at 16 – suffering from lack of inventory
Price reductions at 6 (pretty much all high dollar stuff that was hard to price)
Total houses for sale 49 with median of $1.709M. A lot of higher price stuff sold last week which pulled the median down.
(Footnote:last week I originally reported 42 last week and that was a typo I fixed as it was 52)
Lack of inventory continues to be a big problem here and everywhere. Anecdotally im seeing signs that more is on the way near me between coming soon listings and my grapevine. Owners are taking note of these prices and it should continue shaking more loose. Nothing would make me happier than seeing one in particular change hands.
In another sign of how much things have changed up here, in the last week 2 homes sold for $3M and 2 more for $4M! Even more astounding 3 homes hit the market in Encinitas this week with asking prices of $6.9M, $7.9M and $8M. There’s another at $6M about to hit the market.
March 24, 2021 at 7:54 AM #820864evolusd
Participanthttps://www.zillow.com/homedetails/7008-Mimosa-Dr-Carlsbad-CA-92011/16657097_zpid/
$791/sf – insanity. I don’t understand the pricing of this pocket of homes.
Just north across Aviara where I live the 90’s vintage homes go for around $400/sf (much bigger so I get a spread in ppsf, but not this much). https://www.zillow.com/homedetails/6956-Mimosa-Dr-Carlsbad-CA-92011/16658205_zpid/
March 24, 2021 at 9:42 AM #820865ParticipantSold one there last year for a friend that I was able to help move up big time crossing aviara parkway. Went from about 2000 SF on a busy street no view to well over 3000 sq ft on quiet cull de sac overlooking one of the signature golf holes. And I did it with a contingent offer, impossible now but still basically a miracle then. That’s one of my top five most memorable transactions
The answer is land. About 70% of values around here is in the land so ppsf calculations are often a folly. Bigger lots unencumbered by an HOA. Makes it unique in aviara and the location is next to the lagoon which people love to walk. May head over myself today to do just that!
March 24, 2021 at 9:46 AM #820866The-Shoveler
ParticipantUnintended consequences,
IMO Fastest way to lose home value is HOA.
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