North County Coastal monitor

[sdrealtor]

[quote=gzz]I suppose now a hot new japanese CUV model at msrp might not be great. 6 months ago, it certainly was. The rav4 was consistently going for 5k over msrp.

I got premium awd. Basically the top non-turbo spec. I wanted specifically either a bright red, blue, or green car with white or light tan full leather.

Cx30 is a new and lower volume model than cx5 which is by far the most popular mazda.

2k under msrp just wasn’t happening, especially if you want a specific combo in a hot segment, and japanese make in California. I could have got $500 off, but the 36 month 0% was worth much more, about $1800 if my alternate investment is a tax free muni fund at 4%.

I first went to the Kearney Mesa dealer, which subsequently closed for renovations.

They had -40 CX5s in stock, and 0-4 of every other model. It was surreal.

The National City dealer I went with wasn’t quite as extreme, but still half of inventory was cx5, with a smattering of 3 sedans, 3 hatches, and less than 3 each of cx9, cx3, and mazda 6 sedan. Both places had zero cx30 in stock when I visited.

I feel that 2022 MSRPs went up and chip shortages lessened, so the giant premiums went away. Though my vehicle specifically didn’t seem to get much if a msrp bump, and they made awd standard.[/quote]

You actually go to the dealer? I thought you were a millenial

[Coronita]

[quote=sdrealtor]Unless your name is Frank and you have a Porsche. Then its ok LOL[/quote]

…If you’re Frank from Piggington, you will never own a Porsche, because every time you put an order or deposit down for a Porsche, something will happen and give you an excuse to derail that plan and go cheap… like the availability of short sale property or two…

Plus Frank can not afford breaking Porsche transmissions and regularly replacing Porsche tires that Frank can do to miatas, which still is painful to the wallet, but not anywhere near the level of pain inflicted if that were to happen on a P-car. Some cars are meant to be raced, not flexed….And when they are raced, drivers needed to be prepared to write them off completely in the worst case scenario…Frank isn’t ready for that.

Some P-cars that frank would want to race, you cannot easily change the tires in your own garage with all the cool tools…….
Center lock wheels:

[profhoff]

OK, piggs. Are your minds officially blown yet? This C’bad big bomber just closed for $1m over list. Yup. ONE MILLION DOLLARS over list.

https://www.zillow.com/homedetails/3554-Camino-Arena-Carlsbad-CA-92009/16730132_zpid/

[sdrealtor]

[quote=profhoff]OK, piggs. Are your minds officially blown yet? This C’bad big bomber just closed for $1m over list. Yup. ONE MILLION DOLLARS over list.

https://www.zillow.com/homedetails/3554-Camino-Arena-Carlsbad-CA-92009/16730132_zpid/%5B/quote%5D

It’s not the first. The one story in ER did also. This one was exceptionally upgraded. As big a story $1m over list is, I think the bigger story is $4m for a tract home albeit an over the top one in the best neighborhood of its kind here

If you missed it the bidding war on the $7m Gascony house is right up there also

[flyer]

Agree, the gains, especially in the past couple of years have been mind-blowing. Like everyone, we’re up substantially on our properties, and even our primary in rsf, which had been fairly flat prior to the pandemic
boom–has seen some gains–especially when compared to what we originally paid.

No question this is all phenomenal, and those who have been invested for quite awhile have nothing to be concerned about, but, it will be interesting to see if real estate takes a hit going forward. If you listen to the pundits–it’s looking that way, but, who knows–guess we’ll have to stay tuned.

[Coronita]

I feel bad with all these very wealthy people moving here , I totally emphasize with flyer who has for awhile now been knocked out of the top weathy class of people of San Diego. It’s ok to lose exclusivity and be average Joe, flyer..On the bright side, you no longer need to keep up with the Joneses..Life should be a lot easier for you now.

[flyer]

We’re thrilled to have many very wealthy people moving to San Diego–the more the merrier–all loving life as usual:)

[scaredyclassic]

[quote=flyer]We’re thrilled to have many very wealthy people moving to San Diego–the more the merrier–all loving life as usual:)[/quote]

Those mega evangelical churches aint gonna support themselves. Bring on the richristians.

[flyer]

To each, his or her own wrt to their chosen expenditures, scaredy. If that is someone’s choice, that’s their choice. I’m sure there are worse things.

Also, I’ve never mentioned any concerns wrt our net worth in comparison to others, or being knocked out of the top wealthy class. Like most people on this board, it continues to grow more than we ever expected, so we should all be thrilled with that, as should all of the wealthy newbies moving to our area, and we should welcome them with open arms. Hopefully, they will contribute to sustaining our city at a level we may never have seen before.

We have friends and family who have less, and those who have more than we do–including a couple of billionaires–and neither situation has anything to do with the depth of the wonderful relationships we have built with these people over the years.

At any rate, my original post was simply to acknowledge the comment below wrt how mind-blowing the current state of the real estate market is in many locations in San Diego:

“OK, piggs. Are your minds officially blown yet? This C’bad big bomber just closed for $1m over list. Yup. ONE MILLION DOLLARS over list.”

The end.

[Escoguy]

[quote=flyer]To each, his or her own wrt to their chosen expenditures, scaredy. If that is someone’s choice, that’s their choice. I’m sure there are worse things.

Also, I’ve never mentioned any concerns wrt our net worth in comparison to others, or being knocked out of the top wealthy class. Like most people on this board, it continues to grow more than we ever expected, so we should all be thrilled with that, as should all of the wealthy newbies moving to our area, and we should welcome them with open arms. Hopefully, they will contribute to sustaining our city at a level we may never have seen before.

We have friends and family who have less, and those who have more than we do–including a couple of billionaires–and neither situation has anything to do with the depth of the wonderful relationships we have built with these people over the years.

At any rate, my original post was simply to acknowledge the comment below wrt how mind-blowing the current state of the real estate market is in many locations in San Diego:

“OK, piggs. Are your minds officially blown yet? This C’bad big bomber just closed for $1m over list. Yup. ONE MILLION DOLLARS over list.”

The end.[/quote]

Was toying with the idea of listing one. Just for risk management, but when I see offers coming in 200K above list, then 1M, I realize even more may be happening beneath the surface than I realize.

FYI: Apple is doing more in Rancho Bernardo.
A company like that can create it’s own weather.

[flyer]

Hi Esco, nice to hear from you. Hope all is well.

Totally understand the temptation to sell in this market, and I’m sure you’ll do whatever you feel is best. There are many new factors that are creating a market we have never seen before, so it’s new territory for all of us, and risk should always be a concern to some degree.

Have heard about various commercial developments from my son who has his finger in many pies here and elsewhere. Apple and other projects will definitely be great for the area, and there seems to be quite a bit of development going on around various places in town.

Back in the day, when commercial was hot in San Diego, we were heavily involved, and those were very exciting times. Got out of most prior to any downturns, but still have a few that are doing well.

All the best!

[scaredyclassic]

Ah

[sdrealtor]

New listings 18 (19) – still havent hit 20 yet

New Pendings of 15 (37) – thats a good size drop from last week

Thats +3

Closed sales at 45 –

Total houses for sale 34 (55) with median of $2.17M ($1.995M)

The numbers are still much the same but Im starting to feel a slight change. Recent sales have come in 200 to 400K above asking and rather then listing a little low and letting the buyers bid things up, I get the sense the new listings are pushing a little harder than they should on price. That could slow things down a little bit which wouldnt be the worst thing. Something i’ll be watching.

The attached market in S Carlsbad is roaring in a way Ive not seen before. Listings dropped back but pendings still high. Nothing sits on the market more than a week or two anymore. More and more Im feeling the SFR capitulators at work here.

[sdrealtor]

Im feeling the winds of change here. Still to early to say for certain but balance seems it may have shifted abruptly for now.

New listings 29 (19) – we blew by 20 this week.

New Pendings of 19 (28) – increase from last week but thats a good size drop from last year. Could be tax season slow down but we should be seeing 30+ soon. We’ll know in a couple weeks for sure

Thats +10

Closed sales at 26 –

Total houses for sale 51 (61) with median of $2.35M ($1.995M)

The slight shift I felt last week followed through and increased. Saw a nice jump in new listings. A bunch of them at what appear to be even crazier unrealistic numbers then weve been seeing.

Its been almost 2 years since new listings were 10 or more than pendings. Inventory jumped up close to last year and should be above last year next week. If pendings dont pick up and listings stay at current level we will get back to a balanced market by the end of June.

I could be wrong but i’m gonna call this the week that the extreme sellers market shifted. Nothing indicates a crash or even decline but the insane party for sellers looks to be over. In two weeks we should know better after we see what happens next.

Looking at the lower priced attached market that still seems to be red hot for now. Will keep an eye out on that also

[matt]

I own a rental on this street in La costa oaks. At the end of the street are power lines. Yet this one sold for 3.1m (700k over asking). Insane.

https://www.redfin.com/CA/Carlsbad/7393-Sitio-Lima-92009/home/7488506?600390594=copy_variant&231528114=control&1778901559=control&utm_source=ios_share&utm_medium=share&utm_nooverride=1&utm_content=link&utm_campaign=share_sheet

[Author]

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