People still buying at full price

[amy]

I’ve had my eye on a property at 1687 Fisherman Dr in 92011 for several months now and was just told by my agent that it is now pending. According to the listing agent, the seller accepted an offer of just over $1.4 (listing price was recently dropped from $1.429 to VRM $1.395-1.430) on New Year’s Day. The house has been on the market for over a year, so I am surprised that it would go now and VERY surprised that the offer was so high. I’d be interested to hear what you all think & if you are still seeing full-price offers, even in this market.

[kewp]

Foreign buyer?

[kewp]

Foreign buyer?

[kewp]

Foreign buyer?

[kewp]

Foreign buyer?

[kewp]

Foreign buyer?

[mrwrong]

Don’t always believe what the listing agent tells you. I’m not saying the agent is lying here. He/she is probably doing his/her job trying to solicit another offer in case the current one falls through. In any case, you will find out the final sale price in a few weeks.

Mr. Wrong

[mrwrong]

Don’t always believe what the listing agent tells you. I’m not saying the agent is lying here. He/she is probably doing his/her job trying to solicit another offer in case the current one falls through. In any case, you will find out the final sale price in a few weeks.

Mr. Wrong

[mrwrong]

Don’t always believe what the listing agent tells you. I’m not saying the agent is lying here. He/she is probably doing his/her job trying to solicit another offer in case the current one falls through. In any case, you will find out the final sale price in a few weeks.

Mr. Wrong

[mrwrong]

Don’t always believe what the listing agent tells you. I’m not saying the agent is lying here. He/she is probably doing his/her job trying to solicit another offer in case the current one falls through. In any case, you will find out the final sale price in a few weeks.

Mr. Wrong

[mrwrong]

Don’t always believe what the listing agent tells you. I’m not saying the agent is lying here. He/she is probably doing his/her job trying to solicit another offer in case the current one falls through. In any case, you will find out the final sale price in a few weeks.

Mr. Wrong

[cr]

Maybe the listing agent meant the seller would accept an offer of 1.4MM.

[sdappraiser]

This is new construction SFR being sold by the builder/developer.

Listing range $1,395,000-$1,465,000. Per confidential remarks, builder may offer buyer $50k incentive package and $10k bonus to seller’s agent (on top of 3%).

FYI – this same house was listed for $1,295,000-$1,395,000 on 10/5/2006 with a market time of 184 days – did not sell.

Wonder if the agent representing the current buyer informed them of this little tid-bit.

[amy]

I knew it had been listed for over a year, but I didn’t know the lower listing price last year (we moved to a rental here in Carlsbad in April & I started following the house shortly after that as we are eventually going to buy). And I did know about the $50,000 incentive, but not the $10K bonus to selling agent.

My husband thinks the sale probably won’t go through with the loan situations right now – it will be interesting to see if it ends up back on the market or not.

[cr]

Do any of the real estate professionals here have any idea about how many residential properties are sold per year?

I’ll take an estimate, or a specific year and quantity.

[Bugs]

I can run that statistic through the MLS if you want. What area and what price ranges or sizes?

[Bugs]

I can run that statistic through the MLS if you want. What area and what price ranges or sizes?

[Bugs]

I can run that statistic through the MLS if you want. What area and what price ranges or sizes?

[Bugs]

I can run that statistic through the MLS if you want. What area and what price ranges or sizes?

[Bugs]

I can run that statistic through the MLS if you want. What area and what price ranges or sizes?

[cr]

Do any of the real estate professionals here have any idea about how many residential properties are sold per year?

I’ll take an estimate, or a specific year and quantity.

[cr]

Do any of the real estate professionals here have any idea about how many residential properties are sold per year?

I’ll take an estimate, or a specific year and quantity.

[cr]

Do any of the real estate professionals here have any idea about how many residential properties are sold per year?

I’ll take an estimate, or a specific year and quantity.

[cr]

Do any of the real estate professionals here have any idea about how many residential properties are sold per year?

I’ll take an estimate, or a specific year and quantity.

[amy]

I knew it had been listed for over a year, but I didn’t know the lower listing price last year (we moved to a rental here in Carlsbad in April & I started following the house shortly after that as we are eventually going to buy). And I did know about the $50,000 incentive, but not the $10K bonus to selling agent.

My husband thinks the sale probably won’t go through with the loan situations right now – it will be interesting to see if it ends up back on the market or not.

[amy]

I knew it had been listed for over a year, but I didn’t know the lower listing price last year (we moved to a rental here in Carlsbad in April & I started following the house shortly after that as we are eventually going to buy). And I did know about the $50,000 incentive, but not the $10K bonus to selling agent.

My husband thinks the sale probably won’t go through with the loan situations right now – it will be interesting to see if it ends up back on the market or not.

[amy]

I knew it had been listed for over a year, but I didn’t know the lower listing price last year (we moved to a rental here in Carlsbad in April & I started following the house shortly after that as we are eventually going to buy). And I did know about the $50,000 incentive, but not the $10K bonus to selling agent.

My husband thinks the sale probably won’t go through with the loan situations right now – it will be interesting to see if it ends up back on the market or not.

[amy]

I knew it had been listed for over a year, but I didn’t know the lower listing price last year (we moved to a rental here in Carlsbad in April & I started following the house shortly after that as we are eventually going to buy). And I did know about the $50,000 incentive, but not the $10K bonus to selling agent.

My husband thinks the sale probably won’t go through with the loan situations right now – it will be interesting to see if it ends up back on the market or not.

[GunDoctor]

hmmm,

quick question:
Do you as a buyer have a right to see the confidential remarks, or are those just for the agents. It seems like a major conflict of interest if the buyers agent is getting 10K back and you as the buyer don’t know about it.
I see confidential remarks on many listing, do you have a right to see this correspondence?
this may just be how the systems works?…I am just curious and now a bit cautious.
thanks
Gun

[Jumby]

by law it has to be on the closing statement…

[amy]

My husband & I were wondering the same thing (about the $10k bonus). Our realtor certainly never said anything to us about it. If they are a buyer’s agent, shouldn’t they disclose that along with other info about the house if we are considering it?

[Ren]

Many people are still in denial, and/or they only listen to their personal agent/”friend” who feeds them misinformation on a weekly basis, without doing any of their own research. I know a few people like that, and I stopped talking about the market with them long ago.

[SD Realtor]

Couple of comments…

Amy didn’t you post about the Fisherman house here on Piggington before? I could swear you did and I believe I had posted the listing history on this home so it should not be a surprise about the previous pricing.

Gun Doctor – When MLS listings are emailed out to clients the confidential remarks are distilled. It always amazes me that buyers do not query their realtors immediately about what commission they will get when they represent them as a buyer. Yes that will always be on the HUD at closing but if I were a buyer I would want to know up front if no more then for curiosity. Anyways there is no harm in any buyer simply asking their realtor what the cbb is for the home they want to make an offer on.

Ren – I have said it before and will say it again… friends and family man… It is staggering what people will put up with when the realtor is a friend, in law, or other relation. The more agents a broker has, the larger the web.

Amy – Aside from common sense on your part, why would you expect your agent to tell you about the 10k bonus? Are you getting a rebate from him/her that is based on the total commission they get? So yes, 3% of 1.4M + 10k is 52K. Not bad for the brokerage representing you and they may have been a bit embarrassed to let you know that. I don’t believe it is a material fact though.

SD Realtor

[amy]

Hi SD Realtor,
Yes, I had posted on here about the house before, and it was through you that I found it had been on the market for more than a year (relisted several times). I did not know it had been listed at a lower price though.

I would expect my realtor to tell me about the additional bonus as I see it as an added expense on my part – it’s an additional $10k that the seller will be adding on to what they want to get. Since my agent is representing me, as a seller, I think that is information that should be shared with me,and yes, I think a rebate would be appropriate in that situation.

Although I have owned four houses in three states and had my real estate license a long time ago when I lived in VT, I am learning more from this site than all those experiences put together. When we are ready to buy, we will have a lot of questions & good information to base our decisions on.

Thanks to all you Piggs!

[amy]

Hi SD Realtor,
Yes, I had posted on here about the house before, and it was through you that I found it had been on the market for more than a year (relisted several times). I did not know it had been listed at a lower price though.

I would expect my realtor to tell me about the additional bonus as I see it as an added expense on my part – it’s an additional $10k that the seller will be adding on to what they want to get. Since my agent is representing me, as a seller, I think that is information that should be shared with me,and yes, I think a rebate would be appropriate in that situation.

Although I have owned four houses in three states and had my real estate license a long time ago when I lived in VT, I am learning more from this site than all those experiences put together. When we are ready to buy, we will have a lot of questions & good information to base our decisions on.

Thanks to all you Piggs!

[amy]

Hi SD Realtor,
Yes, I had posted on here about the house before, and it was through you that I found it had been on the market for more than a year (relisted several times). I did not know it had been listed at a lower price though.

I would expect my realtor to tell me about the additional bonus as I see it as an added expense on my part – it’s an additional $10k that the seller will be adding on to what they want to get. Since my agent is representing me, as a seller, I think that is information that should be shared with me,and yes, I think a rebate would be appropriate in that situation.

Although I have owned four houses in three states and had my real estate license a long time ago when I lived in VT, I am learning more from this site than all those experiences put together. When we are ready to buy, we will have a lot of questions & good information to base our decisions on.

Thanks to all you Piggs!

[amy]

Hi SD Realtor,
Yes, I had posted on here about the house before, and it was through you that I found it had been on the market for more than a year (relisted several times). I did not know it had been listed at a lower price though.

I would expect my realtor to tell me about the additional bonus as I see it as an added expense on my part – it’s an additional $10k that the seller will be adding on to what they want to get. Since my agent is representing me, as a seller, I think that is information that should be shared with me,and yes, I think a rebate would be appropriate in that situation.

Although I have owned four houses in three states and had my real estate license a long time ago when I lived in VT, I am learning more from this site than all those experiences put together. When we are ready to buy, we will have a lot of questions & good information to base our decisions on.

Thanks to all you Piggs!

[amy]

Hi SD Realtor,
Yes, I had posted on here about the house before, and it was through you that I found it had been on the market for more than a year (relisted several times). I did not know it had been listed at a lower price though.

I would expect my realtor to tell me about the additional bonus as I see it as an added expense on my part – it’s an additional $10k that the seller will be adding on to what they want to get. Since my agent is representing me, as a seller, I think that is information that should be shared with me,and yes, I think a rebate would be appropriate in that situation.

Although I have owned four houses in three states and had my real estate license a long time ago when I lived in VT, I am learning more from this site than all those experiences put together. When we are ready to buy, we will have a lot of questions & good information to base our decisions on.

Thanks to all you Piggs!

[drunkle]

“It always amazes me that buyers do not query their realtors immediately about what commission they will get when they represent them as a buyer. ”

is that an appropriate question? it doesn’t seem like the kind of question that you’re supposed to ask…

[SD Realtor]

“is that an appropriate question? it doesn’t seem like the kind of question that you’re supposed to ask…”

Interesting point Drunkle… I guess it is one of those things that vary with the individual. As an anal engineer it is one that to me does seem appropriate. Your point is well taken though. When I buy a car I don’t ask the salesman what his cut is although if I hired a salesman to buy a car from another salesman then I might…

There are no hard and fast rules about it but to me it is common sense. Once upon a time I used my sister in law at Coldwell… I would do legwork and she would get full commissions. I guess as I have gotten older and crankier my expectations are higher but my reluctance to pose embarassing questions to people has gotten lower.

Amy – I understand your point. It is a matter of perspective from your angle right? From your p.o.v. the agent should have told you… However from her p.o.v. it is not any of your business. Why should you get a rebate if there is a 10k bonus? So are you saying that if the commission was 42k you should not get a rebate but if the commission is 52k you should? I guess that doesn’t make any sense to me. Note I am only playing a devils advocate role here. If you are expecting a rebate then my advice is to make sure ALL of the details are ironed out up front and ahead of time. What if the seller was only paying 2% instead of 3%. Or what if the seller offered only 2% but then offered a 1% bonus on top of it? You see what I am saying? Your expectations need to account for things like this. Just iron out the details with your realtor… Your agents broker may not even allow any rebates.

SD Realtor

[GunDoctor]

Thanks for the reply.
I understand the confidential remarks a bit more now.
I must say, ask. “what use are confidential remarks to buyers”?

I seems to me that the buyers are putting up all of the money. when people are keeping secrets / not informing you about issued dealing with YOUR money I smell a confict of interest. If there were no conflicts then there would be no need for confidential remarks, period. I see nothing wrong with stating these issue out for all to see. I don’t have a problem with my agent getting a 10k bonus. I would just like to know that tidbit so that I can weight that into my purchase decision. Could it be that the 10k is why he is pushing said name house over some other.

I will definately ask about remarks in the future when I buy.

On a side note. What are some of the more outlandish confidential remarks some of you in the business have observed? just curious.
gun

[recordsclerk]

Some of the confidential remarks are regarding alarm codes, entry codes and lock box combos, so some of this information should not get to the public for security reasons. I think the only thing wrong with larger commissions are if your agent tries to steer you into homes that offer them more money. They should show you the best home for your family based on information that you give them. The seller is the person that sets commissions, so it is a tactic that they use to sell their property. I guess they think that there are sleazy realtors out there that would guide unsuspecting clients to view their property based on commission. This may be true, but the ultimate decision to purchase a home is up to the buyer, so buyer beware.

[recordsclerk]

Some of the confidential remarks are regarding alarm codes, entry codes and lock box combos, so some of this information should not get to the public for security reasons. I think the only thing wrong with larger commissions are if your agent tries to steer you into homes that offer them more money. They should show you the best home for your family based on information that you give them. The seller is the person that sets commissions, so it is a tactic that they use to sell their property. I guess they think that there are sleazy realtors out there that would guide unsuspecting clients to view their property based on commission. This may be true, but the ultimate decision to purchase a home is up to the buyer, so buyer beware.

[recordsclerk]

Some of the confidential remarks are regarding alarm codes, entry codes and lock box combos, so some of this information should not get to the public for security reasons. I think the only thing wrong with larger commissions are if your agent tries to steer you into homes that offer them more money. They should show you the best home for your family based on information that you give them. The seller is the person that sets commissions, so it is a tactic that they use to sell their property. I guess they think that there are sleazy realtors out there that would guide unsuspecting clients to view their property based on commission. This may be true, but the ultimate decision to purchase a home is up to the buyer, so buyer beware.

[recordsclerk]

Some of the confidential remarks are regarding alarm codes, entry codes and lock box combos, so some of this information should not get to the public for security reasons. I think the only thing wrong with larger commissions are if your agent tries to steer you into homes that offer them more money. They should show you the best home for your family based on information that you give them. The seller is the person that sets commissions, so it is a tactic that they use to sell their property. I guess they think that there are sleazy realtors out there that would guide unsuspecting clients to view their property based on commission. This may be true, but the ultimate decision to purchase a home is up to the buyer, so buyer beware.

[recordsclerk]

Some of the confidential remarks are regarding alarm codes, entry codes and lock box combos, so some of this information should not get to the public for security reasons. I think the only thing wrong with larger commissions are if your agent tries to steer you into homes that offer them more money. They should show you the best home for your family based on information that you give them. The seller is the person that sets commissions, so it is a tactic that they use to sell their property. I guess they think that there are sleazy realtors out there that would guide unsuspecting clients to view their property based on commission. This may be true, but the ultimate decision to purchase a home is up to the buyer, so buyer beware.

[recordsclerk]

Some of the confidential remarks are regarding alarm codes, entry codes and lock box combos, so some of this information should not get to the public for security reasons. I think the only thing wrong with larger commissions are if your agent tries to steer you into homes that offer them more money. They should show you the best home for your family based on information that you give them. The seller is the person that sets commissions, so it is a tactic that they use to sell their property. I guess they think that there are sleazy realtors out there that would guide unsuspecting clients to view their property based on commission. This may be true, but the ultimate decision to purchase a home is up to the buyer, so buyer beware.

[GunDoctor]

Thanks for the reply.
I understand the confidential remarks a bit more now.
I must say, ask. “what use are confidential remarks to buyers”?

I seems to me that the buyers are putting up all of the money. when people are keeping secrets / not informing you about issued dealing with YOUR money I smell a confict of interest. If there were no conflicts then there would be no need for confidential remarks, period. I see nothing wrong with stating these issue out for all to see. I don’t have a problem with my agent getting a 10k bonus. I would just like to know that tidbit so that I can weight that into my purchase decision. Could it be that the 10k is why he is pushing said name house over some other.

I will definately ask about remarks in the future when I buy.

On a side note. What are some of the more outlandish confidential remarks some of you in the business have observed? just curious.
gun

[GunDoctor]

Thanks for the reply.
I understand the confidential remarks a bit more now.
I must say, ask. “what use are confidential remarks to buyers”?

I seems to me that the buyers are putting up all of the money. when people are keeping secrets / not informing you about issued dealing with YOUR money I smell a confict of interest. If there were no conflicts then there would be no need for confidential remarks, period. I see nothing wrong with stating these issue out for all to see. I don’t have a problem with my agent getting a 10k bonus. I would just like to know that tidbit so that I can weight that into my purchase decision. Could it be that the 10k is why he is pushing said name house over some other.

I will definately ask about remarks in the future when I buy.

On a side note. What are some of the more outlandish confidential remarks some of you in the business have observed? just curious.
gun

[GunDoctor]

Thanks for the reply.
I understand the confidential remarks a bit more now.
I must say, ask. “what use are confidential remarks to buyers”?

I seems to me that the buyers are putting up all of the money. when people are keeping secrets / not informing you about issued dealing with YOUR money I smell a confict of interest. If there were no conflicts then there would be no need for confidential remarks, period. I see nothing wrong with stating these issue out for all to see. I don’t have a problem with my agent getting a 10k bonus. I would just like to know that tidbit so that I can weight that into my purchase decision. Could it be that the 10k is why he is pushing said name house over some other.

I will definately ask about remarks in the future when I buy.

On a side note. What are some of the more outlandish confidential remarks some of you in the business have observed? just curious.
gun

[GunDoctor]

Thanks for the reply.
I understand the confidential remarks a bit more now.
I must say, ask. “what use are confidential remarks to buyers”?

I seems to me that the buyers are putting up all of the money. when people are keeping secrets / not informing you about issued dealing with YOUR money I smell a confict of interest. If there were no conflicts then there would be no need for confidential remarks, period. I see nothing wrong with stating these issue out for all to see. I don’t have a problem with my agent getting a 10k bonus. I would just like to know that tidbit so that I can weight that into my purchase decision. Could it be that the 10k is why he is pushing said name house over some other.

I will definately ask about remarks in the future when I buy.

On a side note. What are some of the more outlandish confidential remarks some of you in the business have observed? just curious.
gun

[SD Realtor]

“is that an appropriate question? it doesn’t seem like the kind of question that you’re supposed to ask…”

Interesting point Drunkle… I guess it is one of those things that vary with the individual. As an anal engineer it is one that to me does seem appropriate. Your point is well taken though. When I buy a car I don’t ask the salesman what his cut is although if I hired a salesman to buy a car from another salesman then I might…

There are no hard and fast rules about it but to me it is common sense. Once upon a time I used my sister in law at Coldwell… I would do legwork and she would get full commissions. I guess as I have gotten older and crankier my expectations are higher but my reluctance to pose embarassing questions to people has gotten lower.

Amy – I understand your point. It is a matter of perspective from your angle right? From your p.o.v. the agent should have told you… However from her p.o.v. it is not any of your business. Why should you get a rebate if there is a 10k bonus? So are you saying that if the commission was 42k you should not get a rebate but if the commission is 52k you should? I guess that doesn’t make any sense to me. Note I am only playing a devils advocate role here. If you are expecting a rebate then my advice is to make sure ALL of the details are ironed out up front and ahead of time. What if the seller was only paying 2% instead of 3%. Or what if the seller offered only 2% but then offered a 1% bonus on top of it? You see what I am saying? Your expectations need to account for things like this. Just iron out the details with your realtor… Your agents broker may not even allow any rebates.

SD Realtor

[SD Realtor]

“is that an appropriate question? it doesn’t seem like the kind of question that you’re supposed to ask…”

Interesting point Drunkle… I guess it is one of those things that vary with the individual. As an anal engineer it is one that to me does seem appropriate. Your point is well taken though. When I buy a car I don’t ask the salesman what his cut is although if I hired a salesman to buy a car from another salesman then I might…

There are no hard and fast rules about it but to me it is common sense. Once upon a time I used my sister in law at Coldwell… I would do legwork and she would get full commissions. I guess as I have gotten older and crankier my expectations are higher but my reluctance to pose embarassing questions to people has gotten lower.

Amy – I understand your point. It is a matter of perspective from your angle right? From your p.o.v. the agent should have told you… However from her p.o.v. it is not any of your business. Why should you get a rebate if there is a 10k bonus? So are you saying that if the commission was 42k you should not get a rebate but if the commission is 52k you should? I guess that doesn’t make any sense to me. Note I am only playing a devils advocate role here. If you are expecting a rebate then my advice is to make sure ALL of the details are ironed out up front and ahead of time. What if the seller was only paying 2% instead of 3%. Or what if the seller offered only 2% but then offered a 1% bonus on top of it? You see what I am saying? Your expectations need to account for things like this. Just iron out the details with your realtor… Your agents broker may not even allow any rebates.

SD Realtor

[SD Realtor]

“is that an appropriate question? it doesn’t seem like the kind of question that you’re supposed to ask…”

Interesting point Drunkle… I guess it is one of those things that vary with the individual. As an anal engineer it is one that to me does seem appropriate. Your point is well taken though. When I buy a car I don’t ask the salesman what his cut is although if I hired a salesman to buy a car from another salesman then I might…

There are no hard and fast rules about it but to me it is common sense. Once upon a time I used my sister in law at Coldwell… I would do legwork and she would get full commissions. I guess as I have gotten older and crankier my expectations are higher but my reluctance to pose embarassing questions to people has gotten lower.

Amy – I understand your point. It is a matter of perspective from your angle right? From your p.o.v. the agent should have told you… However from her p.o.v. it is not any of your business. Why should you get a rebate if there is a 10k bonus? So are you saying that if the commission was 42k you should not get a rebate but if the commission is 52k you should? I guess that doesn’t make any sense to me. Note I am only playing a devils advocate role here. If you are expecting a rebate then my advice is to make sure ALL of the details are ironed out up front and ahead of time. What if the seller was only paying 2% instead of 3%. Or what if the seller offered only 2% but then offered a 1% bonus on top of it? You see what I am saying? Your expectations need to account for things like this. Just iron out the details with your realtor… Your agents broker may not even allow any rebates.

SD Realtor

[SD Realtor]

“is that an appropriate question? it doesn’t seem like the kind of question that you’re supposed to ask…”

Interesting point Drunkle… I guess it is one of those things that vary with the individual. As an anal engineer it is one that to me does seem appropriate. Your point is well taken though. When I buy a car I don’t ask the salesman what his cut is although if I hired a salesman to buy a car from another salesman then I might…

There are no hard and fast rules about it but to me it is common sense. Once upon a time I used my sister in law at Coldwell… I would do legwork and she would get full commissions. I guess as I have gotten older and crankier my expectations are higher but my reluctance to pose embarassing questions to people has gotten lower.

Amy – I understand your point. It is a matter of perspective from your angle right? From your p.o.v. the agent should have told you… However from her p.o.v. it is not any of your business. Why should you get a rebate if there is a 10k bonus? So are you saying that if the commission was 42k you should not get a rebate but if the commission is 52k you should? I guess that doesn’t make any sense to me. Note I am only playing a devils advocate role here. If you are expecting a rebate then my advice is to make sure ALL of the details are ironed out up front and ahead of time. What if the seller was only paying 2% instead of 3%. Or what if the seller offered only 2% but then offered a 1% bonus on top of it? You see what I am saying? Your expectations need to account for things like this. Just iron out the details with your realtor… Your agents broker may not even allow any rebates.

SD Realtor

[drunkle]

“It always amazes me that buyers do not query their realtors immediately about what commission they will get when they represent them as a buyer. ”

is that an appropriate question? it doesn’t seem like the kind of question that you’re supposed to ask…

[drunkle]

“It always amazes me that buyers do not query their realtors immediately about what commission they will get when they represent them as a buyer. ”

is that an appropriate question? it doesn’t seem like the kind of question that you’re supposed to ask…

[drunkle]

“It always amazes me that buyers do not query their realtors immediately about what commission they will get when they represent them as a buyer. ”

is that an appropriate question? it doesn’t seem like the kind of question that you’re supposed to ask…

[drunkle]

“It always amazes me that buyers do not query their realtors immediately about what commission they will get when they represent them as a buyer. ”

is that an appropriate question? it doesn’t seem like the kind of question that you’re supposed to ask…

[SD Realtor]

Couple of comments…

Amy didn’t you post about the Fisherman house here on Piggington before? I could swear you did and I believe I had posted the listing history on this home so it should not be a surprise about the previous pricing.

Gun Doctor – When MLS listings are emailed out to clients the confidential remarks are distilled. It always amazes me that buyers do not query their realtors immediately about what commission they will get when they represent them as a buyer. Yes that will always be on the HUD at closing but if I were a buyer I would want to know up front if no more then for curiosity. Anyways there is no harm in any buyer simply asking their realtor what the cbb is for the home they want to make an offer on.

Ren – I have said it before and will say it again… friends and family man… It is staggering what people will put up with when the realtor is a friend, in law, or other relation. The more agents a broker has, the larger the web.

Amy – Aside from common sense on your part, why would you expect your agent to tell you about the 10k bonus? Are you getting a rebate from him/her that is based on the total commission they get? So yes, 3% of 1.4M + 10k is 52K. Not bad for the brokerage representing you and they may have been a bit embarrassed to let you know that. I don’t believe it is a material fact though.

SD Realtor

[SD Realtor]

Couple of comments…

Amy didn’t you post about the Fisherman house here on Piggington before? I could swear you did and I believe I had posted the listing history on this home so it should not be a surprise about the previous pricing.

Gun Doctor – When MLS listings are emailed out to clients the confidential remarks are distilled. It always amazes me that buyers do not query their realtors immediately about what commission they will get when they represent them as a buyer. Yes that will always be on the HUD at closing but if I were a buyer I would want to know up front if no more then for curiosity. Anyways there is no harm in any buyer simply asking their realtor what the cbb is for the home they want to make an offer on.

Ren – I have said it before and will say it again… friends and family man… It is staggering what people will put up with when the realtor is a friend, in law, or other relation. The more agents a broker has, the larger the web.

Amy – Aside from common sense on your part, why would you expect your agent to tell you about the 10k bonus? Are you getting a rebate from him/her that is based on the total commission they get? So yes, 3% of 1.4M + 10k is 52K. Not bad for the brokerage representing you and they may have been a bit embarrassed to let you know that. I don’t believe it is a material fact though.

SD Realtor

[SD Realtor]

Couple of comments…

Amy didn’t you post about the Fisherman house here on Piggington before? I could swear you did and I believe I had posted the listing history on this home so it should not be a surprise about the previous pricing.

Gun Doctor – When MLS listings are emailed out to clients the confidential remarks are distilled. It always amazes me that buyers do not query their realtors immediately about what commission they will get when they represent them as a buyer. Yes that will always be on the HUD at closing but if I were a buyer I would want to know up front if no more then for curiosity. Anyways there is no harm in any buyer simply asking their realtor what the cbb is for the home they want to make an offer on.

Ren – I have said it before and will say it again… friends and family man… It is staggering what people will put up with when the realtor is a friend, in law, or other relation. The more agents a broker has, the larger the web.

Amy – Aside from common sense on your part, why would you expect your agent to tell you about the 10k bonus? Are you getting a rebate from him/her that is based on the total commission they get? So yes, 3% of 1.4M + 10k is 52K. Not bad for the brokerage representing you and they may have been a bit embarrassed to let you know that. I don’t believe it is a material fact though.

SD Realtor

[SD Realtor]

Couple of comments…

Amy didn’t you post about the Fisherman house here on Piggington before? I could swear you did and I believe I had posted the listing history on this home so it should not be a surprise about the previous pricing.

Gun Doctor – When MLS listings are emailed out to clients the confidential remarks are distilled. It always amazes me that buyers do not query their realtors immediately about what commission they will get when they represent them as a buyer. Yes that will always be on the HUD at closing but if I were a buyer I would want to know up front if no more then for curiosity. Anyways there is no harm in any buyer simply asking their realtor what the cbb is for the home they want to make an offer on.

Ren – I have said it before and will say it again… friends and family man… It is staggering what people will put up with when the realtor is a friend, in law, or other relation. The more agents a broker has, the larger the web.

Amy – Aside from common sense on your part, why would you expect your agent to tell you about the 10k bonus? Are you getting a rebate from him/her that is based on the total commission they get? So yes, 3% of 1.4M + 10k is 52K. Not bad for the brokerage representing you and they may have been a bit embarrassed to let you know that. I don’t believe it is a material fact though.

SD Realtor

[Ren]

Many people are still in denial, and/or they only listen to their personal agent/”friend” who feeds them misinformation on a weekly basis, without doing any of their own research. I know a few people like that, and I stopped talking about the market with them long ago.

[Ren]

Many people are still in denial, and/or they only listen to their personal agent/”friend” who feeds them misinformation on a weekly basis, without doing any of their own research. I know a few people like that, and I stopped talking about the market with them long ago.

[Ren]

Many people are still in denial, and/or they only listen to their personal agent/”friend” who feeds them misinformation on a weekly basis, without doing any of their own research. I know a few people like that, and I stopped talking about the market with them long ago.

[Ren]

Many people are still in denial, and/or they only listen to their personal agent/”friend” who feeds them misinformation on a weekly basis, without doing any of their own research. I know a few people like that, and I stopped talking about the market with them long ago.

[amy]

My husband & I were wondering the same thing (about the $10k bonus). Our realtor certainly never said anything to us about it. If they are a buyer’s agent, shouldn’t they disclose that along with other info about the house if we are considering it?

[amy]

My husband & I were wondering the same thing (about the $10k bonus). Our realtor certainly never said anything to us about it. If they are a buyer’s agent, shouldn’t they disclose that along with other info about the house if we are considering it?

[amy]

My husband & I were wondering the same thing (about the $10k bonus). Our realtor certainly never said anything to us about it. If they are a buyer’s agent, shouldn’t they disclose that along with other info about the house if we are considering it?

[amy]

My husband & I were wondering the same thing (about the $10k bonus). Our realtor certainly never said anything to us about it. If they are a buyer’s agent, shouldn’t they disclose that along with other info about the house if we are considering it?

[Jumby]

by law it has to be on the closing statement…

[Jumby]

by law it has to be on the closing statement…

[Jumby]

by law it has to be on the closing statement…

[Jumby]

by law it has to be on the closing statement…

[GunDoctor]

hmmm,

quick question:
Do you as a buyer have a right to see the confidential remarks, or are those just for the agents. It seems like a major conflict of interest if the buyers agent is getting 10K back and you as the buyer don’t know about it.
I see confidential remarks on many listing, do you have a right to see this correspondence?
this may just be how the systems works?…I am just curious and now a bit cautious.
thanks
Gun

[GunDoctor]

hmmm,

quick question:
Do you as a buyer have a right to see the confidential remarks, or are those just for the agents. It seems like a major conflict of interest if the buyers agent is getting 10K back and you as the buyer don’t know about it.
I see confidential remarks on many listing, do you have a right to see this correspondence?
this may just be how the systems works?…I am just curious and now a bit cautious.
thanks
Gun

[GunDoctor]

hmmm,

quick question:
Do you as a buyer have a right to see the confidential remarks, or are those just for the agents. It seems like a major conflict of interest if the buyers agent is getting 10K back and you as the buyer don’t know about it.
I see confidential remarks on many listing, do you have a right to see this correspondence?
this may just be how the systems works?…I am just curious and now a bit cautious.
thanks
Gun

[GunDoctor]

hmmm,

quick question:
Do you as a buyer have a right to see the confidential remarks, or are those just for the agents. It seems like a major conflict of interest if the buyers agent is getting 10K back and you as the buyer don’t know about it.
I see confidential remarks on many listing, do you have a right to see this correspondence?
this may just be how the systems works?…I am just curious and now a bit cautious.
thanks
Gun

[sdappraiser]

This is new construction SFR being sold by the builder/developer.

Listing range $1,395,000-$1,465,000. Per confidential remarks, builder may offer buyer $50k incentive package and $10k bonus to seller’s agent (on top of 3%).

FYI – this same house was listed for $1,295,000-$1,395,000 on 10/5/2006 with a market time of 184 days – did not sell.

Wonder if the agent representing the current buyer informed them of this little tid-bit.

[sdappraiser]

This is new construction SFR being sold by the builder/developer.

Listing range $1,395,000-$1,465,000. Per confidential remarks, builder may offer buyer $50k incentive package and $10k bonus to seller’s agent (on top of 3%).

FYI – this same house was listed for $1,295,000-$1,395,000 on 10/5/2006 with a market time of 184 days – did not sell.

Wonder if the agent representing the current buyer informed them of this little tid-bit.

[sdappraiser]

This is new construction SFR being sold by the builder/developer.

Listing range $1,395,000-$1,465,000. Per confidential remarks, builder may offer buyer $50k incentive package and $10k bonus to seller’s agent (on top of 3%).

FYI – this same house was listed for $1,295,000-$1,395,000 on 10/5/2006 with a market time of 184 days – did not sell.

Wonder if the agent representing the current buyer informed them of this little tid-bit.

[sdappraiser]

This is new construction SFR being sold by the builder/developer.

Listing range $1,395,000-$1,465,000. Per confidential remarks, builder may offer buyer $50k incentive package and $10k bonus to seller’s agent (on top of 3%).

FYI – this same house was listed for $1,295,000-$1,395,000 on 10/5/2006 with a market time of 184 days – did not sell.

Wonder if the agent representing the current buyer informed them of this little tid-bit.

[cr]

Maybe the listing agent meant the seller would accept an offer of 1.4MM.

[cr]

Maybe the listing agent meant the seller would accept an offer of 1.4MM.

[cr]

Maybe the listing agent meant the seller would accept an offer of 1.4MM.

[cr]

Maybe the listing agent meant the seller would accept an offer of 1.4MM.

[Anonymous]

More on Carlsbad list prices:

Thanks for the info Amy, very helpful. Your post describes what my wife and I have been running into in this price range, especially within Carlsbad. We had to sell a couple years ago to move to NYC but are now back here due to work transfer. We have been actively looking the last 6 months, but have decided to sit it out for another year or two (at least).

Main reason is I think a fair amount of sellers are stuck trying to get back not only their large debt balances but also the massive upgrades they decided to add (in some cases). To answer your question, we’ve put in sub-list bids on a few homes but have seen a couple of them go into escrow at or near the list price. Both had asking prices well above what the buyer paid 1-2 years ago, so I looked into it a little further as I didn’t understand why (see below).

Some additional color for the blog, if anyone is interested. Hope some will find this helpful:

The Bay Collection (off Poinsettia just east of route 5) is a great example of what I mentioned above. Most of the sellers in there are currently asking considerably more than what they paid new just a couple years ago, arguably right at the peak of the market. Upon closer inspection, there are some pretty sizeable loan balances on these homes, especially the 2nd mortgages, which is pretty scary considering these homes were purchased very recently. The one home we really liked over there was owned by an investor who bought about 10 homes/commercial properties in the last 3 years and apparently now has 8 of them on the market (his realtor obviously didn’t need to disclose this, so my realtor helped us do the research). He was asking 300K more than what he paid and told us an offer near what he initially paid would be way too low, so we walked.

I didn’t show any addresses, but you can see the original (circa 2005) sales price, 1st and 2nd mortgage balances for the homes on the nicest circle in that tract. By the way, this is information that your realtor can and should provide (as many of you may already know)

Original Sale….Mortgage 1….Mortgage 2
——————————————-
1,650,000…1,000,000
1,100,000…..900,000….20,000
1,430,000…1,143,000
1,295,000…1,036,000…130,000
1,549,000…1,000,000…394,000
1,182,000…1,211,000
1,320,000…..680,000
1,199,000…1,220,000
1,407,000…..825,000…200,000
1,250,000…1,000,000…250,000
1,438,000…..986,000
1,000,000…..800,000…150,000
1,139,000…..838,000
1,656,000…1,324,000…165,000
1,191,000…..833,000
1,400,000…1,075,000…200,000
1,258,000…..710,000
1,390,000…..900,000
1,456,000…..975,000…375,000
1,900,000…1,000,000…400,000
1,240,000…1,105,000…240,000
1,265,000…1,000,000…250,000
1,245,000…..934,000
1,360,000…1,280,000…100,000
1,205,000…1,053,000
1,238,000…..980,000…250,000
1,234,000…..987,000…200,000
1,305,000…..700,000
1,435,000…1,000,000…291,000
1,250,000…1,000,000
1,412,000…..980,000
1,409,000…1,120,000
1,378,000…1,250,000
1,762,000…1,000,000…321,000
1,790,000…..870,000
1,351,000…1,201,000

Needless to say, this is fairly indicative of the situation in this price range across many parts of north and northeast county, especially some of the newer construction, at least based on the data I’ve examined. (there will be exceptions of course).

Also, it’s really worth looking at the difference between renting and buying right now. Be sure to factor in property taxes, HOAs, additional utility/maint bills, home depot weekend runs, opportunity cost of capital if the market sits flat-to-down, etc (as many have already pointed out on this site). In most neighborhoods, renting wins hands down, no question.

Sorry for the long post, just thought it might be helpful for anyone on the fence right now, as we were. I’m not an expert by any stretch, but would recommend that buyers do a deep dive on any home they are thinking of purchasing. Would also be great to hear about other folks’ experiences in north county and what they’ve seen in the last year or two.

[amy]

Dominic, we’ve also been looking at the Bay Collection -mostly the odd-numbered homes on Heron. We’ve found that prices for the most part in this part of Carlsbad are coming down a little, but most sellers just aren’t budging. After reviewing your numbers, it makes sense. Thanks for sharing. Hopefully we will see more movement in this area in 2008. We haven’t submitted any offers yet, but depending on the market, we may start this summer. Eventually, people will have to face reality (at least we hope so!).

[amy]

Dominic, we’ve also been looking at the Bay Collection -mostly the odd-numbered homes on Heron. We’ve found that prices for the most part in this part of Carlsbad are coming down a little, but most sellers just aren’t budging. After reviewing your numbers, it makes sense. Thanks for sharing. Hopefully we will see more movement in this area in 2008. We haven’t submitted any offers yet, but depending on the market, we may start this summer. Eventually, people will have to face reality (at least we hope so!).

[amy]

Dominic, we’ve also been looking at the Bay Collection -mostly the odd-numbered homes on Heron. We’ve found that prices for the most part in this part of Carlsbad are coming down a little, but most sellers just aren’t budging. After reviewing your numbers, it makes sense. Thanks for sharing. Hopefully we will see more movement in this area in 2008. We haven’t submitted any offers yet, but depending on the market, we may start this summer. Eventually, people will have to face reality (at least we hope so!).

[amy]

Dominic, we’ve also been looking at the Bay Collection -mostly the odd-numbered homes on Heron. We’ve found that prices for the most part in this part of Carlsbad are coming down a little, but most sellers just aren’t budging. After reviewing your numbers, it makes sense. Thanks for sharing. Hopefully we will see more movement in this area in 2008. We haven’t submitted any offers yet, but depending on the market, we may start this summer. Eventually, people will have to face reality (at least we hope so!).

[amy]

Dominic, we’ve also been looking at the Bay Collection -mostly the odd-numbered homes on Heron. We’ve found that prices for the most part in this part of Carlsbad are coming down a little, but most sellers just aren’t budging. After reviewing your numbers, it makes sense. Thanks for sharing. Hopefully we will see more movement in this area in 2008. We haven’t submitted any offers yet, but depending on the market, we may start this summer. Eventually, people will have to face reality (at least we hope so!).

[svelte]

I just can’t believe my eyes at those mortgage sizes, Dominic. We make many times over the avg household income in SD county and we would never dream of getting that big a mortgage! Virtually every house has a 700K to 1000K loan!

Those folks must have absolutely enormous salaries or, more likely, they are IO loans. And if so, when do the resets come? Lessee, they moved in during 2005 and 2006….hmmmm…..

[svelte]

I just can’t believe my eyes at those mortgage sizes, Dominic. We make many times over the avg household income in SD county and we would never dream of getting that big a mortgage! Virtually every house has a 700K to 1000K loan!

Those folks must have absolutely enormous salaries or, more likely, they are IO loans. And if so, when do the resets come? Lessee, they moved in during 2005 and 2006….hmmmm…..

[svelte]

I just can’t believe my eyes at those mortgage sizes, Dominic. We make many times over the avg household income in SD county and we would never dream of getting that big a mortgage! Virtually every house has a 700K to 1000K loan!

Those folks must have absolutely enormous salaries or, more likely, they are IO loans. And if so, when do the resets come? Lessee, they moved in during 2005 and 2006….hmmmm…..

[svelte]

I just can’t believe my eyes at those mortgage sizes, Dominic. We make many times over the avg household income in SD county and we would never dream of getting that big a mortgage! Virtually every house has a 700K to 1000K loan!

Those folks must have absolutely enormous salaries or, more likely, they are IO loans. And if so, when do the resets come? Lessee, they moved in during 2005 and 2006….hmmmm…..

[svelte]

I just can’t believe my eyes at those mortgage sizes, Dominic. We make many times over the avg household income in SD county and we would never dream of getting that big a mortgage! Virtually every house has a 700K to 1000K loan!

Those folks must have absolutely enormous salaries or, more likely, they are IO loans. And if so, when do the resets come? Lessee, they moved in during 2005 and 2006….hmmmm…..

[Anonymous]

More on Carlsbad list prices:

Thanks for the info Amy, very helpful. Your post describes what my wife and I have been running into in this price range, especially within Carlsbad. We had to sell a couple years ago to move to NYC but are now back here due to work transfer. We have been actively looking the last 6 months, but have decided to sit it out for another year or two (at least).

Main reason is I think a fair amount of sellers are stuck trying to get back not only their large debt balances but also the massive upgrades they decided to add (in some cases). To answer your question, we’ve put in sub-list bids on a few homes but have seen a couple of them go into escrow at or near the list price. Both had asking prices well above what the buyer paid 1-2 years ago, so I looked into it a little further as I didn’t understand why (see below).

Some additional color for the blog, if anyone is interested. Hope some will find this helpful:

The Bay Collection (off Poinsettia just east of route 5) is a great example of what I mentioned above. Most of the sellers in there are currently asking considerably more than what they paid new just a couple years ago, arguably right at the peak of the market. Upon closer inspection, there are some pretty sizeable loan balances on these homes, especially the 2nd mortgages, which is pretty scary considering these homes were purchased very recently. The one home we really liked over there was owned by an investor who bought about 10 homes/commercial properties in the last 3 years and apparently now has 8 of them on the market (his realtor obviously didn’t need to disclose this, so my realtor helped us do the research). He was asking 300K more than what he paid and told us an offer near what he initially paid would be way too low, so we walked.

I didn’t show any addresses, but you can see the original (circa 2005) sales price, 1st and 2nd mortgage balances for the homes on the nicest circle in that tract. By the way, this is information that your realtor can and should provide (as many of you may already know)

Original Sale….Mortgage 1….Mortgage 2
——————————————-
1,650,000…1,000,000
1,100,000…..900,000….20,000
1,430,000…1,143,000
1,295,000…1,036,000…130,000
1,549,000…1,000,000…394,000
1,182,000…1,211,000
1,320,000…..680,000
1,199,000…1,220,000
1,407,000…..825,000…200,000
1,250,000…1,000,000…250,000
1,438,000…..986,000
1,000,000…..800,000…150,000
1,139,000…..838,000
1,656,000…1,324,000…165,000
1,191,000…..833,000
1,400,000…1,075,000…200,000
1,258,000…..710,000
1,390,000…..900,000
1,456,000…..975,000…375,000
1,900,000…1,000,000…400,000
1,240,000…1,105,000…240,000
1,265,000…1,000,000…250,000
1,245,000…..934,000
1,360,000…1,280,000…100,000
1,205,000…1,053,000
1,238,000…..980,000…250,000
1,234,000…..987,000…200,000
1,305,000…..700,000
1,435,000…1,000,000…291,000
1,250,000…1,000,000
1,412,000…..980,000
1,409,000…1,120,000
1,378,000…1,250,000
1,762,000…1,000,000…321,000
1,790,000…..870,000
1,351,000…1,201,000

Needless to say, this is fairly indicative of the situation in this price range across many parts of north and northeast county, especially some of the newer construction, at least based on the data I’ve examined. (there will be exceptions of course).

Also, it’s really worth looking at the difference between renting and buying right now. Be sure to factor in property taxes, HOAs, additional utility/maint bills, home depot weekend runs, opportunity cost of capital if the market sits flat-to-down, etc (as many have already pointed out on this site). In most neighborhoods, renting wins hands down, no question.

Sorry for the long post, just thought it might be helpful for anyone on the fence right now, as we were. I’m not an expert by any stretch, but would recommend that buyers do a deep dive on any home they are thinking of purchasing. Would also be great to hear about other folks’ experiences in north county and what they’ve seen in the last year or two.

[Anonymous]

More on Carlsbad list prices:

Thanks for the info Amy, very helpful. Your post describes what my wife and I have been running into in this price range, especially within Carlsbad. We had to sell a couple years ago to move to NYC but are now back here due to work transfer. We have been actively looking the last 6 months, but have decided to sit it out for another year or two (at least).

Main reason is I think a fair amount of sellers are stuck trying to get back not only their large debt balances but also the massive upgrades they decided to add (in some cases). To answer your question, we’ve put in sub-list bids on a few homes but have seen a couple of them go into escrow at or near the list price. Both had asking prices well above what the buyer paid 1-2 years ago, so I looked into it a little further as I didn’t understand why (see below).

Some additional color for the blog, if anyone is interested. Hope some will find this helpful:

The Bay Collection (off Poinsettia just east of route 5) is a great example of what I mentioned above. Most of the sellers in there are currently asking considerably more than what they paid new just a couple years ago, arguably right at the peak of the market. Upon closer inspection, there are some pretty sizeable loan balances on these homes, especially the 2nd mortgages, which is pretty scary considering these homes were purchased very recently. The one home we really liked over there was owned by an investor who bought about 10 homes/commercial properties in the last 3 years and apparently now has 8 of them on the market (his realtor obviously didn’t need to disclose this, so my realtor helped us do the research). He was asking 300K more than what he paid and told us an offer near what he initially paid would be way too low, so we walked.

I didn’t show any addresses, but you can see the original (circa 2005) sales price, 1st and 2nd mortgage balances for the homes on the nicest circle in that tract. By the way, this is information that your realtor can and should provide (as many of you may already know)

Original Sale….Mortgage 1….Mortgage 2
——————————————-
1,650,000…1,000,000
1,100,000…..900,000….20,000
1,430,000…1,143,000
1,295,000…1,036,000…130,000
1,549,000…1,000,000…394,000
1,182,000…1,211,000
1,320,000…..680,000
1,199,000…1,220,000
1,407,000…..825,000…200,000
1,250,000…1,000,000…250,000
1,438,000…..986,000
1,000,000…..800,000…150,000
1,139,000…..838,000
1,656,000…1,324,000…165,000
1,191,000…..833,000
1,400,000…1,075,000…200,000
1,258,000…..710,000
1,390,000…..900,000
1,456,000…..975,000…375,000
1,900,000…1,000,000…400,000
1,240,000…1,105,000…240,000
1,265,000…1,000,000…250,000
1,245,000…..934,000
1,360,000…1,280,000…100,000
1,205,000…1,053,000
1,238,000…..980,000…250,000
1,234,000…..987,000…200,000
1,305,000…..700,000
1,435,000…1,000,000…291,000
1,250,000…1,000,000
1,412,000…..980,000
1,409,000…1,120,000
1,378,000…1,250,000
1,762,000…1,000,000…321,000
1,790,000…..870,000
1,351,000…1,201,000

Needless to say, this is fairly indicative of the situation in this price range across many parts of north and northeast county, especially some of the newer construction, at least based on the data I’ve examined. (there will be exceptions of course).

Also, it’s really worth looking at the difference between renting and buying right now. Be sure to factor in property taxes, HOAs, additional utility/maint bills, home depot weekend runs, opportunity cost of capital if the market sits flat-to-down, etc (as many have already pointed out on this site). In most neighborhoods, renting wins hands down, no question.

Sorry for the long post, just thought it might be helpful for anyone on the fence right now, as we were. I’m not an expert by any stretch, but would recommend that buyers do a deep dive on any home they are thinking of purchasing. Would also be great to hear about other folks’ experiences in north county and what they’ve seen in the last year or two.

[Anonymous]

More on Carlsbad list prices:

Thanks for the info Amy, very helpful. Your post describes what my wife and I have been running into in this price range, especially within Carlsbad. We had to sell a couple years ago to move to NYC but are now back here due to work transfer. We have been actively looking the last 6 months, but have decided to sit it out for another year or two (at least).

Main reason is I think a fair amount of sellers are stuck trying to get back not only their large debt balances but also the massive upgrades they decided to add (in some cases). To answer your question, we’ve put in sub-list bids on a few homes but have seen a couple of them go into escrow at or near the list price. Both had asking prices well above what the buyer paid 1-2 years ago, so I looked into it a little further as I didn’t understand why (see below).

Some additional color for the blog, if anyone is interested. Hope some will find this helpful:

The Bay Collection (off Poinsettia just east of route 5) is a great example of what I mentioned above. Most of the sellers in there are currently asking considerably more than what they paid new just a couple years ago, arguably right at the peak of the market. Upon closer inspection, there are some pretty sizeable loan balances on these homes, especially the 2nd mortgages, which is pretty scary considering these homes were purchased very recently. The one home we really liked over there was owned by an investor who bought about 10 homes/commercial properties in the last 3 years and apparently now has 8 of them on the market (his realtor obviously didn’t need to disclose this, so my realtor helped us do the research). He was asking 300K more than what he paid and told us an offer near what he initially paid would be way too low, so we walked.

I didn’t show any addresses, but you can see the original (circa 2005) sales price, 1st and 2nd mortgage balances for the homes on the nicest circle in that tract. By the way, this is information that your realtor can and should provide (as many of you may already know)

Original Sale….Mortgage 1….Mortgage 2
——————————————-
1,650,000…1,000,000
1,100,000…..900,000….20,000
1,430,000…1,143,000
1,295,000…1,036,000…130,000
1,549,000…1,000,000…394,000
1,182,000…1,211,000
1,320,000…..680,000
1,199,000…1,220,000
1,407,000…..825,000…200,000
1,250,000…1,000,000…250,000
1,438,000…..986,000
1,000,000…..800,000…150,000
1,139,000…..838,000
1,656,000…1,324,000…165,000
1,191,000…..833,000
1,400,000…1,075,000…200,000
1,258,000…..710,000
1,390,000…..900,000
1,456,000…..975,000…375,000
1,900,000…1,000,000…400,000
1,240,000…1,105,000…240,000
1,265,000…1,000,000…250,000
1,245,000…..934,000
1,360,000…1,280,000…100,000
1,205,000…1,053,000
1,238,000…..980,000…250,000
1,234,000…..987,000…200,000
1,305,000…..700,000
1,435,000…1,000,000…291,000
1,250,000…1,000,000
1,412,000…..980,000
1,409,000…1,120,000
1,378,000…1,250,000
1,762,000…1,000,000…321,000
1,790,000…..870,000
1,351,000…1,201,000

Needless to say, this is fairly indicative of the situation in this price range across many parts of north and northeast county, especially some of the newer construction, at least based on the data I’ve examined. (there will be exceptions of course).

Also, it’s really worth looking at the difference between renting and buying right now. Be sure to factor in property taxes, HOAs, additional utility/maint bills, home depot weekend runs, opportunity cost of capital if the market sits flat-to-down, etc (as many have already pointed out on this site). In most neighborhoods, renting wins hands down, no question.

Sorry for the long post, just thought it might be helpful for anyone on the fence right now, as we were. I’m not an expert by any stretch, but would recommend that buyers do a deep dive on any home they are thinking of purchasing. Would also be great to hear about other folks’ experiences in north county and what they’ve seen in the last year or two.

[Anonymous]

More on Carlsbad list prices:

Thanks for the info Amy, very helpful. Your post describes what my wife and I have been running into in this price range, especially within Carlsbad. We had to sell a couple years ago to move to NYC but are now back here due to work transfer. We have been actively looking the last 6 months, but have decided to sit it out for another year or two (at least).

Main reason is I think a fair amount of sellers are stuck trying to get back not only their large debt balances but also the massive upgrades they decided to add (in some cases). To answer your question, we’ve put in sub-list bids on a few homes but have seen a couple of them go into escrow at or near the list price. Both had asking prices well above what the buyer paid 1-2 years ago, so I looked into it a little further as I didn’t understand why (see below).

Some additional color for the blog, if anyone is interested. Hope some will find this helpful:

The Bay Collection (off Poinsettia just east of route 5) is a great example of what I mentioned above. Most of the sellers in there are currently asking considerably more than what they paid new just a couple years ago, arguably right at the peak of the market. Upon closer inspection, there are some pretty sizeable loan balances on these homes, especially the 2nd mortgages, which is pretty scary considering these homes were purchased very recently. The one home we really liked over there was owned by an investor who bought about 10 homes/commercial properties in the last 3 years and apparently now has 8 of them on the market (his realtor obviously didn’t need to disclose this, so my realtor helped us do the research). He was asking 300K more than what he paid and told us an offer near what he initially paid would be way too low, so we walked.

I didn’t show any addresses, but you can see the original (circa 2005) sales price, 1st and 2nd mortgage balances for the homes on the nicest circle in that tract. By the way, this is information that your realtor can and should provide (as many of you may already know)

Original Sale….Mortgage 1….Mortgage 2
——————————————-
1,650,000…1,000,000
1,100,000…..900,000….20,000
1,430,000…1,143,000
1,295,000…1,036,000…130,000
1,549,000…1,000,000…394,000
1,182,000…1,211,000
1,320,000…..680,000
1,199,000…1,220,000
1,407,000…..825,000…200,000
1,250,000…1,000,000…250,000
1,438,000…..986,000
1,000,000…..800,000…150,000
1,139,000…..838,000
1,656,000…1,324,000…165,000
1,191,000…..833,000
1,400,000…1,075,000…200,000
1,258,000…..710,000
1,390,000…..900,000
1,456,000…..975,000…375,000
1,900,000…1,000,000…400,000
1,240,000…1,105,000…240,000
1,265,000…1,000,000…250,000
1,245,000…..934,000
1,360,000…1,280,000…100,000
1,205,000…1,053,000
1,238,000…..980,000…250,000
1,234,000…..987,000…200,000
1,305,000…..700,000
1,435,000…1,000,000…291,000
1,250,000…1,000,000
1,412,000…..980,000
1,409,000…1,120,000
1,378,000…1,250,000
1,762,000…1,000,000…321,000
1,790,000…..870,000
1,351,000…1,201,000

Needless to say, this is fairly indicative of the situation in this price range across many parts of north and northeast county, especially some of the newer construction, at least based on the data I’ve examined. (there will be exceptions of course).

Also, it’s really worth looking at the difference between renting and buying right now. Be sure to factor in property taxes, HOAs, additional utility/maint bills, home depot weekend runs, opportunity cost of capital if the market sits flat-to-down, etc (as many have already pointed out on this site). In most neighborhoods, renting wins hands down, no question.

Sorry for the long post, just thought it might be helpful for anyone on the fence right now, as we were. I’m not an expert by any stretch, but would recommend that buyers do a deep dive on any home they are thinking of purchasing. Would also be great to hear about other folks’ experiences in north county and what they’ve seen in the last year or two.

[Author]

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