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sdrealtor
ParticipantPerry
One quick comment re your point“These people are real estate agents so they can be considered “professionals.” Do you think that other agents throughout the country have invested in real estate as well? You betcha.”
I think you might have this backwards to a lagre extent. It is not only the case that Realtors become investors but also Investors become RE agents to save on transaction costs. Our own SD R is a perfect example.
ParticipantOne last thing. I started tracking CV last August on a weekly basis. On 8/14/06 there were 298 SFR on the market in 92130. Today there are 158.
ParticipantOne last thing. I started tracking CV last August on a weekly basis. On 8/14/06 there were 298 SFR on the market in 92130. Today there are 158.
ParticipantHappens all the time. If you walked into the mall and saw a big pile of cash sitting on a table in the food court you could grab it. If you hesitate someone else will. If it was the deal you said it was, I’m not surprised someone else came along during your indecision. Unfortunately in RE matters time is of the essence. If the rumopr is true there is no way they will sell for $1.1M even if it doesnt materialize. Hopefully another such opportunity will come along at some point in the future.
ParticipantHappens all the time. If you walked into the mall and saw a big pile of cash sitting on a table in the food court you could grab it. If you hesitate someone else will. If it was the deal you said it was, I’m not surprised someone else came along during your indecision. Unfortunately in RE matters time is of the essence. If the rumopr is true there is no way they will sell for $1.1M even if it doesnt materialize. Hopefully another such opportunity will come along at some point in the future.
Participant5/15 to 5/22
new listings – 26
back on market – 6 (2 fell out of escrow, rest were temp off market)Total growth in inventory – 32
pendings – 13
expired – 1
withdrawn – 0
cancelled – 2Total decrease in inventory – 16
Net change in inventory – plus 16
Probably the biggest surge in inventory I’ve seen in a while there with lots in the 800’s and 900’s added to the mix.
Participant5/15 to 5/22
new listings – 26
back on market – 6 (2 fell out of escrow, rest were temp off market)Total growth in inventory – 32
pendings – 13
expired – 1
withdrawn – 0
cancelled – 2Total decrease in inventory – 16
Net change in inventory – plus 16
Probably the biggest surge in inventory I’ve seen in a while there with lots in the 800’s and 900’s added to the mix.
ParticipantA quick note to the NCC followers. SFR inventory is down 23% (603 to 468) from this time last year and pendings are up 23% (147 to 180). Anecdotally, my guess is that May’s sales figures will be abysmal. The issue is that listings are way down too so the balance is not shifting quickly to the buyers side. Looking more and more like a long, slow slide down around here.
ParticipantA quick note to the NCC followers. SFR inventory is down 23% (603 to 468) from this time last year and pendings are up 23% (147 to 180). Anecdotally, my guess is that May’s sales figures will be abysmal. The issue is that listings are way down too so the balance is not shifting quickly to the buyers side. Looking more and more like a long, slow slide down around here.
ParticipantGood catch! Its 2260.
ParticipantGood catch! Its 2260.
ParticipantUpdate time!
Short sales 2,199 up from 2,113 last week! Increases are steady but there hasnt been a surge in the velocity.
Total SD County Listings 17,548 another small climb from 17,243 last week. Inventory has not flooded the market and I dont think it will. Last two big listing waves are around June 1st and late June after school lets out.
Quick update on NC Coastal. Active listings(463 to 468) and pendings (174 to 180) are both up but pendings a little. The ratio of active to pending also went down a little. Not much change here. I still dont have my data from the last few years to check against the pattern and will try to get to it later.
We’ll take a look at Carmel Valley tommorrow.
Anecdotes from the field. I was out showing homes in Del Mar this weekend. A very nice 3350 sq ft was listed for $1.7M last week and there was bumper to bumper traffic through it. There were two other showings the same time as me and I even got blocked in the driveway. From what the agent said, it was shown about 20 times over the weekend. It wasnt what my clients were looking for but if it was they would have written an offer on the spot. I’d be surprised if it isnt sold by the end of Memorial Day.
ParticipantUpdate time!
Short sales 2,199 up from 2,113 last week! Increases are steady but there hasnt been a surge in the velocity.
Total SD County Listings 17,548 another small climb from 17,243 last week. Inventory has not flooded the market and I dont think it will. Last two big listing waves are around June 1st and late June after school lets out.
Quick update on NC Coastal. Active listings(463 to 468) and pendings (174 to 180) are both up but pendings a little. The ratio of active to pending also went down a little. Not much change here. I still dont have my data from the last few years to check against the pattern and will try to get to it later.
We’ll take a look at Carmel Valley tommorrow.
Anecdotes from the field. I was out showing homes in Del Mar this weekend. A very nice 3350 sq ft was listed for $1.7M last week and there was bumper to bumper traffic through it. There were two other showings the same time as me and I even got blocked in the driveway. From what the agent said, it was shown about 20 times over the weekend. It wasnt what my clients were looking for but if it was they would have written an offer on the spot. I’d be surprised if it isnt sold by the end of Memorial Day.
ParticipantFSD
I put a focus on NCC because that is where I live and work. Understandably the world does not revlove around it. As all markets are very local, it would be nice to seem some other RE folks step up and provide the group an ongoing thread on what is happening in their home area. I’d love to learn about them also as invariably we are all interconnected to some extent. Not to say that anyone is providing data that will be the end all it would be interesting to see how things progress across different parts of SD. How bout it?SDR-Scripps, PQ
Rustico-San Carlos is all you have mentioned
ANyone else…….? -
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