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sdrealtor
ParticipantNew listings 5 (10)
New Pendings of 6 (14)
Closed sales at 2 (6)
Inventory at 29 (16) with median of 965 (887)
Pendings bounced back to the range we’ve been seeing. Market feels well balanced here for now
October 7, 2022 at 6:39 AM in reply to: You folks that took out 30 year loans / refinances at 3% or lower…you’re banking now. #826793ParticipantHuge for mine also. I crave safety and security. I always pay my own way. Having minimal fixed monthly expenses changes everything about my being. It allows me a sense of calm and to fully be myself
ParticipantA well aged Cabernet and a mixed green salad just won’t cut it
ParticipantInteresting tidbit is they have since closed up shop leaving that county in a state of emergency as it was the largest and basically only non-governmental employer
ParticipantNew listings 9 (19) – still little coming on market
New Pendings of 12 (28) – and little selling
Thats -3
Closed sales at 12 (24)
Total houses for sale 100 (59) with median of $1.99M ($2.5M).
Inventory went up a couple this week which happened last year also. No idea if that means anything.
Funny thing is a couple months ago I thought we might get flat y-o-y innventory here but not in MM. Fast forward and I think the opposite is true now. The higher interest rates seem to be hitting the higher priced inventory harder
October 4, 2022 at 6:06 PM in reply to: You folks that took out 30 year loans / refinances at 3% or lower…you’re banking now. #826759Participant[quote=svelte][quote=Coronita]
But it’s not your cash to begin with.. it’s borrowed. And if it was taken on a primary.. your equity was just sitting there doing nothing anyway. Your primary isn’t earning money..[/quote]
Neither is the money your borrowed.
Let’s say you borrowed 500,000 at 3%. That’s costing you $15K per year.
Let’s say you put that 500,000 in a CD earning 4.25%. That’s 21,250
21250- 15K = 6250.
Say you pay 30% taxes, state and fed. 21250 x .30 = 6375. You’re underwater.
Let’s be very generous and say you pay 25% taxes, state and fed.
21250 x .25 = 5312. you made $900.[/quote]
You can deduct interest on a first mortgage on your primary
ParticipantNew listings 4 (9)
New Pendings of 3 (9)
Closed sales at 11 (9)
Inventory at 27 (17) with median of 985 (850)
Bit of a down week for pendings as rates bite into demand. From time to time I look back at my posts from the past as well as the trends I see on my spreadsheet.
Last year we normalized sales above $1m in MM. We also normalized sales of the typical one story 3 or 4 BR between 1100 and 1400 sq ft in the high 900’s/low 1M range through Spring. Now I see a re-normalizing of those homes selling in the 800’s now (skewing toward mid to high 800’s). There are a bunch (about 10) on the market in that range right now and Id suspect we’ll see them gradually sell over the next few months. Above that seems to have gotten tougher
October 4, 2022 at 9:07 AM in reply to: You folks that took out 30 year loans / refinances at 3% or lower…you’re banking now. #826749ParticipantThose sub 3% mortgages were the opportubnity of a lifetime!
ParticipantSpoke to some agent friends. Market over $2m + very quiet at moment. Few lookers
Participant[quote=ncsd760]I know the temperature has cooled since Sitio Abeto didn’t go flying off the market this weekend. Truly one of the most spectacular (resale) tract homes I’ve seen in a while.[/quote]
Acedera gave up after 30 days of trying. Agent remarks say they decided to stay but I know they kinda would prefer to go. I suspect we’ll see this house in the market again in the next year or two
ParticipantSorry got busy and forgot to post the numbers
New listings 11 (11) – still little coming on market
New Pendings of 16 (22) – and little selling
Thats -5
Closed sales at 18 (21)
Total houses for sale 98 (57) with median of $1.98M ($2.65M). Last year there was very little on low end left hence the high median
Continuing to see more sellers give up. We usually see lots take em off the market starting in Mid Nov for the holidays but it feels like its starting earlier
ParticipantThx for the reminder. Done
ParticipantNew listings 2 (8)
New Pendings of 6 (9)
Closed sales at 4 (12)
Inventory at 29 (18) with median of 985 (855)
Inventory continues creeping down and off July peak count by 1/3. Chugging along here. Anecdotally from what Ive seen here and other similar priced markets, the market in this range is holding up better than higher priced markets.
ParticipantJust checked and lowest price there is Costco at $4.39 vs lowest price here of $4.99. Its lower but not by much and very high compared to incomes there. And I’ll add that SD has some of the highest prices in CA
My water bill is about $50/month. My sewer bill is $415.84/year and is on my tax bill. How does that compare to St Jorge EP?
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