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sdrealtor
ParticipantHeading into the weekend. We have 5 new listings for resale SFR’s. Hopefully a surge coming soon. This is a trainwreck
February 2, 2022 at 12:12 PM in reply to: San Diego drastically outperforms Bay and LA on rents #823833ParticipantLOL
February 2, 2022 at 9:42 AM in reply to: San Diego drastically outperforms Bay and LA on rents #823829Participant[img_assist|nid=27507|title=Sd|desc=|link=node|align=left|width=97|height=100]
Pretty amazing to see what’s become of our little Navy town over the past two decades. Pretty humbling to be in the company we are in
ParticipantMore of the same if not worse relative to last year
New listings 12 (21) – should be trending up but isnt
New Pendings of 16 (33) – could sell 5X easily if we had it
Thats -4
Closed sales at 13 –
Price reductions at 0 –
Total houses for sale 24 with median of $2.585M.
Inventory half what it was last year. This was the week one year ago it started getting better but not this year. Maybe next week
In my hood first house to be listed in 3 months is coming soon. Last sale of this model was 10 months ago. It was listed for $1.4 and sold for 1.6M. This one will be listed for $2.1M. Its not impossible that we’ll see it sell 50% higher than the one a year ago. One to watch
ParticipantMore of the same
New listings 3 (6) – less than half last year
New Pendings of 2 (11) – still nothing to buy
Closed sales at 4 –
Current inventory at 3 (8) with median of 982K
New listings and inventory half what it was last year when we were already complaining
ParticipantOut here looking for homes for a few clients and one thing struck me. Looking at inventory volume only tells half the story up here. I’ve been watching this micro market and tracking it very closely for 25 years now. In the past nearly all the listings were typical middle of the road homes for the area. Very rarely did one see prime coastal properties hit the market to any degree. Was always one here, one there. Now when I watch the flow it seems like half the new listings and often more are what I’d consider in the top 1/3. That does two things. It means it’s even tougher for the entry and average buyer around here. It also means the median up here is being driven to a bigger extent by the mix of the inventory. Looking just at how many homes are on the market does not show how thin it is. As an example my neighborhood of over 1,000 traditionally had 10-20 homes on the market at all times until the last few years. It’s been 3 months since one hit the market. I know there have gotta be some coming but this is a destination neighborhood that buyers watch and wait to get into. Those first listings are gonna get overwhelmed with interest. Will report once it happens
ParticipantVoice of experience
ParticipantI feel for you, it’s brutal out there. Right now it seems as if a house is priced fairly one should expect it will go roughly 10% above asking price depending upon lot , location and condition it could be plus minus but that’s my rule of thumb at the moment
ParticipantNo one wants to move away from here either
New listings 10 (14) – back down we go
New Pendings of 23 (23) – double digit offers and prices 10% or more above asking are the general rule
Thats -13
Closed sales at 10 –
Price reductions at 0 –
Total houses for sale 21 with median of $2.7M.
Same time last year we had 50 sfr’s. Inventory is down 60% Y-O-Y. We thought it was incredibly low last year.
Tide is going out not coming in for now
ParticipantSo no one seems interested in moving away
New listings 3 (7) – less than half last year
New Pendings of 4 (5) – still nothing to buy
Closed sales at 5 –
Current inventory at 2
One of the listings is 2br/1ba 740 sf that Zillow overpaid for and is smaller than many 2br apartments. The other is nice one but seller looking to close quickly but not move out until end of May. Im gonna call that essentially nothing for sale
Participant[quote=SkyRanchOwner]Still here in Sky Ranch. It’s been a great community. New listings are rare up here, and houses keep increasing in value. Quick access to the interstates/state roads. Convenient location. Can’t beat the views and 20 min drive to La Jolla Shores on the 52. Ha! Lots of curb appeal in the community and pride of ownership.
Highest sale recorded: $1,600,000 for 3,270 sq. ft., 5 BD/4.5BA. Fantastic 270 degree view! Closed 7/2/21.
https://www.zillow.com/homedetails/5144-Sevilla-St-Santee-CA-92071/89228913_zpid/
Here’s a recent comp: $1,355,000 for 2,418 sq. ft., 4BD/2.5BA. Great West facing view! Closed 1/11/22. Original sale price from Lennar on 10/21/08 was $585k. Then resold/last recent sale on 4/25/14 for $615k.
https://www.zillow.com/homedetails/5078-Sevilla-St-Santee-CA-92071/83893066_zpid/
Not a bad ROI for East County.[/quote]
FWIW ROI Is pretty much in line with most of SD though perhaps lagging the coast by a bit
ParticipantSorry to hear the drive to La Jolla is now 20 instead of 15 minutes. Thoughts and prayers
ParticipantChange of pace. Today would have been my ex-GF’s 50th birthday. She absolutely loved jokes. One day she was driving home from work (as a teacher) and heard a punchline that made her pee her pants. She came home, googled it, wrote it down and practiced telling it in front of a mirror until she got it down perfectly.
We went out a lot and she told it to everyone we met, complete strangers. I laughed everytime she told it because it was so good, the delivery so perfect and the surprise on peoples faces a joy to watch until they gave in and laughed out loud themselves. She was very attractive with a certain undeniable sex appeal that was perfect for the joke.
Before her passing a couple years ago, I promised her I wouldnt let people forget she was here. I regularly post things on FB for friends and family to enjoy and remember her. But I saved the joke until today on what would have been her 50th to share with family and friends that didnt get to hear her tell it.
If anything could encapsulate her spirit its ALL right here in this joke. So on this day I’ll share it with you all also. When you get to the end imagine her wiping her hand across her mouth while delivering the punchline.
Svelte I know you’ll love this
[img_assist|nid=27506|title=joke|desc=|link=node|align=left|width=83|height=100]
ParticipantWow! Markets crashing all around us and it felt like nothing could save us. What a stunning reversal. It’s as if someone single-handedly turned it around
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