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sdrealtor
ParticipantNew listings 7 – mostly tenant occupied or prior rental
New Pendings of 12 –
Thats -5
Closed sales at 21 –
Price reductions at 1 –
Total houses for sale 31 with median of $2.295M.
Much of the new inventorty this week is vacant or tenant occupied which makes ense. If your lease ended or will soon and you want to sell best to get it on the market rather than leaving it empty or renting it for an other year. If you want out no time like the present
Looking at the rest nearly all is challenging to sell due to price point , being overpriced or having some other issue that makes it challenging
ParticipantNew listings 4 – 3 flips and perhaps someone trying to get ahead of the market
New Pendings of 3 – cleaned up what was left last week
Closed sales at 10 –
Price reductions at 0.
Current inventory at 5 at median of 959K
Currently on the market. The long time tenant occupied you cant see, 3 vacant flipped homes (one is long time owner flipping their own home) and one sale looking for a rent back. The last one looks interesting. If its what I think thats a smart move. They are selling now and looking for a rent back which they should be able to get. This way when listing activity picks up in Jan/Feb they will have nothing to sell and cash in the bank so they will be strong buyers and have best chance of success. Kudos to them if that is what they are up to
ParticipantAgreed! I remember arguing with CAR et al that this place was fundamentally changing and being laughed at. This is not our parents San Diego anymore and it quickly wont be ours anymore
ParticipantSadly most learn the only way to really get your current market value is to change jobs. If you don’t you get stuck in a dead zone
Participant#livingtheflyerlife
Participant[quote=barnaby33]How did this thread turn into a pissing contest?
Josh[/quote]It’s not a contest. All the suburban beach towns are on fire along the coast. Prices and rents insane. Demand for both equally insane. The old rules no longer apply. Didn’t see that coming
ParticipantExactly that’s a dumpy 3br twin home. It should be listed at no more than $4k. A decent single family would have many apps. Nice homes listed much higher have no issues either. There are tons of high priced rentals up here, in fact the high end rental market here seems to be significantly stronger than in Carmel Valley. My 5/3 2700 sq ft nothing special but in a nice neighborhood would rent very easily for $6k.
One of my good friends never had an issue renting her 3200 sq ft tract home with a nice view for $8k until she sold it last year
ParticipantNo better here
New listings 10 – six of those went into escrow after a day or two
New Pendings of 15 – counselors are standing by
Thats -5
Closed sales at 31 –
Price reductions at 5 – just silly to reduce the overpriced home you’ve sat on for months now. Mights as well stick to your price and wait until Spring
Total houses for sale 28 with median of $2.675M. This time last year we had 79
ParticipantWelcome to sleepy time
New listings 1 – its already in escrow
New Pendings of 4 – cleaned up what was left last week
Closed sales at 10 –
Price reductions at 0.
Current inventory at 2.
A probate sale you can wait in line to see next week on the one day tenats are allowing and submit one of many offers on it
A tenant occupied home home you cant see which has been sitting on the market that way 6 months. Submit a full priced offer sight unseen offer on an overpriced home and they may let you see it
The store is closed
ParticipantLa Jolla ain’t that unique. It’s the same up here all along the north county coast. No problem renting out properties 6k and a lot higher. Don’t extrapolate what you see where you live to other places your less familiar with
I’ve got a friend from back east that will be renting her soon. Looking for 2-3 bedroom place. When I told him 6k plus he said no problem. He’s far from a senior. I’ve rented houses out for people up here. Lots of folks making $300k – 500k and more around here
Here’s a dumpy twin home
Participant[quote=Coronita]It is done. My new tenant has paid me the security deposit and this month’s pro-rated rent.. He moves in tomorrow. Fastest lease so far @ 5 days turnaround.
Did not lose $$$ due to vacancy, since it was only a 5 day gap, and the prorated new rent is still more than the last tenant’s full month rent.[/quote]
congrats. That’s a win
Participant[quote=gzz]6k for 2600sf in CV sounds very possible. Mine is about 2100sf, but the yard is huge and makes it feel bigger, 2 floors on 7k sf lot. I would price mine at 5500 if empty and see if there are good prospects.
Higher end like that has worse rent to price.
The market of people who are good tenants, have 72k a year for rent, and want to stay 12+ months is tiny. Buying makes much more sense.[/quote]
Not up here. Loads that fit that profile
ParticipantNew listings 6 – steady dropping into holidays
New Pendings of 14 – buyers still very active
Thats -8
Closed sales at 10 –
Price reductions at 0
Total houses for sale 33 with median of $2.35M
This time last year inventory was 84 so a 60% decline from what was a historically low inventory last year. As expected double digit pendings but not by much as there isnt all that much to buy. There are about 15-20 of those that are very high end, dramatically overpriced or have issues that make them difficult to sell. Some may give up and would not be surprised to see inventory bottom out around 20 by year end but that would take some doing.
Dont expect much to report next month
ParticipantNew listings 1 – a vacant home owned by Redfin
New Pendings of 6 – buyers still out there
Closed sales at 13 – median sales price was $920K.
Price reductions at 0.
Current inventory at 4 with median price of $981K.
Of the 4 on the market 2 are in multiple counters so basically gone. One has tenants and cant be shown. There’s pretty much 1 house on the market. Its a nice home remodeled by one of the big flippers in town but the backyard is all pool and its about $1M. Shouldnt last much longer either way.
MM is closed for the year. There could be some drips and drabs of activity here and there but the shelves are/will be empty. Expect prices for a 3BR home to start at $800K+ when it re-opens in Mid January unless a house is a disaster.
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