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sdrealtor
ParticipantSimple answer
Dude, that’s not my problem
Participant[quote=davelj][Sorry, just getting back to this thread…]
I have one word for investors: BUYYYYYYYYYYYYYYYYY!!!
Kidding, of course. I think. Actually, I’m not sure, maybe folks should be buying. I have no idea.
I’ve been totally wrong about this incredible, amazing rally so really no one should listen to me. After almost 25 years of having a pretty good understanding of how financial markets work, I have come to the conclusion that my views are no longer relevant and possibly counterproductive… I simply don’t understand how markets work; today’s prices tell me so. Ha!
Cryptos (including “joke” currencies with multi-billion dollar valuations), NFTs, $30 trillion in “free” money via the Global Powers That Be, 6% (alleged) inflation vs 3% 30-year treasury rates (might be the weirdest of them all), Price/Whatever ratios (further and further) in the stratosphere… none of it makes any sense to me. But it appears to be the new reality. No amount of negative news about anything appears to crack these markets – in fact, the opposite. So, there you have it.
I wish everyone the best of luck in these strange – sorry, new normal – times.[/quote]
Never underestimate the power of the passage of time.
Maybe it’s time to consider marriage as well
ParticipantNew listings 14 – big annual drop off is aorund the corner
New Pendings of 22 – demand keeps chugging along but few things to buy
Thats -8
Closed sales at 23 – still seeing things close 6 figures over asking but fewer of them than during peak frenzy a few months ago
Price reductions at 2
Total houses for sale 49 with median of $2.65M
This time last year there was 99 for sale. Inventory is half what it was. Keep packing the powder the keg
ParticipantNew listings 10 –
New Pendings of 14 –
Closed sales at 6.
Price reductions at 0.
Current inventory at 16 with median price of $887K
Of the 16 houses on the market over half have offers and arte negotiating. If they moved faster pendings would be over 20. This is a very solid market
Participant[quote=jmw]Redfin. Cuz they’re in the middle of a flip down the street[/quote]
So I ran numbers for Redfin and they only have about 26 in SD County. The big players are Opendoor which has about 130 and Zillow which has 242. Generally speaking these are mostly in lower and middle class areas or attached/condos. its hard to know exactly what zillow pays but they seem to be losing money on most of what they buy and sell and are tring to figuree out the business model rather than turn a profit
ParticipantSorry for delay, I missed deadline for sending my 1/4ly dues and mls got cut off. Paid it and should have it back shortly. I’ll take care of it then
ParticipantReally interested to see what that house ends up going for as it is really the perfect lot to add an ADU and there’s a very good chance the buyer is looking at it that way. Would help to get an idea as to what someone would value a lot like that over and above what the house alone would sell for.
In case anyone is interested this is the house in question
https://www.zillow.com/homedetails/2878-Avenida-Cereza-Carlsbad-CA-92009/59308886_zpid/
Participant[quote=Jim the Realtor]>>Stopped by broker open house around the corner today. Was talking to agent. House was listed yesterday. Already has 7 showings booked for Saturday that are all cash buyers. Bay Area.
She got 15 offers.[/quote]
No surprise. There should have been two houses built on that lot. Its perfect for adding an ADU or more. Its crazy here! Im starting to plan mine. If I build what I hoping to, it would be a house that could sell for around $1M itself if it was on its own parcel. The value of land here is insane
ParticipantTesla is moving the front office but expanding operations in CA. Net-net is nothing. And CA is constantly birthing new unicorn companies. The premature demise of CA could be the WSJ’s favorite new story the last 40 years
Participant[quote=EconProf]Yep, it’s not for softies.
BTW, it is not as hot as the fastest growing big city in the US: Phoenix.[/quote]
Some would say the residents even glow!
Participant[quote=jmw]Can you easily search ibuyer activity? Sales with no listing[/quote]
What I can do is search a specific company in the tax records and tell you how many homes they own. Any you are interested in?
ParticipantFulvia house just closed 70% above the 2019 new purchase price
Participant[quote=sdduuuude]This is all nice and all – but Rich makes charts for us. :)[/quote]
I’ve got the raw data and it’s linked to graphs. I’m just not so good at posting them 🙂
ParticipantDress warm! A month ago it was 110. This weekend it will get down into low 40s. Such a paradise!
B9!
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