[sdrealtor]

[quote=XBoxBoy][quote=svelte]Perhaps not happy until others are unhappy[/quote]
The irony of this statement is wonderful. I mean this thread is chock full of posts that could be used to argue this. Why do so many feel the need to tell EconProf what a miserable choice they’ve made?
[quote]Or unsure of the huge decision he’s made and trying to convince others to take the same path for validation[/quote] How is it different than those that have stayed and want to convince others how wonderful it is where they have stayed and how foolish anyone who left is?
[quote]Or perhaps trying to convince us he is smarter
[/quote]
Oh don’t even try to claim there’s only one side here trying to make themselves feel smarter.

Don’t get me wrong, I have no plans to move from San Diego, but I sure do wish y’all would just let EconProf sing the praises of Utah and help encourage others to move. We got plenty of people here and could easily lose a ton more without degrading our lives.[/quote]

It’s not about singing the praise of Utah, it is that this is all a thinly veiled ruse to trash CA by EP. If he was intellectually honest and said he’s going there to enjoy his kids and grandkids with a lower cost of living there would’ve been no issue.

[sdrealtor]

Excellent the world’s eyes will be on you this weekend. Maybe next year you’ll really step it up and get an archery tournament

FYI they picked a low population location with liberal covid restrictions and they anticipate there will be less than half the usual number of participants. It was moved there last second from New Zealand and they obviously had very limited choices. Dont plan on this being anything more than a one or two off occurence

[sdrealtor]

New listings 23 – back up to me typical levels

New Pendings of 24 – demand keeps chugging along

Thats -1!

Closed sales at 29 –

Price reductions at 6 -Some still struggling to get it right

Total houses for sale 61 with median of $2.3M.

Looking at closings most are closing at or around asking now. Still a few bidding wars but nothing like earlier this year. Looking like we will muddle through the rest of the year but watch out come Spring as the the spring will be getting wound tight the next few months

[sdrealtor]

Sorry for late report. Was out of town but ran em before I left

New listings 10 –

New Pendings of 13 –

Thats -3 change

Closed sales at 12.

Price reductions at 2. Some holdouts slowly coming down

Current inventory at 19 with median price of $849K.

Steady as she is

[sdrealtor]

[quote=EconProf][quote=sdrealtor]8 pm in Saint George and currently 93 degrees. Such bliss[/quote]

Yep, it is hot here for 4 months of the year. But remember that because of our mountains and higher elevation, there is a 30-degree swing in temperatures between late afternoon and early mornings, when an 87 degree high means mornings in the 60’s.
BTW, it is hotter in lower elevation Phoenix and Las Vegas, which doesn’t seem to slow refugees from CA to those rapidly growing cities.[/quote]

Fake News! It also reaches below freezing most days for four months out of the year. Thank you EconRoker!!

[sdrealtor]

8 pm in Saint George and currently 93 degrees. Such bliss

[sdrealtor]

I think I’ve aged fairly well. Early 50’s was running half marathons but late 50’s cant anymore. Grey is finally creeping in more and I’ve got to lose 20-30 lbs which I’m working on now that I’ve got the gout under control. Probably look better than I feel as decades of abusing body catching up. Wear what I’ve always worn. Mostly t shirts and jeans or shorts, flip flops or sneakers.

[sdrealtor]

[quote=gzz]SDR: we already debated how practical it is to add backyard units to an existing suburban style property.

I think it can make economic sense, but rarely will be a slam dunk.

Here’s the first result I saw looking for encinitas adu and jadu construction. I note it is a complete teardown and gigantic .27ac lot less than a full block to the beach.

https://www.zillow.com/homedetails/128-W-Glaucus-St-Encinitas-CA-92024/295343142_zpid/%5B/quote%5D

A 1 br around me is over $400k plus taxes and HOA of approaching $1000/ month. I can build a luxurious 2br /2ba for around $300k I could easily rent monthly furnished for as much as $5000 and at least $4000 or more’s I could easily get at least 3k on yearly lease. Tax increase will be minimal and no HOA fee. That 1br rents just over $2k.

Please explain how this is not as much of a slam dunk as exists anywhere?

Btw that house is nowhere close to a block from the beach unless you cut through someone’s property and jump off a 100’+ cliff

[sdrealtor]

[quote=XBoxBoy]First take note that SB9 has not yet passed and been signed into law.

I too wonder what will happen. I live in an area of LJ that is all single family homes. If this passes and someone decides to split the lot and build multiple units on a single lot I can only imagine the crazy level of outrage that will generate. So, I find it hard to believe that if passes and it seriously allows that, it won’t be overturned.

But I guess we will see.[/quote]

agree. It would be a mess in top school districts that could get overrun with students they dont have the capacity for

[sdrealtor]

I think the beach areas where there is plenty of multi family zoning and lots are small is less of an issue. The bigger issue is in suburbia in SFR neighborhoods with 10K sq ft lots. If I built 2 duplexes and 2 ADU’s on my lot we are talking over $20K a month in rents today and six or more cars

[sdrealtor]

[quote=gzz]-healthy single 30 something lifelong bachelor-

Well that was me up until March 2021.

Now I’m 40 w/preggo life partner.

Still healthy though![/quote]

Congrats and your life is about to change dramatically. Its like walking through a door and turning around only to see a wall. There’s no going back and life will never be the same. Enjoy the journey!

[sdrealtor]

Oh to be a healthy single 30 something lifelong bachelor

[sdrealtor]

Never tracked it but likely a good 10% fall out or higher. In a bigger market like this the numbers are more likely to be closer to the mean. Probably more than 5% there also. But in the end vast majority close all over around SD

[sdrealtor]

You’d think so but its not really. The real estate market is more than a bit funky so its best to track it multiple ways. Years ago I just tracked it that way and it did sync up with what was going on so i switched. With that said there is no perfect way, far from it. For me the key to to pick a couple and look at them consistently over time to get a feel for whats going on

As it is I need to make judgement calls along the way. Some examples, I remove new construction, twin homes that sometimes are listed as SFR, very small unliveable homes that are really land, homes that were sold off market and never really on the open market and a couple more categories. Its not perfect but its the best and I beleive most accurate way to do it.

[sdrealtor]

Sorry but they are not the same thing. I report how many more homes sell than hit the market but that isnt always reflected in homes on the market on a 1:1 basis. Two reasons are houses fall out of escrow (thats a +1) and houses get taken off the market (thats a -1). There are more reasons and this is not a perfect data set. Real estate data is self reported by thousands of realtors and every house/situation is different. Its why i always advise looking at all real estate data from askew.

It was never intended to be a hard and fast measure but multple measures to understand the direction and velocity of the action in the market. Does that make sense?

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