Archive for December, 2008
San Diego Real Estate News Upbeat: Sorta
December 11th, 2008 Categories: Market Trends, Real Estate News, San Diego Market Trends, San Diego Real Estate
San Diego real estate news isn’t all that bad.
Sales of single family resale homes rose for the fifth month in a row, gaining around 40 percent in November, 2008 compared to the same month last year. And compared to 2007, San Diego area home sales for 2008 are up 8.2 percent.
But metro San Diego median home prices tell another story.
While sales may be rising, prices are dropping and that’s due to the plethora of short sales, foreclosures and desperation deals. Overall, median home prices in San Diego were off 6.8 percent in October–and off a full 35.6 percent year-over-year . Average prices are equally interesting: Off 13.4 percent month-over-month, and off 40.7 percent compared to November, 2007– according to Rick Campbell and rereport.com
A fair and reasonable conclusion?
Sales are rising because real estate prices are dropping. This in turn attracts first time home buyers, investors and those buyers who have been waiting in the wings for opportunities like these.
Please understand these are global numbers for all of San Diego and not taken into account are the myriad micro markets–where local statistics may vary greatly from those presented here.
If you are interested in detailed statistics for a particular zip code in San Diego County, just email roberta (at) SanDiegoPreviews.com or call 760-402-9101 and we’ll send them to you.
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Agents We Can Do Without
December 3rd, 2008 Categories: New Homes, Oceanside
At this moment, I am growling under my breath at the sleaziness of two San Diego real estate agents who would throw their clients under the bus in exchange for a few thousand dollars.
In the last couple of weeks, we have had two agents come into the Oceanside Terraces–a luxury downtown Oceanside condo development we have listed. One agent with a major franchise came in by himself and asked numerous questions about the building. Finally, with no squirming and a smarmy smile, he proposed that we up his sales commission to four percent if he could convince his client(s) to pay a premium price for one of our condo listings.
Partner Eve Sieminski and I were stunned by his proposition–and I couldn’t help but snarkily suggest that we might consider doing so if he fully disclosed to his client, in writing, what he was doing.
Smarmy real estate agent has not returned.
A few days ago, another agent from a small and independent real estate office brought a very interested client through the property and returned later to request, repeatedly, a $10,000 bonus if his client bought one of our listings. Eve repeatedly told him there was no bonus for anyone–and agent repeatedly said another local builder was offering a $10,000 bonus–and that if we couldn’t offer the same he would steer his client in that direction.
Grrrrr!
I am not a big fan of real estate bonuses–unless they are being offered to the buyer. In fact, we share bonus information with our clients and use it as a negotiating tool if making an offer. As far as we are concerned, bonuses belong to our clients. Furthermore, most properties offering bonuses are overpriced–and would be better served by simply reducing the list price.
For more upbeat reading about Oceanside:
Oceanside Urban Luxury: Oceanside Terraces
San Diego Baby Boomers: The Wish List
Fun at Oceanside and San Diego Farmer’s Markets
Oceanside and San Diego a Bargain for Foreign Investors
Things to Do with Kids in Oceanside and San Diego
Oceanside and San Diego Real Estate Irresistible to Foreigners and Expats
Things to Do in Downtown Oceanside
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