San Diego Real Estate

San Diego Luxury Builder: 2007 Worst in 40 Years

Carlsbad FSBOs and Short Sales: Uh Oh

February 18th, 2008 Categories: Aviara, Carlsbad, La Costa, Market Trends

by Eve Sieminski and Roberta Murphy

Eve and I spent the afternoon studying For Sale by Owner (FSBO) sites and researching these Carlsbad listings and Carlsbad real estate through our local San Diego MLS.

The results are very interesting–and were enough to keep us at this real estate task for most of the day.

Some casual observations:

The vast majority of these Carlsbad FSBO listings are overpriced. Are the owners relying on outdated information from Zillow or wishful thinking when pricing their homes?
Many of those who purchased their Carlsbad homes in 2005-2006 may face difficulty if they need to sell today.
The majority of the advertised FSBOs are in short sale position. In other words, these sellers owe more than what their homes are likely worth. This leads us to wonder: How prepared are these sellers to negotiate with lenders and keep buyers on the line?
We observed several expired listings in Carlsbad that are now listed as For Sale by Owner. Prices generally stayed at the original listed price. Might price have been a reason these homes didnt sell in the first place?
Carlsbad homes in the 92011 zip are selling the fastest, and seem to be holding values the best. This is because this area is closest to the beach and includes the planned community of Aviara. Market absorption rate here is 39 weeks.
La Costa homes in the 92009 zip are burdened with a number of newer subdivisions including La Costa Greens, La Costa Oaks, La Costa Ridge, and Bressi Ranch. Most of these Carlsbad homes sold in the 2005-2007 timeframe and those re-entering the market now will have difficulty breaking even and may even face a loss. Market absorption time in the 92009 zip is running 49 weeks.
North coastal Carlsbad in the 92008 zip code surprisingly has the longest market absorption rate: 60 weeks. This could be because many of the homes are older and current buyers are favoring newer properties.
Northeastern Carlsbad in the 92010 zip has a market absorption rate of 50 weeks. This area is predominantly populated by the newer construction in Calavera Hills, but also has some established older neighborhoods.

Eve and I are continuing our market studies so that we can better advise our clients who need to sell their North San Diego County homes. Real estate is selling, and we are even managing to garner multiple offers for our attentive Carlsbad sellers.

All too often, a home seller assumes that because his or her home has granite surfaces, stainless appliances and a jetted bathtub the home is worth substantially more than an unimproved one down the street.

We are finding, though, that most buyers will bargain for the cheaper home and use the savings to make improvements to their own liking.

Where is the San Diego Market Bottom?

San Diego Realtors Seeing Double¦Offers

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Argyle Steakhouse: Aviara Fine Dining

January 19th, 2008 Categories: Aviara, Carlsbad, Luxury Resorts, San Diego

by Roberta Murphy Aviara Argyle Steakhouse in Carlsbad

The Argyle Steakhouse at the Aviara Four Seasons Resort in Carlsbad, CA has long been a family favorite. The food is sublime, the views are exquisite and the ambiance is casually elegant. It was and is the perfect place for leisurely breakfasts and business lunches.

Of course, it is also part of Aviara Four Seasons, and we would expect nothing less from Aviaras premier resort.

This Aviara restaurant has been a favorite with golfers, locals and visitors since it first opened its doors in 1991. It is now the only chop house in Carlsbad serving dinner with lovely views over both Batiquitos Lagoon and Aviaras beautiful Arnold Palmer signature golf course.

Prior to December, 2006, the Argyle served only breakfast, lunches and fabulous Sunday brunches.

The newly-named Argyle Steakbouse now offers so much more, including a knock-out dinner menu.

This evening fare, crafted by Chef Kurtis Habecker, offers an array of fine seafood, fowl, with a keen focus on beef from noted sources, including the richly-marbled American version of Kobe beef otherwise known as Wagyu.

Diners appreciate the extensive complementary wine list. Side dishes are traditional and a devilishly decadent desert menu is available for the reckless and the courageous.

Soft jazz floats through the refurbished dining room that sports red leather-topped tables, set with offerings of Hawaiian red sea salt and impressive Laguiole steak knives.

Lunches range from $12 to $25, and dinners from $25 to $78.

The Argyle at The Four Seasons at Aviara is located at 7447 Batiquitos Drive, Carlsbad, CA and reservations may be made by calling 760 603 6908.

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1756 Verdin Court in Poinsettia Heights, Carlsbad, CA 92011

November 26th, 2007 Categories: Aviara, Carlsbad

Verdin Court home in Poinsettia Heights borders Aviara, in Carlsbad, CA 92011 This Carlsbad home sold in less than three weeks back in 2003, and at that time we set a record for the highest price ever paid for this 1720 square-foot model: $446,000.

And what a Carlsbad listing it was–with a great story to boot.

This highly upgraded Poinsettia Heights townhome with views over Carlsbad to ocean was nothing short of what San Diego real estate buyers were seeking in those days. It offered new diagonally-laid tile flooring downstairs, new granite kitchen, marble master bath, and a powder room whose ultimate cost had yet to be revealed to the husband. To appease him, another king’s ransom was spent on the garage with gleaming epoxy flooring and over-the-top garage storage.

Located adjacent to the Carlsbad community of Aviara, Poinsettia Heights is a gated community near parks, the South Carlsbad State Beach, good schools and shopping.

For current availabilities in gated Poinsettia Heights, call Mike or Roberta Murphy at 760-402-9101/9102 or toll free at 877-818-8197

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