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Rancho Santa Fe Days-On-Market are Trending Down

03/24/2016 by admin Leave a Comment

THIS WEEK
The median list price in RANCHO SANTA FE, CA 92067 this week is $2,965,000.

The Market Action Index has been climbing lately while days-on-market are trending down, these point to a positive near-term outlook for the market.

SUPPLY AND DEMAND
While prices have been at a plateau for a number of weeks, this is a Buyer’s market and the supply of homes listed has started growing relative to demand. This indicates that prices could easily resume a downward trend in conjunction with the MAI. Prices are unlikely to move significantly higher until there is a persistent upward shift in the MAI.

PRICE
Again this week we see prices in this zip code remain roughly at the level they’ve been for several weeks. Since we’re significantly below the top of the market, look for a persistent up-shift in the Market Action Index before we see prices move from these levels.

MARKET ACTION INDEX (MAI)
The Market Action Index answers the question “How’s the Market?” by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies Seller’s Market conditions. Below 30, conditions favor the buyer.

Del Mar Home Sales are Exceeding New Inventory

03/24/2016 by admin Leave a Comment

THIS WEEK
The median list price in DEL MAR, CA 92014 this week is $2,410,000.

Inventory is up and Market Action is trending down recently. While days-on-market appears to be trending lower, the overall conditions are weakening a bit.

SUPPLY AND DEMAND
Home sales have begun exceeding new inventory. This is a Buyer’s market so prices are not yet moving higher as excess inventory is consumed. If the tightening continues and the market moves into the Seller’s zone, we may see upward pressure on pricing.

PRICE
In the last few weeks we’ve seen prices in this zip code bouncing around this plateau. Look for a persistent down-shift in the Market Action Index before we see prices deviate from these levels.

Rancho Santa Fe Inventory is Growing

03/14/2016 by admin Leave a Comment

THIS WEEK
The median list price in Rancho Santa Fe, CA 92067 this week is $2,990,000.

Inventory is up and Market Action is trending down recently. While days-on-market appears to be trending lower, the overall conditions are weakening a bit.

Carmel Valley Inventory is Tightening

02/02/2016 by admin Leave a Comment

THIS WEEK

This week the medium list price for San Diego, Carmel Valley 92130 is $1,299,000.

Inventory is tightening and days- on-market is falling. The Market Action Index (MAI) shows demand heating up. These are relatively bullish signs for the Carmel Valley real estate market.

SUPPLY AND DEMAND

In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in a Seller’s zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.

PRICE

Carmel Valley home prices seem to have settled around a plateau. Look for a persistent down-shift in the MAI before we see prices deviate from these levels.

MAI (Market Action Index)

The Market Action Index answers the question “how’s the market?” by measuring the current rate of sale versus the amount of Carmel Valley homes for sale. Index above 30 implies seller market conditions. Below 30, conditions favor the buyer.

For additional information please call Chris & Kyle at (858) 213-9999. Thank you!

Home Inspections Prior to Making an Offer

10/21/2015 by admin Leave a Comment

It would be a prudent business practice for sellers to provide buyers with a home inspection prior to making an offer:

Sellers and listing agents don’t want to mess around with repair requests, and it says right in the contract that the house is sold ‘as-is’. Yet the common practice today is for the buyers to conduct their own home inspection AFTER they have an accepted offer, which means the unknown facts about the house are rarely priced into the deal – and, as a result, buyers want some giveback. They might endure some inequity in a frenzy, but as the market balances out, the tendency will be to cancel the deal if they aren’t happy.

But here’s another reason for providing a home inspection – to avoid having the buyers hiring an inspector who could put your deal in jeopardy. You can’t stop them from doing their own second inspection, but at least you’ll have another opinion available if they hire one of these.

The three inspectors everyone wants to avoid:

The bumbling, incompetent inspector who raises more concern.

The CYA inspector, who creates more alarm by insisting that a licensed contractor needs to be consulted for an adequate opinion of the stupid stuff.

The inspector who tells you in person that it’s a great house, and then sends a report loaded with surprises.

The seller-provided inspection is a counter-balance for all three categories!

If you’re thinking of buying a home act quickly before rates rise!

07/27/2015 by admin Leave a Comment

A strengthening economy and gathering momentum in the property market are bolstering arguments for higher interest rates in the second half of the year as Federal Reserve policymakers prepare to meet this week.

The Federal Open Market Committee will convene on Tuesday and Wednesday after Janet Yellen, the Fed chairwoman, told Congress that the US economy needs higher short-term rates and that there were risks in waiting too long.

While the newly resurgent dollar again poses risks to US exports and inflation, other international dangers have lessened — most notably from Greece, which is discussing a new bailout.

No move is likely this week, but the Fed has made it clear it expects to lift interest rates in 2015, marking the first upward move in nearly a decade.

An interest rate hike will impact everyone who has a home mortgage, car loan, savings account or money in the stock market.

In short, life is about to get better for savers and a little harder for borrowers. Investors could also face tougher times.

Mortgage rates will rise: As the Fed signals its intention to raise rates, borrowers are rushing to get deals done now. There’s been a big rush of mortgage applications in 2015, driven by people refinancing to lock in lower interest rates.

People thinking of buying a house should act quickly to lock in today’s low rates.

An average, 30-year mortgage fetches just under a 4% interest rate now, according to Freddie Mac. That’s down from a year ago when rates were closer to 4.3%. The Fed cut rates to historic lows in 2008 in part to reboot the housing market, which collapsed when the housing bubble popped.

When the Fed likely raises rates this year, it will push mortgage rates up!