Realtors Caravan Today

This was a good Realtors Caravan, any way you look at it. Nice houses, mostly good prices, great selection. There was not a “dog” in the bunch.

Some homes were not my style, but they will be someone’s style, and all were ready for sale…well cleaned and immediately presentable. That is not always the case.

The $1,395,000 home on High Mountain was spectacular. The seller is a well-known local Interior Decorator (she did our home), and the home LOOKS like a professional decorator’s home. The separate guest house is a real plus, but I really think the location at the corner of High Mountain and High Vista is a major selling point.

The home on Meadows Glen Way East at $650,000 is beautiful, and the one on Meadow Glen Way East at $495,000 is an even better deal because it is right on the fairway of the golf course. Both MGWE homes are turn-key operations.

The home on Glenmeade needs updating, but the home is beautiful and certainly livable during the updating. This home has terrific curb appeal.

The Sage Hill listing is nice, but the floor plan does not flow for me. It does have a pool, which is either a plus or a minus depending upon your point of view.

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MLS Update, July 15

There is a Realtors Caravan tomorrow, and that is good!

There were 14 new listings in the Zip Code in the past 48 hours, one in the Meadows at $495,000, and that is a nice house. It will be on the Caravan in the morning.

There was no other activity in the Meadows.

Feeding the Firefighters

For the uninitiated, Meadows volunteers bring food or deserts weekly to the Meadows Firefighters as a treat. Some of us “adopt” several local fire stations. I sent this out yesterday:

It might help those Meadowites who prefer to pick up desert for the Firefighters to learn that the Manager of CoCo’s on W. Valley Parkway suggested that Jean and I buy the pie  that is on special in any given week.

As it happened, we had promised both fire stations a lemon and an apple pie, so we stuck with that.

Right now chocolate is on sale, but the pies on sale rotate. Those on sale are under $7.00, but the regular prices are something above $11.00.

If you are buying several pies, for several stations, you could save some serious money.

Anyone can call the CoCo’s manager, David Larson (745-2513) to find out which pies are on sale on any given week.

MLS Update

Nine new listings in the Zip Code over the weekend, and one was in the Meadows. The new home on the list for the Meadows was at 10941 Meadow Glen Way East, a 2,444 s.f, home listed for $650,000.

Four homes went into Pending in the Zip code, but none were in the Meadows.

One home closed escrow in the Zip Code and that was in the Meadows on Glenmeade, a 3/3 of 1,913 s.f. and it closed for $399,000.

Analysis

Sales increased in North San Diego County  in June from the month before in Single Family Dwellings, and attached units.

Sales prices also increased in that same period.

(Those good comments are not so for homes outside North County.)

The problems appear to still be with Lenders. Yes, the Stimulus was supposed to free up that money, but the Lenders seem to feel that it is better to bloat their own bottom line, first.

Buyers with cash, or well-arranged previous monetary arrangements with Lenders are in the best shape in this market. Obviously, this is where investors have an advantage – they have part of their portfolio in liquid assets. Private Buyers must make their arrangements well in advance and make certain those arrangements are bullet-proof before they jump in the market.

Cash, or something near that standard, is king.

Hidden Parts of The Housing Inventory

There are several problems with trying to analyze the real estate market.

If you look at the inventory you will see that it is at historic lows throughout San Diego. Our Hidden Meadows inventory is just about “normal” for a “normal” year – admitting that there is no such thing but I am drawing on my 15 years Meadows experience.

There are offsetting problems. Some of the homes listed as “Active” should be listed as “Contingent” – a new category that tells us that there are active offers awaiting the LENGTHY bank review. That would mean there are actually fewer homes available than are shown as active.

But, there is also the “shadow inventory” – homes that have been withdrawn from the MLS but are actually for sale.

In each neighborhood, there are different ratios. Since Hidden Meadows does not have a lot of short-sales, our shadow inventory is the higher number. Neighborhoods with lower average sales prices have different characteristics.

But the inventory numbers themselves show a REALLY low inventory. Everywhere.

MLS Update July 8

First, my apologies for not keeping the MLS Blog up to date. I have injured my back and am having a bit of trouble with sitting at a computer for a few days.

There were 15 new listings in the Zip Code over the past 5 days, two of which were in the Meadows. A new home came at 28026  Glenmeade, a 3/3, 2,809 s.f.  and a home at 11145 Meadow Glen Way East on 1.3 acres (2,388 s.f.) for $375.000 (as is).

There were 16 homes that went into Pending, including a home on Mountain Meadow listed at $1,975,000 and a home on Little Canyon at $799,000.

Six homes closed escrow in the Zip Code, but none were in the Meadows.

We will not have a Realtors Caravan this week. There are a sufficient number of homes to view, but both the Realtors and the homeowners are asking for respite from the long holiday period.