Update, Sept. 19

Although I have sufficient strength to do this once a week, I have been unable to maintain my daily political and real estate daily blogs, which are only spasmodic at best.

This past week, there were 29 new listings in Zip Code 92026, of which two were in Hidden Meadows, one of which did not turn up in the list on the obverse for reasons best known to the gnomes who maintain the data base. It is on High Vista, 2,686 s.f.,  3/3 on 1.1 acres for $539,000.

That is an astounding price for ANYTHING on High Vista.

The other one is:

Price 649,000, 10451 PINION TRAIL, s.f.3266, BR4, BA3, Story1, Built2004, Acres0.38, Mkt. Time3, $/s.f.199

In the past week, two Meadows homes went into “Pending” of the 21 in the Zip Code, including one at 9943 Sage Hill and one at 10549 Meadow Glen Way East.

One home closed escrow in Hidden Meadows out of the 17 that closed in the Zip Code – at 10541 Meadow Glen Way East, and it closed at $525,000.

So, the market continues to move along better than one might think, but we still face a HUGE foreclosure rate in 2010 and we do not know the impact that might cause. The BEST we can hope for is that there is a combination cadre of First-Time Home Buyers and Investors who can meet the inventory.

Interest rates cannot continue to remain low, despite Administration wishes, simply because the general economy will eventually recover as it always does, with or without “Stimulus.” Most of the stimulus money has yet to be spent, and by the time it is scheduled it will no longer be necessary.

If you need to sell a home, sell it. If you need to buy a home, buy it. There will be little variation in this market for years – a little up, a little down.

I can’t time the market and neither can you, so do what you must do without angst.

Angst does not help change the market.

On a personal note, I had clients buy a $735,000 home this past week. I am turning more and more of my work over to my son, who has owned Dolphin Realty for more than a decade – long before I joined it. As soon as his children are out of Poway schools, he will move to the Meadows.

I am not retiring, just sharing my future listings and sales, so as to conserve my strength.

My son’s name is Alan, the same as mine but with different spelling so as to have some differentiation. For those who know me, he shares exactly my moral and political views, but he has more experience in real estate than do I, and he has a 20 point higher IQ.

He is a GREAT Realtor, and already has Property Management homes in Hidden Meadows.

Analysis Sept 12

I regret that my lists have not been available, but in the two intervening weeks I had open heart surgery.

I’m back.

In the past two weeks there have been five new listings:

28327 Faircrest Way, $337,330, and 2135 s.f.

9943 Sage Hill, $349,000, and 1778 s.f

28333 Glenmeade Way, $369,000, and 1590 s.f.

9510 Sage Hill Way, $889,000-$969,000, 4,843 s.f.

10382 Vista Montanoso $1,950,000, and 5083 s.f.

Two homes went into Pending:

28027 Sage Hill Way, which went into Pending at $419,000-$469,000

And

28019 Glenmeade Way, which went into Pending at $519,000 –$569,000

And five homes closed escrow:

9635 Meadow Mesa which closed at $400,000

28683 Mountain Meadow Rd. at $483,175

10541 Meadow Glen Way East, at $525,000

9610 Indian Creek at $580,000

27434 Mountain Meadow Rd at $670,000

All in all a productive two week market, with movement at the higher levels.

We are not out of the woods.

2010 will give us more “foreclosures” and we do not know of the Lender response at renegotiating loans, or if there are still investor who will take those off the market. This uncertainty will continue to roil the market for several years, particularly when you consider the unemployment situation which continues to grow.

The market is stable – and that is about the best that can be said of it.

SORRY

I JUST HAD A 5-WAY HEART BYPASS AND WILL JOIN YOU AGAIN AT THE END OF THE WEEK.

APH