The Voice of San Diego On-line Newspaper is a Good Source

I am a fan, and contributor to the for a lot of local news, including the housing market in general.

I understand Hidden meadows, and the Rancho Bernardo/North Poway areas but the remainder of the County remains much of a mystery to me.

Hidden Meadows, RB and North Poway are site specific — but they exist in a larger pool of the county, state and nation, and while I am only interested in my areas those areas cannot grow without overall growth.

This is from the VOSD last Saturday: “The median price per square foot of existing homes sold in San Diego bounced a bit last month — by 1.1 percent, to be exact.  But this is a smaller amount than the median had fallen the prior month.  So prices by this measure have continued their late-2009 trend of bouncing along and going nowhere.”

We can’t grow without overal housing growth — and more importantly no one can grow with unemployment in California above 12%.

A New Meadows Restaurant!!!!!!

There is some good news for Hidden Meadows – a new restaurant!

It will be at the Golf Club, will open about April 1 (and no, this is NOT an April fool joke), and feature steaks…something in the order of 10 different steak cuts. There will also be fish dishes and Italian dishes.

I spoke with the new owner today, and he says that he will have me a menu by the end of the week, which I will scan and send out to everyone.

Holding an Open House

To help out our son who took a listing in the Oaks North section of Rancho Bernardo, Jean and I sat an Open House today.

(Oaks North is a 55+ community, and jean and I have sufficient wrinkles to associate with potential Buyers in Oaks North.

It was a revelation – in one two hour period we had an even dozen prospects come through the door. That amount of traffic is three or four times the traffic one could expect in Hidden Meadows, and the prices are not too different.

We were sitting a 1,738 s.f., 2/br 2/ba squeaky clean home for $439,900.

One of the interesting things – for which I was not fully prepared with literature – was the interest in Hidden Meadows, by people who asked where we lived. Three couples said they would drive up and look over Hidden Meadows, and while I had prepared for several such inquiries, I underestimated the interest by one, and had only prepared two packages “just in case.”

Since my only Meadows listings are $1,395,000 and $2,900,000 – and neither want any Open Houses, I am happy to meet some potential clients through an RB listing.

I am particularly interested to see that at least in RB, the market is not dead.

Update Mar. 20

The weather is improving, and with that weather the market would improve – in “normal times.

These are obviously NOT normal times – but the REAL news is that at some point we will run out of both first-time homebuyers and investors while at the same time the banks are facing a flood of new bankruptcy.

That is a description of a roiled market.

Anyone who thinks they can predict THAT is either a lot better than I am or lying.

If you are a Buyer – life is good! If you are a Seller…well, life is not so good.

We have a few new listings in the Meadows:

Price $       Address                            Est SF Beds Baths Story    Yr Blt         #Ac Mkt. Time       $/SqFt

449,000 10923 Rim Rd                      2300          3         3          1          1975                  2                         195

499,000 10088 Boulder Knolls Dr    2087         3         3          2          1979                  5                          239

One home in the Meadows went into Pending – 11033 Meadow Glen Way East. It was listed at $339,000.

One home sold in the Meadows at 9822 Dogwood Lane. It closed at $435,000 – continuing the market as more solid below $500,000.

The new listing (above) on Rim Road is a very nice house, on the golf course. That house, and the house at 11025 Meadow Glen Way East – also on the golf course – at $439,999 are the two choice homes that I have seen in the under $500,000 mark.

March 19 Report

The weather is getting warmer, and so should this blog.

Today, I note a new home listed on Rim Road by my friendly competitor Jim Larsh. It is a nice home, on the golf course and well priced at $449,000. Nice house, nice location, nice price. It should be interesting to see it this next Thursday — we can assume there will be a Realtors Caravan on this next Thursday.

It’s great to see so many people working in their yards as my wife and I walk the Meadows. There is a lot of yard work going on.