Archive for the ‘Carlsbad Real Estate’ Category

Crazy Things Are Happening in Local Real Estate Markets

Friday, August 18th, 2017

The real estate market is going CRAZY…well, at least in my local area. After over a year of increased prices and low inventory, multiple offers and crazy shenanigans so that people can get into homes, there are some strange things going on all of a sudden – since the start of August.

Here is what I am seeing in the San Diego market:

Longer market times – Many homes are taking longer to sell compared to those that sold just within the last few months. Even neighborhoods where homes were literally receiving multiple offers on the first day on market are sitting now. Many eventually reduce and on the average I am seeing some homes take around 60 days just to go into escrow.

No more multiple offers in most cases – You would think that the continued lack of inventory would make multiple offers a common occurrence still, but many homes are sitting on the market and reducing prices before they finally go into contract.

Lots of price reductions – I am seeing this all across the board – from condos to single family homes to 2-4 unit income properties. Sellers continue to hit the market with high prices – at comparative sales value or higher – only to have to reduce after 30 days or so due to lack of offers.

Buyers are making low offers – This is for real folks, so if you are a seller be prepared! It is happening all over. I think buyers are tired of rising prices and competition for homes, and they are starting to feel that if a seller won’t take a lower offer, they won’t buy. This is also true with short sales, even though banks no longer accept crazy low offers like they once did years ago.

Escrows are cancelling – I have seen this first hand with my own listings and I have heard from other agents as well – buyers are cancelling escrows at what seems to be a higher rate than we have seen in a long time.

I have reached out to other agents and escrow officers and it seems I am not the only one who feels the market is in such an interesting place. Many agents feel that August has always been a slow month for real estate sales – the end of summer with last vacations prior to kids returning to school, visitors leaving the city, etc. (here in San Diego we have a LOT of summer visitors!)

But there are some who think that this change is indicative of what is to come. Many buyers who were unable to purchase homes due to lack of inventory and multiple offer situations, have decided to rent and wait until the market drops or until there is more inventory available (which really goes hand in hand with prices dropping or at least stabilizing).

I will reiterate my belief, as stated in many blogs, that I do not think we will have a bubble burst or a housing crisis in the near future, but I do think tides are changing. A buyer’s market is starting to blossom and at some point it will flourish. If inventory picks up it will only fuel the change.

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Real Estate Purchases are Slowing Down

Thursday, August 3rd, 2017

It is usually typical for the real estate market to slow as summer winds down, but many people ask me if I think the market will continue on it’s current path – rising prices and lack of inventory. This subject is discussed on a daily basis in the media by real estate agents, economists and buyers and sellers. I read a lot of it – from those claiming that the market will continue on it’s path, others predicting a bubble, and all sorts or in-between predictions. So how is one to know where the market it really heading?

First of all, no two markets are the same. So while right now in Los Angeles there are still bidding wars going on in some neighborhoods, here in San Diego it really varies as to price, neighborhood and type of property. Investors are still out there trying to pick up good deals, especially in the attached market under $600,000 and with 2-4 unit properties. Many 2-4 unit properties that were sitting for a long time are suddenly entertaining multiple offers.

Attached homes – Townhomes and condos are still “hot” here in San Diego County, especially those in nice areas close to highways, beaches and shopping/dining/transportation. Those priced under $600,000 still seem to be going fast. For example, in Carlsbad (North Coastal San Diego), in the month of July the average market time for sold condos and townhomes was 32 days, with  39 of these properties in escrow now. There are currently 48 active condos/townhomes listed on the market in Carlsbad that are priced under $600,000. 9 condos/townhomes sold in July with an average market time of 32 days. The average sold price was $428,533.

Detached Homes – There are currently 78 detached homes for sale in Carlsbad that are priced under $1 million. 57 homes went pending in July with an average market time of 22 days and an average list price of $842,000. Only 5 homes under $1 million sold in Carlsbad in July, with an average market time of 16 days and an average sales price of $802,000. Of the active listings, average market time so far is 37 days, with 19 of those properties having been on the market less than 10 days. Of course, this “detached homes” field includes all 4 zip codes in Carlsbad and multiple types of detached homes – varying with location, age and upgrades/amenities.

Homes located in certain neighborhoods seem to sell much faster. For example, the Mar Brisa neighborhood of Southwest Carlsbad (with the exception of one listing that has not sold for over 60 days and has dropped price several times) tends to sell very quickly, oftentimes in days or even before hitting the MLS. So location is a big factor, and many buyers are willing to pay over asking price to get into neighborhoods with little to no active listings.

As I always say, if you are in the market to purchase or sell residential or 2-4 unit income property, it is important to contact a skilled area agent who can provide you with a complete, detailed analysis of the specific area on which you are focused.

Crystal Ball Predictions – The question I am asked the most is “what will happen in the real estate market in the next year?” I usually chuckle and say that if I had a crystal ball I would be a very rich person! But I do believe that while prices will not shoot down drastically, that we are entering a “correction” period. I think we will see prices stabilize and the market very slowly start to revert to a buyer’s market. That means that prices will not likely rise much more, but of course there may be some highly desirable areas that do still see rises for a short time.

Many buyers are getting frustrated with the high prices and low inventory and are thus deciding to put property searches on hold, opting to rent until the market changes. While interest rates will likely rise that does not seem to be enough of an incentive for buyers to jump in when facing high prices and multiple offer situations. So in my opinion I believe we will see prices drop slightly, maybe more for properties that are not selling. Higher inventory levels would help keep demand filled and prices a bit more stable, so hopefully we will see that happen as we head into the later part of this year and the year to come.

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Carlsbad Housing Inventory Report for June 2017

Wednesday, June 14th, 2017

We are in the middle of the busy home selling season and many people ask me how the market is faring. You will likely not be surprised to know that we are still low on inventory. Here are how the numbers look at this time.

There are currently 313 total active listings in Carlsbad as of today, 184 detached and 103 attached homes (this includes condos, townhomes, rowhomes, twinhomes and condos). There are 29 active mobile or modular homes (included in the detached category). As you can see from the graph above, which showcases the last 3 years of sales, there was more inventory in both categories at the same time last year.

Multiple offer situations continue to be a norm in many areas, especially those properties under one million dollars (and most specifically those under $700,000).  Below is a graph showing total inventory for the last 5 years.

There are currently 170 detached homes and 77 attached properties with pending sales (properties that are currently in escrow). As we continue to head through the top time of year for buying and selling properties, it is clear that supply is not meeting demand. This will continue to drive up prices in many areas. Interest rates just rose slightly today so that will also spur some buyers to get out there and join the search party.

If you have any questions about inventory in a specific part of San Diego please feel free to contact me for a detailed analysis. Otherwise find a competent and professional agent in your desired area before deciding to buy or sell a home.

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Gorgeous New Listing in Carlsbad’s Santa Fe Ridge

Saturday, June 10th, 2017

Upgraded and bright Santa Fe Ridge home located in South Carlsbad with award-winning Encinitas schools. 3 bedrooms, 2.5 bathrooms, 1953 square feet. 

Features include private landscaped courtyard entry, upgraded kitchen and bathrooms, recessed lighting and vaulted ceilings, custom paint throughout, ceiling fans, dual pane windows and sliders, plantation shutters, tile flooring downstairs, new carpet upstairs.

Beautifully landscaped and well maintained spacious, private backyard with inviting patio and grass areas. Furnace and AC installed in 2015, new hot water heater. Located close to everything – shopping, dining, entertainment, schools and highways…and of course, the beach!

For more information and to view more photos please click here.

Open Sunday 6/11 from 1-4 PM.

Call Nicole to schedule a showing at 760-580-7992

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The Best Time To Sell a House Starts May 1!

Tuesday, April 18th, 2017

Sellers get ready! Not only are we about to embark on the busy Spring/Summer selling season in real estate – which actually seems to be well under way – but according to Zillow we are entering the best 2 weeks out of the entire year to sell a home.

Zillow reports that the period between May 1-15 is the BEST time of the year in which to sell a home. The study found that homes which sell during this time sell on average 18.5 days faster and for more money (1% more than the average listing).

It is important to note that some areas may have different results, so I suggest contacting an experienced agent in your neighborhood/surrounding areas to find out when the best time to list your home may be, and how the market is doing.

In Carlsbad CA for example, the market is currently very hot. Many homes are getting multiple offers and inventory is historically low, so desirable homes are selling quickly.  Buyers are waiting for homes to pop up in certain neighborhoods; I get many phone calls from agents asking if I know of any upcoming sales in a neighborhood in which I have sold many houses.

The bottom line is that if you are considering selling your home, now is one of the best times to do so. There is a healthy buyer pool out there so contact an experienced agent and find out what you need to do to be sale-ready.

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New Beach-Close Carlsbad Listing: 824 Okra Court

Friday, October 21st, 2016

This wonderfully upgraded Sea Cliff home is located on a cul de sac with views of the lake and pool area. 2 Master suites plus an optional third bedroom downstairs provide ample living space, and the private backyard patio offers fruit trees and tranquil views. Upgrades include granite counters, stainless appliances, travertine flooring, designer carpeting upstairs, new fixtures, remodeled fireplace and bathrooms, new water heater, epoxy flooring in garage, air conditioning, custom paint throughout, and more. 8_8424857_79462_ea-79462-108

Features include:

  • 1681 SF, 2 bedrooms + optional bedroom, 3 bathrooms
  • Patio views to lake and pool/spa
  • Quiet cul de sac location
  • Upgraded kitchen with granite counters
  • Stainless appliances (refrigerator included with sale)
  • 11_8424867_79462_ea-79462-111Travertine flooring downstairs
  • Designer carpeting on stairs and second floor
  • Dual master suites and a third optional bedroom downstairs
  • New lighting and fixtures throughout
  • Remodeled bathrooms
  • Custom paint throughout, wide baseboards
  • 2 car garage with epoxy flooring and built-in storage
  • New water heater
  • New washer and dryer (included)
  • Air conditioning 16_8424872_79462_ea-79462-116
  • High ceilings
  • Gated community
  • Community pools and spas, tennis courts, clubhouse, lakes, walking paths
  • Less than a mile to the beach
  • Stroll to shopping, dining at Poinsettia Village Center
  • Carlsbad School District
  • Low HOAs, no mello roos

Sea Cliff is one of Carlsbad’s secret havens: a gated community with tree-lined walking paths, lakes and ponds, tennis courts, pools and hot tubs, gazebos, places to sit and enjoy nature, plus a fully equipped clubhouse where there is always something going on. Located only 1 mile from the beach, and moments to shopping, dining and entertainment in sunny Carlsbad, North San Diego.

For more photos, information or to schedule a showing, click here or contact agent Rachel LaMar at 760-310-9466. LaMar Real Estate. BRE# 01993682

1_8424849_79462_ea-79462-101 3_8424850_79462_ea-79462-103 5_8424856_79462_ea-79462-105 gate

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New Listing: Upgraded Seaport Home with Large Yard

Wednesday, August 3rd, 2016

Welcome to 7205 Mimosa Drive in Carlsbad, offered at $839,000.

If you never thought you could fall in love with a home, wait until you see this one. This spectacularly upgraded home is where memories will be made, friends and families will gather, and long lazy days will be spent in the impeccably landscaped pool-sized backyard with ocean breezes and peek views of the stunning Batiquitos Lagoon. Lovingly updated with top of the line materials, gorgeous kitchen and fabulous loft with view balcony. 45_8337111_76698_bpo-76698-145

Enjoy distressed wood plank flooring, custom paint, new windows and doors, incredible chef kitchen with granite counters, custom cabinetry and stainless appliances. Updated bathrooms with extended Italian porcelain shower in the master bath, upgraded fixtures throughout, crown molding in bedrooms, cedar plank master closet, enormous rectangular yard with room for large pool, raised patio, putting green, vegetable garden and lagoon views from deck. RV parking, storage shed and large patio off the kitchen for entertaining. Huge bright and open loft upstairs with ocean and lagoon peek from electronic Sunsetter covered balcony, room off of loft – playroom, office, den, or add closet for another bedroom. Newer roof, garage storage and workbench, ceiling fans, and whole house wiring. Adjacent to Batiquitos Lagoon trails, and short stroll to shopping, dining, grocery store, library, movies and more. Carlsbad schools – blocks to Aviara Oaks Elementary and Aviara Middle School. Great neighborhood with NO HOAs or mello roos. Moment to beaches…come live the Carlsbad lifestyle.

8_8337072_76698_bpo-76698-108Features include:

– 3 bedrooms plus 1 optional, 2 baths, 1653 square feet

– Distressed wide plank wood flooring

– New windows and doors throughout

– Gorgeous kitchen with granite, stainless appliances, custom cabinetry, raised ceiling,

movable island counter, added window and updated fixtures

– Crown molding in bedrooms, plantation shutters

– Lovely master suite with French doors to the yard, cedar plank built-in closet

– Italian porcelain extended shower in master bathroom

– Upgraded fixtures and custom paint throughout 25_8337089_76698_bpo-76698-125

– Pool-sized yard: raised deck with lagoon views, putting green, vegetable garden,

storage shed and large patio off kitchen

– RV parking

– Big, bright, open loft upstairs with ocean peek view balcony, Sunsetter electronic shade

and recently redone deck

– Room off loft – office, playroom, den, or add closet for another bedroom

– Newer roof (8 years old)

19_8337083_76698_bpo-76698-119– Garage laundry area, storage and workbench

– Fans

– No HOA or mello roos

– Adjacent to Batiquitos Lagoon and trails

– Carlsbad schools – Aviara Oaks Elementary and Middle Schools are blocks away

– Stroll to shopping, dining, movies, coffee, grocery store, library and more

– Moments to beaches, transportation and everything Carlsbad has to offer

For more information and photos click here. Call Broker Rachel LaMar with questions or to schedule a showing at 760-310-9466. MLS# 160042727. OPEN SUNDAY, 8/7 1-4:00 PM

 

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New Carlsbad Listing – Upgraded Condo Close to Beach!

Thursday, July 14th, 2016

Welcome to 870 Ginger Avenue, Carlsbad

Offered at $449,000

Fabulous upstairs corner unit condo in coveted southwest Carlsbad, filled with upgrades and natural light, with a large patio to enjoy ocean breezes. Enjoy thick plank bamboo flooring, custom paint, wood blinds, granite kitchen tile counters, beautiful ceramic tile shower and remodeled bathrooms, upgraded fixtures. Move-in ready! See supplement for more. 1_8314290_76011_bpo-_76011-101

Welcome to the coveted neighborhood of Carlsbad Crest. This home is turn key, with upgrades galore. Enjoy outdoor relaxation and ocean breezes from a spacious patio that has just been redone. The beautiful tree-lined complex features 2 community pools/spas, and just a short distance to shopping, dining and the beach. One covered parking space plus large storage closet come with the home, as well as the washer, dryer and refrigerator.

8_8314300_76011_bpo-_76011-108 Features Include:

  • 2 bedrooms, 1.5 baths
  • Bamboo wide plank flooring
  • Granite tile kitchen counters
  • Upgraded kitchen with recessed lighting, refrigerator included
  • Custom paint throughout
  • Wide baseboards
  • Wood blinds
  • Large patio recently redone
  • Remodeled bathrooms with ceramic tiled shower 12_8314307_76011_bpo-_76011-112
  • Laundry closet with washer and dryer included
  • Covered carport space and large storage closet
  • Bright and open floorplan
  • Updated fixtures and lighting
  • Beautiful complex with 2 pools/spas and green areas
  • Less than 1 mile to shopping, dining and beach
  • No mello roos
  • Carlsbad Schools

For more information please click here. For questions or to schedule a showing please call Broker Rachel LaMar at 760-310-9466. CA BRE lic 01399682

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Home Sellers, List Agents Beware: Lockbox and Home Break-ins on Rise

Friday, June 17th, 2016

There seem to be a a slurry of lockbox break-ins and subsequent home break-ins or attempts lately in the San Diego County area, so if you have a home for sale or are a listing agent, please read on so you can be informed and safe. th

Several agents – including myself – have reported lockbox break-ins or attempted break-ins within the last few months. One agent group to which I belong had multiple agents telling stories of lockbox thefts, with subsequent break-ins or attempts. It seems there is a pattern: the thieves come in the middle of the night and use power tools to break the lockbox off doors or pipes. They then take it and return with the key the following day to attempt home robbery.

One agent reported that her seller noticed in the morning as he was leaving for work that that lockbox had been cut. He stayed home and had a locksmith come immediately to change the locks – the thief/thieves returned later that day and attempted to access the home, but luckily were unable to do so – they decided not to use another lockbox.

Another agent said her lockbox had been cut and the thieves returned and stole an oven from the home.

Last month my sellers heard someone tampering with their lockbox between 2-3 AM (Mrs. Seller happened to be up nursing the baby); when Mr. Seller ran to the door and opened it the thief jumped in his waiting car and sped away. We removed the lockbox.

I spoke with the Carlsbad Police Department and they have not had any reports of this from agents or homeowners. I encouraged my clients to report their incident when it happened, but they did not get a description of the man, nor could they tell the make or model of the vehicle or license plate number – it all happened so fast – so they did not report it. The police department recommended not using lockboxes.

After reading the other agent stories a few days ago I removed a lockbox from a listing of mine and made showings by appointment only. Obviously this is an inconvenience for buyer agents, because they and I have to find mutually available times to meet, but it is better that my sellers are protected.

Keep in mind that real estate lockboxes are very well-made and are supposed to be break-in proof, according to the local Realtor association, but with battery operated power tools it is obvious that this is not the case. Never use contractor lockboxes, as these are much more flimsy and easier to break open. Either way, if you are a listing agent or seller you may want to consider this information and decide how to proceed.

If you are an agent please let me know if you have a similar story to share – and please report it to your local police department. This effects our business and our clients…hopefully there will be a way to stop it from happening that will not inconvenience home sellers and agents.

 

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New Exquisite Luxury View Listing in Carlsbad

Thursday, June 9th, 2016

Welcome to 1628 New Crest Court in Carlsbad, Offered at $1,479,000. 6_8268498_74484_EA-74484-104

Pure luxury abounds in this exquisite new construction Carlsbad home, situated on the end of a cul de sac with gorgeous easterly sunrise, canyon and mountain views, and only minutes to the beach. This stunning home has it all, with impeccable attention to detail – hardwood flooring, plantation shutters, stainless top of the line appliances, silk granite and quartz counters, French doors, complete landscaping, and much more, on an 8800+ square foot view lot that is adjacent to open space.

7_8268495_74484_EA-74484-105Features include:

– 5 Bedrooms (one downstairs), 4.5 baths, 4234 square feet

– 8816 square foot private lot

– End of cul-de-sac view lot – canyon and mountain easterly views

– Open floorplan with 9-10 foot high ceilings throughout

– Hardwood flooring downstairs and designer carpeting upstairs

– Enormous kitchen with oversized satin finished granite island

– Quartz kitchen counters and custom full-height tiled backsplash

– Satin white cabinetry with soft close in kitchen

– Stainless Dacor (Bosch-quality) appliances, including 3 ovens and 6-burner stove

– Butler pantry, large walk-in storage pantry and breakfast nook 30_8269020_744841_EA-74484-120

– Spacious family room with fireplace and folding doors to bring the outdoors inside

– Master & powder bath Marble countertops with tile and wood floors

– Cultured marble and tile backsplash in laundry room, and all other baths

– Outdoor covered loggia

– Upgraded fixtures and lighting

– Downstairs bedroom and bathroom with French doors

– Recessed lighting in all rooms

– Instant water heating in Kitchen and Master bathroom

– Rannai tankless water heaters

34_8269022_744841_EA-74484-122– Plantation shutters and vertical blinds

– Heat & Glo Fireplace

– Goodman A/C

– Lift master garage door openers

– Rainbird sprinkler system with auto humidity control

– Master bedroom balcony and Juliet balcony in front

– Mission Drywall Texture

– Front courtyard

– Fully landscaped and hardscaped

– Carlsbad Unified School District

– Close to shopping, dining, parks, beaches and highways

For more information and photos please click here. Or call agent Rachel LaMar for a private showing at 760-310-9466.

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