Archive for the 'Cardiff' Category
Short Sales in San Diego County - Get the Facts
Posted by Diane White | Currently 1 Comment »
What are short sales? What is happening with the short sale market? Are they selling? Where are they? Here is the Statistics Report for the activity in the last 90 days on all homes, except for manufactured, in San Diego County. Statistics supplied courtesy of Sandicor.
San Diego County Short Sales
To summarize:
- There are currently 6,445 Active Listings. This is a little misleading because most short sales are kept in the active status, even after the seller has accepted an offer, until there is an formal acceptance by the lender(s).
- There are currently 1,778 short sales in the pending status, which means in escrow.
- There have been 4,109 that have closed escrow in the last 90 days.
What are they? Short sales are homes that are for sale and the seller’s loan(s) are more than what the property can sell for. They put it on the market in the hopes that the bank will take less than what they owe. This used to be a process that could take up to 6 months before the lender assigned a negotiator and many went into foreclosure before they ever had a chance to get it approved.
Most banks now have systems in place and as the report shows, they are closing successfully. In fact, most of the time there are multiple offers…you will note that the sales price to listing price is now 97% and average days on the market are down to 99.
Where are they? I did a search for some regions and note the following:
North County Coastal = Carmel Valley, Del Mar, Solana Beach, Encinitas, Carlsbad & Oceanside
- 738 Actives 200 Pending 186 Solds
North County Inland= Scripps Ranch, Rancho Bernardo/Penasquitos, Mira Mesa, Poway & Ramona
- 537 Actives 205 Pending 185 Solds
Metro Areas = Downtown, Hillcrest, North Park, Mission Valley, Clairemont, Tierrasanta & University City
- 1,096 Actives 329 Pending 283 Solds
South Bay = Bonita, Chula Vista & National City
- 1,727 Actives 339 Pending 159 Solds - by far the highest area
If you have stayed away from short sales, you might want to reconsider…many are selling before they become foreclosed on.
Click here to read my previous blog posts and let me know if there is something in particular you would like me to research.
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September Statistics for San Diego Real Estate - Get the Facts
Posted by Diane White | Currently 1 Comment »
Well, San Diego County home sales have not slowed down. September 2008 shows 3,937 Resale Homes are in escrow as of September 30th.
If you take a look at Sandicor’s Statistic Report for last month below, we have currently:
- 11,370 Active Listings in San Diego County
- 3,937 Listings that are Pending (in escrow)
- 1,627 Listings that closed escrow in September
September San Diego County Statistics
Some other very interesting notes:
- DOM (days on market) have decreased from August’s average of 76 days to 65 in September
- SP/LP (sales price to listing price) is now 104% - 4% over asking price.
There are 2 reasons for the SP/LP being over the asking price. One is that bank owned properties are being priced low, which is causing multiple offers and bidding wars. The second reason, in my opinion because I am out there every day, is supply and demand. And it is not just bank owned and short sale properties that are getting multiple offers, I’m seeing it in regular sales as well.
So where did most of the activity take place? Here are statistics from two areas of San Diego County.
- North County Coastal Statistics
San Diego Central Statistics
North County Coastal has 2,029 Active Listings, 555 Pending, and 302 Sold Listings
San Diego Central (from Downtown to UTC) has 1,435 Actives, 605 Pendings and 247 Solds.
Statistics for other areas including:
- Southbay - 1,987 Active, 916 Pending and 259 Sold
- North County Inland - 1,061 Active, 402 Pending and 184 Sold
- East County - 1,371 Active, 589 Pending and 245 Sold
I will be doing further analysis on what is happening with home sales in the county…so please let me know if there are particular areas that you would like me to include.
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Related Posts: Area Information, Area Statistics, Buyers, Cardiff, Carlsbad, Carmel Valley, Del Mar, Downtown, Encinitas, Foreclosures, La Costa, Leucadia, Market Trends, Oceanside, Rancho Bernardo, San Diego, San Marcos, Sellers, Short Sales, Solana Beach
San Diego Home Sales August 2008 - Get the Facts
Posted by Diane White | Currently 1 Comment »
Hello Everyone,
As always, my intent is to keep you informed as to what is really happening in the San Diego County housing market. First is a look at the San Diego County Home Sales Report for sales that were recorded in August 2008, published by Data Quick.
Click on the Sales San Diego County August 2008 image to view the full report
Looking at this briefly you would think the market is very gloomy indeed. However, here are some interesting notes:
- Median Sales Prices for Detached Homes were up over last month in 39% of the zip codes including Hillcrest/Mission Hills, Mission/Pacific Beach, University City, Mira Mesa, Carlsbad 2008, and Solana Beach.
- Detached Home Sales were up for the 2nd month in a row in the communities of Rancho Penasquitos, Rancho Bernardo East, Del Mar and Encinitas.
- Median Sales Prices for Attached Homes were up over last month in 33% of the zip codes including Mission/Pacific Beach, Clairemont, University City, Mira Mesa, Sorrento Valley, and Carlsbad 2009.
- Attached Home Sales were up for the 2nd month in a row in Downtown and Carlsbad 2008.
More notable is the fact that these figures reflect the homes that closed escrow in August without reflecting the actual home sales that went into escrow (Pending). See the Statistics from Sandicor, which include resale home only, below:
San Diego County Detached Statistics 9.23.08
San Diego County has 4,086 single family detached homes currently in escrow as of 9/23/2008! To put that in perspective, note that there are only 11,559 active listings…at the current activity that is 3 months inventory.
San Diego County Attached Statistics 9.23.2008
San Diego County Attached Homes has 2,307 homes in escrow. Putting that in perspective, there are 5,559 listed attached homes…again, less than 3 months inventory.
This totals to close to 6,400 homes that are currently in escrow. Wouldn’t you agree that the market has changed? Just the factor of supply and demand is enough evidence of a turnaround.
I would be glad to provide you more detailed information on areas, cities and neighborhoods for you. Just post a reply, send an email or give me a call and I’ll provide you a customized Just the Facts report.
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August 2008 Real Estate Sales for San Diego - Get the Facts
Posted by Diane White | Currently 5 Comments »
Hello Everyone,
Wow, what a dramatic change a month can make! I knew there was more activity because I am out there showing homes and have been running into multiple offer situations on a regular basis, especially for bank owned properties. But even I was surprised at the number of homes that went into pending last month. (NOTE: The following statistics are from Sandicor.com)
August 2008 San Diego County Activity
Compare August to what happened in July.
July 2008 San Diego County Activity
August 2008 North County Coastal Activity
Compare August to July’s activity.
July 2008 North County Coastal Activity
North County Coastal pending sales more than tripled!
- Metro San Diego pending sales went from: 276 to 647
- North County Inland pending activity: 134 to 316
- South Bay Area pending sales activity: 311 to 675
In checking some specific areas, the actual amount may not sound like much until you figure the percent:
- Carlsbad went from 30 to 122 - 406% increase
- Carmel Valley from 6 to 44 - 733% increase
- Encinitas from 12 to 49 - 408% increase
- UTC/Sorrento area from 13 to42 - 323% increase
- Rancho Bernard/Sabre Springs/Carmel Mtn Ranch 48 to 99 - 206% increase
Some other facts about actual closings (316) for the month of August in San Diego County:
- Average days on the market (DOM) were 76 compared to 61 DOM for the pending properties
- Sales Price to Listing Price (SP/LP) averaged 99%
It will be interesting to see what the SP/LP will be in the next couple of months since there are so many multiple offers and often there are offers over the asking price. If you would like me to research specific areas or zip codes, please let me know. You can email me at Diane@DianeWhiteSanDiego.com or call me at (858)248-2144.
See what John Karevoll of DataQuick said on August 18th
It certainly looks like now is the time to buy…because at this rate, prices will be going up. As always, feel free to pass this information on.
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Related Posts: Area Information, Area Statistics, Buyers, Cardiff, Carlsbad, Carmel Valley, Del Mar, Encinitas, Foreclosures, Market Trends, Rancho Bernardo, San Diego, Solana Beach
