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REAL ESTATE NEWS: FEBRUARY 17, 2016
Home prices took their usual dip in January but San Diego County's median is still nearly 7 percent higher than it was last year at this time, real estate firm CoreLogic reported Tuesday. The median home price hit $462,750 last month, CoreLogic said. From December to January, county home prices dropped 2.6 percent. Sales were down in all categories. There were 2,216 resale home sales in December and just 1,480 in January. Condo sales were down 35 percent and newly built homes were down 49 percent. December and January sales always slow down because sellers take homes off the market for the holidays. In January 2015, sales dipped 1.6 percent from December. In January 2014, sales dropped 3.7 percent from the previous month. Guy Johnston, a real estate agent in North County, said he is used to the slowdown around January but this year seemed different.
"It's probably more active than in the past. A little bit more aggressiveness," he said.
This is also the first month that sales occurred after mortgage interest rates went up after the Federal Reserve raised a key interest rate. However, the uptick in mortgage rates has not seemed to matter much for sales.
Andrew LePage, CoreLogic research analyst, said mortgage rates are still very low and it is possible buyers could be motivated to buy to lock in a better interest rate before a perceived bump in rates.
The average mortgage rate in the county for a 30-year fixed rate mortgage was 3.74 percent on Tuesday, said HSH.com. It was down from December at 4.03 percent and 4.08 percent in January. Cash sales were up in January, making up 20.2 percent of purchases. However, cash sales are down 7.5 percent in the last 12 months. "A lot of the investors who buy distressed properties use cash," LePage said. "You can see how short sales and (real estate-owned) sales are down." The most expensive real-estate space for sale in the county in January was Coronado at $854 per square foot. It was followed by La Jolla at $798 per square foot, Pacific Beach at $784 and Ocean Beach at $643. In the past 12 months, San Bernardino County median sale prices rose the most in the Southern California market at 11.8 percent to $265,000, CoreLogic said. It was followed by Orange County at 10.2 percent, Ventura at 8.5 percent, Riverside at 8.4 percent, San Diego at 6.9 percent and Los Angeles at 6.5 percent.
Brokerages we co-op with (all licensed brokerages, including): Century 21 Coldwell Banker Berkshire Hathaway Prudential California Real Estate / Berkshire Hathaway Keller Williams ReMax, Re/Max, Re Max Mat Battiata Real Estate Real Living Susie Nancarrow Realty Group (NRG), Suzie Nancarrow Real Estate Group The Lund Team
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At right is the other/competing listing (3536 Avenida Pantera listed by Nancarrow Realty Group; Selling agency was Coastal Homes of San Diego). This was the same model home as our listing, yet with updates and newer black bottom pool/spa (MLS#140005669).
Closing price: $1,450,000
Our sellers obtained $35,000 more than this same model nearby, and both closed escrow within days of each other. Plus, the seller paid $72,500 in commissions, yet the listing broker was not the person who brought the buyer.
RECENT EXAMPLE OF HOW WE HELPED A SELLER IN THE RANCH OF LA COSTA / CARLSBAD OBTAIN $35,000 MORE THAN THE EXACT SAME MODEL SOLD BY ANOTHER REAL ESTATE FIRM WITHIN DAYS OF OUR SALE
OUR LISTING (MLS# 140009708): Buyer's initial proposed offer on our listing: $1,450,000 Our negotiated 1st step up: $1,475,000 Our 2nd negotiated step up: $1,485,000 That is $86,000 more than the bottom asking number on the MLS. Plus, the seller saved thousands
in commission with our brokerage.
Our family started this brokerage in order to help our friends and extended family from paying 5% to 6% commission on their real estate transactions in North County San Diego. The idea of paying $60,000 to $85,000 to a real estate agent, who typically is an independent contractor for an out of state franchise brokerage, to "sell" one of our family's or friend's homes seemed outrageous to us—especially since over 98% of buyers do not come from the listing agent.
What differentiates us, other than lower commissions, is our marketing. In addition to the MLS, we have a suite of websites to place your home on. In fact, we own www.LaCostaTownSquare.com, www.LaCostaMLS.com, www.LaCostaOaks.com & .org, and many others. Also, with us, you are dealing with a licensed Broker, not an agent, most of whom have no authority to charge less than 5%...and far less ability to negotiate purchases or sales due to this fact.
Email today for a free analysis of your home's value, and find out how many thousands you will save. Or, if you are buying, let us know what you are looking for, and which city/town, and we will share the seller-paid commission with you!
Todd Easterling, Owner
Search the MLS for homes in Carlsbad, all of La Costa, or just La Costa Oaks. Or, email and we'll send you listings for ANY area in San Diego, County.
List your home in San Diego County on the MLS and get exposure to tens of thousands of agents & real estate sites.
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La Costa / La Costa Oaks / Carlsbad / Encinitas / Oceanside / Vista / San Marcos
Serving all of San Diego County Home Sellers & Buyers save thousands
Chris Heller the home seller
La Costa Oaks Real Estate
May 2016 Listing Special!!
(1.5% TOTAL fee if buyer uses us to buy your home. If other agent involved, then 1.5% to us; 2.5% to buyer's agent)
Media, publishing industry, & readers: Looking for the website for novelist Todd Easterling? Please visit www.ToddEasterling.com
Here's the truth about the real estate business, which few other brokerages will tell you...
So why are we telling you all this?
As mentioned, we started this brokerage to save our family and friends money on their home purchases and sales. We offer great service, and at a savings. We don't need to pressure anyone to sell or buy. Common sense and a review of cost savings is enough to convince most people of our value. We are absolutely committed to the satisfaction of our home buyers and sellers.
If you are interesting in buying or selling, we are happy to help and we will do our best to exceed your expectations...while saving your family money, as we have done for our family and friends.
the Lund team
If you are buying, we will give you
$5,000 of the seller-paid commission as
a credit in escrow!!!
the Jonville team
The Easterling Real Estate Group
Transaction, Escrow, Loans Team