What Happened in the Cardiff Real Estate Market in January 2012?

As a buyer or seller in the Cardiff real estate market, having information about the current market conditions will enable you to make an informed decision regarding what to do with regard to buying a home in Cardiff, or selling your Cardiff home. 

The Cardiff real estate market is small and very localized, and knowing what is going on with regard to inventory and sales is important for making an informed buying or selling decision. Finding comparables for determining price for either a listing or a purchase can sometimes be tricky because of the limited inventory and the diversity of homes for sale. 

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 Cardiff by the Sea – Quintessential Beach Community 

A Visual Tour of Cardiff-by-the-Sea

Like to Walk? Live in the Walking District in Cardiff CA

Want to Live in a Musical Community? Try the Composer District in Cardiff, CA

Here is a summary of the Cardiff real estate market for January 2011 based on information provided by the MLS (private sales are not included). These data are deemed reliable but are not guaranteed. 

The number of homes sold in Cardiff in January dropped dramatically. Average sales prices also declined fairly significantly. But given the very small number of homes sold, it is unwise to draw any conclusions about trends, especially given pricing.

At the end of January 2011 there were 6 homes in the Cardiff real estate market with a Contingent status, 1 more than last month (i.e., short sale and REO homes that had offers being reviewed by the lenders). Until approved these homes are considered active and are included in the Active statistics below. 

As of January 2011 there were 41 Cardiff homes for sale, 5% fewer than last month and the 5^th month of inventory decline, thus making the inventory even more competitive in the Cardiff real estate market. This represents an inventory of only 4.5 months for attached homes (up from 4.1 months last month) and 3.4 months for detached homes (up from 3.2 months in December). One might now consider this a seller’s market for detached homes. 

19 Cardiff homes came on the market in January, more than twice as many new listings as in December. 11 homes went pending in January as compared to 7 in December (up 57%), good news for Cardiff home sellers.

READ MORE: How Important is Inventory when Buying or Selling? Very!! 

Data are based on information provided by the MLS for homes that went under contract in the last couple of months. If you would like more details about the Cardiff real estate market with regard to current activity as well as the specific areas such as the Walking District and the Composer District, please let me know. 

SEARCH FOR HOMES FOR SALE IN CARDIFF BY THE SEA CALIFORNIA

READ MORE:

Cardiff Homes for Sale – What Happened in the Cardiff Real Estate Market in December 2011?

Cardiff Homes for Sale – What Happened in the Cardiff Real Estate Market in November 2011?

Cardiff Homes for Sale | Cardiff Real Estate Market Report for October 2011

Cardiff Homes for Sale | Cardiff Real Estate Market Report for September 2011

Cardiff Homes for Sale | Cardiff Real Estate Market Report for August 2011

Cardiff Homes for Sale | Cardiff Real Estate Market Report for July 2011

Carlsbad Arts – A Winter Visit to the Carlsbad Sculpture Garden 2012

The Carlsbad Sculpture Garden is a wonderful place to visit at any time of the year. I took a brief walk through the other day when dropping off some books at the library.

The Sculpture Garden features a changing collection of large scale sculpture by local and regional artists in an intimate setting next to the Carlsbad's Cole Library near Carlsbad Village.

The Carlsbad Sculpture Garden is a program funded by the Carlsbad Cultural Arts Office. 

An exhibit at the Carlsbad Sculpture Garden may feature one artist, as it does in the current show, or may showcase the works of several local artists. The garden is open during business hours (Monday through Friday from 9 until 5 pm) and is free to the public. 

The Carlsbad Sculpture Garden is located at 2955 Elmwood Avenue, Carlsbad, CA 92008.

Enjoy your winter stroll!!

Oceanview Homes for Sale at Haciendas de la Playa in Encinitas – Encinitas Haciendas de la Playa Oceanview Homes for Sale

Buyers seeking an oceanview home in Encinitas often need to pay a pretty penny. Add to that the convenience of walking to the train, and the downtown Encinitas shopping and dining area and you can end up with a tough search indeed, with little to choose from for under $1 million.

Haciendas de la Playa, a 1980s Mediterranean-style townhome community of 99 homes just east of downtown Encinitas offers both – walk to dining, shopping, Moonligh Beach and the train AND fabulous ocean views from some of the homes, depending on location, clustered on the hill.

Encinitas Dining and Shopping Extravaganza in Downtown Encinitas CA

Homes at Haciendas de la Playa in Encinitas are 1 and 2 bedroom units (1 and 2-story floor plans), from 750 SF to over 1700 SF. Some units have reverse floor plans to take advantage of the views, and access from the parking areas. 

Ocean view homes at Haciendas de la Playa do not come up for sale very often; currently there is only 1 oceanview home for sale at Haciendas de la Playa, priced at $649K, and only 4 sold in all of 2011 at an average price of $676K.

There is a beautiful pool and spa for residents and ample parking, as well as garage parking for individual units.

The homes at Haciendas de la Playa can make excellent primary or vacation homes , and with the location would likely be a good investment property if the financials work.

Search for Encinitas Homes for Sale

Search for Waterfront Homes for Sale in Encinitas

Search for Townhomes for Sale in Encinitas

Carlsbad Homes for Sale - What Happened in the Carlsbad Real Estate Market in January 2012?

The Carlsbad real estate market continues to shift, and the statistics for January show a number of changes from last month. These data do not include private sales or manufactured/mobile/multi-family housing; the numbers are derived from the MLS and are believed to be accurate but are not guaranteed.

READ MORE ABOUT CARLSBAD: 

 Carlsbad Village by the Sea 

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Media reports speak in general terms, so information may not represent the reality of our local Carlsbad real estate market. Having data, and knowledge, about the local market conditions benefits you as a buyer or seller so you can make informed purchase and sale decisions. 

In January 2012 there were 102 Carlsbad homes sold (92008, 92009, 92010 and 92011), the same as in December. Here's the breakdown of overall activity. 

The number of Carlsbad home sales remained the same, but with fewer detached homes sold in January than in December, but the opposite for attached. Overall average sale prices declined modestly. There is still some negotiation going on and buyers, on average, are getting their homes for 4 - 8% off the asking price.

There were 118 properties (20% of the total) in Carlsbad at the end of January with the CONTINGENT status, 6 more than last month (i.e., homes with offers being reviewed for approval by short sale and REO lenders).

There were 597 Carlsbad Homes for sale at the end of January, the 7^th decline in inventor, by 4%, and the lowest inventory in over a year! This represents an inventory of 5.8 months for attached homes (down from 6.3 months last month) and 4.8 months for detached (up from 4.5 last month) based on the current rate of sales over the last 6 months. The real estate market in Carlsbad continues to be competitive and is getting more so.

READ MORE: How Important is Inventory when Buying or Selling? Very!!

In January the number of new homes coming on the market increased, with 141 new listings (up 54%) hitting the market.  This is likely due to the fact we are past the holidays and heading into the spring market. The number of homes going pending rose significantly, up 22% to 118, from December pendings.  People were buying in January, and late December!

This overview of the Carlsbad real estate market is based on information provided by the MLS. More details can be provided with regard to current activity as well as within the specific zip codes of Carlsbad.

Watch for my 2011 overview of the Carlsbad real estate market!

SEARCH FOR CARLSBAD HOMES FOR SALE

SEARCH FOR HOMES WITH VIEWS IN CARLSBAD

SEARCH FOR WATERFRONT HOMES FOR SALE IN CARLSBAD

READ MORE:

Carlsbad Homes for Sale – What Happened in the Carlsbad Real Estate Market in December 2011?

Carlsbad Homes for Sale – What Happened in the Carlsbad Real Estate Market in November 2011?

Carlsbad Homes for Sale | Carlsbad Real Estate Market Report for October 2011

Carlsbad Homes for Sale | Carlsbad Real Estate Market Report for September 2011

Carlsbad Homes for Sale: Carlsbad Real Estate Market Report for August 2011

Carlsbad Homes for Sale: Carlsbad Real Estate Market Report for July 2011

San Marcos Homes for Sale -

What Happened in the San Marcos Real Estate Market in January 2012?

The San Marcos real estate market continues to evolve, especially with the large number of distress sales. These data do not include any private sales nor manufactured housing; the numbers are derived from the MLS and are believed to be accurate but are not guaranteed.

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 San Marcos - A Thriving Inland Residential Community

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Lake San Marcos – Resort and Residential Community in San Marcos, CA

Media reports tend to speak in general terms, rather than local, so their information will not likely represent the reality of our local San Marcos real estate market. Having information about local market conditions benefits you as the buyer or seller when making decisions about buying and selling.

In January 2012 there were 75 homes sold in San Marcos’ 2 zip codes (92069 and 92078), down 35% from December. Here’s the breakdown of overall activity.

Sales volume decreased significantly for detached single family homes in San Marcos, but rose modestly for attached properties. Average sales prices shifted up modestly for detached homes but declined for attached. Buyers are not negotiating much on their purchases, getting only 1-2% off the asking price on average.

There were 143 San Marcos homes for sale at the end of January with a Contingent status, i.e., homes with offers awaiting approval from the short sale and REO lenders. These homes are included in the overall Active stats since they are still considered active until the approvals are obtained.

The San Marcos real estate market tightened further in January - at the end of January 2012 the San Marcos real estate market had 357 homes for sale (40% are contingent), 3% fewer than at the end of December, another decline although modest.

This represents an inventory of 3.5 months for attached homes (down from 3.7 months) and 4 months for detached (up from 3.9 months) based on the current rate of sales over the last 6 months. The San Marcos real estate market remains highly competitive for buyers and is trending more toward a seller’s market overall, with the lowest absorption rates for the North San Diego County coastal communities!

And good news for sellers is that homes are not taking long to sell, on average about 3 months.

READ MORE:   How Important is Inventory when Buying or Selling? Very!!

In January 2012 we saw 111 homes come on the market, 13% more than last month. The number of homes going pending in January (83) increased by 26% from last month’s pendings.

This overview of the San Marcos real estate market is based on information provided by the MLS for homes that went under contract in the last couple of months and closed in January. More details can be provided if needed with regard to current activity as well as within the specific zip codes of San Marcos (92078 and 92069).

Search for San Marcos Homes for Sale

Search for Lake San Marcos Homes for Sale

READ MORE:

San Marcos Homes for Sale – What Happened in the San Marcos Real Estate Market in December 2011?

San Marcos Homes for Sale – What Happened in the San Marcos Real Estate Market in November 2011?

San Marcos Homes for Sale | San Marcos Real Estate Market Report for October 2011

San Marcos Homes for Sale | San Marcos Real Estate Market Report for September 2011

San Marcos Homes for Sale | San Marcos Real Estate Market Report for August 2011

San Marcos Homes for Sale | San Marcos Real Estate Market Report for July 2011

What Happened in the Solana Beach Real Estate Market in January 2012?

Solana Beach is an affluent coastal town south of Encinitas and Cardiff, and one of the more expensive coastal communities in the North San Diego County area.

READ MORE: Solana Beach Real Estate

As a buyer or seller in the Solana Beach real estate market, understanding recent trends and current market conditions is essential in order to make informed decisions; media reports focus on general market statistics and therefore will not provide you with an accurate picture of the Solana Beach real estate market conditions.

The following data are taken from the San Diego MLS for Solana Beach real estate (private sales are not included in these statistics, nor are multifamily properties or mobile/manufactured housing). The data are believed to be reliable but are not guaranteed.

In January 2012 there were 15 Solana Beach homes sold, a 25% increase over last month. Here’s the breakdown of overall activity.

Sales volume in the Solana Beach real estate market for January rose for attached homes but remained the same for detached. In contrast average sale prices declined across the board. We are still seeing negotiation in prices, on average from 4 – 5%. Given the small number of sales, one cannot draw any firm conclusions about pricing trends.

At the end of January 2012 there were 94 Solana Beach homes for sale, down 5% from December’s inventory, another decline, making the Solana Beach market more competitive for buyers. 15 of these homes are “contingent” (short sale or REO homes with offers being reviewed by lenders and considered active). This represents an inventory of 9.3 months for attached homes (down from 9.8 months last month) and 5.5 months for detached (down from 6 months in December) based on the current rate of sales over the last 6 months, resulting in a further tightening of the Solana Beach real estate market for buyers.

READ MORE:   How Important is Inventory when Buying or Selling? Very!!

In January 18 homes came into the Solana Beach real estate market, 2 more than last month; 15 homes went pending in January 2012, in contrast to 13 last month.

This overview of the Solana Beach real estate market is based on information provided by the MLS for homes that went under contract in the last couple of months and closed in January. More details can be provided if needed with regard to current activity as well.

SEARCH FOR SOLANA BEACH HOMES FOR SALE

READ MORE:

Solana Beach Homes for Sale – What Happened in the Solana Beach Real Estate Market in December 2011?

Solana Beach Homes for Sale – What Happened in the Solana Beach Real Estate Market in November 2011?

Solana Beach Homes for Sale | Solana Beach Real Estate Market Report for October 2011

Solana Beach Homes for Sale | Solana Beach Real Estate Market Report for September 2011

Solana Beach Homes for Sale | Solana Beach Real Estate Market Report for August 2011

Solana Beach Homes for Sale | Solana Beach Real Estate Market Report for July 2011

Buying a Short Sale in 2012 – A Revisit to 2007

I wrote Buying a Short Sale in late January 2007 to share my thoughts with consumers and encourage participation in an on-line dialog. I was 5 months into blogging.

Little did I know how many comments (well more than 400) this would inspire, and the extent to which consumers would share their stories, good and bad, and ask for advice on short sales. I’ve never had a post with this amount of buyer and seller participation, which is pretty cool.

This post has, for 5 years, continued to attract readers, with over 84,000 clicks to date.

“Buying a Short Sale” has also been popular with some AR and non-AR agents, too, a number of whom decided it was worth copying and using as their own. But that’s another topic.

I’ve thought, for some time, about updating this Buying a Short Sale post, given how the short sale landscape has changed…or has it??

And the challenge from AR to take a popular older post and rework it made this too good an incentive to pass up.

You can read the original “Buying a Short Sale” here…but I dare say the comments are much more compelling and interesting. You decide – I’d be curious what you think.

Short Sales

As a buyer watching the real estate market, you are undoubtedly aware there are many "short sale" properties on the market, in just about all areas and in all price ranges. Buyers often believe that these are the best deals, along with foreclosures [that hasn’t changed much, although I find more people know what these are about and many are kinda squirrelly about the potential wait].

Note – this is California. Things may differ in your state!

While you shouldn’t be scared off by short sale properties - they may turn out to be a great deal for you - there are a few things to be aware of you decide IF you want to pursue a short sale purchase:

• A short sale MUST be approved by the lender (but there is NO guarantee)
• The lender is looking for market value, too, and you cannot expect a short sale to be a fire sale (i.e., it may NOT be a great deal after all especially if there is a ton of work to be done)
• If there is one than one lender on the property things become more complicate, and potentially time consuming
• Lender will likely have a checklist of requirements and paperwork required for the short sale process
• Lender will likely demand the sale be "as is"
• Short sales take time (don’t be fooled by that name!) – it’s hard to know what time frame to expect. A few lenders these days can approve a short sale in a few weeks, or even less. Others have taken more than 6 months, or never approve them and the property is foreclosed.

If you are making an offer:

• Make sure you make the offer contingent on the short sale being approved by the lender in writing and set a time frame for approval
• A form (there is a new statutory Short Sale Addendum in California) is required to outline the short sale contingency terms and conditions
• Your buyer agent should interview or “qualify” the listing agent to gain a perspective that they know what they are doing, or not. If they don’t this might be a transaction you might want to avoid.
• In 2007 I said “There is a good chance there will be more than 1 offer.”  Hah, I have yet to come across a listing where there was ONLY 1 offer, except 5 minutes after it came on the market, or when it’s a high-end property. It’s not unusual for there to be 5+ offers and I've heard of more than 15
  
• It’s essential to conduct a home inspection even though the lender will probably require an "as is" sale - you still want to know what you are buying and what repairs need to be made so you can decide if you want to take them on

Be sure to discuss issues and questions with your agent before proceeding, preferably someone who has some experience with short sales.

You do NOT want to take on a short sale purchase without buyer representation by a qualified, knowledgeable licensed agent. There is too much at risk. I’ve never even heard of dual agency in a short sale.

The good news is that there is a ton of information here on AR, for agents and consumers alike, from loads of people who are highly experienced in short sales – Broker Bryant and Katerina and Nestor Gasset in Florida, Melissa Zavalla and Elizabeth Weintraub in California, the list goes on and on.

There’s even a Short Sales Superstars Group.

Carlsbad Arts – The Cannon Art Gallery 2012 Invitational Art Exhibit in Carlsbad CA

The Cannon Art Gallery continues its reputation for exhibiting outstanding works of art at the newest exhibition, the winter 2012 Invitational show running from January 22 until March 11, 2012.

Carlsbad has garnered quite a reputation as an arts community and the Cannon Gallery, a City-owned gallery, is certainly a vital part of that tradition, with multiple shows and events related to those exhibits (e.g., family open studios, live performances) throughout the year.

The Cannon Art Gallery 2012 Invitational showcases a wide range of work by Robert Ecker, Becky Guttin, Roy Jenuine, Robert Nelson, and Sasha Koozel Reibstein. Artists were selected by gallery director/curator Karen McGuire from the 2011 Juried Biennial exhibition.

While wandering through the Cannon Gallery the other day I was struck by the diversity of these works of art, and the talent displayed in their execution. And Director Karen McGuire, as always, has such a talent for assembling the Gallery’s exhibits in a meaningful, cohesive manner that is pleasing to the eye and the emotions.

The Cannon Art Gallery hours are Tuesday through Saturday 11 – 5; Sunday 12 – 5; Closed on Monday

Cannon Art Gallery

1775 Dove Lane (adjacent to the Carlsbad Public Library)

Carlsbad, CA 92011

(760) 602-2021

What I Know About SEO is YEO

I still remember when I first heard the acronym, YEO. It was early 2007.

Things were buzzing about SEO, although not to the extent they are today. Now we see daily articles by the dozens about SEO techniques and their importance, receive multiple calls a week with guarantees to get us on the top of page 1 of Google, and get invites to classes and webinars specifically designed to optimize our sites and placement on the SERPs.

SEO is far more complicated than it was 4 or 5 years ago.

Oh, people knew what it was, wrote about it, shared their secrets.

But today we collectively know so much more about how the search engines work, what needs to be done to make the most of key search terms in our writing and on our websites, and how to get “found” on the Internet.

It’s gotten far more competitive, too, as many people have learned the secrets of SEO, and with far more websites than back in 2006 when I first started blogging (I would venture to guess millions) it can be much more difficult to end up where you want to be than 4 or 5 years ago. Indeed, at times it seems the primary emphasis is on optimizing your site, and using strategies designed to do so (remember those keywords?) and not doing those things that get you penalized by the god of search engines.

And perhaps that is really at the crux of this post, and YEO.

Jeff Turner, a friend of mine and many of you, and self-declared geek, coined the term, YEO, meaning “you engaging others” and wrote an outstanding post you simply must read – “It’s Not About SEO it’s About YEO.” Even if you read it before I suspect you have forgotten some of Jeff’s more salient points.

So go ahead and read it…then c’mon back.

I venture to say Jeff’s thoughts are far more poignant and meaningful today, amidst the emphasis on SEO and pervasive “getting on page 1 of Google mentality”, and the changing Internet habits of agents and consumers.

But to ignore the importance of engaging others in today’s Internet world is akin to the proverbial neighborhood fence.

Imagine living next to a neighbor for years, never having any contact because of the 8 foot fence between your yards, not knowing anything about their lives nor they about yours – the ups and downs of daily life, your beliefs and values, the joys and sorrows, and the friendship.

“You engaging others” is far more important than ever before, despite dramatic growth in social media and building on-line relationships.

The heart of why we are here, blogging our hearts out, IS to engage with others who will want to do business with us now or in the future.

Being found on Google is important, in fact essential, to reach today’s Internet consumer.

But if you aren’t engaging with others in ways that are important to them and which enable them to connect with you – on-line in your blogging, phone calls, email, texting, handwritten notes, face-to-face – SEO doesn’t mean a hill of beans.

Isn’t it about the people and your ability to connect,

 and to entice them to connect with you?

There I said it.

Introducing New ActiveRain Member Linda Holloway

I wanted to take a moment to introduce Linda Holloway, a new AR member as of December 2011.

A main reason for talking about her here is that even though Linda is a new member, in contrast to so many who simply join, add a bit to their profile and then disappear, Linda has embraced AR wholeheartedly.

No doubt many of you have already had her commenting on your posts.

I was pretty impressed to see how she is participating, and in particular that she took on the 2012 BIG Jumpstart Blog Challenge that is wrapping up on February 7, 2012 – not an easy undertaking as a new blogger, and not easy even for those who are experienced IMO!

Not only that she became a Rainmaker early on, so she obviously realizes the value of AR for her business and developing relationships. And she already has several featured posts! Congratulations!

Linda is a real estate investment specialist in the Tampa Bay area and she’s done a great job of getting her profile started, unlike many newcomers who don’t seem to realize the value of a strong profile, or take a few minutes to develop it. My guess is she will be doing more with this profile, too!

So stop by to visit if you haven’t already, and help Linda feel welcome. My hunch is we are going to continue to hear a lot from her…and I look forward to it.