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State of The Market: San Diego, CA and Beyond!

By
Real Estate Agent with Big Block Realty 858.232.8722 CA BRE# 01261476

 

The State of The Market in San Diego, CA and Beyond!

I attended Buffini & Company's Do It N.O.W. Brian Buffini LIVE - March 6
These are my notes from that event: 

This is the time when people get nervous, they start to anticipate the market, the mortgage rates, the economy,  the elections, and so on. We're in a unique position this year, given that we have survived and thrived under both candidates already...so the market conditions regardless of the election have some certainties: 

  1. 3 rate cuts are coming this year!
  2. There is major pent up demand for buyers to buy and sellers to sell.
  3. This is going to be a huge Spring and Fall selling season!
  4. 32% of all 2023 sales were 100% cash, rate means nothing to cash buyers
  5. Many sellers are 1031-Exchanging their properties, rate means nothing to them since they are essentially all cash too.

The Market's going to change in 2024. The top 1,000 real estate industry prognosticators predicted rate cuts and here's when they feel they'll begin:

Here's an interesting prediction for 2024. We're going to flip historical trends this year due to rates and to some extent, the election. Buyers may want to wait for more inventory and lower rates, but sellers may want to jump on less competition.

Traditionally:

But Predicted For This Year:


 

Free Health Nuts photo and picture

It's Nuts!!!!

By the way the best way to work is by referral. There are literally 1,000's of agents wasting money buying leads and here's the big joke: they are buying the same "leads". So one poor lead may get 25 calls from 25 different agents. It's the biggest scam in real estate. The bigger scam is they are not even leads; they're inquiries. Why do I mention this? Because non-working by referral agents act transactionally because they're spending more than they make. Do you want a broke or desperate agent or a calm, seasoned and flush agent advising you?

 

All graphics and info I collected from Brian Buffini's Do It N.O.W. Brian Buffini LIVE - event.

 

Posted by


Thomas J. Nelson
REALTOR®, CRS, RCS-D, CDPE, e-Pro, Certified Military Home Specialist, Luxury Home Specialist, Author, Keynote Speaker and  Podcast Host 

Serving Coastal San Diego from Carlsbad to Coronado, Downtown, Balboa Park Area,
La Jolla/UCSD & Mission Bay Park Areas
I Offer Rebates to Veterans
& Active Duty

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Disclaimer:  Nothing in this blog article is to be construed as legal advice, tax advice, medical advice or financial advice.  For legal advice see an attorney.   For tax advice, health or financial advice see a tax attorney, certified public accountant, or other qualified professional.
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

Thanks for sharing. What do you think of these predictions? 

I like the point that we already experienced both candidates~ it does look like those are our only two possibilities. 

Mar 06, 2024 11:43 PM
Thomas J. Nelson, REALTOR ® CRS,ABR,PSA,RCS-D, ePRO

I'm a student not a follower, and I'm not here to sell this, but:
I've been following Brian's Buffini & Company Bold Predictions for 17 years, since he began doing the. He sources his info from major industry leaders and entities. He's typically 85%-100% spot on. I am also witnessing them coming to fruition in my market, so I am confident in them Inna Ivchenko 

Mar 07, 2024 06:56 AM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good morning Thomas,

So do you agree with the predictions? I'm not sure those rate cuts will be anything more than a slight downtick but what do I know. I see the market very active this first quarter of 2024. Inventory increasing but being removed if the house is presented and priced right. 

Mar 07, 2024 04:06 AM
Thomas J. Nelson, REALTOR ® CRS,ABR,PSA,RCS-D, ePRO

I'm a student not a follower, and I'm not here to sell this, but:
I do, because any downward trend is great for the buyers perception to buy and sellers desire to sell. I've been following Brian's
Buffini & Company Bold Predictions for 17 years, since he began doing the. He sources his info from major industry leaders and entities. He's typically 85%-100% spot on. I am also witnessing them coming to fruition in my market, so I am confident in them Dorie Dillard Austin TX 

Mar 07, 2024 06:57 AM
Kat Palmiotti
eXp Commercial, Referral Divison - Kalispell, MT
Helping your Montana dreams take root

The calm and seasoned agents make much better partners!

Mar 07, 2024 05:45 AM
Thomas J. Nelson, REALTOR ® CRS,ABR,PSA,RCS-D, ePRO

I love being connected to Buffini & Company because it connects me to emotional intelligence, resources and a community of agents and industry leaders that keep calm and carry on. We work from facts, not fears.

Mar 07, 2024 06:58 AM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

Home buyers and sellers are sure to value your real estate market perspective, Thomas.

Mar 08, 2024 01:13 PM