Buy Foreclosure and Short Sale Homes

Median Asking Prices: Rancho Santa Fe has shown the largest downward trend in median asking price, while the other markets have shown to be a bit more stable. Upon analyzing the recent sales in Rancho Santa Fe it has become apparent many low-priced bank owned or distressed sales have created softness in this upper-tier market.



For Sellers: The coming months are going to be the best opportunity to sell with low interest rates and the seasonally active marketplace.  Unfortunately, there are many more luxury homes for sale than qualified buyers, which will leave much inventory unsold or stagnant. In looking at pending homes sold in Rancho Santa Fe, Del Mar, Coronado, and La Jolla, most have been priced very aggressively or have had a substantial price reduction prior to the pending date due to softness in the luxury market. Selling an estate in this current market takes aggressive pricing, superior marketing, and a value substantive presentation. This is what buyers are looking for and they are definitely out there to be had. First and foremost, inventory is on the climb throughout San Diego. All markets have shown an uptrend in inventory with data going back to 2007.

For Those Looking To Sell: June, July, and August will be the best opportunity for Sellers as the market cools towards the end of the year and interest rates are likely to increase.  It's going to be a long crawl back to a more normalized market and REO (Bank Owned) sales will continue to be the benchmark for market value.

The Good News: The average days on the market is actually trending downward, showing a surge in demand, however the average amount of days on the market remains slightly above 200 days, a trend indicating active buyers are being selective and cautious.

The market active index is still very much a "Buyer's Market", all registering below a scale of 15.



 

The Indicators: A good snapshot is how many listing prices are being reduced.  This would signify a weakness in the market with Sellers pricing downward in hopes of a quicker sales. There has been a downward trend in listing price reductions however.

While there has been a surge in recent luxury home sales, we have noticed some trends that have become apparent in today's market, effecting both pricing and sales. Rather than provide puffery, let's look at some concrete data from the current marketplace provided by Altos Research LLC. Surprisingly, the results have been better than expected; however we need to keep a close eye in the coming months for a more grounded and substantive sample.

Anderson+Boatcher, a strategic partnership under Willis Allen Real Estate, specializes in the Coastal San Diego luxury real estate market. To stay up to date on the Coastal San Diego luxury real estate market and to view the most comprehensive source of real estate opportunities, visit www.anderson-boatcher.com





 

Snapshot Of Coastal San Diego's Luxury Real Estate Markets | Rancho Santa Fe, Del Mar, Coronado, and La Jolla.

World's First Real Estate 'Artist' Believes Sharing One's Blessings with Those Less Fortunate Is a Must to Succeed (PR Newswire via Yahoo! Finance)
MANALAPAN BEACH, Fla., Dec. 8 /PRNewswire/ -- Creator of the world's largest and most opulent "green" home, NY Times best-selling author, and dubbed "real estate rock czar" by the Wall Street Journal are a few of the "hats" worn by Frank McKinney . With a style that is definitely all his own, Frank constantly creates architectural masterpieces out of his incredible oceanfront tree-house office ...

3 ways to outsmart the market (CNN Money)
As you try to figure out how to put your money to work in a market that veers from depression to mania, you're confronted with two opposing facts that lead to opposing investing strategies.

Cost of real estate goes beyond price (The Record and Herald News)
"Ask the Realtor" is a weekly column where readers can submit their real estate questions to be answered by a professional from RealSource Association of Realtors. E-mail realestatepr@northjersey.com and key "Ask the Realtor" in the subject line.

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