Keep up to date about your homes value

Hi folks,
If you are going to be selling your home in the near future or are just curious about its value in today’s market, give me a call or use the button below. I will email you a comprehensive market analysis of your home. There is no obligation on your part and it is totally free.

My phone number is 760.476.9560.

What is my Home Worth

Not ready to move yet but want to keep an eye on your home value, I have a monthly update that is customized to your home and neighborhood. Click the link below to see what is included in the report and to sign up:

Monthly Update

Home Value Update: August 2023

Higher mortgage rates, along with elevated sales prices and a lack of housing inventory, have continued to impact market activity during the summer homebuying season. The average 30-year fixed-rate mortgage has remained above 6.5% since May, recently hitting a two-decade high in August,
according to Freddie Mac. As a result, existing-home sales have continued to slow nationwide, dropping 2.2% month-over-month as of last measure, with sales down 16.6% compared to the same time last year, according to the National Association of REALTORS® (NAR).

Falling home sales have done little to cool home prices, however, which have continued to sit at record high levels nationally thanks to a limited supply of homes for sale. According to NAR, there were 1.11 million homes for sale heading into August, 14.6% fewer homes than the same period last year, for a
3.3 months’ supply at the current sales pace. The shortage of homes for sale has boosted competition for available properties and is driving sales prices higher, with NAR reporting a national median existing-home price of $406,700, a 1.9% increase from a year earlier.

North County Overview:

  • Closed Sales decreased 12.1 percent for Detached homes and 19.6 percent for Attached homes.
  • Pending Sales decreased 21.7 percent for Detached homes and 16.7 percent for Attached homes.
  • The Median Sales Price was up 14.0 percent to $1,127,150 for Detached homes and 8.6 percent to $730,000 for Attached homes.
  • Days on Market decreased 8.3 percent for Detached homes and 22.7 percent for Attached homes.
  • Supply decreased 29.2 percent for Detached homes and 38.1 percent for Attached homes.

City Overview: Holding fairly steady with regard to Price, Days on Market, number of sold and active listings.

Carlsbad

MonthAvg
Sold $
ChgDOMChgSold HomesChgAct. ListingsChg% List PriceYoY Chg
08/23$1,815,000-2%157%1917%1041%99.6%0.7%
07/23$1,861,000-3%140%17915%1036%100.0%2.2%
06/23$1,920,0001%14-26%156-3%9723%100.3%3.0%
05/23$1,900,0006%19-17%16115%7922%100.0%2.4%
04/23$1,793,0008%23-26%1409%655%98.4%-0.8%
03/23$1,657,0004%310%12835%62-2%96.9%0.8%
02/23$1,594,000-0%3111%95-17%63-19%95.5%5.1%
01/23$1,598,000-2%280%114-10%78-21%95.9%4.1%
12/22$1,623,0002%28-7%127-19%99-14%94.4%4.9%
11/22$1,587,000-2%300%156-4%115-9%94.0%3.1%
10/22$1,614,000-5%3025%162-14%127-16%94.9%5.0%
09/22$1,703,600-5%2441%188-12%151-11%95.8%14.3%
08/22$1,802,279-1%1742%213-4%1691%98.9%22.4%
07/22$1,821,026-2%1220%223-4%16719%102.8%27.6%
06/22$1,863,6240%100%2334%14037%106.7%29.5%
05/22$1,855,9693%10-17%2236%10236%109.4%26.2%
04/22$1,807,47110%12-20%21012%759%109.5%23.3%
03/22$1,643,4658%15-12%187-6%69-5%107.4%16.1%
02/22$1,516,065-1%176%198-14%73-17%104.4%20.7%
01/22$1,535,059-1%160%231-17%88-15%103.0%30.4%

Encinitas

MonthAvg
Sold $
ChgDOMChgSold HomesChgAct. ListingsChg% List PriceYoY Chg
08/23$2,640,0003%21-5%820%487%100.0%-1.1%
07/23$2,560,0001%2216%82-1%450%99.7%-3.4%
06/23$2,523,0001%19-21%832%452%98.7%-2.7%
05/23$2,496,000-4%24-11%8131%4413%98%-3.7%
04/23$2,592,0002%27-18%6219%393%97.1%6.4%
03/23$2,542,00022%33-8%520%38-16%94.9%17.2%
02/23$2,077,0002%3613%520%45-4%92.2%1.2%
01/23$2,028,000-10%32-3%52-15%47-10%93.4%-5.9%
12/22$2,255,000-4%3318%61-5%52-5%92.5%1.3%
11/22$2,343,000-6%28-10%64-7%554%93.4%3.9%
10/22$2,505,000-4%3111%691%53-5%93.2%10.3%
09/22$2,604,000-2%2840%68-3%56-3%94.4%13.3%
08/22$2,668,9441%2054%70-17%584%98.1%25.6%
07/22$2,650,4042%130%84-18%5614%103.1%31.3%
06/22$2,592,6140%13-19%103-9%4920%105.6%31.3%
05/22$2,590,5936%167%11318%4121%106.7%30.1%
04/22$2,435,88712%15-25%9612%34-6%106.9%24.8%
03/22$2,169,5826%20-9%868%36-14%104.7%17.3%
02/22$2,052,570-5%22-19%80-7%42-19%103.1%17.5%
01/22$2,155,319-3%2713%86-7%52-13%101.8%27.7%

Oceanside

MonthAvg
Sold $
ChgDOMChgSold HomesChgActive ListingsChg% List PriceYoY Chg
08/23$971,000-0%140%2597%103-7%101.5%4.9%
07/23$974,000-2%14-22%2433%11110%102.1%-0.6%
06/23$997,0001%18-33%2362%1016%101.1%2.6%
05/23$988,0000%27-18%23212%9517%100%0.9%
04/23$984,0007%33-11%2087%81-21%98.5%5.6%
03/23$923,000-2%379%19410%103-18%97.2%3.0%
02/23$938,0001%340%176-7%125-15%96.1%14.0%
01/23$933,000-0%3417%190-16%147-15%95.2%9.5%
12/22$934,0003%294%225-11%173-9%95.3%9.8%
11/22$911,0003%2812%254-14%190-2%95.4%3.9%
10/22$885,000-2%254%296-2%193-6%97.4%6.3%
09/22$904,283-2%2433%303-1%206-8%96.8%11.3%
08/22$926,014-5%1838%307-4%2232%99.1%15.5%
07/22$979,5241%1318%321-17%21814%102.3%23.2%
06/22$971,761-1%11-15%385-9%19124%104.8%21.9%
05/22$979,3465%13-13%4219%15418%105.8%25.8%
04/22$931,8934%15-12%38621%1305%105.7%21.6%
03/22$896,0659%176%318-2%124-5%104.7%19.7%
02/22$823,005-3%167%324-11%130-10%103.1%18.4%
01/22$852,1430%157%364-15%144-7%102.9%24.9%

San Marcos

MonthAvg
Sold $
ChgDOMChgSold HomesChgActive ListingsChg% List PriceYoY Chg
08/23$1,185,000-0%18-14%1251%395%101.1%7.9%
07/23$1,186,0003%2111%124-6%37-12%100.6%3.8%
06/23$1,154,0003%19-5%1325%425%100.1%4.9%
05/23$1,123,0001%20-29%12613%40-9%99.3%3.4%
04/23$1,113,0009%28-20%1128%44-19%98.7%5.6%
03/23$1,017,0002%35-3%10416%54-17%97.3%-1.9%
02/23$996,0002%3624%90-14%65-14%95.5%1.5%
01/23$972,0002%297%105-15%76-16%95.2%-2.1%
12/22$951,000-2%278%123-22%90-11%94.6%-1.0%
11/22$974,000-1%259%158-3%101-6%95.0%2.8%
10/22$985,000-6%2310%163-8%107-8%95.8%6.4%
09/22$1,047,000-5%2131%177-3%116-6%96.9%11.5%
08/22$1,098,000-4%1623%183-11%1236%99.8%13.8%
07/22$1,143,0004%138%205-8%11620%102.9%17.7%
06/22$1,100,6171%120%222-1%9728%105.0%14.8%
05/22$1,085,7693%120%22411%7613%106.7%19.0%
04/22$1,053,8082%120%20110%678%107.3%18.6%
03/22$1,036,3536%120%183-4%623%106.9%24.5%
02/22$981,319-1%12-20%190-6%60-5%105.0%21.0%
01/22$993,1963%150%203-11%63-7%103.0%26.5%

Vista

MonthAvg
Sold $
ChgDOMChgSold HomesChgActive ListingsChg% List PriceYoY Chg
08/23$998,0002%167%17016%842%101.4%8.7%
07/23$982,0002%15-6%14720%826%102.1%7.6%
06/23$964,0003%16-20%123-8%7738%100.2%1.6%
05/23$936,0000%20-13%1348%5610%99.3%-1.0%
04/23$935,0008%23-21%124-6%51-16%98.7%0.9%
03/23$863,0003%29-17%13227%61-10%97.5%-3.7%
02/23$835,0002%35-3%104-10%68-22%95.3%-5.5%
01/23$820,000-1%3620%116-6%87-19%94.2%-7.2%
12/22$828,000-3%3011%124-24%107-18%95.3%-3.6%
11/22$851,945-6%2717%163-11%131-11%95.9%2.2%
10/22$906,273-0%2321%183-9%147-10%96.6%13.6%
09/22$910,549-1%1919%2013%1633%97.4%15.3%
08/22$918,4641%1633%196-14%15910%98.6%18.5%
07/22$913,029-4%129%227-12%14421%101.7%18.4%
06/22$948,4250%1110%258-3%11924%105.5%24.0%
05/22$945,9102%10-9%26712%9617%107.0%25.8%
04/22$926,8643%11-21%23811%8215%107.4%28.8%
03/22$896,5491%14-13%214-3%719%104.8%30.0%
02/22$883,560-0%16-6%220-8%65-12%103.4%34.0%
01/22$883,9073%170%240-3%74-17%102.6%31.6%

Hi folks,
If you are going to be selling your home in the near future or are just curious about its value in today’s market, give me a call or use the button below. I will email you a comprehensive market analysis of your home. There is no obligation on your part and it is totally free.

My phone number is 760.476.9560.

What is my Home Worth

Not ready to move yet but want to keep an eye on your home value, I have a monthly update that is customized to your home and neighborhood. Click the link below to see what is included in the report and to sign up:

Monthly Update Continue reading

9 Crucial Questions to Ask Before a Bathroom Remodel Begins

So you want to remodel your bathroom? Then congratulations and a fair warning are both in order. Because whether you’re simply upgrading your sink or ripping out every last tile, it takes tons of research to get a successful bathroom renovation right.

  • “©2022 Zonda Media, a Delaware corporation. Complete data from the 2022 Cost vs. Value Reportcan be downloaded free at www.costvsvalue.com.”

Before you obsess over faucets, the first step is to ask yourself some basic questions, to assess your wants and needs. Here’s a guide to help in your decisions.

1. How much can you spend?

The average bathroom remodel will cost $20,420, but that will vary widely, based on what you do. Even a simple toilet can range from hundreds to thousands of dollars. “On average, you should budget $10,000 to $30,000,” says Paloma Contreras, a Houston-based interior designer behind La Dolce Vita.

“Learning how much you have to spend also eliminates falling in love with items that don’t fit your budget,” says Rick Johnson of STL Remodeling and General Contracting in Groton, MA. And don’t worry, having a minuscule budget doesn’t mean limiting your options that much, there are great deals out there in every price range.

2. Who will be using the bathroom?

Consider who will be using the bathroom to help you whittle down your choices. For instance, if kids will be using the bathroom, you’ll definitely want a tub, or tub/shower combo. A tub is also key feature when it comes time to resell—at least for buyers with families.

However, if it is mainly adults who will be using the bathroom, and if you already have a tub elsewhere, “I always recommend installing a walk-in shower in one,” says Harder. The reason: Showers generally get more use than tubs, and open shower designs are a hot trend right now. They also take up less room, at 12 square feet, whereas a standard tub takes up 15 square feet.

You also need to consider who will be using the bathroom when you’re choosing the flooring. “While a polished floor may look amazing, it can be an incredibly dangerous slip hazard,” says Jennifer Harder, founder and CEO of Jennifer Harder Mortgage Brokers, who has worked on numerous bathroom remodels. Slippery floors are particularly dangerous for the old and for the young. Then, it’s best to avoid carpeting and wood, which can develop mold or warp. The sensible choice is usually between tile and laminate, so you might want to limit your search to those materials.

3. Do you want a bigger bathroom or one the same size?

The average bathroom is 40 square feet, which may be cramped if you dream of an expansive oasis. If you want to expand, you probably can. But it will mean moving walls, downsizing adjoining rooms, or carving out space from closets.

The upside of expanding is obvious: more room to relax! Additionally, fantastic bathrooms do help sell homes. The downside? Such renovations are pricy and will extend the time you’ll need. An upscale remodel, meanwhile, won’t bring the same return on investment as a low to mid-range one.

Continue reading

Instant Offers and iBuyers

With advances in technology and new ways to utilize data, some companies have sprouted up to create different ways to sell your property.

Basically, they utilize automated valuation models (AVMs) to make quick offers on homes, allowing

them to close in a much faster than typical timeframe, and then resell them.

From a seller’s standpoint, it can eliminate some hassle and uncertainty, but with high “transaction fees” ranging from 7% to 14%, and the likelihood that they will sell the home for more than they paid you for it, you are simply exchanging that smooth and quick transaction for a portion of your equity.

Companies that offer this kind of service are only in limited markets across the country right now. They operate by having homeowners fill out a short questionnaire with information on their home. They feed that data into their AVM, which kicks back an offer price. They make the homeowner a cash offer to close in a short timeframe (typically about a week) and specify what the fee will be to proceed through to closing. Once they own the home, they will repair and spruce it up, and list it for sale on the open market.

It may be tempting to consider such an offer, but keep in mind that this is a straight numbers play. They are determining a price that allows them the room to cover the costs of the transactions as well as the repairs, while still making some profit. Their profit will either come from the fee you’ve paid or from acquiring your home at a below market price – although it could possibly be a combination of the two.

 n analysis on one company’s transactions showed they were selling homes at an average 5.5% appreciation, on top of their transaction fee. That’s a lot of money to leave on the table for a little convenience.

There are other companies beginning to test alternative listing models as well, utilizing technology and AVMs to make ‘instant offers’ on homes, or to help buyers acquire and move into their next home before selling their current one. As always, it’s important to read the fine print and understand what you are agreeing to before using the service.

Hi folks,
If you are going to be selling your home in the near future or are just curious about its value in today’s market, give me a call or use the button below. I will email you a comprehensive market analysis of your home. There is no obligation on your part and it is totally free.

My phone number is 760.476.9560.

What is my Home Worth

Not ready to move yet but want to keep an eye on your home value, I have a monthly update that is customized to your home and neighborhood. Click the link below to see what is included in the report and to sign up:

Monthly Update

Overview of the Mortgage Loan Application and Approval Processing

Quick overview of applying for a mortgage loan:

Loan Application 1 to 2 hours:

  • Loan application and pre-qualification sheet are filled out
  • Obtain all necessary documents: W-2’s, tax returns; bank statements; paycheck stubs.
  • Review loan programs and how rate lock works

Application Processing 10 to 30 days:

1) Set Up

  • Send out missing items request for items not obtained
  • Order title information, credit report, appraisal
  • verification of employment, funds on deposit and landlord

2) Review

  • Review missing items that have been received
  • Confirm information on verification’s and review for any additional requests
  • Review credit report, appraisal and verification’s

3) Workup

  • Review loan package for completeness
  • Prepare loan paperwork
  • Work up forms for the underwriter

Underwriting 2 to 3 days:

Submit completed loan package for approval – Normally 48 hour turn around. The loan is approved or rejected. Loan approval may be with conditions to be met before loan funding

What is loan underwriting?
Mortgage loan underwriting is a process involving the analysis of your income, assets and credit to determine if you meet the requirements for the mortgage product you are applying for. The underwriter also focuses a great deal of attention on the home that is being financed to make sure the value is sufficient, the home is safe and habitable and the title of the property can be transferred without any issues like prior tax liens, judgments or zoning problems.

The foundation of loan underwriting is built on a concept called the 3 C’s of underwriting. The factors are credit reputation, capacity to repay loan and collateral, appraisal value of home + down payment.

Title 1 to 3 days:

  • Draw loan documents and send to escrow/title company
  • Buyer & Seller sign their respective documents
  • Signed documents and funding package sent from escrow/title company to lender
  • Lender reviews package to ensure all conditions have been met

Closing of Escrow:

  • Funds issued to escrow company for disbursement to seller
  • Grant deed and Trust deed are recorded
  • Keys are then given to buyer

Homeowners Insurance Help FAQ

Q: State Farm and Allstate have announced they will no longer sell new home insurance policies in California because of wildfire risks and an increase in construction costs. What does this mean for prospective homebuyers?

A: In certain high-risk areas of the state, there are very few insurance companies willing to write new policies. In some, State Farm was the last private insurance company writing policies. In those areas, the generally more-costly California FAIR plan may end up being the only property insurance available.

Q: How does this decision impact existing State Farm and Allstate policyholders?

A: State Farm and Allstate will continue to service and renew policies of existing clients in the state and offer new auto insurance policies. However, they will not be issuing any new property insurance policies for the time being in California.

Q: What will happen if more companies follow State Farm’s and Allstate’s moves?

A: There are still a wide range of companies writing policies in California. However, those willing to write new policies in higher risk areas are declining, and as stated above, with the departure of State Farm and Allstate, those in more high-risk areas may have no other option than the FAIR plan.

Continue reading

Home Value Update: July 2023

Inventory is still very low in all areas. With interest rates approaching 7% again, doubtful that will change soon.

Carlsbad: Home prices are beginning to soften a bit. Active listings and the number of sold homes are up.

MonthAvg
Sold $
ChgDOMChgSold HomesChgAct. ListingsChg% List PriceYoY Chg
07/23$1,861,000-3%140%17915%1036%100.0%2.2%
06/23$1,920,0001%14-26%156-3%9723%100.3%3.0%
05/23$1,900,0006%19-17%16115%7922%100.0%2.4%
04/23$1,793,0008%23-26%1409%655%98.4%-0.8%
03/23$1,657,0004%310%12835%62-2%96.9%0.8%
02/23$1,594,000-0%3111%95-17%63-19%95.5%5.1%
01/23$1,598,000-2%280%114-10%78-21%95.9%4.1%
12/22$1,623,0002%28-7%127-19%99-14%94.4%4.9%
11/22$1,587,000-2%300%156-4%115-9%94.0%3.1%
10/22$1,614,000-5%3025%162-14%127-16%94.9%5.0%
09/22$1,703,600-5%2441%188-12%151-11%95.8%14.3%
08/22$1,802,279-1%1742%213-4%1691%98.9%22.4%
07/22$1,821,026-2%1220%223-4%16719%102.8%27.6%
06/22$1,863,6240%100%2334%14037%106.7%29.5%
05/22$1,855,9693%10-17%2236%10236%109.4%26.2%
04/22$1,807,47110%12-20%21012%759%109.5%23.3%
03/22$1,643,4658%15-12%187-6%69-5%107.4%16.1%
02/22$1,516,065-1%176%198-14%73-17%104.4%20.7%
01/22$1,535,059-1%160%231-17%88-15%103.0%30.4%
Continue reading

Pricing Your Home for Sale

Because pricing your house correctly is so important, I promised to tell you all about what to avoid and how to get it right.

First- what to avoid:

  • Advice from friends
  • Advice from real estate agents working in a different community
  • Zestimates

And… please do ignore everything you hear about what your neighbor got for / paid for a house in your neighborhood last year – or even 3 months ago. Markets can and do change rapidly, so those prices have nothing to do with today’s prices.

Your friends probably mean well, but unless they’re agents working in your neighborhood, the information they have will not be accurate. The same is true for real estate agents in other communities.

National news reports national trends, but real estate is always local. Prices are affected by everything from neighboring business, to the jobs market, to the school district, to nearby zoning, to the price of utilities, to views, to access to transportation, and more.

Two neighborhoods less than a mile apart can have very different values.

What about Zestimates? Aren’t they accurate?

No. They have the same problem. The computer program that generates those estimates can compare many things, but has no way to calculate the wide variety of details that affect price. Agents across the country have found that Zestimates can be as much as 30% off the mark – either way.

How can you get it right?

By hiring a real estate agent who is familiar with your neighborhood, and who will prepare a true market analysis, taking all factors into consideration. It’s much the same as a fee appraisal, because it is based on comparison to homes as much like yours as possible. It also takes current market conditions into account.

If you’d like to know the current value of your home, get in touch. I’ll be happy to prepare a market analysis, so you know just where you stand.

What is my Home Worth