Hello,

Hope everyone is enjoying the start of a fantastic 2012!  The weather is beautiful but is in the 40’s at night, and it is very dry so some rain would be nice.  Here are some facts, opinions, and statistics for December, 2011.  The statistics come from the San Diego Multiple Listing Service and are for single home sales only except for downtown San Diego condo sales.

LA JOLLA CA had 23 sales from $650,000 to $14,097,000.  The expensive sale sold for $1,281/sq.ft. with all homes selling for an average of $604/sq.ft. and buyers obtaining an average of 11% off the asking price and 92 days on the market.
22 sales were under $2,280,00
5 sales were over $2,800,000 and sold for an average of $960/sq.ft.
16 sales were ocean vu homes selling at an average of $967/sq.ft. with 22% off the asking price.
There were 18 sellers trying for a short sale.
La Jolla has around a 7-month inventory supply which is equal to June, 2009.

DEL MAR, CA 11 sales from $630,000 to $1,985,000
Average sales price was $498/sq.ft. with buyers obtaining an average of 7% off & 88 days on the market.
There were 7 sales over $1 million.
There were 4 ocean view sales with an average sales price of $576/sq.ft. and 6% off.
There were two sellers trying for a short sale.
Del Mar CA sales increased to 2004 levels and the standing inventory dropped to a 12-month
supply.

RANCHO SANTA FE, CA had 15 luxury home sales from $1,110,000 to $5,000,000.
The average sales price was $386/sq.ft. with an average of 10% off and 150 days on the market.
Rancho Santa Fe Covenant had 5 sales with an average of $471/sq.ft. selling price and 16% off and 150 days on the market.
Rancho Santa Fe has around a 14-month standing inventory so it’s a great time to buy a luxury estate in Rancho Santa Fe.

CARMEL VALLEY, CA in San Diego had 40 sales from $555,000-$2,112,000.
The average sales price was $303/sq.ft. with 5% off and 72 days on the market.  The Carmel Valley market  has stabilized with around a 3-month inventory supply.
CARLSBAD, CA had 70 sales from $373,000-$1,200,000.
The average sales price was $257/sq.ft. with 4% off and 77 days on the market.
POWAY, CA  had 35 sales from $232,000 to $1,650,000.
The average sales price was $245/sq.ft. with 4% off and 104 days
DOWNTOWN SAN DIEGO had 63 condo sales from $152,000 to $1 million.
The average sales price was $381/sq.ft. with 4% off and 99 days on the market.

RENTERS SPENDING MORE ON HOUSING THAN OWNERS!
Corelogic U.S. Housing and Mortgage Trends recent report stated that renters are paying 5% more of their income now for housing costs than home owners.

Here is an interesting article on how trusts work on homes where the equity is up-side down.

http://rismedia.com/2012-01-11/Ask-the-Experts-House-Cant-be-Separated-from-other-Assets-in-Trust/

Please feel free to call me for any real estate information in the San Diego area or for a list of competitive mortgage companies for refinancing or getting approved for a new loan or to be place on my automatic mailing list for new listings, etc.  www.JaneFoster.com, JaneFoster@san.rr.com, San Diego Luxury Home Realtor

 

cARMEL vALLEY HAD 27 HOME SALES IN NOVEMBER WITH AN AVERAGE SELLING PRICE OF $316/SQ.FT. WITH BUYERS OBTAINING AN AVERAGE OF 4% OFF AND 83 DAYS ON THE MARKET. THERE WERE 38 POSSIBLE SHORT SALES IN PROCESS. WWW.JaneFoster.com, San Diego, CA Ocean View Realtor,
JaneFoster@san.rr.com, 858-349-7614

Carlsbad, CA home sales were down in November with 70 home sales from $450,000 to $1,250,000.
Homes sold for an average of $258/sq.ft. with buyers obtaining an average of 4% off and 86 days on the market.
Carlsbad had 103 possible short sales in process.  Sales statistics from the San Diego Multiple Listing Service.  www.JaneFoster.com, San Diego Ocean View Homes, JaneFoster@san.rr.com, 858-349-7614

Poway had 31 home sales from $316,000 to $2,500,000 with an average of $250/sq.ft. selling price and buyers obtaining 5% off the asking price with 57 days on the market.
Poway had a possible 41 short sales in process.  Sales statistics from the San Diego Multiple Listing Service, www.JaneFoster.com, JaneFoster@san.rr.com, 858-349-7614

Del Mar, CA home sales were down with 5 sales.
The average sales price was $830/sq.ft. with buyers obtaining an averge of 8% off and 57 days on the market.
Del Mar, CA had 7 possible short sales in process.
Del Mar, CA had 6 condo sales with an average of $270/sq.ft. sales price and 8% off and 100 days on the market.  Sales statistics from the San Diego Multiple Listing Service
Jane Foster, Del Mar, CA Luxury Homes for sale, www.JaneFoster.com, JaneFoster@san.rr.om, 858-349-7614

La Jolla homes sales were down for November with 19 sales with a price range of $361,000 to $12,000,000.

All homes sold for an average of $617/sq.ft. with 9% off and 104 days on the market.
There were two ocean front sales which sold for an average of $1177/sq.ft. with buyers obtaining 15% off and an average of 171 days on the market.
La Jolla, CA had 36 condo sales from $219,000 to $930,000 selling for an average of $445/sq.ft. with buyers obtaining an average of 7% off and 82 days on the market.
There were 36 possible short sales in process.
Statistics from the San Diego Multiple Listing Service
JaneFoster.com, Jane Foster, La Jolla CA Luxury Home Realtor, Jane Foster@san.rr.com, 858-349-7614

Sales for Rancho Santa Fe were down in November, 2011 but the price of homes sold was up with the highest sale being $9,225,000.  Here are the sales statistics from the San Diego Multiple Listing Service:

12 home sales price range of $1,025,000 to $9,225,000
11 of these sales were in the Covenant where you own a minimum of 2 acres of land and most homes are 3000-6000 or more sq. ft. and most properties zoned for horses.  These homes sold for an average of $348/sq.ft. with buyers obtaining an average of 4% off and an average of 93 days on the market.
There were 15 possible short sales in process.  Call Jane Foster Rancho Santa Fe Luxury Homes for Sale, www.JaneFoster.com, JaneFoster@san.rr.com

Happy Halloween to everyone and hope the holidays make everyone happy.

Isn’t our weather fantastic! The one day of rain made everything look so lush. Here are some interesting facts, statistics and opinions for you.

For those of you are trying to decide whether to invest in real estate now or deciding if
stocks and bonds, etc. are a better investment, here is a great article with the opinions of some intelligent thinkers and writers from across the U.S.

http://www.kcmblog.com/2011/04/05/ok-you-win-stop-listening-to-real-estate-agents/

SEPTEMBER, 2011 SINGLE FAMILY HOME SALES STATISTICS FOR SELECTED AREAS OF SAN DIEGO, CA FROM THE SAN DIEGO MULTIPLE LISTING SERVICE:

RANCHO SANTA FE, CA had 17 sales which is down from 26 sales at the 2004 peak year or 35%.
The low sale price was $895,000 and high sales price was $4,475,000.
The average sales price was $417/sq. ft. with 8% off and 188 days on the market
5 Covenant sales had an average of $437/sq. ft. with 16% off and 164 days.
2 Bridges sales had an average of $530/sq. ft. with 6% off and 87 days.
Homes built since 2000 sold for an average of $468/sq. ft. with 10% off and 232 days.
Cielo homes sold for an average of $263/sq. ft. with 2% off and 147 days

LA JOLLA, CA had 24 sales down from 33 sales at the 2004 peak year or 27%.
The low sale price was $530,000 and the high sale price was $10,800,000.
The average sales price was $582/sq. ft. with 9% off and 104 days on the market.

DEL MAR, CA had 20 sales, and one oceanfront sale for $2,750,000.
The average sales price was $583/sq. ft. with 8% off and 90 days on the market.

ENCINITAS homes sold for an average of $344/sq. ft.

CARDIFF, CA homes sold for an average of $385/sq. ft. with 4% off and 68 days on the market.

POWAY, CA average sales price was $259/sq. ft. with 5% off and 75 days.

CARLSBAD, CA as usual had the most coastal sales with 92 sales and an average sales price of $267/sq. ft.

SCRIPPS/SAN DIEGO, CA had an average sales price of $254/sq. ft. with 4% off and 56 days.

DOWNTOWN SAN DIEGO, CA CONDOS sold for an average of $359/sq. ft..

 

With rates at an all time low the lenders tell me that they have huge numbers of people refinancing now. The good news is that these refinances will be putting $300-$1200 and more into people’s pocketbook to spend. This should definitely help the economy as 70% of our GDP comes from retail sales so spending is good.  www.JaneFoster.com, San Diego Luxury Homes Realtor, JaneFoster@san.rr.com, 858-349-7614

DEL MAR, CA had 20 sales, and one oceanfront sale for $2,750,000.
The average sales price was $583/sq. ft. with 8% off and 90 days on the market.
(This information is compiled from the San Diego Multiple Listing Service).  Call Jane Foster, Del Mar, CA Ocean View Realtor, www.JaneFoster.com, 858-349-7614

LA JOLLA, CA had 24 sales down from 33 sales at the 2004 peak year or 27%.
The low sale price was $530,000 and the high sale price was $10,800,000.
The average sales price was $582/sq. ft. with 9% off and 104 days on the market.
(This information is compiled from the San Diego Multiple Listing Service and is only for single-family homes sold in September, 2011).  Contact Jane Foster, La Jolla, CA Oeanview Realtor, www.JaneFoster.com, JaneFoster@san.rr.com, 858-349-7614