No, really. I’m not just saying that. Working 14 hour days, 7 days a week to keep up with a mad rush of home tours, purchase offers, counter offers, escrows, and the respective loans and refi’s.
I am not complaining since this presents a good opportunity to recoup some commission after last year’s four-month dry spell, while all of the nations banks decided to take an undeserved break from lending.
What’s moving? Well predictably enough (achemm) the $250k to $550k market. And while some clients recognize more potential downward pressure in the $700k-$2m range, all-cash buyers seem to be swinging a pretty big hammer in this segment too.
But let’s not get carried away… people have been talking about today’s news item that declared Solana Beach a big winner in 25% appreciation last year. I have a healthy skepticism for all news items, so I pulled my own numbers to fact check. I show a 12% increase but hey, this is still great. Then again I also show that the 4th quarter average sales price tumbled 34% compared to the same period in the previous year.
This suggests to me, that my stance on market outlook is unfortunately shaping up to be accurate. Let’s hope not, but if I had to get off the fence, I would say that we are sitting in the eye of the storm. Lot’s of good deals out there if you know where to look, but lot’s of pitfalls too if you don’t. I miss blogging, but not only does baby need a new pair of shoes… so does daddy.