Preforeclosures are up!

Changes are shifting here in Encinitas at the street level.

Encinitas,CA - Foreclosure Inventories

Encinitas,CA - Foreclosure Bids

This could help some longtime fence-sitters around December.

Sorry for the lack of new content

The local Real Estate market in Encinitas, Cardiff-by-the-sea, Leucadia & Olivenhain are solidly back to 2004 prices. Those value shoppers looking for a bottom? I believe Spring of 2009 was it! Sold homes are 10-15% higher now over the last 12 months. The amount of well qualified buyers with large down payments or ability to pay all cash in today's market is staggering. A great blog to follow that has daily content, but covers a larger area here in San Diego county would be Bubbleinfo my friend and former colleague; JtR @ Klinge Realty.

If you would like some help with your Real Estate questions? Feel free to contact Me. Cheers

Crest Drive

Update; Now in escrow after 15 days on the market.

3 bed, 2 bath, 1,421 sq. ft. of living space. On a large lot, most of the back yard is concrete. Great if you want to park 8 RVs. Located on the corner of El Camino Real. The asking price is $436,900. I expect multiple offers.

Leucadia, 6 bed

6 bed, 3 bath, 2,442 sq. ft. of living space. Built in 1960 on a about 1/5 of an acre lot.
The asking price is $449,900. I expect multiple offers.

Leucadia, Avocado acres

Sold for $390,000 cash.

Now in escrow after 3 days.

$388,000 is the asking price for this detached home, I expect multiple offers. The last time it sold for $879,000 in 1/06 and the owner hit the ATM for another 50K for the total liens (loans) of $914,000. A total of 3 unpermitted units have been added over the years. I believe this property will sell for more than the list price.

3 bed, 2 bath, built in 1957. Very freeway close and about 1 mile to beacons beach.

Update; Villanitas

This home sold for all cash $480,000 after 5 days on the market, orginal post 2/20/09.

4 bed, 3 bath, built in 1972 with 2,723 sq. ft. of living space. The asking price is $500,000.
This home needs carpet, window coverings, an interior paint and back yard make over. I sure most buyers would consider a lot more improvements. There is a large ground floor bed/bath for those who are in need of such.

Leucadia west of I-5

Sold for $630,000 and more than the asking price.
Update; now in escrow after a minimum of 5 offers.

I'm suspect when properties are listed for 20% below the comps and across the street the asking price is $1,050,000 down from 1.3 mil for similar size/age home and lot size. Most buyers looking at this size parcel will likely tear-down and plan for a 3,000-5,000 sq. ft. of living space home.

3 bed, 2 bath, built in 1948 on about 6/10th of an acre (25,700 sq. ft. lot). Small horizional ocean view. The asking price is $599,000.

I think this home will sell for more than the list price.

Update; Cardiff detached

Now in escrow after 33 days on the market. Original post 2/5/09

3 bed, 2 bath, 1,288 sq. ft. of living space. Built in 1958, 7,000 sq. ft. lot. List price $499,900.

Side note; I owned a home down the street four years ago and think this home will be sold soon.

San Elijo views

4 bed, 5 bath, 4,300 sq. ft. of living space. Originally built in 1915 and effectively rebuilt in 2004. Asking price of 3.5 mil, Whitewater views looking to Solana beach and the Lagoon.

How much will it sell for?

Update; Nice family home

3/19/09; This home has now closed escrow for $476,300 an all cash deal.

Remember this property posted on 1/18/09, it fell out of escrow. First go-around it was on the market 4 days, all new offers will be reviewed on 3/9/09.

3 Bed, 2 Bath 1386 sq. ft. of living space, 7840 sq. ft. lot. Dual pane windows, new roof, kitchen granite, paint, AC, dog run, synthetic decking and fence, $42 a month HOA. List price $469,-499,000.

Update; More value priced listings

Remember this home listed at $485,000 on 1/29/09. Well it just closed escrow for $525,000. Nearly 10% more than the asking price. This property had multiple offers.

4 bed, 3 bath, 1836 sq. ft., built in 1973, 7500 sq. ft. lot. No HOA fees, with a list price of $485,000 and just went to escrow, 12 days on the market. Past loans totaled $693,000.

Encinitas Highlands

Now in escrow after 29 days.

3 bed, 2 bath, 1,140 sq. ft. of living space. Built in 1951, 1/5th of acre lot size. This is a total fixer with the highest and best use as tear-down to make way for a 2500-4000 sq. ft. custom home. Close to downtown, new library, moonlight beach and west of the I-5. This home is in the first stage of foreclosure and is clearly a forced sale. The asking price is $719k-749,000. Reduced on 3/7 to 699k.

How much will is sell for? This is a highly sought after neighborhood.

Beach front and west of I-5

Homes within spitting distance of the beach have been rare examples of strength in a housing market that has seen historic price declines throughout North County. Along the oceanfront, prices are stable; foreclosures are rare.

So far, prices have not fallen at all in the market from Del Mar to Carlsbad, west of Interstate 5, based on an analysis conducted by Eugene Kuznetsov, founder of a blog that publishes local price indexes at sdhpi.blogspot.com. To continue reading at the North County Times. By ZACH FOX

Villanitas

Update; Now in escrow after 5 days on the market.

4 bed, 3 bath, built in 1972 with 2,723 sq. ft. of living space. The asking price is $500,000.

This home needs carpet, window coverings, an interior paint and back yard make over. I sure most buyers would consider a lot more improvements. There is a large ground floor bed/bath for those who are in need of such.

I expect multiple offers and to sell for more than the asking price.

Update; Detached 2285 sq ft for $360,500?

This property was posted on Jan. 7, with the question being asked about listing ultra-low to drive multiple offers. The final sale price is $451,000 with the bid-up nearly 20% over the asking price, an all cash transaction.

4 bed, 2 bath, built in 1974.

Bluewater

3 bed, 3 1/2 baths, 1900 sq. ft. of living space. Built in 2007 with a 5600 sq. ft. lot, single level. Peek ocean view from corner of the parcel. List price in Aug. 08 for $739,000. It closed escrow a few days ago for $650,000.

This property was sold by the builder in March 2007 for 758K with 40K (=$800,000) in upgrades after the purchase.

Mega Fixer

This property has many issues that come up with it. It was striped to the studs with nothing inside, a total money pit. It fell out of escrow at least once. How and where the parcel is laid-out is less than desirable.

3 bed, 2 bath, built in 1960, 1500 sq. ft. of living space. No backyard except for a very old pool, with a list price of $456,000. A total of 146 days of market time and final sales price of $375,800. Please Note: the last time a detached home in Cardiff sold for less than this home was in Feb. 2001, (1021 Birmingham Drive).

Leucadia spec home

Remember this Estate? It has now closed escrow, all Cash for $3,525,000. Orginial post on 1/11/09.

Detached Active's and Pending's

A quick look at Single Family Detached homes in the 92024 and 92007 reveals a few trends.

Taking a look the listed inventory with a minimum price of $900,000 shows 160 properties actively listed. Currently 10 are in escrow, a 16-1 ratio.

The $600,000 and less price range shows 32 properties actively listed and 18 in escrow. This is almost a 2-1 ratio.

In summary the entry market place (600k & less) here in town is healthy with only a few months of inventory, on the other hand the high end (900k+) appears to have a one and half years of inventory.

Summerfield

3 bed, 2 bath, 1,682 sq. ft. of living space on .23 of an acre. Built in 1975, with very few improvements, but located at the end of a cul-de-sac. List price of $549,900 went to escrow in 11 days, came back on the market for 3 weeks with a new disclosure of a "Cracked Slab" and sold for $457,000 with an additional $20,000 in closing costs paid for the buyer (=$437,000).

Cardiff walking district

2 bed, 1 bath, 968 sq. ft. of living space. Built in 1943, a 5,000 sq. ft. lot. Nice panoramic ocean views. Highest and best value is likely a tear-down. List price $1.4 mil, with past sales history of; $1,255,000 in Dec. 2005 and; $285,000 in Oct. 1996. How much do you think it will sell for?

Cardiff Detached near top rated school

3 bed, 2 bath, 1,288 sq. ft. of living space. Built in 1958, 7,000 sq. ft. lot. List price $499,900.

Side note; I owned a home down the street four years ago and think this home will be sold soon.

Cardiff Duplex Ocean & Lagoon views

Unit 1) 3/3, bed/bath and; unit 2) 1/1, 2577 sq. ft. of living space. 4 car garage with a list price of $1.5 mil, a total of 50 days on the market and sold for $1,050,000.

Leucadia Duplex

Unit 1) 3 bed, 1 bath. Unit 2) 1 bed, 1 bath. Total living area 1,062 sq. ft. built in 1959. West of I-5, near Hwy 101, the lot size is 7,000 sq. ft. List price $549-599,000. Sold for $543,000 after being on the market for 21 days.