The Morning Report
San Diego news and info
you need to take on the day.
This afternoon I was wondering about David Cleveland, the house-hunter who finally closed escrow on his house last month. I sent him an e-mail to find out. Here’s what I heard back; I thought you might be interested, too:
Things have been going pretty well actually with a few minor hiccups. A few things were damaged in the move, but the moving company has resolved most of them now. We’ve had to deal with some plumbing issues in the kitchen that weren’t uncovered during the inspection, and the cable company had to replace the drop to the house in order for us to get internet and phone hooked up. Jill’s been very busy painting and organizing, and the girls now go to preschool 3 days a week. So overall it’s starting to come together. We needed one wall repaired in the media room so that’s currently being worked over the next week or so, and consolidating my office into a smaller shared space has been somewhat frustrating. But it is great to come home each night and have a home cooked meal. We are constantly amazed at the beauty of where we live, and can’t wait for the winter weather (such as it is) to lift and we can enjoy the outdoor spaces more.
According to [local Realtor Adam Rappoport], single family homes under the $700,000-$800,000 range, located in desirable neighborhoods, that “show” well, and that are competitively priced compared to similar properties, are generating substantial interest and multiple offers. Homes that are less desirable or priced too high, on the other hand, languish. …
The mad rush for this “good inventory,” as he calls it, is a fairly new thing.
Cleveland reminded us that he encountered that market reality in his house hunt in October, November and December. Here’s a bit from one of his dispatches from Dec. 3:
Late Wednesday we got calls from agents for 2 of the 4 properties that we put our latest offers on. One indicated we were one of a half dozen or more who have bids on the property in Rancho Bernardo and wanting our best offer (which we gave and are now among more than a dozen offers on the house which was pretty much trashed inside with water damage to boot) …
So that multiple offers trend has been showing up for a few months. What other interesting trends are you seeing in the local market? Click below to leave a comment.