The Morning Report
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Couple of interesting housing bits to point out:
Listen to the Market: KPBS had a couple of familiar folks on These Days this morning for a segment updating the housing market — local mortgage broker and real estate professor Mark Goldman and North County broker Jim Klinge.
They covered a bunch of topics: buyer fervor and pickiness, the trouble getting a loan for a condo and the murkiness and complexity of the foreclosure market.
Klinge videotaped a bit of his experience on his blog.
About 10 percent of the houses that come on the market are a good-looking house, with the right price on them, that everyone could buy today, Klinge said. Buyers see bidding wars on those, and the other nine out of 10 houses sit untouched.
You can listen to the whole segment here.
Hot and Cold: I got some really interesting stats Friday about what ZIP codes in the county are the “hottest” and the “coldest” — meaning where prices are selling above and below the listing prices that sellers hope for.
The idea behind the “cold” ZIPs is that they are places where buyers might have more luck negotiating down the asking price. But those ZIPs seem to be the more expensive parts of town.
Here are the stats, from online home-listing company ZipRealty. (Read the whole second quarter report here.)
Here are the “hottest” five ZIPs. These percentages relate to the asking price — so buyers on average paid more than 100 percent of what sellers were asking.
• Chula Vista (91911) — 101.89 percent
• San Diego — Paradise Hills (92139) — 101.52 percent
• San Diego — Otay Mesa (92154) — 101.45 percent
• Vista (92083) — 101.13 percent
• San Diego — Encanto (92114) — 100.91 percent
And the five “coldest” ZIPs:
• Oceanside (92054) — 94.86 percent
• Del Mar (92014) –93.81 percent
• Coronado (92118) — 93.26 percent
• La Jolla (92037) — 93.04 percent
• Rancho Santa Fe (92067) — 91.79 percent
Supply and Demand: I meant to link to this earlier but Rich Toscano had a really interesting update recently about how many homes are for sale in the county, and what that means for prognosticating.
We’ll have new Case-Shiller home price numbers (for May) tomorrow morning, so check back for that.
— KELLY BENNETT