The State of Real Estate – West of the Five

As of this writing there are currently 2104 Homes and Condos for sale West of the Five between Coronado and Cardiff and 550 homes and condos in escrow. The recent statistics are showing a fall out rate of 25% for escrows in San Diego County, most likely due to buyers locking up homes for the 17 day contingency period and then going on to look for other homes – A common occurrence in a Buyer’s Market. It is taking an average of 67 days for homes and condos to go into escrow (pending) West of the Five.

We currently have about a 5 month supply of homes for sale West of the Five.

As for all of San Diego County there are 17,640 Homes and Condos actively for sale and 5676 Homes and Condos in escrow with a 3.8 month supply of homes available.

So what does this all mean?

It means that our inventory is on the rise and homes are taking a little longer to go into escrow than they were three months ago. For Buyers, now is a good time to negotiate reasonable deals while interest rates stay historically low. For Sellers, now is time to price and market your home aggressively, the competition is getting stiff.

To talk with Travis Houston of Prudential California Realty about selling or buying property West of the Five call direct at 858.232.2008 or email travis@westofthefive.com

To Zillow or not to Zillow?

Why I’m Not a Mechanic

Let’s imagine there was a website where I could enter a description of car trouble I was having: engine lags when accelerating, blue smoke comes from exhaust pipes, etc.

That website might give me a rough idea of what the problem is. It might even give me detailed instructions on repairing these potential problems, and an estimate of how long it might take. But that doesn’t make me a mechanic. And it doesn’t make me any more inclined to perform the repairs myself. That’s what a professional mechanic is for.

Sure, I might take this diagnosis to a mechanic and say, “Here’s what I think the problem is.” But I’ll still need the mechanic’s help.

Now consider the fact that houses cost 10, 20, or 30 times more than a car and you’ll see my point.

Just because I know how much a house might be worth doesn’t mean I’m ready to write up a contract and steer the sales process myself. That’s a big undertaking that requires professional help. Zillow will not make professional agents out of your clients any more than Weather.com will turn me into a meteorologist.

Zillow is a number cruncher. It can’t listen to clients. It can’t look out for their interests and respect their needs. It can’t offer them unique advice for unique situations. And it can’t help them adapt to unforeseen challenges.

In short, it’s no replacement for a good real estate agent.

Related Article from the San Diego Union Tribune; Zillow: Click and miss?

Take a Long-Term View on Your Next Home Purchase

Take a Long-Term View on Your Next Home Purchase

For potential buyers – softening real estate prices can lead to many a restless night: What if I buy now and my home’s value falls?

As long as you can afford your payments and are willing to ride out any possible downturns, this shouldn’t be a concern. If you’re buying for investment purposes, it’s more important to try and time the fluctuations of the market cycle. However, if you’re buying to live in the property, you should buy because of the cycle of your life.

Historically, real estate prices go up at the rate of inflation plus about 1.5%, according to NAR.

Welcome to West of the Five

Hello and wecome to the West of the Five blog and WestoftheFive.com

Our West of the Five team knows what it takes to find the perfect home, to sell properties for their highest value, and to find great investment properties.

Our purpose is to cultivate long term security, freedom, and wealth for our real estate clients by contributing outstanding consultative services Before, During and After every transaction. We love what we do and are willing to work hard to achieve your San Diego real estate goals with the utmost satisfaction.

My name is Travis Houston and I’m the team leader for West of the Five. Please don’t hesitate to contact me or my team for any and all of your real estate concerns. As your real estate negotiator, I treat your money like it’s my money. With insightful questions and intent listening I’ll create a great strategic plan for working together and getting guaranteed results.

Thinking about buying or selling real estate in lovely San Diego?

Travis Houston
858-232-2008
Travis@WestoftheFive.com