San Diego Real Estate Blog

What a Change in the San Diego Market Means for You

Today I want to have an honest conversation with you about our current market. According to our most recent figures, it is changing.

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Today I want to have an honest and direct conversation with you about what is happening in the marketplace. Most agents are unwilling, or unable, to have this conversation because they lack the scope of being able to have as much data as we do.

The market cycle is changing. Five months ago there were about 4,200 homes on the market. Today there are 7,040. That is a huge jump.

At the same time, rates have been climbing. Depending on the loan product you are getting, your rate now could be as much as an entire point higher than it could have been five or six months ago.

We are in a vastly different environment right now where buyers have a lot more choices. This is the phase that always happens at the beginning of any market cycle shift.

Buyers and sellers are not on the same page. Since buyers are seeing all the different available places, they understand that they have a lot more options and can be pickier. In the neighborhood where I live, for example, there were zero to two properties available at any given time five months ago. Now, there are 24. That...

Don’t Follow These 3 Non-Existent Rules That Most Agents Follow

There are many rules and laws about the sale of your home that we must follow. However, some are not actually rules at all.

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Sometimes, an agent may ask you to follow or implement a rule that simply doesn’t exist. Do not get me wrong. Rules are important. Yet there are many misconceptions about what is and isn’t acceptable when buying or selling real estate.

In an industry where it is very easy for people to enter with very few qualifications, many people will start talking about rules that don’t actually apply. Today I’d like to go over three examples.

1. Signs. While there are some neighborhoods that do not allow open house signs at all, for the grand majority of the area's signs are allowed and there is no restriction on how many you can use. In fact, we use 60 signs when we hold an open house. Why not use more if you can? Also, why wait until 12:55 p.m. to put out a sign when you could put out a sign earlier in the day? That will allow more people to see it and encourage them to come and visit the open house.

2. Showings. Typically, you get one showing at a time. However, private showings are not required and can even hurt you because you will not get...