North County Real Estate News February 2014 Issue Vol.1

North San Diego County Real Estate Market Update by Rebecca Austin Will 2014 See The Same Increase as 2013? Last spring and summer selling season saw our property values increase at an incredible pace. After watching values plummet over the last five years, the 25-35% median price increases were a welcome site for North County home owners, but the question will see an equally brisk 2014? Although our Real Estate market is trending upward and virtually all economists and analyst predict continued growth, the breakneck pace of our market is not expected. To understand the why behind the prediction of a continued healthy Real Estate market we need to look back and understand what happened in 2013 to create a similar frenzied market we faced during the boom times of 20032007. During the fourth quarter of 2012, during a typically seasonally slow time of year, something very interesting was taking place. The headlines continued to indicate the doom and gloom, siting Foreclosure rates and Economic struggles. But what was happening in the San Diego Real Estate market and many others was something quite different. Homes were selling at a faster pace and offers were being accepted at and sometimes slightly above asking prices. Lenders were experts and investment & market strategists about where becoming overwhelmed with the refinance and buying busi- prices are headed over the next five years. They then average ness and the County Recorder whose responsible for record- the projections of all 100+ experts into a single number. Here are the results: ing homes when they sell was staying open later and later. • Home values will appreciate by 4.3% in 2014. And, since there was no reports discussing these things, the • The average annual appreciation will be 4.2% over media was still whining about how bad things were. the next 5 years Someone rang the bell in December of 2012 that the market had hit the bottom and, in what seemed like a flash, five • The cumulative appreciation will be 28% by 2018. years of pent up demand entered the market and they wanted • Even the experts making up the most bearish quartile to buy a house. Any house; and right away. What we saw of the survey still are projecting a cumulative in early 2013 was a massive increase in demand and a lack of appreciation of over 16.8% by 2018. inventory. As a home owner, you know that getting ready Rebecca Austin is the President and to sell your home can take some time and research. So, as Broker of New Team Realty, Inc based San Diego home owners began to react to the new opporin Carlsbad. Rebecca is available to tunity of selling and moving to a new home, the inventory consult on Real Estate strategy by visiting increased and has since normalized the market. www.NewTeamRealty.com or by calling Experts predict that we will continue to see this recovery 760.231.8150. pace going forward. Every quarter, Pulsenomics surveys a nationwide panel of over one hundred economists, real estate Prepared for the North San Diego County Association of REALTORS® by Robert Brown, Ph.D. Department of Economics California State University, San Marcos MLS # Address Zip Bed Bath Est SF Yr Blt List Price 130052408 3012 SOUTHWIND Ln 130057879 1020 Nolbey St 130056089 3511 Rock Ridge Rd 130054909 2244 Masters Rd 130059576 2926 Sombrosa St 130056451 7410 Carlina St 130058203 7922 Terraza Disoma 130044396 7913 Calle Jalisco 130047914 7941 Sitio Peral 130057123 3332 Corte Verso 130052496 3455 Camino Corte 130057909 1742 Sorrel Ct 130050358 611 Strand St 130044381 6758 Caurina Ct 130047562 1964 High Ridge Ave 130041949 1857 High Ridge Ave 130056424 2341 E Masters Rd W 130055719 6630 Titanite Pl 130059864 1282 Mariposa Rd 130057213 1530 Maritime Dr 130058818 1659 LANDQUIST Dr 130060960 1634 Pleasant Pl 130048265 2856 Dos Lomas 130049583 605 Leonard Ave 130028845 1840 Kerisiano Wy 130057971 4833 Marblehead Bay Dr 130055420 13590 ANTHONY RIDGE Rd 92084 92007 92010 92008 92009 92009 92009 92009 92009 92009 92009 92011 92011 92011 92008 92008 92008 92009 92011 92011 92024 92024 92028 92054 92054 92057 92082 4 3 4 4 3 4 4 4 4 5 5 3 4 4 4 4 5 4 3 4 3 3 4 3 4 4 3 3 2 3 4 2 3 2 3 4 3 3 2 3 3 3 3 4 4 2 3 2 2 3 2 4 4 5 3828 1547 2603 3540 1567 2543 1643 2655 2797 2592 2823 1517 2468 3126 2216 2216 2783 3217 1812 3347 1945 1511 2831 1451 2700 3073 4200 1992 1980 2005 1997 1987 1985 1987 1997 2000 1996 1999 1978 2004 2002 1986 1986 1997 2010 2003 2000 1986 1985 1997 1948 1999 1996 1993 $699,000 - $749,777 $885,000 $749,900 $899,000 - $949,000 $599,000 $627,900 $699,000 - $729,000 $815,000 $839,000 - $859,000 $815,000 - $865,000 $869,000 $639,000 $815,000 $799,900 - $829,900 $669,900 $699,000 $769,000 $795,000 - $829,000 $699,900 - $724,900 $799,900 - $830,000 $649,000 - $679,000 $719,000 $749,900 $595,000 - $625,000 $700,000 $659,000 $679,000 - $979,000 Days on List Date Market 39 8 50 24 5 16 5 84 33 4 31 6 36 74 35 88 10 30 2 7 14 6 56 47 175 7 15 9/27/13 10/30/13 10/18/13 10/12/13 11/9/13 10/21/13 11/1/13 8/19/13 9/6/13 10/25/13 9/30/13 10/31/13 9/17/13 8/19/13 9/3/13 8/7/13 10/19/13 10/16/13 11/12/13 10/25/13 11/4/13 11/19/13 9/9/13 9/14/13 6/1/13 10/31/13 10/15/13 Sales Close of Price Escrow 719,777 875,000 745,000 917,500 620,000 615,000 700,000 810,000 832,000 845,000 862,500 665,000 790,000 815,000 665,000 705,000 765,000 805,000 715,400 825,000 650,000 700,000 724,900 615,000 700,000 605,000 875,000 NORTH COUNTY HOMEcontact Rebecca Austin at 760.231.8150 or visit OWNERS For a FREE search and matching of buyers looking for a home like yours please 12/6/13 12/6/13 12/13/13 12/5/13 12/5/13 12/4/13 12/6/13 12/17/13 11/8/13 12/12/13 12/9/13 12/5/13 11/26/13 12/2/13 12/10/13 11/27/13 12/3/13 12/17/13 11/26/13 12/4/13 12/19/13 12/13/13 12/4/13 11/1/13 11/27/13 12/5/13 11/22/13 www.NewTeamRealty.com. Many of our Home Sellers avoid having a sign, lock box or the expense of repairs when selling thanks to this service. 10

North County Real Estate News February 2014 Issue Vol.1 | Page 10