San Diego Home Info by Gretchen Pagnotta

3 Steps to Sell Your Santaluz Home in 2012

3 Steps To Sell Your Santaluz Home in 2012

1. Price it right. Review comparables in past 90 days with an agent that knows Santaluz.  You may not agree and want to try “higher” but experience has shown us these listings linger and will sell even lower because this market is not going up any time soon!  The home has to appraise and appraisers use the same comps agents have access to. There are no “magic” homes in this market. The other misnomer is “I am in no hurry…” Homes that are priced right sell faster and for a higher price. A home that lingers because the seller ”is in no hurry” will become tired and statistics show us will sell at a lower price.

 It is very  important to use  an agent who lives in Santaluz and knows the community. Many people do not realize values between each production home neighborhood;  Warmington’s, Spanish Bungalows,Garden Homes, Hacienda Sur, Posadas, Sentinels, Casitas and customs.It is critical to select an agent who has a history of consistent production which The Pagnotta Team has (25 years!) Read this blog…  So many factors come into play; views, floor-plans, location, condition, upgrades and presentation. We just closed a home on Doug Hill and View was a large factor of value.  If you would like an opinion of value on your home please let us know (no obligation!) GBPagnotta@gmail.com

2. Stage it to Perfection.  As Realtors we use the expression; “It has to be pretty.” Not only pretty but presented in such a way that the space is visual, the floor-plan shows flexibility, accessories create emotion and the home is appealing to all senses. Vacant homes are a challenge as they lack emotion. I am certified as a Staging Professional and guide my sellers to make their home as buyer appealing as possible. For more on staging read:http://sandiegohomeinfoblog.com/2010/06/09/staging-homes-part-1-accessorize/

3. Market Locally and  Globally.  The buyer of your home may live in Carmel Valley, Fairbanks or another San Diego area but they may also live in Washington state, Chicago, Georgia, Japan, China or England. It is critical to understand how an agent will position your home on the Internet and what programs their brokerage offers to marketing a home. The days of putting a home in MLS and waiting are over!  That may work for a distressed bank owned priced below market but for a traditional sale the home must be marketed. Our association with Coldwell Banker gives us the very best opportunity to position your home to as many buyers as possible. More than 90% of of home buyers are using the Internet to search for their home. In additon we have written more blogs than my competitors on Santaluz.  People want information and we provide it. If you have not done so please go to www.SanDiegoHomeInfoblog.com/Santaluz and see all the information we have provided to clients on Santaluz. Remember people have a choice in the community they select so marketing the community is as important as marketing the home. The chart below represents the web traffic in November 2011 for our Coldwell Banker Web Traffic. If you want to discuss selling your home in 2011 let us know! GBPagnotta@gmail.com

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Market Trends in Santaluz 2011 Custom Homes

Santaluz Custom Sales Offered Excellent Values in 2011

 Out of 64 closed sales year to date within the gates of Santaluz, 23 were noted in the MLS as distressed sales.  Distressed sales are short sales or bank owned REO).   The distressed sales drag down values but are not always the best values due to location and condition. The buyer is purchasing “as is” and may have to make improvements.  The short sales require long escrow periods.  I know of several short sales where lenders refused offers and yet in the final process and after continued market periods ended up accepting even lower offers.  This can be frustrating to both buyers and sellers.  I wrote a blog relating to the Production Homes closing in Santaluz and will focus this blog on the Custom homes although there was a Poasada in this list. If you want to read my first blog go to Santaluz Market Trends in 2011.

There have been tremendous values with the sales of Santaluz custom homes.  Many people who thought they would build made the decision to purchase resale homes.  When the homes become lower in replacement cost the aggravation, time and uncertainty of building has prompted people to purchasing a home already constructed. In addition some of the best lots available in Santaluz have homes already built on them. The lowest price home per sqft sold in 2011 according to Sandicor was a custom on Plein Aire at $260.96sqft  ($1,447,000)   for 5,545 sqft. The lowest price custom was on Illuminado selling for $1,400,000 for 5,329 sqft ($262.72 sqft).  As in the Production homes the sales and value have allot to do with LOCATION, views, quality of construction, floorplan and condition.  Also there are club memberships which can transfer with a sale and have some value to the buyer.

There has never been a better time to purchase a custom home.  Many people are under the false impression that they cannot get a loan.  Lenders do have strict guidelines but there is plenty of money available to qualified borrowers at unbelievable attractive rates.  If you are considering a move please contact me so I can get you in touch with the very best sources for loans available today! If you would like a tour of Santaluz and some information on what is available today in Santaluz let me know! I always know what distressed sales may be coming up when notices are filed but there are also extremely good values on traditonal sales! Again, we live here, sell here and know the values within the Santaluz Community! GBPagnotta@gmail.com

The chart belows shows the closings in 2011 for the Custom Homes in Santaluz.

* data taken from Sandicor and deemed accurate but not guranteed. Sales reflect various  cooperating brokers.

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Santaluz Market Trends 2011

Santaluz Market Trends Year to Date

I will provide complete year end trend and statistics but today am reviewing uo to 12/23/11.  Out of 64 closed sales year to date within the gates of Santaluz, 23 were noted in the MLS as distressed sales.  Distressed sales are short sales or bank owned REO).   The distressed sales drag down values but are not always the best values due to location and condition. The buyer is purchasing “as is” and may have to make improvements.  The short sales require long escrow periods.  I know of several short sales where lenders refused offers and yet in the final process and after continued market periods ended up accepting even lower offers.  This can be frustrating to both buyers and sellers.

Santaluz Lowest Priced Home Closed in 2011

The lowest price home to close in 2011 was a Spanish Bungalow, Plan 1 single story, 2970 sq ft on 14649 Caminito Lazanja. This was a lovely home that was purchased in 2005 for $1,150,000. It was listed for $850,000 in 2010, lowered to $695-750,000 range and finally closed as a short sale at $618,000.  This home was in escrow a few times while awaiting a lenders approval for a short sale.  This is a prime example of never knowing what a lender will accept for a sale and when they will accept it. This is why many buyers will make multiple offers on homes and why they “walk” because they may take an accepted offer on another home they have a contract on. If you want more information on purchasing or selling  short sales we are always available to guide you in the process.

Factors Affecting Value in Santaluz Homes

 Location, location, location is always a huge factor in value. The locations in Santaluz that are least desirable have road noise (Camino Del Sur is only getting busier with increased traffic noise), back to other homes with little privacy as far as angle and landscaping, are in the direct path of golf balls (evidence is the multiple golf balls) and yard size.  Naturally the homes that are most desirable have views, lovely backyards with space for entertaining and money spent on  hardscape, well planned floor plans (customs can be too ”unique”) and homes that are  well maintained with desirable features.

 Closings for  Santaluz  Production Homes in 2011 uder 5000 sqft

The production homes are all the homes that are not “custom.” The total number of production homes are 71 Davidson, 65 Warmington (Belsera), 64 Spanish Bungalow, 63 Garden Homes, 55 Posadas, 50 Hacienda Sur,80 Sentinels and 80 casitas. The average from this list below  is a closed sale of $998,636 for 4br/4ba at $291.27 sqft. In determining value we always separate the distressed sales from the o sales and then consider all factors in pricing a home. I will be writing a blog on what Santaluz Home sellers need to do to sell in 2012..stay tuned!

Closings for Santaluz

Closings for Santaluz Homes 5000 sqft+: I will write this blog at a later date..stay tuned!

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Rancho Bernardo 92128 Home Sales Year to Date 2011

Rancho Bernardo East Home Sale Trends

Rancho Bernardo 92128 includes some  senior areas; Oaks North and 7 Oaks where many  single family homes sell under $500,000 due to their size and age.  There is no new construction in this zip code therefore no competition with new home builders.  Many of the homes in this area are older and need updating which buyers factor into their decision on offer price and also whether they want to take on the burden of remodeling kitchens and bathrooms. The homes that have been updated sell quickly and at higher prices.

Please see my other blogs on Market Trends!

If you would like an opinion of value on your property please contact us! The first of the year is always a good time to market properties.  People who are relocating start looking at this time with hopes of closing an escrow early in the spring.

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Rancho Bernardo 92127 Home Sales Year to Date

Rancho Bernardo West Home Sale Trends

October Property sales were 24, down -36.8% from 38 in October of 2010 and -36.8% lower than the 38 sales last month. October 2011 sales were at their lowest level compared to October of 2010 and 2009. October YTD sales of 344 are running -11.8% behind last year’s year-to-date sales of 390.

This 92127 zip code includes the newer homes in 4S Ranch which has been challenged by short sales and bank owned properties as well as competing new construction with incentives.

The Median Sales Price in October was $640,500, down -13.4% from $740,000 in October of 2010 and down -4.0% from $667,500 last month. The Average Sales Price in October was $688,329, down -26.8% from $939,776 in October of 2010 and down -12.0% from $782,304 last month. October 2011 ASP was at the lowest level compared to October of 2010 and 2009.

List Price as Compared to Closed Sale Price Trends

 The October 2011 Selling Price vs Original List Price of 96.6% was down from 96.8% last month and up from 96.1% in October of last year.

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Santaluz Luxury Priced Homes Sales Year to Date

Santaluz Home Market Trends for Homes $1,500,000

October Property sales were 0, down -100.0% from 3 in October of 2010 and -100.0% lower than the 1 sales last month. October 2011 sales were at their lowest level compared to October of 2010 and 2009. October YTD sales of 23 are running 43.8% ahead of last year’s year-to-date sales of 16.

The Median Sales Price in October was $0, down -100.0% from $1,950,000 in October of 2010 and down -100.0% from $2,000,000 last month. The Average Sales Price in October was $0, down -100.0% from $1,883,333 in October of 2010 and down -100.0% from $2,000,000 last month. October 2011 ASP was at the lowest level compared to October of 2010 and 2009.

The Total Inventory of Properties available for sale as of October was 17, down -29.2% from 24 last month and down -39.3% from 28 in October of last year. October 2011 Inventory was at the lowest level compared to October of 2010 and 2009.

A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The October 2011 MSI of 0.0 months was at its lowest level compared with October of 2010 and 2009.

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Santaluz Home Sales Year to Date 2011

Santaluz Home Sales Challenged by The Market

This is activity for homes up to $1,500,000 within Santaluz 92127. Because it is taken from Sandicor date it includes Verrazzano, Mirasol and Santa Monica as well as gated Santaluz. October Property sales were 7, up 40.0% from 5 in October of 2010 and -22.2% lower than the 9 sales last month. October 2011 sales were at a mid level compared to October of 2010 and 2009. October YTD sales of 76 are running -24.8% behind last year’s year-to-date sales of 101.

 The Median Sales Price in October was $405,000, down -51.8% from $841,000 in October of 2010 and down -51.8% from $840,000 last month. The Average Sales Price in October was $483,071, down -38.5% from $785,200 in October of 2010 and down -38.0% from $779,333 last month. October 2011 ASP was at the lowest level compared to October of 2010 and 2009.

The Total Inventory of Properties available for sale as of October was 47, down -6.0% from 50 last month and down -21.7% from 60 in October of last year. October 2011 Inventory was at the lowest level compared to October of 2010 and 2009.

A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The October 2011 MSI of 6.7 months was at a mid range compared with October of 2010 and 2009.

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Carmel Valley San Diego Home Sales Year to Date 2011

Carmel Valley in San Diego Home Sales Are Down From From 2010

Carmel Valley home sales were up 7.1 from October 2010 yet down 3.2 from September 2011.  Sales were hghest level as compared to October 2010/2009.  October year to date are running behind last years year to date numbers.

October sales reflected homes that were listed in the spring and summer months and closing in October.

If you are interested in getting more information on specific sales in your nighborhood let us know. Carmel Valley is a very desirable neighborhood and we are always excited to market homes to our global audience in this area! Contact us for any assistance! GBPagnotta@gmail.com

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Poway Home Sale Trends Year to Date 2011

Poway Ca. Home Sales Show Downward Trends

The market is Poway is fairly typical of what we are seeing in many North San Diego County communities.  WE had a dismal summer with all the anxiety caused by the debt crisis and people are sill nervous and reluctant to “pull the trigger” in a purchase.  It is interesting to note the list price/sales price is pretty close 95.8% for year to date. Low appraisals are causing some issues with closing prices.  We are finding the appraisers want to see recent activity and cosed sales. So no more “my house is nicer and the magic house.”  Those days are gone and subjective value is challenged with logical and confirmed criteria.

If you are thinking of selling your home in the coming year give us a call so we can review our Internet Marketing Program that gives you the maximum global exposure and best chances of getting showings and a sale!

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Santaluz Pot Luck Group

Are You Interested in Meeting Your Neighbors?

Santaluz has a variety of clubs and interest groups.  We think it might be fun to organize a casual Pot Luck Dinner Group.  The thought would be to have a group of Santaluz people who want to make new friends and meet more people while having a great time sampling some Santaluz cooking.  There are some excellent cooks in Santaluz!  Rather than have it a prepared menu  it is more casual.  The host/hostess can ask people who are planning on attending what they are bringing .  This can be a quick email correspondence.  The purpose of this to insure there are a even number of appetizers, main courses and desserts.  Everyone know they can count on me for a pasta dish! 

We would like to kick this off if there is enough interest in January. We would like the first to be Pagnotta’s Pot Luck on Saturday January 21, 6-9 pm and we will host/hostess!  If you are interested in participating in this group let us know so we can get a list going.  Just email me at GBPagnotta@gmail.com and share any thoughts you might have. We  were debating whether Friday or Saturday nights would be best…again, let’s hear what you think is best! Also let me know if you are willing to host/hostess. Our thoughts were to do this 6x a year!

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