San Diego Home Info by Gretchen Pagnotta
Archive for the 'Seller Info' Category
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! [email protected]
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.
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!
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.
[youtube width="425" height="344"]http://www.youtube.com/watch?v=lsTAoHrKVQI&context=C474e29bADvjVQa1PpcFP1FW0RUuHJQ4ji-efu1aPreemQwED9sHY=[/youtube]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.
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.
Santaluz Home Sales for October 2011
The name of the game in Santaluz for October is “watch and wait.” There have been few closings as we wait for a number of homes to close escrow. We are one of the agents that have been waiting for a closing. The lenders are giving us reasons for sleepless nights as they delay loan approvals. When speaking with a well known and respected loan officer just yesterday we were in agreement on one thing, “preapproval means nothing.” It has become a standard practice in real estate to request buyers to be “preapproved” for a loan. In the past it was “prequalification.” Currently we have lenders run a credit report and obtain detailed information on a buyers employment history and assets. Somehow even going through a preliminary process does not insure the buyer will in fact pass all underwriting requirements and obtain a loan in a timely fashion. Our 17 day contingency periods stretch on leaving sellers frustrated and wondering if they really are going to close an escrow on their homes.
Santaluz Shorts Sales and Bank Sales Slow The Escrow Process
The homes that are offered as short sales require a longer escrow period. Once an offer is obtained on a short sale a Short sale package is submitted to the lender. This package has information on the owner such as a “hardship Letter”, their assets and justification for requesting a short sale and the offer on the property. The lender will request comparable sales and eventually the lender will do their own appraisal of the property. In the meantime, time marches forward. Many buyers simply will not wait for the process. When this happens the home goes back on the market and process starts all over again. The homes that are awaiting a lenders approval of the short sale is reported in Sandicor (MLS) as “Contingent.” Once the lender approves the offer it can be reported as “Pending.”
Santaluz Homes Currently in Escrow
The following homes are currently waiting to close an escrow. Let’s hope I can report them as a closed sale on a future blog!
SANTALUZ CONTINGENT SALES
1. Caminito Lazanja: 3892 sqft listed for $850,00-$875,000
2. Sentinel: 2545 sqft listed for $999,000
3. Tierra Tesoro: 4735 sqft( listed at 4259 sqft but it is a Plan 3 Belsera) listed at $1,100.000
4. Doug Hill: 4854 sqft listed at $1,499,000-$1,699,000
5. Northern Lights: 6336 sqft listed for $1,900,000
6. Northern Lights: 6990 sqft listed for $2,000,000-$2,200,876
SANTALUZ HOMES IN PENDING STATUS
1. Run Of The Knolls: 2900 sqft listed for $830,000
2. Santaluz Village Green East: 2,248 sqft listed for $839,900
3. Garden Ct: 3,323 sqft listed for $945,000
4. Briza Placida: 3,851 sqft listed for $$1,098,000
5. Caminito Camelia: 4,453 sqft listed for $999,000-$1,098,888.
6. Entrada Lazanja: 3,990 sqft listed for $1,199,000
7. Doug Hill Ct: 3,706 sqft listed for $1,199,900-$1,299,900
8. Montien Rd: 6,337 sqft listed for $$2,495,000
9. Cmto Santaluz East : 6,364 sqft listed for $2,749,000
10. Run Of The Knolls: 7,659 sqft listed for $2,995,000
11. Northern Lights: 8,859 sqft listed for $3,495,000
12. Doug Hill: 7,846 sqft listed for $3,995,000.
If you are curious about the current value of your home we are always happy to meet with you and provide a detailed market analysis. If you would like more information on Santaluz please review some of my Santaluz blogs including Market Trends. We live in Santaluz and are your Santaluz Resident Agent Realtors!
* The above information was taken from Sandicor on 10/30/2011 and is accurate but not guaranteed. It reflects activity by various participating brokers.
Santaluz Home Sales for September 2011
September Property sales were 8, equal to 8 in September of 2010 and -38.5% lower than the 13 sales last month. September 2011 sales were at a mid level compared to September of 2010 and 2009. September YTD sales of 85 are running -7.6% behind last year’s year-to-date sales of 92.
* see note below
Santaluz Pricing for September 2011
The Median Sales Price in September was $869,000, down -13.1% from $1,000,000 in September of 2010 and up 5.6% from $823,000 last month. The Average Sales Price in September was $1,046,125, up 15.7% from $904,375 in September of 2010 and up 23.4% from $847,423 last month. September 2011 ASP was at highest level compared to September of 2010 and 2009.
* see not below
Santaluz Home Inventory for September 2011
The Total Inventory of Properties available for sale as of September was 68, down -5.6% from 72 last month and down -20.0% from 85 in September of last year. September 2011 Inventory was at the lowest level compared to September of 2010 and 2009.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The September 2011 MSI of 8.5 months was at its lowest level compared with September of 2010 and 2009.
* This data references Santaluz MLS area which inlcudes Verrazzano, Mirasol and Santa Mionica as well as within the gates of Santaluz.
Santaluz Homes Sold Summer 2011
These properties are all within the gates of Santaluz.
Santaluz August 2011 Home Sales Up from July
August Property sales were 13, up 160.0% from 5 in August of 2010 and 30.0% higher than the 10 sales last month. August 2011 sales were at their highest level compared to August of 2010 and 2009. August YTD sales of 77 are running -8.3% behind last year’s year-to-date sales of 84. This information is provided by Coldwell Banker/Sandicor.
The current market is challenged by short sales and bank owned properties. For a list of homes that have closed escrow in Santaluz year to date please contact me at [email protected]
Inventory: The Total Inventory of Properties available for sale as of August was 73, down -9.9% from 81 last month and down -12.0% from 83 in August of last year. August 2011 Inventory was at the lowest level compared to August of 2010 and 2009.
For a list of homes that have closed escrow from August 1-September 22, 2011 click here.
5 Bedroom in Santaluz Listed For Sale!
If you need a 5 bedroom home on a quiet lot you will love this home! It is a Davidson Plan 2 floor-plan which has always been popular. The first floor features a spacious bedroom/bath suite, a formal living room flanked by French doors leading to a patio, a super spacious dining room with access to the same patio, a family room with direct access to the back yard and a lovely kitchen. The kitchen features dual pantries,warmly stained cabinets, granite counters, stainless appliances and an area for casual dining. This home has 3 fireplaces; dining room, living room and the family room. Lovely travertine floors cover most of the downstairs. New carpet in a neutral color was just purchased for areas that do not have tiles.
3 Bedrooms+ Master Upstairs
The second floor of this home features a master suite with luxurious bath fixtures and 3 secondary bedrooms. There are many architectural features that make this home unique and interesting. This home was built Davidson Homes, a recognized leader and recipient of many awards in the building industry.
The yard is park like with a grassy area, multiple fruit trees and flowering shrubs and plants. There is a fire-pit and a unique Koi pond with a waterfall feature. Set back from the road this home has a long driveway which I particularly value for added privacy and an area for children to play safely. The new owner of this home will also enjoy watching sunsets and cool westerly breezes.
The seller has added a bonus including membership in the Hacienda Club! This includes use of the pool, fitness, cafe, Camp Santaluz and many social activities.
If you would like to see what the latest sales are for Santaluz please read my blog covering this: Santaluz Home Sales
If you would like a tour of Santaluz let me know! [email protected]
We're sorry, but it seems that we're having some problems loading MLS # 110049057 from our database. Please check back soon.
The Pagnotta Team Set Sale Record for June 2011
Sometime you just have to toot your own horn. My husband and I work very hard to help our clients accomplish their real estate goals. We take each listing and purchase as if it were our own home we were selling or buying. So many of our clients say they could not reach their agent and had little communication. We strive to over communicate to insure our clients know all we are doing to help them in the process. We commit to providing a comprehensive marketing program to get our listings sold and to finding our buyers the best home that matches their criteria. This hard work has paid off over the years. In real estate the only pay check is our commission which is earned only after we close an escrow. With market times longer involving more advertising, internet coverage, open houses, staging and other methods to promote a sale it can be months before the homes close. We are committed to the process! This was recent news release:
Carmel Valley Agents Success for June 2011
July 20, 2011
Success Abounds in the Carmel Valley Coldwell Banker Office!
Tasha Manzano, Branch Manager of Coldwell Banker, Carmel Valley is proud to announce the fantastic recent production results of Charles and Farryl Moore, Gretchen and Alan Pagnotta, Kevin and Diane Cummins, and Anne Hoffman. They all succeeded in reaching top producing results, ultimately serving their clients at the highest level.
If you are ready to consider selling your home or know someone who is let us help! We also enjoy finding the perfect home for buyers including new construction! Contact us [email protected]