Average prices are up a bit to $616,935 in November, with an average of 55 days on the market and homes being sold at an average of 96% of their listing price.

Something else to note – in all price ranges – the high, low, and average – properties sold at over 95% of their listing price.
Although it may only be temporary, it seems that the average Carlsbad prices are trending up!

September was a good month for Carlsbad Real Estate.  There were 121 homes sold in Carlsbad during the month of September, with the average Days on the Market at 56 – down from 70 days on the market in August. Average selling price is $618k , about the same as the $627k in August and both up from $555k in July. Something else to note – in all price ranges – the high, low, and average – properties sold at around 95% of their listing price. Although it may only be temporary, it seems that the average Carlsbad prices are trending up! 

What To Do Next:
1.  Fill out the San Diego County Assessor’s form. 

2.  Provide all the necessary documentation – current Carlsbad property tax bill, opinion of new value, and your Carlsbad neighborhood comparables (back up of opinion of value).  Please contact us at (858) 205-2000 for your comparable values.  Please be prepared to provide your name, address, email address, home square footage, and number of bedrooms and baths.

3.  Mail to the San Diego County Assessor.
Upon completion, mail your forms to:
Clerk of the Board of Supervisors
Assessment Appeals Services
1600 Pacific Coast Highway Room 402
San Diego, CA 92101

Please contact The Mewborn Team for more information.

1. The tax credit expires on December 1st, 2009.  That means all real estate purchases have to be CLOSED before then.  You can not still be in escrow.

2. If you were hoping to use the tax credit – you can no longer buy a short sale.  Most short sales take about six months to complete.  There is no longer time to complete the short sale process and close escrow before November 30th.

3.  Because of the large amount of buyers, there are often bidding wars on properties under $400,000.  If this is your price range, be prepared to make full price offers, and often be forced to counter above asking price.

4.  Financing is still tight - and slow!  Most “easy” mortgages are taking around 45-60 days to fund. 

If you are looking to take advantage of this First Time Buyer Credit – please consider all these facts above.  In order to close by November 30th, you probably need to be in a contract by September 30th.  You need to be prepared to make strong offers, and you need to work with your professional team of real estate and mortgage consultants to keep the process moving quickly.

If you have any questions about Carlsbad, La Costa, Encinitas, Del Mar, Oceanside, or San Marcos real estate, please call The Mewborn Team.  We specialize in coastal luxury San Diego real estate.  We are happy to serve as your personal real estate advocate!

July 2009 – Carlsbad Real Estate – Carlsbad Homes For Sale
Carlsbad Market Statistics 92008, 92009, 92010, 92011, 92012

Carlsbad and La Costa interest rates went down slightly from 5.32% for the average 30 year fixed in the month of June to an interest rate of 5.25% for the average 30 year fixed in the month of July.

If you have any questions about Carlsbad, La Costa, or other local real estate, please contact us.

We have been telling clients over the past couple of months that we thought the market had stabilized.  In La Costa and in particular La Costa Oaks - most of the lowest sales prices (La Costa comparables) had been BEFORE January 2009. 

We have also been telling clients that you won’t know the bottom of the Carlsbad real estate market, until you’re already past it.  It seems that may be the case.  Dataquick has reported that the Median Home Price for San Diego real estate is up for the third month in a row. 

But don’t take our word for it – For the San Diego Union Tribune real estate article – click – San Diego Real Estate Prices.

In particular, I think it is important to note that the average sale price in Carlsbad is up to $549,000 from $537,000.

I also think it is important to note that the Carlsbad average is that homes sold at 96% and 97% of their listing price.

These are key indicators in determining market direction. Does, this mean that we don’t still have some tough days ahead, not necessarily. But I would certainly say that the indicators show that the Carlsbad real estate market may be moving in the right direction.

June 2009 – Carlsbad Real Estate – Carlsbad Homes For Sale
Carlsbad Statistics 92008, 92009, 92010, 92011 

	B/B	SFt	LP	LP/SF	SP	SP/SF	SP/LP
High	5/5	4,757	$1,399,900	$678	$1,338,000	$655	123%
Low	2/1	863	$100,000	$69	$82,000	$61	75%
Avg	3/2	2,164	$571,983	$265	$549,663	$255	96%

 

 May 2009 – Carlsbad Real Estate – Carlsbad Homes For Sale
Carlsbad Statistics 92008, 92009, 92010, 92011

	B/B	SFt	LP	LP/SF	SP	SP/SF	SP/LP
High	6/6	4,913	$1,385,000	$625	$1,330,000	$591	109%
Low	1/1	791	$55,000	$44	$52,500	$42	85%
Avg	3/2	2,131	$554,628	$269	$537,993	$259	97%

 

 

 

 

This past Saturday was the opening of Rockledge in La Costa Oaks, in Carlsbad, CA.  We stopped by Saturday morning just to see the traffic.  It wasn’t nearly as busy as the grand opening of Copperwood in La Costa Oaks about a month ago.  So, we wondered about the potential immediate success of the development.  It seemed to me that given the AMAZING price range for being part of my much loved La Costa Oaks subdivision, that the community would be much busier that morning.

HOWEVER – we happened to stop by again on Sunday evening about 4:00 pm on our way to The Carlsbad Outlet Mall and Ruby’s.  And although, the traffic still wasn’t bustling, it was steady.  And imagine out surprise when we spoke to the sales representative and found that FOUR OF THE NINE homes that had just been released the day prior were already sold!!!!

As a real estate agent – that is GREAT news.  It reinforces some of the trends we are seeing with our clients – if you find a great home at the right price – you better be ready to act.  They are often selling on the first day on the market – at ABOVE asking price.  Does that mean the booming market is back – not necessarily.  But in a price range under $500k to $600k – homes are selling, and often selling quickly!

As for Rockledge at La Costa Oaks – Colrich expects to build 43 homes – many with canyon and ocean views.  The schools are the very highly rated and desirable – Mission Estancia Elementary, Diegueno Middle, and La Costa Canyon High School.

Rockledge at La Costa Oaks have homes between 1,913 and 2,463 square feet.  The property tax base is 1.3%.  As a La Costa Oaks homeowner, you will have access to The Oaks Club (which includes a gathering room, catering kitchen, swimming pool, bbq areas, and fully equipped exercise facility).  You will also have access to the coming La Costa Oaks Splash – a second pool and bbq area scheduled for completion in late 2009.

There are $10,000 of incentives offered if you use the preferred lender.  If you choose to use our services, the Mewborn Team is also offering a $4,000 incentive toward closing costs.  You ALSO have up to possibly $18,000 of tax credits available.   The financial incentives are HUGE!  ASK US HOW!

If you have any questions about Rockledge, La Costa Oaks, or any other local real estate communities, please contact us.  We are always happy to answer your questions.