Need to know what's happening in now in the North County real estate market? Garrett and Tyson Lund give you a quick overview, as well as some tips for selling your home quickly in this market.
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Garrett Lund: Hi. Garrett Lund. Tyson Lund. Lund Team.
Tyson Lund: How are you? We wanted to do our ... a month ... what is it ... a quarterly update? We try to do these every month. We want to get you kind of an update. It is September 2016.
Tyson Lund: We want to give you a quick update. Let's make this quick, so you can digest-
Tyson Lund: If you're talking or thinking about buying or selling Real Estate, just ... what we are seeing in this Market. North County, Carlsbad, let's say as a central point, and then the surrounding cities, where we deal with in North County, including Encinitas. Each city, each area has it's own little dynamic. What we tend to find, is things 900 and under right now, single family, detached.
[00:01:00] Tyson Lund: Still a very busy Market. This is typically the time in the Market where we see slower sales, and sales drop off as much as 20 or 30 percent versus Spring and Summer. This is kind of a cooling off period, typically. We are still seeing robust activity.
[00:01:30] Garrett Lund: Absolutely. I'd say it's a better, healthier Market, where we were coming off of ... it's always interesting when you come off of these Market's with extreme low inventory, multiple bids, and then you come back to a normal market, where, "Hey, my property sat on the Market, 30 to 45 days." Not the end of the world. More of the norm, and actually still pretty fast to sell a million dollar property. It's just because we're coming off of this unique Market. If we look at it, great low rates. Some of these in the low 3 percent for the 30 years. Prices may be slightly better than they were, just a couple of months ago.
[00:02:00] Garrett Lund: We were talking ... we were encouraging, if you're a buyer out there, and you hadn't found something. Or you got bidded out, it actually be in your benefit, now in this Market. Go out, reintroduce yourself with the property, maybe you've already see. A lot of times, buyers see it once, completely discount it. We were just talking about one particularly pricey Ranch, where they started extremely high. It's a big floor plan. Beautiful home. Missed the window. I think they shot it a little high. Now it's dropped down a lot. A buyer should re-visit that with fresh eyes. Look at it. It's a great value.
Tyson Lund: Yeah. Comparatively, and when you go out there and look at what you can get for 4600 hundred square feet.
Garrett Lund: Absolutely.
[00:02:30] Tyson Lund: We took over another listing interestingly enough. In and it's a wonderful property. I think sometimes, it just needs a fresh look. Fresh touch.
Garrett Lund: Absolutely.
Tyson Lund: Some owner have taken the opportunity. They got out there. They presented themselves, and maybe some of the marketing wasn't just right. Or maybe they left some honey-do projects to the buyers, thinking, "Oh well, I'm not going to do that." We encourage owners, always before you go on the market, and we always walk the property with the owner, and give suggestions on how to present it, in the best possible light.
[00:03:00] Tyson Lund: This is an opportunity for maybe sellers to take a second look at their pricing and staging, and maybe how they're presented. Because buyers, interestingly enough- Even at a million dollar property, will make a decision very quickly. Buyers, don't discount a house that's been on the Market for a while. Look at it as an opportunity.
[00:03:30] Garrett Lund: For our sellers, that are thinking, "Well, maybe the Market's changed a little." Here's the argument though, and it's almost a better Market now, to be a seller. Maybe, theoretically, slightly less. Not ... we're still dealing with great prices. We're moving properties at an all-time high. Maybe we're working a little bit more, to pre-Market, like you're saying.
Here's the flip side. If you don't want to be homeless of go in to Temp Housing, there are more opportunities to capitalize and buy on. That seller, if they price it right, out the shoot, stage it right, get it right, they're done and out of the property. Then, they can go out there and look at these properties that have been sitting on the Market, and really come in and grab those at a deal.
[00:04:00] I'd actually argue, this is a great Market for a seller as well. Because the Market, in the past was always like, "Yeah, I can kind of get this high price and sell in a couple of days. But, what do I buy?" Now we have some more opportunity out there.
Tyson Lund: We encourage you to visit us online. Send us an email. Or just give us a call at 760-438-0800. We will see you out there in the Real Estate Market. We appreciate you watching it.
Broker Associate | 01385039